A survey conducted by the Research Department of the Stock Exchange of Thailand (SET) and the Thai Listed Companies Association highlights a cautious economic outlook among CEOs for 2024-2025. The survey, conducted between August 1 and September 27, involved 249 listed companies. While many CEOs are optimistic about the influence of global trends like Generative AI and sustainability on business operations, concerns about rising production costs due to wage hikes and international trade tensions remain prevalent.
According to the survey, 63% of CEOs expect Thailand’s economy to grow by 2-3% in the coming years, driven by factors such as the recovery of tourism, government stimulus measures, and budget disbursements. However, household debt, weakened domestic purchasing power, and political instability could hinder this growth. By 2025, global political uncertainties and rising labor costs are expected to exacerbate these pressures.
Despite the challenges, over 70% of CEOs anticipate revenue growth in 2024, with even stronger prospects for 2025. However, they cite high household debt and rising energy costs as significant risks. Additionally, 75% of CEOs plan to invest or expand in the next 12 months, with ASEAN markets as the primary focus. Nevertheless, liquidity concerns persist, with 64% reporting slowed sales and 55% worried about trade debt payments.
