Despite myriad challenges in the year to come, the economy is expected to maintain its growth momentum in 2023 boosted by recovering tourism, expanding private and public investment, continual gains in domestic demand and high growth in the agricultural sector.
According to Danucha Pichayanan, secretary-general of the National Economic and Social Development Council (NESDC), the agency projects the economy to expand by 3-4% (an average of 3.5%) next year, up from projected growth of 3.2% this year and a 1.5% uptick in 2021.
Tourism revenue is forecast to increase to 1.2 trillion baht from 23.5 million foreign tourist arrivals in 2023, up from 570 billion baht from 10.2 million foreign arrivals in 2022.
