The Ministry of Finance forecasts that the Thai economy will continue to expand in 2023 as a result of the tourism sector’s recovery.
Finance Minister Arkhom Termpittayapaisith expressed optimism regarding Thailand’s future economic growth, stating that the nation is still on the road to recovery and is able to withstand global uncertainties. He anticipates the Thai economy to expand 3.4% this year and 3.8% in 2023, with inflation averaging 6%.
According to the Tourism Authority of Thailand, Thailand received 10,3 million foreign tourists between January and December, exceeding the government’s target of 10 million for the entire year. TAT anticipates that Thailand will end the year with 11,500,000 foreign visitors, as the country currently receives between 60,000 and 70,000 international visitors per day.
Authorities estimate that Thailand will receive approximately 25 million tourists in 2023, bringing the number closer to that of the years preceding the COVID-19 pandemic.