Locals to spend 30.7% more by 2022

[Big Boy]

Given the already out of control consumer borrowing, and the general lack of pay rises for locals, I find this one of the most ludicrous headlines of the year.

Thailand's consumer expenditure is projected to surge by 30.7% by 2022, driven mainly by travel, consumer food and beverage sectors, says global market research firm Euromonitor International.

Full story: Bangkok Post

[StevePIraq]

The way they eat I can understand the spend

[Spitfire]

Yes, quite right OP. I too am also curious as to which dark hole they pull these figures out from. Considering most Thais that are eligible for debt are up to their eyeballs in it and those that aren't have used the informal loan sharks...seems strange that they can nonchalantly just whip this out of nowhere with little supporting evidence and declare the future is rosy and secure.
It's not as if wages are going to grow sufficiently, savers start spending or people in general are going to be given more credit...the opposite looks like it is happening. Unless, of course, they are talking about the influx of Chinese that is projected to happen in the next 5 years...maybe, but that is hardly "Thai" local spending.

[caller]

Need to know who commissioned the research and what the remit was. Otherwise it's meaningless. If it was a sales pitch by the company to extend it's business in Thailand, same thing applies. I wonder if they factored in the next coup?

I think it's obvious that younger, better off young Thai's are travelling more, especially to other parts of Asia on cheap flights, but the very strong baht makes such travel relatively cheap. What happens when the baht falls, or the economy takes a hit?