THAILAND: Tourism Rebounding
Thailand expects tourism to exceed its targets, with more than 30 million arrivals this year, despite a bomb blast that killed 14 foreigners in August 2015 in Bangkok, said the prime minister. The country’s worst-ever bombing put pressure on revenues vital to the military government’s moves to resuscitate a struggling economy.
Tourism — worth about 10 percent of the gross domestic product — has been its only bright spot.
Average daily arrivals to Thailand fell from 85,000 to 70,000 after the blast, according to the tourism ministry.
The government had targeted 28.8 million arrivals and 2.2 trillion baht (U.S. $61.82 billion) in revenue in 2015 from tourism, which has become crucial as Southeast Asia’s second-biggest economy stutters amid weak exports, manufacturing and retail spending. Reuters