Tourism recovery hoped to help with Thailand’s growth

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.

Monday, February 27, 2023 17:32

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, animportant sector of Thailand, is expected to help this country’s economy grow3.8% in 2023, an official has said.

Meanwhile, inflation should cool to its target range, FinanceMinister Arkhom Termpittayapaisith told a recentRadio Thailand programme.

Domestic spending has increased andthe government will step up investment in large projects to support growth, hesaid, noting that as the global slowdown hurts exports, tourism is Thailand’shope.

TheMinistry of Finance has predicted 27.5 million foreign tourist arrivals inThailand this year, compared to 11.15 million visitors in 2022.

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

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

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

VNA

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