In 2022, consumer lending in Thailand is expected to grow positively driven by the recovery from the economic effects of COVID-19. An increase in consumer confidence in addition to pent-up demand for entertainment and travel will help drive positive rate of gross lending, especially since Thai people have become more accepting of loans and indebtedness if they help people meet their everyday needs and expenses more easily.
The reopening of the country in 2022 without any further lockdowns has helped drive an increase in consumer spending on cards in Thailand. Foodservice venues and retailing outlets have remained open throughout the year giving consumers greater opportunity to shop and spend money.
In 2022, the consumer confidence in mortgage leasing is anticipated to be increased in the aftermath of the pandemic and an improving economy. Many customers would like to buy houses with space since some will continue to work from home at least part time.
During the last couple of years, card lending was hit particularly hard as this is a notoriously expensive and cost-inefficient form of consumer lending. In addition, with Thailand enduring strict socialising and home seclusion measures, consumers have had less opportunity to spend their disposable income via card.
Over the forecast period, it is expected that consumer lending will continue to see growth in gross lending as the economic recovery from the pandemic heightens consumer confidence and boosts spending. It will also increase the willingness to take out loans, with consumers now more accepting of having loans with low repayments to be assured they can meet their essential purchases, bills, and needs.
Files are delivered directly into your account soon after payment is received and any tax certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the Consumer Lending industry in Thailand with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Consumer Lending industry in Thailand, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
Aggregate of Consumer Credit and Mortgages/Housing. Gross Lending: The total value of loans advanced by institutions in a given year; data refers to single year only. Outstanding Balance: The collective amount owed by borrowers at the end of a given year; data refers to the cumulative impact of debt.See All of Our Definitions
This report originates from Passport, our Consumer Lending research and analysis database.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!