Finance Ministry Anticipates Thailand’s Economic Growth in 2023

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BANGKOK (NNT) - The Ministry of Finance anticipates that the Thai economy will continue to grow in 2023, thanks to a rebound in the country’s tourism sector.

 

Finance Minister Arkhom Termpittayapaisith expressed his optimism for Thailand’s future growth, stating that the country is still on the road to recovery and is strong enough to weather global uncertainties. He expects the Thai economy to grow 3.4% this year and 3.8% in 2023, with average inflation of 6% this year.

 

According to the Tourism Authority of Thailand, from January to December 12, Thailand received 10.3 million foreign tourist arrivals, exceeding the government’s full-year target of 10 million. TAT anticipates Thailand to complete the year with 11.5 million foreign visitors, as the country currently welcomes 60,000 to 70,000 international visitors daily.

 

Authorities believe Thailand could welcome about 25 million visitors in 2023, bringing the figure closer to the number of tourist arrivals prior to the Covid-19 pandemic.

 

Source: https://thainews.prd.go.th/en/news/detail/TCATG221215105653135

 

-- © Copyright NNT 2022-12-15

 

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Meanwhile,the population sees a steady decline in their purchasing power.