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Analysts shrug at new scheme 9 Rather than revving up consumer spending, the key to fixing the economy is mass vaccination published : 17 May 2021 at 04:30 9 The Ying Chai Ying Dai scheme targets 4 million shoppers with high purchasing power, aiming to increase consumer spending during the pandemic. (Photo by Pornprom Satrabhaya) With a slow vaccine rollout, mounting Covid-19 cases and new variants entering the country, Thailand s economic future seems more uncertain than ever. Multiple times this year Thailand s GDP growth forecast has been lowered by both domestic and international institutions, and could end up being 1%, following a contraction of 6.1% in 2020. To combat these cratering GDP prognostications, the government unveiled an ambitious new programme to spur consumer spending and nudge upwards economic indicators this year: Ying Chai Ying Dai (the more you spend, the more you get).

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