Major Banker Says Most Thais Have Financial Concerns

Thai Baht coins

Thai Baht coins. Photo: anan2523 (Pixabay).

On September 25th, 2023, Mr. Yuthchai Tayaratchakul, Executive Vice President of United Overseas Bank (UOB), gave a statement on a recent report on the ASEAN Consumer Sentiment Study (ACSS). The report presented a significant insight into citizens and business sectors in current economic circumstances from 5 countries in ASEAN: Singapore, Malaysia, Indonesia, Vietnam, and Thailand.

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The top three financial concerns of the respondents are rising inflation, household expenses, and shrinking savings, respectively. Given these concerns, Thais tend to focus more on prudent spending. They are also gravitating towards investing via digital banking platforms, the study showed.

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By Goongnang Suksawat

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