According to the Fiscal Policy Office (FPO), a unit under Thailand’s Finance Ministry, the 2022 economic growth outlook has risen to 3.4%, owing to the “Thailand Pass” registration scheme being lifted, increasing the number of foreign tourists in Thailand for the first nine months of 2022 to about 5.7 million. The growth is also partly due to the recovery in private consumption.
Exports this year also continued their growth and are expected to rise 8.1%, thanks to the higher requirement for food products and the improvement of the shortage of production parts in the electronics industry.
In 2023, the FPO predicts higher economic growth of 3.8%. Foreign tourists are projected at 21.5 million, especially those from Asia, Europe, and the United States. (PRD)