Tourism Keeps Thailand’s Economy Strong
PHOTO: Phuket, Thailand. (Photo courtesy Thinkstock)
Thailand’s strong tourism growth is one of the factors that is keeping the country’s economy on track. The country is experiencing a record tourism growth, according to Reuters.
Thailand relies on its trade economy, which has been hit hard by a “deteriorating global economic environment” and a slowdown in demand for exports. But the strong tourism economy is keeping the country on track for the year.
"We are on track," Veerathai told Reuters in an interview on Friday. "We'll have to monitor the secondary impacts of Brexit. Certain sectors of our economy have been hit by China's transition. But we expect to see better government disbursement for large projects in the second half of the year."
Even though exports have contracted, tourism has helped to keep the economy on track, growing 0.9 percent in the first quarter and 3.2 percent so far for the year.
To find out how Thailand is stimulating further economic growth and how that will help its tourism industry, read more here.
More by Janeen Christoff
Get Travel Deals and Travel News
Recent Travel Opinions
Cruise Line & Cruise Ship
Airlines & Airports