The findings also revealed that 30 per cent of respondents would choose to take their mothers to a restaurant and 9 per cent would spend time with her at home.

When asked what their ideal domestic destination to celebrate Mother’s Day would be, Chiang Mai topped the list with 30 per cent, while Thailand’s famous beach destinations Hua Hin/ Cha-Am (22 per cent) and Phuket (18 per cent) came in second and third respectively. Pattaya and Samui (8 per cent) claimed joint fourth spot while Bangkok came in fifth (4 per cent).

Given the choice of an international trip, Japan scoops the top spot for almost 6 out of 10 (59 per cent) of the respondents. It has become one of the most popular choices for Thais who want to travel abroad. The country offers appeals with its bustling shopping streets, delicious eateries, and remarkable scenery. Surprisingly, long haul destinations like America and Europe (18 per cent) were second, beating Hong Kong (8 per cent), Southeast Asia (6 per cent), and South Korea (5 per cent).

When asked on what type of travel they would they like to go with their mothers, the survey showed that most of the respondents favour nature (45 per cent), followed by exploring art and culture, and urban areas by 26 per cent of the respondents.

Almost a third of the respondents are willing to spend more than Bt15,000 (29 per cent), 26 per cent would spend between Bt1,001 and Bt5,000 and a quarter of respondents (25 per cent) would spend from Bt5,001 to Bt10,000.

For those with a budget above Bt10,000, Agoda recommends popular Asian cities such as Hokkaido in Japan, Hanoi in Vietnam and Kuala Lumpur in Malaysia. A budget up to Bt10,000 enables a two-day trip to domestic destinations like Rai Mae Fah Luang in Chiang Rai, Koh Kood in Trat, and Montana Farm in Nakhon Ratchasima.

Banjongjit Angsusing, the department’s director-general, said on Monday the directors will be bringing foreign buyers to attend the logistics show “Tilog – Logistix2019” in Bangkok from August 28-30.

It’s a prime opportunity to discuss with them adjustments to Thailand’s export strategy for the second half of the year, she said.

“Several research centres have revised down predictions for the country’s exports this year, but the department maintains that exports will grow by three per cent. Now we have to explain to our directors around the world how to find new markets to boost export growth,” she said.

Banjongjit noted that Washington plans to apply a 10 per cent import tax to $300 billion worth of products from China starting on September 1 and there will be a significant impact on Thai exporters.

Washington’s strategy aims to increase US economic involvement in countries ringing the Pacific and Indian oceans.

US Secretary of State Mike Pompeo told reporters in Bangkok last Friday that the US wanted to promote free and open economic growth in the region. He insisted that US investments in the region would come from the private sector and have no underlying political agenda.

Southeast Asia “is central to our Indo-Pacific Strategy because it lies in the centre of the region, connecting the Pacific Ocean with the Indian Ocean,” said Eric Jones, chief of staff at the US Overseas Private Investment Corp (OPIC).

OPIC last year allocated $4 billion to finance projects among the 10 member-nations of Asean, hoping to spur further investment from US private firms, Jones said.

In 2018, foreign direct investment in the region from US firms totalled $140 trillion, he noted.

Representatives from the US Bureau of Energy Resources also met Asean leaders in June about increasing US investment in the regional energy sector through the US Asia Edge programme.

US officials from both that bureau and OPIC stress that investments from US firms in Asean would not require Washington’s backing and thus would be free of political ambitions.

The experts in international relations say they see a political agenda clearly, though. The aim is to counter China’s growing clout in the region.

“The US private sector, especially multinational firms, have a close relationship with the government, acting as lobbyists and funding political parties,” said Piyanat Soikham, a lecturer in politics and international relations at Ubon Ratchathani University.

A regional foreign-affairs agenda involving large private corporations, such as the Indo-Pacific Strategy, is likely to have a political motive, Piyanat said in an interview with The Nation.

While China’s BRI has a clear economic and political aim to increase Beijing’s influence globally, the Indo-Pacific Strategy is more “reactive” in its bid to contain China’s influence, Arm Tungnirun, a lecturer at Chulalongkorn University’s faculty of law and author of the book “China 5.0”, said in a separate interview.

Arm also believes US private firms place more importance on political outcomes than Chinese state enterprises.

Beijing, for instance, has made it clear that BRI projects can be launched in any country, whether under democratic rule or not. But the US government and private firms will be more politically selective in choosing places to invest, he said.

Both Piyanat and Arm believe the Indo-Pacific Strategy will struggle to compete with BRI due to the changing geopolitical landscape in Asia.

“Unlike in past decades, we now live in a multi-polar world with competing geopolitical strategies,” Piyanat said.

The Indo-Pacific Strategy, he said, might not be met with open arms in the region since various countries have their own regional agendas to pursue, whereas BRI already has an established presence in developing countries here.

“The Indo-Pacific Strategy is not President Trump’s top foreign-affairs policy, unlike the importance of BRI to the Chinese government,” Arm said. “This means that the Indo-Pacific Strategy is unlikely to yield as many concrete projects as the BRI.”

It is only meant to signal to countries in the Indo-Pacific region that there is an alternative for foreign investment other than BRI. It’s meant to counterbalance China’s influence in their respective economies, he said.

Arm said this is especially the case in Southeast Asia, which has a complicated relationship with Beijing due to some nations’ overlapping territorial claims in the South China Sea.

He added that this would promote the establishment of community power plants and widen the opportunity of energy access for communities.

He will call meeting with state energy agencies in next few days to discuss the appropriate ratio of the diverse energy sources in the PDP.

He made the remark at the Bangkok Post Forum on the topic, “Roadmap to Success: Up Close with Thailand’s New Ministers”.

The ministry will also deploy the Energy Conservation Fund to support the projects, and will support the energy storage business.

Somkid met with the chamber president, Shinji Nakano, today (August 5) at Government House.

He said that the chamber survey found that the sentiment of Japanese businesses in Thailand for the first six months had dropped, due to their concerns over the US-China trade war, the stronger baht value, and the slow establishment of the new Thai government.

The sentiment picked up after the complete installation of the new government, he said.

Somkid also assured the chamber that the new government would continue the policies and agreements made between Japan and the previous Thai government.

The chamber also asked Somkid to consider carefully the plan to raise the daily minimum wage. Somkid replied that the issue would be carefully discussed by representatives of the government, private sector and labour sector.

Korbsak Pootrakool, the deputy secretary general to the Prime Minister on political affairs, said that Somkid also told the chamber that new economic stimulus packages would soon be launched to boost the domestic consumption.

The chamber told Somkid that several Japanese companies were considering relocating their production bases to Thailand due to concerns over impacts of escalating trade wars.

The chamber also invited Somkid to stage a roadshow in Japan to promote investment opportunities in Thailand. The roadshow is expected to take place in October.

Korbsak added that Somkid also ordered the Thai Board of Investment to set up a team to woo those investors worried about the trade war, to relocate their business or set up headquarters in Thailand.

These explosions are unlikely to have much impact on political stability, with the government continuing to have the support of much of the Thai establishment and the military. The resulting negative economic impact is also likely to be modest and temporary, in its view.

The explosions appear to have been intended to attract international attention on the day of a high-profile meeting of Association of Southeast Asian Nations ministers in the city rather than to do serious damage. The bombs were small devices that did little damage to property and lives.

They were also placed in locations away from heavy tourist traffic. The perpetrators did not appear intent on hurting the tourist trade, unlike those involved in the fatal Erawan Shrine explosion of 2015.

Nevertheless, the explosions are likely to increase the near-term economic pressures that the government faces. The Thai economy is likely to see real GDP growth slow to 3.5 per cent this year and to maintain this rate of growth in 2020. This would be below the approximately 4 per cent growth registered in 2017-18.

Pressures on employment growth, which had been slow in recent years, could mount to sustain the income and social divide in the country.

The rating agency believes that these divisions were key reasons behind the political uncertainties since 2006. The government’s National Strategy and National Reform Plans are policy initiatives to address these concerns The results of these measures, however, could take longer to show under weak economic conditions.

In the meantime, however, Thailand’s sovereign credit metrics remain strong at the current rating level. This should allow the government’s credit support to withstand foreseeable negative fallout resulting from the explosions.

This report does not constitute a rating action.

Located at the heart of the region’s marine industry and yachting tourism is Ocean Marina Yacht Club, the largest marina in Southeast Asia and home to the Ocean Marina Pattaya Boat Show which will take place for the eighth time from November 21-24, 2019.

“Ocean Marina Pattaya Boat Show is one of our signature marine events and has grown considerably since its launch in 2012. Visitors reached almost 6,000 last year and were up 5 per cent year on year, while overall numbers are up 183 per cent since year one,” said Napong Paripontpochanapisuti, managing director, Ocean Property Co Ltd, organisers of the Ocean Marina Pattaya Boat Show.

“We invest more than Bt10 million each year in developing the show and marketing it overseas and throughout Thailand, and we are targeting a 20 per cent growth in the number of visitors this year. Our aim is for the show to be a platform for the industry, to promote marine-related businesses and services, yachting tourism, and showcase the stunning coastline and islands along Thailand’s east coast, as well as introducing the boating lifestyle to more Thais.”

Ocean Marina Pattaya Boat Show helped to generate Bt2.5 billion of business for Thailand’s marine industry in 2018. Although the country’s tourism is currently experiencing a dip, the fundamentals remain strong and the east coast’s future looks bright with yachting tourism expected to contribute significantly to the tourism sector.

“The first four months of the year were very strong and although visitors during May and June have tapered off, the total number of tourists joining boat trips at Ocean Marina Yacht Club in the first half is up 2 per cent year on year. Chinese and Korean tourists remain the top day trippers but what is encouraging is the number of Thais who are enjoying time on the water – Thai nationals were our third largest nationality in the first half,” said Scott Finsten, the harbour master of Ocean Marina Yacht Club, organisers of the Ocean Marina Pattaya Boat Show.

This bodes well for yachting tourism on the east coast. With its proximity to Bangkok, more Thai people are holidaying on that coast and many are enjoying the boating lifestyle. Over 70 per cent of visitors to the 2018 Ocean Marina Pattaya Boat Show were Thai and more than 50 per cent of boats berthed at Ocean Marina Yacht Club are Thai owned.

“Yachting tourism on Thailand’s east coast is relatively undeveloped. Countries such as Greece, which is famous for its established charter industry, and Australia, which has a large population of domestic boat owners, outperform Thailand currently, yet neither have the tourism numbers of Thailand. Thailand expects to welcome approximately 40 million international visitors this year and Pattaya in the region of 14 million – these numbers underscore the huge potential for yachting tourism in Thailand and this is something Ocean Marina Yacht Club are focussed on developing,” added Finsten.

At this year’s Ocean Marina Pattaya Boat Show, up to 40 boats will be displayed by leading international boat brands and brokers. These will be complemented by a wide range of marine products and accessories, boat toys and gadgets, luxury properties, super cars and more. Live on-water demonstrations will take place over the four days as well as free yacht cruises, sunset cruises, sun downers, fashion shows, pop-up restaurants and lots of activities for all the family to enjoy.

The 8th Ocean Marina Pattaya Boat Show takes place November 21-24 at Southeast Asia’s largest marina, Ocean Marina Yacht Club in Pattaya. Entry is free.

“We believe that the MPC will maintain the country’s interest rate 1.75 per cent and that as the FED interest cut will have little impact on the country’s economy at this time,” Phatra Securities’ assistant managing director Pipat Luengnaruemitchai said.

He added that the country’s economy in June showed only slight growth and the two-per-cent growth in the second quarter of this year growth will be one of the factors that the MPC will consider.

“I believe that the MPC will cut the interest rate but not at the next meeting on August 7 because they will want to watch the economy in July before making a decision. I think they will choose to maintain the interest rate for now,” Pipat said.

Meanwhile, the country’s economy in the second half of this year will face more risks from both domestic and overseas factors such as the drought, which will directly impact domestic purchasing power, as well as low growth in the tourism sector.

The trade war between China and USA is also impacting exports and at best, these will only see a slight growth in the remainder of this year. All these factors will have a negative impact on the country’s economy for the second half of the year, he said.

“These factors will force the MPC to cut interest rate later on but not right away as it needs time to monitor and consider by how much to cut. It is also adopting a wait-and-see stance on how the government’s policy will boost the country’s economy in the rest of this year,” he said.

Siam Commercial Bank Economic Intelligence Center’s chief economist Kampol Adireksombat agreed, saying the MPC would have to cut interest rate to take account of low economic growth but this would probably be delayed until the September or October meeting.

“The MPC has to wait and see if the government’s policy to boost the country’s economy has sufficient impact,” he said.

He added that the latest trade war between USA and China would have a direct impact directly on the country’s export market for the rest of this year.

CIMB (Thailand)’s head of research office Amonthep Chawla predicted that the MPC will cut the interest rate in December if the economy in the third quarter remained slow and if the government’s measures did nothing to improve it.

However, the Bank of Auydhya’s chief economist and head of research division Somprawin Manprasert does not think the MPC will cut the interest rate this year, as the country’s interest rate is still lower than that of other countries.

“Although FED cut its interest rate, I believe that the MPC will not cut interest rates this year after increasing it by 0.5 per cent early this year. The country’s economy is still showing average growth of three per cent but if it goes lower, that could lead the MPC to make a decision to make a cut,” he said.

The ministry’s permanent secretary, directors-general of related departments, together with the private sector and related associations such as the Federation of Thai Industries, the Thai Chamber of Commerce, local shippers, and the Thai Bankers Association will take part in the first-ever public-private sector meeting.

“We will discuss factors that may be obstructing Thailand’s economic development, so as to find a consensus between the public and private sectors to mobilise our economy,” said Jurin.

More than 50 people are expected to take part in the joint meeting between the public and private sectors. The private associations are in the process of evaluating the current economic situation, especially the export sector. Many industries have revised down their export target from the previous 3-5 per cent growth to minus 2 per cent or zero to 1 per cent. They also would like the new government to manage the strong baht, which has appreciated continuously. They urged the government to offer tax measures to help local exporters as well as to find new markets and revive existing potential markets.

A joint committee considering the policy will comprise representatives of the EEC office, Transport Ministry officials and members of the Office of Transport and Traffic Policy and Planning. The panel will be chaired by Transport Ministry’s permanent secretary Chaiwat Thongkamkoon.