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News: Thailand triumphs over adversity

Mon, 02 Jul 07

Thailand has overcome the tragedy of the Tsunami and the conflict of the recent coup and currently rides the wave of a tourism boom...

Scores of investors are taking full advantage of the superb rental opportunities Thailand’s soaring tourism offers, propelling the country to seventh position in Currencies Direct’s Global Emerging Markets Index.

Mark O’Sullivan, head of trading at Currencies Direct, said: “Thailand’s tourism and property markets undoubtedly suffered as a result of the Tsunami disaster in 2004.

“However, it has proved its resilience and recovered remarkably well since, with property value appreciation currently standing between 10-15 per cent per annum.

“Following the military coup last year, Thailand and the Baht have recovered and the upcoming elections should provide a stable investment environment going forward.

“Sterling/Thai was trading as high as 72.00 a year ago, but has weakened slightly, however, it still buys more than 64Thb, and with the continuing strength of sterling we should trade comfortably above 60Thb throughout the rest of 2007.”

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