The latest economic figures for Thailand released by the National Economic and Social Development Council (NESDC) for the second quarter of this year show a modest expansion of 1.8%, which is lower than the Bank of Thailand’s (BoT) expectations. This signals that BoT may have to revise its growth projections downwards.
According to the Bank of Thailand’s Governor Sethaput Suthiwartnarueput, the Thai economy in the second quarter of this year grew more slowly than anticipated due to such external factors as lower tourist spending compared to forecasts. Chinese tourists, in particular, visited Thailand in fewer numbers than expected, and exports recovered more slowly than hoped.
However, despite the slower growth, the Thai economy is still on a continuous path of recovery, driven mainly by tourism. It is estimated that the number of tourists this year will reach the target of 29…
