Abstract
SCB EIC estimates that the March 28, 2025 earthquake in Thailand will have a limited impact of approximately THB 30 billion on the economy, mainly affecting the tourism, real estate, and construction sectors. The tourism sector is expected to decline in the short term, with 400,000 fewer international tourists projected. The real estate sector, particularly condominiums, may experience a contraction in transfer volumes. However, construction activities are expected to continue benefiting from repair and restoration work. Restoring public confidence through government assistance and safety measures is crucial for minimizing long-term economic damage.
Summary
Economic Impact of March 2025 Earthquake in Thailand
SCB EIC estimates that the earthquake on March 28, 2025, will have a limited impact of approximately THB 30 billion on the Thai economy. The tourism sector, real estate, and construction businesses are expected to be most affected. Monitoring consumer confidence and tourist sentiment is crucial for recovery.
Short-Term Impact on Tourism Sector
The tourism sector may see a short-term decline with an estimated 400,000 fewer international tourists due to safety concerns. Recovery is anticipated within three months, as cancellations normalize and confidence returns.
Effects on Real Estate and Construction Sectors
The real estate sector, especially condominiums, may experience delays in purchases and transfers, leading to a decrease in transfer volumes and new project launches. Construction activities are ongoing, with opportunities for contractors in repair and restoration efforts. Building resilience and quality standards are emphasized for future projects.
Source : Preliminary Assessment of the Earthquake’s Economic Impact on Thailand
