Kriengsak Chareonwongsak Tourism plays

Tourism plays an important role in the Thai economy

    Not only is tourism good for the country’s current economy but it is also good for Thailand's future economic development as well. Each year, the tourism sector generates hundreds of billions of baht, or nearly 10% of our country's income (GDP). In addition, it is known to boost the economy both in normal times and in times of crisis. In 1987, the ‘Visit Thailand Year’, initiated by General Chatichai Chunhavan's government, demonstrated just how obviously important this sector was to the country’s economy. Not only did it bolster the country's income but it also created growth in the Thai economy during the early 1990s. In 1997, Thailand's tourism sector again played an important role in Thailand's future economic development, at a time when Thailand struggled with the economic crisis. A policy to promote tourism has an immediate earning potential in the form of foreign currencies, which enhance our economic survival. It should be noted however that tourism significantly benefits not only developing countries but indeed many developed countries such as USA, England, France, and the Netherlands, all promote tourism as a vital source of income as well. 

Travelling the high road

Professor Dr Kriengsak Chareonwongsak
Executive Director, Institute of Future Studies for Development (IFD)
kriengsak@kriengsak.com, http://www.ifd.or.th