The tourism sector is helping Thailand in boosting its economy after sluggish business activity seen in past months due to the COVID pandemic.
Bank of Thailand reported its current account deficit as 400 Million USD in November 2022 after being revised surplus of 600 Million USD the last month.
Exports are seen to drop 5.5% YOY in November 2022 because of many factors like COVID, and the slow economic global globally however it is expected that exports might rise to 7.7% next year.
With all the ongoing economic troubles, Thailand is still seeing a rise in tourists post-COVID. Thanks to the local population in adding consumption levels thus creating economic activity.
As China has eased its COVID policies, prospective tourists have flocked to buy tickets to Thailand in order to celebrate New Year 2022. It may help Thailand to ease some of its Economic woes.
Major global issues like Ukraine Russia war have also led to less economic activity. As people all across the world tend to save instead of spend. Hoping that the new year brings economic prosperity to Thailand.
