Meanwhile, an economic slowdown in Japan, the United States and the European Union, which have average growth of 2 per cent, is another risk factor that affects exporters.

Oil prices are also not yet stable, although the price decreased slightly in the last quarter of this year. If the price happens to rise again, manufacturers will immediately encounter rising costs.

Pradit suggested business people ensure they have good risk management by closely monitoring all movements and making quick and precise decisions, particularly those related to currency exchange and currency risk management, such as the futures market.

They should also differentiate their products from competitors by focusing on quality, always looking for new markets to penetrate and increasing manufacturing competitiveness.

A positive factor for next year is the US generalised system of preferences, under which the US has extended the period for Thai products for two more years. This will benefit exporters that send products to the country. From the total $3.5 billion (Bt124.42 billion) export value to the US last year, 19 per cent was contributed under the preferences system.

Pradit also estimated that domestic consumption will be stimulated by inflation that tends to be more stable, lower product prices caused by reduced production costs for those who have to import raw materials and lower imported prices for finished products.

"The travel businesses and Thai restaurants continue to be promising businesses next year," Pradit said.

Dr Vorapol Socatiyanurak, the National Economic and Social Advisory Council's deputy chairman and Nida lecturer at the Graduate School of Business Administration, estimated that GDP growth next year will be 4-5 per cent.

However, he suggested business people keep following the movement of the baht, oil prices and interest rates.