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Tourism Jump to Power Thai GDP Growth to Five-Year High in 2023

  • Thailand set for 4.2% economic growth in 2023, Prayuth says
  • About 19 million visitors forecast next year, triple 2022 pace

A faster-than-expected rebound in international visitors to Thailand is putting the country’s economy on course to return to pre-pandemic growth by next year, according to the prime minister.

Southeast Asia’s second-biggest economy will expand by 4.2% in 2023, on top of forecast growth of 3.3% this year, Prime Minister Prayuth Chan-Ocha told a press briefing after the weekly Cabinet meeting. That would match the pace in both 2017 and 2018, which represent the highest over the past decade, according to data compiled by Bloomberg.