The lack of foreign tourist arrivals presents a major risk to Thailand’s medium-term economic growth outlook, with a near-term recovery dependent on the resolution of the recent outbreak and fiscal support, says the Bank of Thailand.
The recovery of foreign tourist arrivals could be influenced by many factors, including a plan to reopen the country, the status of the outbreak and the effectiveness of the vaccines, according to the central bank’s Monetary Policy Committee (MPC) in its edited minutes.
“External factors that could affect the pace of border reopening include travel restrictions from China and virus mutations that could reduce vaccine efficacy,” said the minutes.
“Important…
