Tourists arrive at Suvarnabhumi airport. The Tourism Council of Thailand estimated 25-30 million tourists would visit Thailand this year. Somchai Poomlard
Thailand’s Manufacturing Production Index (MPI), which indicates the health of domestic industries, is expected to contract by 4% to 4.5% this year as tourism growth is lower than expected and geopolitical conflicts are weighing on the global economy, says the Office of Industrial Economics (OIE).
In July, the MPI was projected to contract by 2.8% to 3.8%.
GDP contraction in the industrial sector is expected to tally 2.5% to 3% this year, said the office.
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