Consumer debt clouds outlook for Thai car sales, tourism

Bank earnings flag economic headwinds for next government

20230724 thailand car sales

Car sales saw pronounced effects from the persistent debt crunch, with auto loans seeing the fastest rise in delinquent payments. © Reuters

FRANCESCA REGALADO, Nikkei staff writer

BANGKOK -- Urgent problems for Thailand's next government were highlighted in half-year earnings posted late last week by the country's biggest banks, who warned of the uneven economic and limited tourism recovery, and downward pressure on consumption from high living costs and debt burdens.

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