Top ten growing businesses in Thailand in 2016

BANGKOK, December 18 (TNA) - Bangkok-based University of the Thai Chamber of Commerce (UTCC) has revealed top 10 growing businesses in Thailand in 2016, based on its recent survey. UTCC President Saowanee Thairungroj told journalists on Friday that, based on the recent survey, health and beauty businesses were found to be top of the list of the 10 most growing businesses in Thailand next year. Saowanee said the others include information and communication technology (ICT), tourism, insurance, food and beverages, transport and logistics, market management, education and sports businesses. According to the UTCC president, 10 businesses with a negative outlook next year were found to be those concerning handicrafts, bleaching and dying, textile, dried vegetable and fruits, rubber purchase, small mills, printed media and farm product middlemen, as well as trade in used computers and televisions and farm machines. The UTCC president predicted that the Thai economy next year should grow by 3.5-4 per cent on average, export by 4 per cent, domestic consumption by 3.7 per cent, investment by 6.2 per cent, industries by 3.6 per cent and the agricultural sector by 0.7 per cent, while inflation should stand at about 1.4 per cent. The UTCC president pointed out that positive factors for the Thai economy in 2016 should be government investment in mega-infrastructure projects, the more stable domestic political situation, growing Thai exports boosted by the weakening Thai baht, the domestic expansion of 4G mobile phone networks, the formation of the ASEAN Economic Community (AEC) and the global economic recovery. On the other hand, the UTCC president assessed, negative factors should be high household debts, rising production costs and people's costs of living, concerns over wars and terrorism, as well as impacts from drought and China's economic slowdown. (TNA)