Thailand’s economy is improving on the back of resilient domestic demand and a sustained rebound in tourist arrivals. Inflation has declined rapidly this year, according to the 2023 Annual Consultation Report on Thailand published by the ASEAN+3 Macroeconomic Research Office (AMRO).
However, the country’s outlook is uncertain due to the external headwinds amid upside risks to inflation. Over the longer-term, Thailand is beset by structural challenges and weaker long-term growth potential, alongside increased complexities from ongoing geoeconomic shifts and climate change risks.
Key Takeaways
- Thailand’s economy is showing signs of improvement, driven by resilient domestic demand and a rebound in tourist arrivals.
- Inflation in Thailand has decreased significantly due to declining oil and commodity prices, but there are potential risks of inflationary pressure from higher fiscal…
