Thailand’s economy projected for strong recovery and growth in 2024

Thailand’s economy is in a promising state of recovery, as projections indicate a boost in both domestic demand and tourist arrivals. With the resurgence of most industries and the emergence of tech-driven sectors like electric vehicles, there is a wave of optimism that the country’s economic growth will significantly strengthen in 2024. Six industries are predicted to experience rapid growth this year, reflecting Thailand’s advancement in trade, technology readiness, and social well-being.

One of the top 10 sunrise businesses for 2024, as ranked by the University of the Thai Chamber of Commerce (UTCC), is e-commerce. Thailand’s online retail sector is projected to reach nearly 700 billion baht (US$20 billion) in 2024, an increase from an estimated 634 billion in 2023. E-marketplace giants like Lazada and Shopee are expected to shift their focus…