The Songkran festival from April 11 to 17 is said to generate 28 billion Thai baht (880.78 million USD) to the Thai economy. (Photo: VNA) Bangkok (VNA) – The Thai Chamber of Commerce (TCC) forecastThailand’s gross domestic product (GDP) growth at 3.5 percent in 2019 if thenew government takes office by September.
Thanawat Phonwichai, Director of the TCC’s Economic and Business ForecastingCentre, said if the GDP growth does not reach 3.5 percent, it could be due topolitical unrest and the ongoing US-China trade war.
Meanwhile, the Kasikorn Research Centre estimated that increased travel by bothThai and foreign tourists during the Songkran festival from April 11 to 17 willgenerate 28 billion Thai baht (880.78 million USD) in revenue for the tourismand related sectors, up 2.2 percent year on year.
Of total estimated revenue, 12.2 billion baht is expected to come from Thaistravelling within the country and 15.8 billion from foreign tourists visitingthe country during the festival.
However, smog in the northern region is set to affect tourism, causing tourismincome to decline.
The research centre haspredicted that the number of tourists visiting Thailand throughout 2019 islikely to exceed 39 million.
The Ministry of Tourismand Sports reported that during the first two months of the year, the number offoreign tourists visiting Thailand grew 2.5 percent year on year, totalling7.29 million people.-VNA
VNA
