Thailand’s tourism industry is key to its economy

Article Excerpt

Tourism is an hugely important part of the Thai economy, contributing as much as 20% of the country’s gross domestic product (GDP). Most of its tourists hail from the Asia Pacific region and Europe, with China, Malaysia, Russia, and India the largest individual country contributors. They spend most of their money on accommodation, transport, shopping, and food, with the most visited destinations being Bangkok, Pattaya, and Phuket. Medical tourism has also grown with 64 hospitals now accredited to provide specialized treatment to foreigners. The industry is rated among the top 10 medical tourist destinations in the world. In 2019, the country welcomed 40 million tourists, ranking it 8th in the world in terms of arrivals. These tourists spent $62 billion during that year, and the industry is credited with providing employment to over four million people. The industry grew considerably between 2010 and 2019 with foreign arrivals increasing by 176%. But the lucrative industry fell on hard times as COVID-19-related restrictions and entry requirements resulted…

You are trying to access subscriber-only content.

To read this article, you may subscribe or sign in.
If you are already a subscriber, log in here.

If you wish to become a subscriber, click here. Or you may enjoy access to all our publications when you become a Member of Pat McKeough's Inner Circle Pro.