In 2016, the average occupancy rate rose from the previous year’s 65.1% to 67.8% Occupancy rates and revenue for hotels will tend to grow in line with continuing growth momentum of the markets for both domestic and international tourism, in particular for increases in the number of Chinese tourists coming to Thailand, who currently account…
Automobile manufacturing has long been the pillar industry of the Thai economy In 2017, the output value of automobile manufacturing accounted for more than 10% of Thailand’s GDP. With its superior geographic location and government support, Thailand has become the largest automobile producer in Southeast Asia, and is called the Detroit of Asia. Automobile manufacturing…
With roughly 20 million international overnight visitors, Bangkok remains in the top spot this year and is unlikely to be challenged Visitors tend to stay in Bangkok 4.7 nights and spend $173 per day on average, but Dubai attracts more big spenders with a whopping $537 daily treat With roughly 20 million international overnight visitors,…
Thailand ranks 6 th among the ten most important economies in Asia according to DataLeads China, world’s second-largest economy stands tall with US$ 25.3 trillion and is up by 9% from 2017 followed by India at 10.38 trillion which is up by 9.8% showing growth over the preceding year. Thailand ranks 6 th among the…
Thailand’s statistics agency raised its growth forecast for this year to 4.2 percent to 4.7 percent Thailand’s first quarter growth has expanded by 5 year high of 4.8 percent, according to the country’s economic monitoring agency. Deputy Secretary-General of the National Economic and Social Development Board, Wichayayuth Boonchit revealed that the high growth was attributed…
Thailand’s economy has recovered strongly in the first quarter of 2018 supported by healthy growths in the export and tourism sector. Exports in the first three months have jumped up 11.3 percent year on year, representing a seven-year high and it remains a driving force of the economy this year, said Pornpen Sodsrichai, director of…
Thailand has made impressive economic and social progress over the past several decades, but must now take further steps to transform its economy and ensure that prosperity is shared more equally across the country, according to a new report from the Organisation for Economic Co-operation and Development. The Initial Assessment of the Multidimensional Review of Thailand highlights…
THAILAND’s GDP growth 2008-2018 Infogram A spate of public and private positive forecasts have revised up Thailand’s GDP growth projection for 2018 to over 4 per cent. Earlier this week the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) increased the group’s 2018 GDP projection from growth of 3.8-4.5% to 4.0-4.5% after witnessing…
The World Bank projects that growth prospects for 2017 and 2018 remain positive for developing east Asia and the Pacific. Favourable external factors include stronger growth in advanced economies, a moderate recovery in commodity prices, and a strengthening of global trade growth. Growth in the EAP region strengthened marginally to 6.4 percent in 2017, 0.2…
Thai companies are increasingly investing in neighboring ASEAN countries. While these investments have resulted in significant profits for both the companies and the host countries, they have also triggered adverse environmental and social issues. Moreover, these outbound investments often occur without implementing the proper mechanisms to ensure compliance with international human rights standards and practices,…