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Tourism Impact on Thailand's Economy By the Numbers

Category: Tourism, Posted:23 Jun 2009 | 07:07 am

Tourism as a leading economic indicator in term of its importance to the economy is expected to contribute 14.7% to the countries Gross Dometic Product (GDP). In figures released by the World Tourism Council 11.1% of total jobs come from the sector which will provide more then 4 million jobs this year.
Thailand's reliance on tourism ranks as number 2 in Southeast Asia and 24th in absolute size in the world. In direct terms there is a 6.5% direct contribution to GDP but add to this employment, capital investment, government expenditure and exports of tourism connected services, merchandise and exports and a true picture emerges on the importance of the sector.
Forecasts are looking for a GDP retraction of 3.3% of GDP and a similar retraction in employment within this year. It is expected by 2019 that 1 in every 8,3 jobs in the country will be in the tourism sector. By the sheer numbers certainly the voice of tourism on the countries political landscape and also within the business sector needs to have significant representation, long term planning and support at all levels. While in Phuket the industry continues to be the single largest economic indicator for growth, a more focused and public leadership role is deserved.

Other News

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Phuket International Reopening Next Week

Category: Tourism, Posted:30 Sep 2020 | 09:33 am The resort island of Phuket is preparing to welcome 120 Mainland Chinese overseas travelers from Guangzhou next week on October 8th. As per government guidelines, the visitors will stay in Alternative Local State Quarantine (ALSQ) hotels for 14 days. According to news sources and the Phuket public health office, there are presently nine hotels approved […]
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The Future of Virtual Versus In-Person Hotel Events

Category: Hotels, Posted:25 Sep 2020 | 13:48 pm C9 Hotelworks and QUO have put together a short survey we hope you will take. As we look to the future of events for the hospitality and tourism sectors, we’re curious to understand more about your expectations and appetite. How far will you be willing to travel (if at all)? What subjects will you be […]
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Project Rattan Focused On Restoring Thai Craft

Category: Tourism, Posted:20 Sep 2020 | 08:52 am If you find yourself in Bangkok from now until the end of December, you should take some time and visit Australian designer Patrick Keane’s Project Rattan exhibition at River City. Project Rattan is an exhibition of furniture design featuring Thai craftsmanship and aimed at restoring local artisans to create international level products. The exhibit is […]