Carved soap and other items for sale to tourists are seen at the crowded Hua Hin Walking Street market on Wednesday. (Photo: Dave Kendall)
The Thai economy is expected to grow by 3.6% this year, up from 2.6% last year, supported by stronger private consumption, a recovery in the tourism sector and strong pent-up demand following China’s reopening, the World Bank said on Friday.
The 2023 outlook was unchanged from a forecast in December, and compared with 4.1% growth predicted in September.
The World Bank projects economic growth of 3.7% in 2024.
Foreign tourist arrivals are expected to rise to 27 million this year and “surpass the pre-pandemic level by 2024”, the World Bank said in a report.
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