Thai economy to grow by 3.6% in 2023, riding on tourism recovery: UTCC

BANGKOK (The Nation/Asia News Network): The country is likely to see 3.6% economic growth in 2023 thanks to the performance of the tourism sector, despite the nation's export growth slowing down, according to University of the Thai Chamber of Commerce (UTCC).

The president of the UTCC and adviser to the university’s Centre for Economic and Business Forecasting, Thanavath Phonvichai, said the number of tourists visiting Thailand is expected to increase from 11 million this year to 22 million people in 2023, while the nation’s exports are slowing down due to a decline in trade partners’ purchasing power.