Thailand’s dependence on foreign tourists has risen as its exports slump to the lowest in five years.
Exports were about $212 billion last year, a decline of about 6 percent from 2014 and the least since 2010, according to calculations based on December data reported today by the Ministry of Commerce. By contrast, the number of foreign tourists rose 19 percent from a year earlier, to a record 29.9 million, according to the latest forecast by the tourism ministry.
Sparked by a surge in Chinese visitors to seaside resort cities including Phuket and Pattaya, Thai tourist arrivals have more than doubled since 2009. The central bank will give its trade-data report on Friday, in which some economic figures may be revised.