THAILAND is expected to see modest economic growth in 2021, with international tourism expected to remain flat, according to a Citi report.
“We do not expect international tourism to contribute to GDP growth in 2021 as a base case,” Citi economists said.
Tourism revenues could come close to that of 2020, the report said, which would be an estimated US$10.2 billion based on the 6.7 million arrivals in 2020. This is equivalent to 2.1 per cent of gross domestic product (GDP) in 2020.
“Admittedly, the 2021 scenario may require several assumptions with factors that remain fluid to date: global pandemic situation, timing of vaccines availability, the speed of border reopening at home and abroad, as well as the provision of quarantine facilities locally to provide for the return of safe tourism,” said Citi economists.
They are expecting GDP to grow 4 per cent in 2021, after shrinking 6.8…
