Thailand
Thailand: Tourism, infrastructure to support Thai economy
Thailand: Tourism, infrastructure to support Thai economy
Tuesday, 9 August 2016 – Thailand’s record tourist arrivals and public works spending are expected to offset weak domestic demand and global economic drag, keeping South-East Asia’s second-largest economy on course for 3.1% growth this year, the central bank governor told Reuters in an interview.
The trade-dependent economy has been hit hard by the deteriorating global economic environment and the slowdown in demand for exports, which the Bank of Thailand (BoT) expects to decline for the fourth consecutive year in 2016.
Tourism has been one of the few bright spots in the Thai economy, and government spending on big ticket infrastructure should give a jolt to the sluggish economy later in the year, BoT Governor Veerathai Santiprabhob said.
“We are on track,” Veerathai told Reuters in an interview on Friday. “We’ll have to monitor the secondary impacts of Brexit. Read More?