BENGALURU - Thailand's economy likely picked up speed in the first quarter aided by a strong recovery in the tourism sector and a rebound in private consumption, but a weakening global economy poses the biggest risk to the outlook, a Reuters poll found. The tourism-reliant economy's recovery has lagged its regional peers due to the Covid-19 pandemic, but turned a...
BENGALURU - Thailand's economy likely picked up speed in the first quarter aided by a strong recovery in the tourism sector and a rebound in private consumption, but a weakening global economy poses the biggest risk to the outlook, a Reuters poll found.
Thailand's economy grew 2.3 per cent in the January-March quarter from a year ago, up from 1.4 per cent growth in the prior quarter, according to the median forecast of 20 economists polled May 8-11. "Growth was mainly driven by the ongoing recovery in foreign tourism as Chinese visitors began to make a comeback following China's reopening, as well as private consumption boost," noted Han Teng Chua, economist at DBS.
Thailand beat its target of six million tourist arrivals in the first quarter, recording 6.15 million visitors between January and late March, government data showed.
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