Thai GDP in 2021 recovers from contraction in 2020, but tourism sector still nowhere near pre-pandemic levels

[webfact]

 

By Panithan Onthaworn

 

Thailand’s gross domestic product (GDP) in 2021 grew by 1.6 per cent, recovering from a 6.2-per-cent contraction in 2020, the government reported Monday. However, the country’s vital tourism sector continues to suffer as the pandemic’s impact lingers on.

 

The Office of the National Economic and Social Development Council (NESDC) released economic figures for the last quarter of 2021. The GDP in the fourth quarter rose 1.9 per cent year-on-year, following a drop of 0.2 per cent in the third quarter. 

 

The quarterly rebound was driven by increased export value, government consumption expenditure, as well as the country’s reopening in November, the NESDC said.

 

Full story: https://www.thaienquirer.com/37672/thai-gdp-in-2021-recovers-from-contraction-in-2020-but-tourism-sector-still-nowhere-near-pre-pandemic-levels/

 

-- © Copyright Thai Enquirer 2022-02-21

 

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[kotsak]

They can forget the tourism numbers they were used to have unless they scrap all restrictions. I assume someone must have enough brain cells to figure that out?

 

[tlcwaterfall]

Just now, kotsak said:

They can forget the tourism numbers they were used to have unless they scrap all restrictions. I assume someone must have enough brain cells to figure that out?

 

They are either too stupid to work it out(Likely) or too full of their own self importance and their belief that Thailand rules supreme in the tourism world.

 

 

[JonnyF]

1 hour ago, kotsak said:

They can forget the tourism numbers they were used to have unless they scrap all restrictions. I assume someone must have enough brain cells to figure that out?

 

Even if they scrap the restrictions they can forget it. The Chinese won't be coming and Thailand is somewhat of a busted flush with the Junta sucking the fun out of the place.

[Laughing Gravy]

1 hour ago, kotsak said:

They can forget the tourism numbers they were used to have unless they scrap all restrictions.

Couldn't agree more with you.

 

1 hour ago, kotsak said:

I assume someone must have enough brain cells to figure that out?

This is where we totally disagree. Nobody has any brain cells.????

[Jimbo2014]

Test and Go... must go

[sammieuk1]

Figures not reflected in the mysterious titanium Baht of course ???? 

[RichardColeman]

God help us all - nobody really wants the baht for tourism and its gone from 46 to 43 to the £, Going to really tank when tourists actually want it

[thecyclist]

2 hours ago, tlcwaterfall said:

They are either too stupid to work it out(Likely) or too full of their own self importance and their belief that Thailand rules supreme in the tourism world.

 

 

Spot on :Thais can't do anything wrong. It's the bird<deleted> farangs that are ngo. Thailand number 1,as I was told so many times by Thais. No1 at what though?? 

[thecyclist]

31 minutes ago, RichardColeman said:

God help us all - nobody really wants the baht for tourism and its gone from 46 to 43 to the £, Going to really tank when tourists actually want it

Don't think tourism has much to do with the value of the Baht. The first year of the Pandemic the Baht kept gaining with tourism in the doldrums, then it started falling for 6 months with no change in tourism. Now rising again. There are many other factors that have a greater impact on the Baht than tourism.Maybe some Economist can enlighten us. 

[Cake Monster]

3 hours ago, webfact said:

Thailand’s gross domestic product (GDP) in 2021 grew by 1.6 per cent, recovering from a 6.2-per-cent contraction in 2020, the government reported Monday. However, the country’s vital tourism sector continues to suffer as the pandemic’s impact lingers on.

Who are they kidding.

If Tourism accounted for at least 20 % of GDP, and 99 % of it was lost due to Covid, then the GDP must have grown by a massive 20.6 %

What a load of Tosh

 

[hotchilli]

3 hours ago, kotsak said:

They can forget the tourism numbers they were used to have unless they scrap all restrictions. I assume someone must have enough brain cells to figure that out?

 

Without tourism it seems Thailand is stuffed, and with the remaining restrictions on entry it will remain so this year.

[mrfill]

1 hour ago, Cake Monster said:

Who are they kidding.

If Tourism accounted for at least 20 % of GDP, and 99 % of it was lost due to Covid, then the GDP must have grown by a massive 20.6 %

What a load of Tosh

 

Whoa! Hold your battenberg.

These figures are for 2021 and show an increase over 2020 - which was even more locked down than 2021. So, as I read it, last year was not quite as terrible as the year before was.

[stigar]

4 hours ago, kotsak said:

They can forget the tourism numbers they were used to have unless they scrap all restrictions. I assume someone must have enough brain cells to figure that out?

 

Yeah..but still some foreigners going to thailand.They must be desperate or have menthal issues.

[StayinThailand2much]

2 hours ago, thecyclist said:

Don't think tourism has much to do with the value of the Baht (...)

Can just talk about personal choices. I never cared about the exchange rate when I travelled to Thailand. What was important, was, was it 'easy to travel here' (visas, other requiremenents), could I have fun and enjoy myself, and the actual costs. - Back then my favourite destination was Phuket, but at recent prices I don't bother. Plus, the 'fun factor', even before Covid-19, wasn't there anymore.

 

As long as those ridiculous arrival restrictions and procedures go on, and everything is closed, Thailand is not a place I want to go, even if the exchange rate were 45 : 1 to the dollar.

 

Edited February 21, 2022 by StayinThailand2much

[stigar]

4 minutes ago, StayinThailand2much said:

Can just talk about personal choices. I never cared about the exchange rate when I travelled to Thailand. What was important was, was it 'easy to travel here' (visas, other requiremenents), could I have fun and enjoy myself, and the actual costs. - Back then my favourite destination was Phuket, but at recent prices I don't bother. Plus the 'fun factor', even before Covid-19 wasn't there anymore.

 

As long as those ridiculous arrival restrictions and procedures go on, and everything is closed, Thailand is not a place I want to go, even if the exchange rate were 45 :  1 to the dollar.

 

I agree.Last year i bougth a heiniken beer in a pub in BKK.It costs more then a pub in norway.And here its expencive.I took 1 beer and after went to 7/11.

[ChC1]

Meanwhile, the quarantine free and more relaxed rules on entry, tourisms hyper dependent Maldives has GDP growth rate of 18% in 2021, and projected to grow 15% in 2022.

 

Maldives: Economy | Asian Development Bank (adb.org)

 

 

Thailand's GDP growth forecasted in 2021 would be the bottom of ASEAN countries and had to thank Myanmar for taking the last spot. And the current account balance forecast for 2021 is negative. 

 

Thailand: Economy | Asian Development Bank (adb.org)

 

If Thailand wants to see meaningful rebound in GDP, it has to learn from Maldives, fully recharge tourism and abolish all Covid excessive restrictions on foreign tourists. 

[ThailandRyan]

These folks have no common sense as the tourism numbers will never come close to the prior figures until they do away with the entry nonsense.  On Top of that you have to wonder as to why now all of a sudden tourism has become so important when they have continually stated that the tourism is not a significant part of the GDP.....we all know it is but they have been telling porkies for a long time.

[ThailandRyan]

6 hours ago, stigar said:

Yeah..but still some foreigners going to thailand.They must be desperate or have menthal issues.

Why the derogatory comments? Some of us are returning home after a trip outward for personal reasons.  Not Desperate, just returning to my Home in Bangkok.

[Stargeezr]

It is a good thing that Thailand still has rice fields, and has that sea salt industry, and the many fisheries.

  It is fortunate for Thailand that the country does not rely only on tourism.  I doubt that the recovery will happen until at least 2023 

or more likely in 2024 and beyond, if there is no other disaster that happens. It will be a nice day when Thailand

drops the Thailand pass and all the restrictions, like Britain is doing tonight. Guess we will have to wait until October at least for anything to

happen, as the current government is not too swift, if you get my meaning.