The University of the Thai Chamber of Commerce’s Consumer Confidence Index fell to 49.5 in May 2026 from 50.6 in April, its lowest level since November 2022. The decline was largely driven by concerns over escalating tensions in the Middle East and persistently high oil prices, which are expected to push up living costs and dampen economic growth.
The government anticipates a rebound in confidence on the back of its stimulus measures. It has introduced a 176-billion-baht consumer subsidy program aimed at easing the cost of living. Nonetheless, consumers are likely to remain cautious about spending in the first half of 2026 as they await greater clarity on regional geopolitical risks, the scope and impact of government support, and the effectiveness of economic stimulus in restoring confidence, the university said in a statement.
At the same time, the tourism sector continues to experience a slow and uneven recovery, as weakening global demand and surging energy prices push travel costs higher.
