Tourism recovery hoped to help with Thailand’s growth

27/02/2023 17:32

The recovery of tourism, an important sector of Thailand, is expected to help this country’s economy grow 3.8% in 2023, an official has said.

Tourism recovery hoped to help with Thailand’s growth ảnh 1

A parade in the Songkran Festival in Ayutthaya province of Thailand (Photo: Xinhua/VNA)

Bangkok (VNA) – The recovery of tourism, an important sector of Thailand, is expected to help this country’s economy grow 3.8% in 2023, an official has said.

Meanwhile, inflation should cool to its target range, Finance Minister Arkhom Termpittayapaisith told a recent Radio Thailand programme.

Domestic spending has increased and the government will step up investment in large projects to support growth, he said, noting that as the global slowdown hurts exports, tourism is Thailand’s hope.

The Ministry of Finance has predicted 27.5 million foreign tourist arrivals in Thailand this year, compared to 11.15 million visitors in 2022.

Economic growth could beat forecasts, with the return of Chinese tourists, according to the official.

Besides, headline inflation should return to the central bank's target range of 1% to 3% in 2023, helped by government measures and lower food prices, Arkhom said.

Thailand recorded inflation of 6.08% in 2022, the highest in 24 years./.

VNA