The World Bank reported on Friday (March 31) that the Thai economy is expected to grow by 3,6% this year. This is an increase compared to last year's 2,6% growth.
This growth is supported by stronger private consumption, a recovery in the tourism sector and strong pent-up demand following China's reopening. The outlook for 2023 is unchanged from the forecast in December and corresponds to growth of 4,1%, as predicted in September.
In a report, the World Bank said the number of foreign tourists visiting Thailand is expected to rise to 27 million this year. Tourist numbers are expected to surpass pre-pandemic levels of 2019 by 2024. Southeast Asia's second-largest economy received 11,15 million foreign tourists last year, compared to nearly 40 million in 2019, before the pandemic.
The World Bank added that investment will continue to grow. However, exports of goods in dollar terms are expected to contract by 1,8% this year due to the global economic slowdown.
Source: NNT
About this blogger
-
Known as Khun Peter (62), lives alternately in Apeldoorn and Pattaya. In a relationship with Kanchana for 14 years. Not yet retired, have my own company, something with insurance. Crazy about animals, especially dogs and music.
Enough hobbies, but unfortunately little time: writing for Thailandblog, fitness, health and nutrition, shooting sports, chatting with friends and some other oddities.
Read the latest articles here
HotelsJanuary 13 2025Escape to luxury and nature at Roukh Kiri Khao Yai
EconomyJanuary 11 2025Thailand strengthens economy with ambitious trade policy
Money and financeJanuary 11 2025SCB Financial Markets publishes outlook for financial markets in 2025
Flight ticketsJanuary 11 2025Major disruptions expected at Brussels Airport due to national protest action on Monday