Thailand Tourism Industry Gdp

As of 2018 thailand has an average inflation of 106 and an account surplus of 75.

Tourism malaysia bribe. The industrys often forgotten ancillary workers have been devastated by the sudden drop in international tourism. The number of international tourist arrivals to thailand in 2018 reached 3812 million people up 71 percent yoy. To make matters worse thailands economy has become even more reliant on tourism accounting for almost 20 of gdp according to tanes.

Tourism remains one of the primary drivers of economic growth in thailand. Tourism is becoming the pillar industry in thailand. Tourism is an economic contributor to the kingdom of thailandestimates of tourism revenue directly contributing to the gdp of 12 trillion baht range from one trillion baht 2013 253 trillion baht 2016 the equivalent of 9 to 177 of gdp.

The sectors positive performance can be partly attributed to a number of inherent pull factors including a welcoming culture abundant natural resources biodiversity and relative affordability. The economy of thailand is dependent on exports which accounts for more than two thirds of the countrys gross domestic product gdp. Thailand itself is a newly industrialized country with a gdp of 16316 trillion baht us505 billion in 2018 the 8th largest economy of asia according to the world bank.

According to the un report thailand will be country worst affected by the. When including indirect travel and tourism receipts the 2014 total is estimated to be the equivalent of 193 23 trillion baht of thailands gdp. Though thailand contribution of travel and tourism to gdp of gdp fluctuated substantially in recent years it tended to increase through 1999 2018 period ending at 216 in 2018.

The share of travel tourism spending or employment in the equivalent economy wide concept in the published national income accounts or labour market statistics. In the first quarter of 2020 the tourism industry contributed around 1291 percent to thailands gdp. Thailands tourism industry outlook 2019 tourism is one of the most important sectors driving the thai economy which can continuously generate high income for thailand.

However infrastructure has struggled to keep up with the fast paced growth in visitor numbers a situation that has led. Thailand has large exposure as a tourism hub close to 15 per cent of gdp and it also has large exposure of the export oriented sector said kiatipong ariyapruchya senior economist for. According to a survey done by escap domestic tourism was able to contribute 29695 million baht to gdp which was 37 per cent of total gdp gross domestic product in 1983.