Tourism

Thailand, already a tourism powerhouse, is expected to see a 6.4% annual growth of tourism’s contribution to GDP through 2020, outpacing the world average. The country will benefit from the economic development of nearby China and India, where outbound tourism is exploding. Thailand’s hope for the medium-term is to boost per-visitor revenue, encouraging luxury tourism without damaging its reputation as a value destination. It is also looking to expand its repertoire beyond the traditional offerings of beaches and temples. There are plans in the works for a Cartoon Network theme park and proposals for an ASEAN family theme park. In the sports arena, golf is an increasingly popular draw for foreign tourists, and there are plans for a Formula 1 circuit.