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Thai economy continued to recover in September 2023 (BoT)
The Thai economy showed positive signs in the third quarter of 2023. Foreign tourist arrivals increased, particularly from South Korea, India, the Middle East, Europe, and China.
Key Takeaways
- The Bank of Thailand expects improvements in economic growth for the country in the third quarter, driven by increased private consumption and a recovery in the tourism sector.
- The manufacturing sector, particularly the automobile and petroleum industries, contributed to the growth in merchandise exports, while private investment and public spending declined.
- The number of foreign tourists visiting Thailand increased, particularly from countries like South Korea and India, leading to a rise in tourist expenditures.
Thailand has welcomed 20 million foreign tourists so far this year, with September seeing a notable increase in arrivals, especially from South Korea and India. Tourist expenditures have…
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