Thailand’s economy grew at its fastest at 4.5 percent YoY in the third quarter, which is attributed to tourism recovery and private consumption.
For months, Thailand had exercised regulations for visitors, such as quarantining, causing the tourism contribution to GDP to drop significantly. Impact on the society in Thailand The COVID-19 pandemic also impacted the ways of life of Thai people. Apart from additional concerns for their health...
In 2024, the gross domestic product (GDP) in Thailand was estimated to grow by 2.4 percent from the previous year. During the given period of time, the growth rate of GDP of the country has been fluctuating. Annual growth rate of the gross domestic product (GDP) in Thailand from 2021 to...
Share The Tourism Authority of Thailand (TAT) is aiming to increase tourism revenue in the country by 7.5% next year. “TAT has set a target of no less than a 7.5% increase in tourism revenue for 2025, or 1.7 times higher than Thailand’s GDP growth forecast for the year. This is ba...
, driven mainly by an increase in private consumption and investment. However, the headwinds from theCovid-19pandemic have severely affected the nation’s merchandise and services exports — especially so in the tourism sector, which is responsible for almost one‑fifth of the country’s GDP....
4.5 percent, and in the first 9 months grew by 3.1%. Thailand’s GDP in 2023 will expand approximately 3 – 4 %, and the economy is likely to improve from 2022 supported by the expansion of domestic demand, the increase of the production sector, and the recovery of the tourism sector....
Thailand’s economy and economic development. It contributed over 3 trillion baht (US$94 billion) to Thailand’s economy in 2018, with two trillion baht coming from international visitors and one trillion baht from domestic tourism, representing 19 per cent of Thailand’s overall GDP,” he ...
The Thai economy in 2024 is still recovering slowly and growing below expectations. The Bank of Thailand has lowered its GDP forecast for 2023 and 2024 to 2.4% and 3.2%, respectively. However, if the Digital wallet project is included, the GDP growth in 2024 could reach 3.8%. Tourism, whi...
Tourism was expected to contribute17 to 18 percent of Thailand’s GDP in 2017. But while travel in the country is often associated with shopping, temples, and coconut ice cream, local startups are changing tourism as usual. Take for exampleLocal Alike, which combines social responsibility with...
about 46% of the labor force. Within services, transportation, wholesale and retail trade (which includes repair of motor vehicles and motorcycles as well as personal and household goods), and tourism and travel-related activities have been prominent contributors to GDP and generators of employment....