China will allow visa-free entry for foreign tourist groups arriving by cruise ship at 13 ports starting May 15, 2024. Visitors must stay with the same ship and in permitted areas for up to 15 days, aiming to boost tourism and facilitate cruise industry growth. China’s Visa-Free Entry for Tourist Groups by Cruise Ships China […]
Thailand’s economy struggles to recover post-pandemic, with slow GDP growth. Government implements short-term cash payments and debt relief, along with long-term policies like free trade agreements and industrial changes. Thailand’s Economic Slowdown Thailand’s economy is struggling to recover from the impact of the COVID-19 pandemic, with slow growth in GDP and GDP per capita. Unlike […]
Cambodia’s real GDP growth is predicted to be 5.8% in 2023 due to a recovery in tourism. Inflation should ease and fiscal policy will support consumption and investment, although export growth may slow. Potential risks include slower growth in Mainland China affecting tourism and investment. Key View We forecast real GDP growth of 5.8% in […]
Thailand plans to allocate $16.5 million towards promoting its tourism industry during the peak season. The allocation will be used for marketing campaigns, festivals, inter-regional travel, and extending visa-free regimes and stay durations for certain markets. The government also aims to collaborate with airlines for joint tourism promotions and extend entertainment venue hours in popular […]
Cambodia’s real GDP is expected to grow by 5.8% in 2023, driven by a recovery in tourism. Easing inflation, supportive fiscal policies, and slower export growth are also factors. Risks include slower growth in China. Key View We forecast real GDP growth of 5.8% in Cambodia in 2023, up from 5.2% in 2022, driven primarily […]
The State Bank of Vietnam (SBV) has officially joined the Regional Payment Connectivity (RPC) initiative, expanding the memorandum of understanding signed by central banks of Indonesia, Malaysia, Philippines, Singapore, and Thailand. The RPC aims to enhance cross-border payments, making them faster, cheaper, and more inclusive. The inclusion of SBV brings the number of ASEAN central […]
Thailand’s new Prime Minister, Srettha Thavisin, is looking to boost tourism revenue by easing visa rules for Chinese and Indian travelers and allowing longer stays for visitors from all countries. The current visa application process for Chinese tourists is costly and cumbersome, while Indian travelers have to pay for a visa on arrival. The government […]
The Thai economy grew slower than expected in the second quarter, with weaker exports offset by strength in tourism. The government has revised its GDP growth forecast for 2023 to 2.5% to 3.0% due to slower exports. The economy grew 1.8% in the April-June period, below economists’ expectations. The tourism sector and private consumption have […]