The Director General of the Fiscal Policy Office (FPO) has voiced his confidence that the recent lifting of the Emergency Decree will most likely attract more tourists to the nation.
According to Somchai Sajjapong, the nation’s private investment is currently lacking and the government’s ability to disburse budget is still limited.
In addition to the export sector, the sole driving force left since political conflicts erupted last November, the tourism sector will contribute to the nation’s economic recovery once it fully recovers.
About 50 countries have issued warnings to their citizens against traveling to Thailand as the political turmoil escalated to its peak earlier this year. As a result, Thailand lost 4.5 million tourists during the first 2 months of 2014, he said, adding the majority of them are Hong Kong visitors.
If the political crisis continues till the end of this year, the nation’s GDP growth will be under 3%, added Somchai.