Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Bangkok Post
Bangkok Post
Business

Economy in recovery, bolstered by tourists: Arkhom

Tourists sit in bars on Khao San Road in Bangkok on Dec 9, 2022. (AFP photo)

Thailand's economy is still on the recovery path and should grow 3.4% this year and 3.8% next year, supported by a rebound in its vital tourism sector, the finance minister said on Wednesday.

Southeast Asia's second-largest economy can weather global uncertainties, while average inflation should come in at 6% this year, Arkhom Termpittayapaisith said at a World Bank event.

Last year's economic growth of 1.5% was among the slowest in the region and the country's tourism sector only started to show signs of new growth this year.

From January to Dec 12, Thailand recorded 10.3 million foreign tourist arrivals, breaking through a government full-year target of 10 million, Yuthasak Supasorn, governor of the Tourism Authority of Thailand, told a separate business seminar.

As the country is now seeing 60,000 to 70,000 foreign tourists per day, it should end the year with 11.5 million foreign visitors, he said.

For 2023, the tourism authority earlier said the kingdom could see about 25 million foreign tourists if Chinese tourists returned.

Thailand saw only 428,000 foreign tourists last year, compared with nearly 40 million in pre-pandemic 2019.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.