Thailand is witnessing tourist inflow but a long road to go

Monday, November 15, 2021

The tourism industry of Thailand is returning but in a slow manner. In the past 2 weeks, the expected tourist inflow in Thailand has almost been closer to a trickle; businesses are seeing a major uptick in their sales. However, it will take at least three more years to bounce back to the levels of pre-pandemic times even though the country prepares to ease restrictions on vaccinated travelers from this month, according to Standard Chartered Bank Plc.

The slow revival of tourism, the sector that accounts for about 15% of the gross domestic product of Thailand means growth in Southeast Asia’s second-largest economy will remain weak for the coming two years. To quote Tim Leelahaphan, an economist at Standard Chartered’s Thai unit, wrote in a report Friday. “The Thai economy will struggle to recover without an improvement in the tourism sector,” Tim said. “This may keep economic growth weak in 2022-23, although a low base should provide support.”

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