By Editor

 

A faster-than-expected rebound in international visitors is putting Thailand’s economy on course to return to pre-pandemic growth by next year, according to the prime minister.

 

The economy will expand by 4.2% in 2023, on top of forecast growth of 3.3% this year, Prime Minister Prayut Chan-o-cha told a press briefing after the weekly cabinet meeting. That would match the pace in both 2017 and 2018, which represent the highest over the past decade, according to data compiled by Bloomberg.

 

The tourism-reliant nation has eased Covid-related travel curbs, waived visa requirements and relaxed business restrictions to lure international travellers as soaring inflation has derailed the recovery in domestic consumption and investments.

 

About 6 million foreign visitors are expected this year — the vast majority in the latter six months. Gen Prayut said that number should more than triple to 19 million next year.

 

“We have so much optimism in our economic outlook as the rebound in international tourism has been much faster than we expected,” Gen Prayut said. Still, rising material costs and slowing in the global economy present “major challenges”, especially to exports, he said.

 

The country’s retail inflation rate in June jumped 7.66% from a year earlier, a 14-year high, boosted by surging energy costs. For the year, the government forecasts a consumer-price jump of 6.2%. That should decelerate to 2.5% in 2023, Gen Prayut said.

 

Source: https://royalcoastreview.com/2022/08/thailands-pm-says-tourist-numbers-to-triple-in-2023/

 

-- © Copyright Royal Coast Review 2022-08-03

 

- Cigna offers a range of visa-compliant plans that meet the minimum requirement of medical treatment, including COVID-19, up to THB 3m. For more information on all expat health insurance plans click here.

 

Monthly car subscription with first-class insurance, 24x7 assistance and more in one price - click here to find out more!

Apparently Thailand is unaware of the personal financial crisis affecting potential tourists from many first world countries.

 

Recession, recession, recession is hitting folks right where it hurts the most

 

 

He's SUCH an expert on all things, I have great faith in his words. BTW, we're STILL waiting for those soap operas he was going to create.

I think there's this competition to see who's of the government could come up with more rosier and fantastice predictions about tourist's number and the state of the economy of this country...

Edited August 2, 20224 yr by ezzra

His fortune teller is really earning his money....not just predicting the future, but adding numbers!

Did he read these numbers from his morning tea leaves?

Didn’t think they were interested quantity. What happened to all the high rollers that were supposed to be piling in?

So the PM has taken to smoking wacky backy now then with statements like that ????

3 hours ago, KIngsofisaan said:

Apparently Thailand is unaware of the personal financial crisis affecting potential tourists from many first world countries.

 

Recession, recession, recession is hitting folks right where it hurts the most

 

 

Be sure Thailand is very well informed about the worldwide economic crisis. 

Why these morons have to go on bragging what will happen in future for sure?

And also why he is so modest?

Why not quadruple the tourist 's figures???

A bunch of idiots. ????

8 minutes ago, micmichd said:

Be sure Thailand is very well informed about the worldwide economic crisis. 

Agreed. but do they understand it???

Que Sara Sara, The futures is not ours to see. The PM has a crystal ball now, how nice for him.

  We will all see for ourselves just how nice the Winter will be, and how many people will travel 

to a hot country to escape the cold weather.  Will there only be one war going on, or is China going to make this Winter a nightmare?

   Is that being cautiously optimistic?

 

2 hours ago, StayinThailand2much said:

Did he read these numbers from his morning tea leaves?

No, it was.......................

 

Drop the hyperbole 5x a week.

Add in reversing all recent new rules to that.

 

Welcome to Hyperbole Flip-Flop Land.

 

 

"Hello weed, bye-bye weed"

4 hours ago, KIngsofisaan said:

Apparently Thailand is unaware of the personal financial crisis affecting potential tourists from many first world countries.

 

Recession, recession, recession is hitting folks right where it hurts the most

 

 

These 'guys' walk about wearing blinkers and playing the numbers game ....

Q. Those living here, who would recommend a visit to family or friends?

My response usual is ..

A long way to travel (say from UK) and now more expensive ..

The heat here can be extreme ... Not to mention the mosquitos

Not as cheap (poor exchange rate) as it used to be ..

"The economy will expand by 4.2% in 2023, on top of forecast growth of 3.3% this year, Prime Minister Prayut Chan-o-cha told a press briefing ..........."

 

Think someone should have a word with him about lottery numbers! ????

There’s certainly pent up Western demand for holidays as the chaos in U.K. and other European airports attest. Of course here they’ll have poor understanding of the complex dynamics ,especially re the reduced capacity issues of both airports and airlines themselves. BA's further postponement until further notice ,which includes Thailand’s high season, meaning and implication will be lost on the simple minded Tourist industry officials,as will any concept of the ramifications of how to resurrect the diminished infrastructure of a decimated tourist industry. Their simplistic thinking amounts to no more than reopening a tap. 

Probably not many take on the offer to buy 1 rai of land and invest 4à Million Baht.
Where are all those rich digital nomads?
Where are all those billionaire Indians, Chinese and Russians?

Soon he will be begging to get the backpackers and sex tourists back.

Please come back, we love you tooo mut.

5 hours ago, HappyExpat57 said:

BTW, we're STILL waiting for those soap operas he was going to create.

Hang on a minute. He makes at least 1 everyday!!!! 5555????????????????????????????????

I came back from Udon 3 days ago and saw lots of Thai Airways planes parked in a line.
Aren't they busy?

Would also be good if the intelligence of the government would triple also.

Edited August 3, 20224 yr by tomacht8

5 hours ago, HappyExpat57 said:

He's SUCH an expert on all things, I have great faith in his words. BTW, we're STILL waiting for those soap operas he was going to create.

I suspect just like every other leader on planet earth he would have advisors

10 minutes ago, tomacht8 said:

Would also be good if the intelligence of the government would triple also.

What's 0x3?

Still 0.

Hey man, this weed is good sh$t!

Good! PM;  Would you give me please the winning lottery number for this Christmas.. Please?

Triple isn't much of a stretch, since only about 2m have arrived so far.

 

6m for the year is definitely a stretch, and 3x that ... dream on.

Some more numbers : 55555555555555

 

And they still make it up!

As with all of these government predictions, they are way too optimistic and take no note of the fact that a worldwide recession is probably on our doorstep.  Recent announcements by major companies indicate massive layoffs in the coming months.  As usual, Thailand is never very realistic.  Optimism is good, but reality is better.

5 hours ago, KIngsofisaan said:

Apparently Thailand is unaware of the personal financial crisis affecting potential tourists from many first world countries.

 

Recession, recession, recession is hitting folks right where it hurts the most

 

 

Let us not forget inflation, inflation, inflation. People have little disposable income to spare for traveling. 

While the rest of the world is struggling including China the Thai PM has put his rose tinted glasses on and spewed out how good 2023 is going to be in Thailand . What will he come up with next