
Thailand’s economy is expected to maintain a steady growth of 2.5-3% this year, as reported by the Joint Standing Committee on Commerce, Industry and Banking on December 6. Despite this stability, the tourism sector faces a downturn with forecasted foreign arrivals revised down to 28 million from an initial 30 million. This adjustment reflects ongoing challenges in revitalising a crucial economic sector. Looking ahead, the economy could grow between 2.8% and 3.3% in 2023. A key factor is the government’s plan to distribute THB500bn via digital wallets, potentially boosting GDP growth by up to 1.5%. The announcement comes against the backdrop of a 1.5 percent growth in the July-September quarter, the slowest this year.