Thai economy boosted by increased tourism, domestic consumption

 Friday, February 3, 2023 


Boosted by increased tourism and domestic consumption, Thailand’s economic recovery maintained its foothold in December, Reuters noted based on a Central Bank statement. However, exports were affected by the slowing economies of trading partners.

The Bank of Thailand said in a statement that it would monitor the global economy, costs and China’s reopening adding that economic activity was likely to improve steadily as the vital tourism sector gained momentum.

Tourism has performed better than earlier expected as China reopened sooner than thought, Reuters cited Assistant BOT Governor Chayawadee Chai-Anant saying during a news conference.

With China’s reopening, the prediction by the government for arrival of Chinese tourists in 2023 has been put at least five million.

Last week, the BOT out forth its projections for foreign tourist arrivals which are 25.5 million for this year and 34 million for next year, up from 22 million and 31.5 million, respectively. It is to be noted that that there were nearly 40 million visitors in pre-pandemic 2019.

In 2022, Thailand beat its tourism target with 11.15 million foreign visitors, a surge from less than half a million in the previous year.

« Back to Page

Related Posts



Subscribe to our Newsletter

I want to receive travel news and trade event update from Travel And Tour World. I have read Travel And Tour World's Privacy Notice.

Mar 23
Mar 24
March 24 - March 26
Mar 24
Mar 24
March 24 - March 26