Revival Of Economy Counts On Tourism And Improving Exports
This story is part of Forbes’ coverage of Thailand’s Richest 2021. See the full list here.
Thailand has been hard hit by the pandemic. Government bonds have had the worst total year-to-date returns among Asia’s emerging markets this year. The baht recorded the second-worst performance among Asia’s currencies, and the worst among Southeast Asia, over the same period.
After its success in containing Covid-19 last year, the government is grappling with the biggest wave of infections yet, causing the central bank to cut its GDP growth forecast for the year to 1.8% from 3%.
In a country where tourism and travel account for 20% of GDP, over 1.4 million jobs have been lost in these sectors alone. In May last year…