Browsing Tag
economic growth
59 posts
Thailand Cuts 2022 GDP Outlook to 3.5% Over Russia-Ukraine War
The tourism-dependent country is on track to receive 6.1 million foreign visitors this year, but below the 7 million projected earlier due partly to the impact of China’s travel restrictions and the Ukraine conflict on Russian tourist numbers.
Developing Economies risk “Hard Landing” in 2023 says World Bank
Growth in EAP is projected to decelerate to 5.1 percent in 2022, reflecting a slowdown in China. Thailand’s economy is expected to recover gradually over the next two years, with growth picking up in 2022 and strengthening to 4.3 percent in 2023.
World Bank keeps Thai growth outlook at 1% this year but expects 3.9% in 2022
Thailand’s economy is still expected to grow 1% this year due to the impact of a coronavirus outbreak, but growth is expected to accelerate to 3.9% next year, driven by a recovery in service sector activity, according to the World Bank.
Thailand’s economic growth expected to return to 2019 levels in mid-2023
Although the economy would recover next year, the recovery is still substantially below potential level resulting in a large output loss and could affect Thailand’s potential economic growth in the future with the economy expected to return to 2019 levels in mid-2023.