The Thai economy is still on the recovery path and should grow 3.4% in 2022 and 3.8% next year, supported by a rebound in the vital tourism sector, Finance Minister Arkhom Termpittayapaisith said on Wednesday.
On Saturday, Thailand marked the arrival of its 10 millionth international visitor in 2022, as per the tourism authority as the travel sector recovered from the pandemic. Around 40 million tourists were welcomed by Thailand in 2019, however, the travel industry badly suffered due to the restrictions imposed during the pandemic. With relaxation in those restrictions worldwide, the travel numbers in Thailand have started a slow recovery and the government is aiming to generate tourism revenue of $16 billion this year.
The economy remains firmly on a path towards economic recovery despite growing uncertainties from inflation, geopolitical risks and a potential global recession next year, the finance minister said on Wednesday.
The government has defended its decision to impose taxes on the Stock Exchange of Thailand's (SET) share sales, insisting it was a well-thought-out plan, while denying it is making an exception for big traders.