What % Of Thai Gdp Brought By Foreign Tourism?

[Lorin]

Just was wondering what % of Thai GDP, or call it economy is based on FOREIGN tourism?

[jumnien]

5.47%

[samran]

bank of thailand, under exports would be my best guess.

[mark lamai]

i read somewhere last year it was nearer 12%

seems credible considering the millions of tourists each year.

now that's a fair chunk of money,

i don't use travel agents anymore, but i wonder what they are saying to customers enquiring about asian holidays.

some of my wealthy friends did a guided tour of vietnam/cambodia last year coz it had a taste of 'adventure',

thailand was of no interest, 'been there, done that' , and the 5 star spa spoiling thing was also of no interest.

with vietnam booming, cambodia growing very fast, laos and the potential giant burma waiting,

you do wonder about what future thailand has,

certainly it won't be as dominant as it is now.

[madjbs]

It is about 6% I beleive

Edited May 19, 2008 by madjbs

[samran]

roughly speaking for GDP accounting purposes:

foreign tourists coming in is an export

Thai residents going out are imports.

to get the net effect of tourism you need to net these two figures out....

[Macx]

Does that account for foreigners living in Thailand/buying properties/supporting wives and so on?

[jumnien]

Does that account for foreigners living in Thailand/buying properties/supporting wives and so on?

Yes, the 5.47% figure includes thai wife support.

[JetsetBkk]

If I remember correctly, (), I think rice exports are no. 1 foreign currency earner, then cars etc., then tourism.

[mahtin]

Just was wondering what % of Thai GDP, or call it economy is based on FOREIGN tourism?

What is foreign tourism - is it different from tourism?

Interesting aside from AIT last year

According to AIT President, Said Irandoust, the conference sought to answer questions that are important to understanding the development of both individual and collective well-being. It was organized under sub-themes on global perspectives, conceptualization and indicators, local interpretation, socio-economic policy and technology.

Pointing to the inadequate nature of current measurement indicators that frame the current public policy debate, such as gross domestic product (GDP) and the millennium development goals (MDGs), the conference suggested that a paradigm shift is needed to push for new indicators such as Gross National Happiness (GNH). This view looks beyond the traditional indicators of national achievement, such as economic growth and the gross domestic product of a country.

GNH is an alternative construct being advanced in the Himalayan Kingdom of Bhutan, where the king has proclaimed that "Gross National Happiness is more important than Gross National Product." The four main pillars of GNH are: cultural promotion, equitable economic development, good governance and environmental conservation.

[GuestHouse]

The four main pillars of GNH are: cultural promotion, equitable economic development, good governance and environmental conservation.

Better stick with GDP..... eh!

[thailand_tom]

i read somewhere last year it was nearer 12%

seems credible considering the millions of tourists each year.

now that's a fair chunk of money,

i don't use travel agents anymore, but i wonder what they are saying to customers enquiring about asian holidays.

some of my wealthy friends did a guided tour of vietnam/cambodia last year coz it had a taste of 'adventure',

thailand was of no interest, 'been there, done that' , and the 5 star spa spoiling thing was also of no interest.

with vietnam booming, cambodia growing very fast, laos and the potential giant burma waiting,

you do wonder about what future thailand has,

certainly it won't be as dominant as it is now.

my brother was there last year vietnam..said it was beautiful and cheap..everything is moving there and business is booming..i'm going there next year..lived in thailand 1 1/2 years..that was enough

[ade100]

I have read 6% but it really depends how you measure it. In Phuket there are the obvious tourism industry businesses like hotels and restaurants, but someone who deals in, say, roofing tiles or electrical cables, will be totally affected by the ebb and flow of the tourist industry. If you count the domino effect it is much higher.

There are many (including ex-pats) that like to think that the mighty Thailand is independent from the international community. It’s not. It’s at the mercy of market forces like any other country in the world.

[plachon]

If I remember correctly, (), I think rice exports are no. 1 foreign currency earner, then cars etc., then tourism.

Maybe.......... if you were remembering a 1960's textbook rice was the No.1 earner, followed by teak, rubber, fish, tin, etc, but not in the last 20 or so years I'd guess has rice figured as a top earner. Nowadays think more along the lines of electronics, computer processors, processed food, textiles and yes, tourism and vehicles (Detroit of the East!). Even "financial services" is a major foreign export earner for the Kingdom, surprisingly coming in at No. 2 after "Automobiles and automotive parts" (11%). Rice is important as an export and source of part-time employment for millions, but it's not the foreign currency earner it once was, compared to the fruits of industrialisation and mass tourism.

[madjbs]

There are many (including ex-pats) that like to think that the mighty Thailand is independent from the international community.

Only morons with absolutely no knowledge of economics whatsoever. Thailand's economy is based around exports, 60% of it to be precise.

Now who was it that said he didn't think Thais would be affected buy the sub prime crisis.....and that to reduce the effect further Thais should stop watching the news about it........

Edited May 20, 2008 by madjbs

[Samuian]

"Foreign trade: Thailand ran a merchandise trade surplus of US$13.9bn (fob-fob) in 2006, up from US$3.2bn in 2005, pushing the current account into surplus to the tune of US$2.2bn, from a deficit of US$7.9bn in 2005. The country has a diversified export base comprising agricultural commodities and manufactures, but 80% of exports now consist of manufactured goods, many of which depend to a large extent on imported inputs. Thailand is heavily reliant on imported oil.

"

Source:

more figures

here:

and more:

[jumnien]

One must remember that in many tourist spots such as Hua Hin, domestic tourism far outstrips international tourism.

[Chang_paarp]

------International--------International

------Visitors-------------- Revenue--------GDP

------- Millions------------B Millions--------B Millions

1997------7.22------------220754

1998------ 7.76-----------242177

1999------8.58------------253018

2000------9.51------------285272---------- 4,922,731-------5.795%

2001------10.06-----------299047

2002------10.80------------323484

2003------10.00------------309269

2004 -----10.65 ------------384360 ---------- 6,924,273------5.306%

2006------13.82-------------482319 -----------7490497.14------6.439%

Figures from TAT and other government sites. (TAT numbers are at best very soft)

This does not include the billions of Baht brought into the country by people living here supporting them selves and extended families. There have been several articles in Thai newspapers claiming the impact on the Northern Issan area is to the tune of several Billion Baht per year. Now add to that the folk with "lifestyle businesses" in the tourist areas and the others with families in the rest of the country the input from the great unwashed is significant.

For tourism numbers domestic tourism is about 20%(?) of international tourism according to TAT. Add that to the tourism value.

To put it in perspective there are a number of industries that have a bigger impact on GDP, according to figures from last year.

Automotive manufacturing, 11%

Computer and electronic manufacturing, 10.5%

Agriculture 9.6% (This dropped below 10% for the first time in 2005, and given the better prices for rice it may be above 10% this year.)

Edited to try to improve formatting.

Edited May 20, 2008 by Chang_paarp

[steveromagnino]

i read somewhere last year it was nearer 12%

seems credible considering the millions of tourists each year.

now that's a fair chunk of money,

i don't use travel agents anymore, but i wonder what they are saying to customers enquiring about asian holidays.

some of my wealthy friends did a guided tour of vietnam/cambodia last year coz it had a taste of 'adventure',

thailand was of no interest, 'been there, done that' , and the 5 star spa spoiling thing was also of no interest.

with vietnam booming, cambodia growing very fast, laos and the potential giant burma waiting,

you do wonder about what future thailand has,

certainly it won't be as dominant as it is now.

For every group of your friends, I can produce research of a group of my friends or actually statistically significant research that says Thailand will continue just fine with Tourism; not everyone wants to prop up a Junta, hang out around landmines or go to Vietnam, same as not everyone wants to keep going to Kata.

Growth markets like Russia, Middle East, India and so forth are there to prop up every disinterested farang no longer wanting to come here and hang out at 5 star spas....with higher spending to boot (TAT spending data).

Apparently going to Kao San Road is adventure for some; sailing for others. Diversity is key, and with a massive investment in infrastructure for high value tourism (med, MICE, resorts, etc) the age of it being a cheap destination for scoring hos is hopefully finally coming to an end. God help Vietnam and Cambodia as those are next on the list for the scoring hos aspect.

Edited May 20, 2008 by steveromagnino

[madjbs]

^ Yep exactly right, and the figures show that the tourism growth rate is in fact increasing, almost 6% this year!