Kasikorn Research Center has predicted that the 2021 GDP will grow 2.6%, suggesting the government to continue its various economic packages which have contributed to the increase in public spending.
Finance Minister expects 4-4.5% growth next year
The Thai economy has been showing signs of recovery, thanks to the government’s many stimulus measures. The Minister of Finance is expecting the Thai economy will grow 4-4.5% next year, however it may take up to 4 years for visitor numbers to recover.
The Minister of Finance Arkhom Termpittayapaisith predicts that Thailand’s tourism sector will start to recover after the successful development and distribution of COVID-19 vaccines globally, with the number of visitors next year expected to be at least 8 million.
He said, however, that by how much the country will reopen to tourists will depend on the public health conditions, adding that it may take until 2024 for tourist numbers to return to 40 million per year.