Increase in tourism activities and vaccination in Thailand convinces growth this year
The Bureau of Fiscal Policy now forecasts weak economic growth for 2021 due to the improving COVID-19 situation, with external factors such as the price of oil and financial fluctuations continuing to be a challenge.
The Fiscal Policy Office (FPO) has released its latest national economic projection, with overall growth of 1% this year, and an expected 16.3% growth in the export sector.
FPO chief executive Pornchai Thiraveja said economic activities were becoming more active, thanks to increased vaccination coverage and the plan to reopen the country to international visitors.
The tourism sector, retailers, wholesalers and the transport sector are particularly benefiting from the improving economic situation, while domestic consumption is boosted by government campaigns of co-payment, electronic vouchers and credit cards. welfare.
The FPO now predicts that Thailand’s economy will grow by 4% next year thanks to the post-pandemic recovery in tourism and increased international travel. The office expects 7 million international tourists to visit Thailand next year, along with 3.8% growth in the export sector, which will play a major role in the recovery of businesses, employment and domestic consumption.
The FPO also notes that several external factors must continue to be closely monitored, from the emergence and spread of new COVID-19 variants to international logistical constraints, rising crude oil prices, inflation and global economic fluctuations. (NNT)