The Finance Ministry on Friday trimmed its 2022 economic growth outlook to 3.4% from 3.5% projected earlier, with the main drivers being a recovery in private consumption and the crucial tourism sector, Fiscal Policy Office (FPO) director-general Pornchai Thiraveja said.
The ministry predicts higher economic growth of 3.8% next year, Mr Pornchai said. The tourism-reliant country is expected to receive 10.3 million foreign arrivals this year, up from the 8 million projected three months ago, he said, adding a weak baht was helping the tourism sector.
The FPO chief said toreign tourist numbers are projected at 21.5 million in 2023. There were nearly 40 million foreign tourists in 2019 before the Covid-19 pandemic, and their spending was estimated at 1.91 trillion baht (US$50.64 billion).
