Tourism remains one of the primary drivers of economic growth in Thailand. The sector’s positive performance can be partly attributed to a number of inherent pull factors, including a welcoming culture, abundant natural resources, biodiversity and relative affordability. However, infrastructure has struggled to keep up with the fast-paced growth in visitor numbers, a situation that has led to...
Thailand Tourism
In its April 2018 Economic Monitor for Thailand, the World Bank reported that GDP growth accelerated to 3.9% in 2017, from 0.91% in 2014, 2.94% in 2015 and 3.23% in 2016. This was the fastest expansion since the 7.24% recorded in 2012, and was driven by strong global growth, increased export revenue and a modest recovery in private consumption.
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In its April 2018 Economic Monitor for Thailand, the World Bank reported that GDP growth accelerated to 3.9% in 2017, from 0.91% in 2014, 2.94% in 2015 and 3.23% in 2016. This was the fastest expansion since the 7.24% recorded in 2012, and was driven by strong global growth, increased export revenue and a modest recovery in private consumption.
Tourism remains one of the primary drivers of economic growth in Thailand. While manufacturing and exports are sluggish and consumer demand weak, visitor numbers were up in 2016 and are expected to hit new records in 2017. After a slight dip in 2014, the upward trend seems to have been re-established. Looking ahead, tourism will remain an important part of the Thai economy and is expected to...
Despite considerable geopolitical volatility, Thailand’s economy remains well diversified, stable and poised for expansion in 2017.
Endless white sandy beaches, inexpensive accommodation, tasty cuisine, exotic jungle treks and friendly locals have all propelled Thailand to its reputation as a quintessential tropical tourism destination, not only within the region but across the globe. Marketing campaigns headed by the Thai government and private sector have helped cement the industy’s position as the fourth-biggest...
The second-largest economy in ASEAN after Indonesia, Thailand has developed a positive international reputation on the back of its pro-investment policies and well-developed infrastructure, standing as one of the most liberalised and business-friendly markets in the region.
Despite the political and social challenges that marked late 2013, Thailand’s economy has remained stable and is poised for further growth in the coming years. However, concerted action by the public and private sectors will be needed for the country to avoid the middle-income trap of stagnating productivity and to maintain its stance as a top Asian economy.