The Economic crisis is the main problem for every country around the world. Recently, inflation still causes the higher price in goods and services. Thus, the Federal Reserve Bank(FED) announced the new interest rate to be higher in order to deal with inflation which caused other central banks to raise their interest as well. Thus, the Thai economy is interesting to study about its tendency in 2023 whether it’s going to be good or bad. You can find an answer here in this article!
It is estimated that the economic expansion will reach 3.8% in 2023 which is higher than last year when the economic expansion was 3.4%. This estimation of the economy is from many factors that indicate a good future of the Thai economy such as the recovery of consumption, traveling, covid-19 pandemic is less concerned and the less inflation. Travel will be the main force that supports the Thai economy because there will be more travelers who visit Thailand, especially the traveler from Asia, Europe and USA. There might be 21.5 million people who travel to Thailand and it will help the economy to grow at about 3.2% per year. However, there are not only positive factors that will affect the economy but also negative factors.
Even though there is a potential for a bright future of economic growth in 2023, we need to prepare ourselves for the problem that might occur since there are some risks about the recession.