Veteran Thailand real estate agent Clayton Wade has developed his own economic indicator: the SBI – better known as the Sign Board Indicator – s a measure of the state of Thailand’s property and real estate industry, and by this measurement the economy is in a bad way.
He said: I have been researching this formula for many months now as I drive back and forth to Bangkok a couple of times every month, and I have determined without a doubt that the Thai economy is not going in the right direction yet and has not yet hit bottom either.
“On June 15, as I drove past the last 40 sign boards on the Motorway (Highway 7) before reaching Pattaya, I counted 19 that were blank. That represents an SBI Indicator of 47.5 percent.
“That’s right, nearly half the sign boards were completely empty.”
Wade added that if that is not a sure indication of Thailand’s current economic situation he doesn’t know what is.
Read Clayton Wade’s full blog assessing the state of the Thai economy here.
This story was written by Andrew Batt, Group Editor of Dot Property Group. Send your news, views, press releases and comments to him at [email protected].
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