The three-day TGTM 2023 is set as a centre stage for Thai golf businesses to network and discuss business opportunities with overseas golf-holiday specialists.
Tourism, Spending in Thailand Increases in May, Led By Strong Q1
25.08.2023 - 13:19 / skift.com
Thailand’s economy in May improved from the previous month as tourism gathered momentum and private consumption increased while exports remained weak, the central bank said on Friday.
Economic activity was seen rising steadily with tourist arrivals still increasing, the Bank of Thailand (BOT) said in a statement. The BOT expects economic growth at 3.6% this year and 3.8% next year, with the tourism sector a key driver.
In May, Thailand recorded a current account deficit of $2.8 billion, after a revised deficit of $0.6 billion the previous month, the BOT said on Friday.
Exports, a key driver of growth, dropped 5.9% year-on-year in May, from a 4.9% year-on-year drop the previous month.
Skift Research reports complete travel recovery as the current Travel Health Index has topped 100, indicating that global tourism is now performing better than it did before the pandemic. Every region in the index has grown, and meeting professionals must take note.
Southeast Asia’s second-largest economy expanded by a more than expected 2.7% in the first quarter from a year earlier as the vital tourism sector gathered strength.
Global financial market volatility and the formation of a new government and its policies would be monitored going forward, the BOT said.
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