Tourism Recovery To Drive Robust Short-Term Growth In Cambodia
Economics Press Release Tourism

Strong Tourism Recovery Expected to Fuel Cambodia’s Robust Short-Term Growth

Cambodia’s real GDP growth is predicted to be 5.8% in 2023 due to a recovery in tourism. Inflation should ease and fiscal policy will support consumption and investment, although export growth may slow. Potential risks include slower growth in Mainland China affecting tourism and investment. Key View We forecast real GDP growth of 5.8% in […]

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Thailand plans to invest $16 million in initiatives to revive the tourism industry
Business Tourism

Thailand’s Tourism Industry to Receive $16 Million Investment for Revitalization

Thailand plans to allocate $16.5 million towards promoting its tourism industry during the peak season. The allocation will be used for marketing campaigns, festivals, inter-regional travel, and extending visa-free regimes and stay durations for certain markets. The government also aims to collaborate with airlines for joint tourism promotions and extend entertainment venue hours in popular […]

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Thailand Business News
Business Tourism

Vietnam’s State Bank Joins Initiative to Enhance Regional Payment Connectivity

The State Bank of Vietnam (SBV) has officially joined the Regional Payment Connectivity (RPC) initiative, expanding the memorandum of understanding signed by central banks of Indonesia, Malaysia, Philippines, Singapore, and Thailand. The RPC aims to enhance cross-border payments, making them faster, cheaper, and more inclusive. The inclusion of SBV brings the number of ASEAN central […]

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Thailand Business News
Business Tourism

Thailand Aims to Increase Tourism Income by Relaxing Visa Regulations

Thailand’s new Prime Minister, Srettha Thavisin, is looking to boost tourism revenue by easing visa rules for Chinese and Indian travelers and allowing longer stays for visitors from all countries. The current visa application process for Chinese tourists is costly and cumbersome, while Indian travelers have to pay for a visa on arrival. The government […]

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Thailand Business News
Business Economics Tourism

Q2 GDP Growth Slower Than Anticipated at 1.8%

The Thai economy grew slower than expected in the second quarter, with weaker exports offset by strength in tourism. The government has revised its GDP growth forecast for 2023 to 2.5% to 3.0% due to slower exports. The economy grew 1.8% in the April-June period, below economists’ expectations. The tourism sector and private consumption have […]

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Thailand Business News
Business Tourism

Thai Airways Achieves Profitability Again as Travel Demand Rises

Thai Airways International reported a net profit of 2.2 billion baht ($62.6 million) for the April-June quarter, a significant improvement from the 3.2 billion baht net loss in the same period last year. The airline’s turnaround was driven by increased demand for flights to China and Japan, as well as strong performance on routes to […]

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Thailand Business News
Business Economics Tourism

Thailand’s Bank of Thailand May Lower Growth Projections

The Bank of Thailand (BOT) is considering revising down its growth forecasts for the country due to weak export performance. The initial projection of 3.6% growth for this year may be adjusted to the mid-3% range. The slowdown in economic momentum is mainly attributed to underperforming exports, which have been affected by global challenges. However, […]

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