Thailand’s economy is projected to expand 3.9% in 2023 from 2.6% last year because of stronger demand from China, Europe and the US, private consumption growth and a recovery in tourism, says the World Bank in its semi-annual Thailand Economic Monitor.
Growth is expected to moderate to 3.6% next year and 3.4% in 2025, with tourism and private consumption remaining the primary drivers of growth while external demand weakens, according to the report.
Inflation is expected to ease in 2023 to 2% as global energy prices dip and face price caps, although when volatile food and energy prices are excluded, core inflation remains higher than before the pandemic.
The return of tourists, particularly from China, has strengthened the outlook for the industry.
Arrivals are projected to tally…
