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Thailand: No plans to return tourism to pre-COVID crisis levels

Thailand: No plans to return tourism to pre-COVID crisis levels
  1. Thailand decided to not return tourism to what is was before COVID-19 |
  2. 20% Thailand GDP is from Tourism |
  3. Thailand is looking for investors outside the Tourism industry |

Thailand’s authorities said they did not plan to return tourism to pre-crisis levels even after the normalization of the epidemiological situation with COVID-19, said Deputy Prime Minister Supattanapong Punmeechaow.

Revenues from tourism account for up to 20% of Thailand’s GDP. According to 2019 data, the country’s tourism revenue amounted to $ 56.2 billion, but Thai authorities are not satisfied with this. The government believes that Thailand’s economy is too dependent on tourism.

“It is unacceptable to return Thailand to the pre-COVID-19 level of tourism dependency. As the global economy changes, we must be more active in attracting foreign investors to other industries. Our goal is to include Thailand in the list of 10 countries with the greatest ease of doing business,” said Deputy Prime Minister of Thailand.

The authorities announced their intention to attract foreign investors to the development of other industries, in particular the development of the production of electric vehicles and “green” energy.

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