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 […]
Thai Airways International reported a net profit of 2.2 billion baht ($62.6 million) for the April-June quarter, a significant improvement from the 3.2 billion baht net loss in the same period last year. The airline’s turnaround was driven by increased demand for flights to China and Japan, as well as strong performance on routes to […]
The Bank of Thailand (BOT) is considering revising down its growth forecasts for the country due to weak export performance. The initial projection of 3.6% growth for this year may be adjusted to the mid-3% range. The slowdown in economic momentum is mainly attributed to underperforming exports, which have been affected by global challenges. However, […]
The Bank of Thailand has raised its key interest rate to a nine-year high of 2.25% due to concerns about rising prices. Despite inflation easing and falling below the central bank’s target, policymakers aim to ensure it remains low. The central bank expects the economy to continue growing, driven by tourism and private consumption, but […]
The Thai Finance Ministry has revised its economic growth outlook for 2023 to 3.5% from 3.6% due to weaker global demand for exports. The ministry also predicts a 0.8% contraction in exports this year. However, the economy has been supported by increased domestic consumption and a recovery in the tourism sector. The ministry maintains a […]
Thailand has welcomed one million Chinese tourists in the first four and a half months of 2023, according to a government official. This is a sign of recovery for the tourism sector, which was hit hard by the COVID-19 pandemic. In 2019, before the pandemic, Thailand received 11 million Chinese tourists, who accounted for 28% […]
Retail, banking and tourism sectors are expected to benefit from the policies of the new coalition government in Thailand, which is led by the Move Forward Party. The party won the most seats in the general election held on May 14, 2023, ending nine years of pro-military rule. The retail sector is likely to benefit […]
This article was originally published on Thailand Beats 2022 Tourism Target With 11.15 million Foreign Arrivals The figure was higher than expected and represents a significant improvement for Thailand’s crucial tourism sector, which had been severely hampered by the pandemic’s rigorous entrance and quarantine regulations. This article was originally published here: Thailand Beats 2022 Tourism […]