Bangkok, UOB expects that in 2024 the Thai economy should grow 2.8%, supported by Consumer spending-tourism Still need to keep an eye on risk factors High inflation – economic recession – geopolitical conflicts
Mr. Gidon Jerome Kessel, Executive Vice President Deposit and consumer banking management products of UOB Thailand have revealed investment trends in 2024. There is a positive factor, namely inflation that is expected to tend to decrease continuously this year. As a result, the central bank may reduce rates. Interest is around the middle of the year. and the possibility that there will not be a major recession from the global economic slowdown is in a better direction. However, there are still risk factors that investors must be careful of, such as prolonged geopolitical tensions that may stimulate the rate of inflation Central banks may maintain high interest rates to fight inflation. without considering the negative impact on the economy That may lead to a continued slowdown of the world economy.
For Thailand, it is expected that in 2024 the Thai economy will grow by 2.8 percent, driven by consumer spending and tourism. The government aims to attract 40 million foreign tourists and generate 3.5 trillion baht in tourism revenue this year, despite ongoing challenges from external factors such as high inflation. and the risk of economic recession Geopolitical conflicts also create foreign risks, which investors must watch carefully.
‘2024 is a year with both positive factors and risk factors. It is important for investors to keep market cycles in mind. Political events and related risks UOB recommends diversifying your investment portfolio to reduce potential volatility and looking for stable income by investing in a variety of assets,’ said Mr. Gidon Jerome Kessel.
UOB recommends investing by taking into account the risk of Invest in various assets with low volatility and create continuous income Meeting long-term financial needs. Investment-grade debt instruments are likely to perform strongly this y
ear as economic growth and inflation slow. And it is expected that the central bank will reduce interest rates. UOB expects the US Federal Reserve Will begin reducing interest rates in mid-2024, in addition to receiving attractive interest returns at present. There is still a chance to receive additional returns (capital gain) from investing in debt instruments. Investors should invest in short- to medium-term debt instruments at the beginning of the year. before switching to investing in long-term debt instruments when the market eases concerns about debt issuance.
Source: Thai News Agency