Skip to content
Subscriber Only
Markets
Economics

Thailand Sees Faster Economic Growth as Tourism Sector Reopens

  • Finance Minister expects Thai economy to expand 4.5% next year
  • Wider tourism, business reopenings expected in coming months
Visitors take photos at Tha Phae Gate during the Loy Krathong festival in Chiang Mai on Nov. 19.

Visitors take photos at Tha Phae Gate during the Loy Krathong festival in Chiang Mai on Nov. 19.

Photographer: Andre Malerba/Bloomberg

The Thai economy is set to expand as much as 1.2% this year with the reopening of its key tourism sector, exceeding the Finance Ministry’s earlier forecast of 1%.

The country’s nationwide reopening to vaccinated visitors that started this month boosted economic activities in the fourth quarter, said Finance Minister Arkhom Termpittayapaisith, adding that next year’s growth could reach as much as 4.5%, exceeding the ministry’s earlier forecast of 4%.