The Asian Development Bank (ADB) projects a growth rate of 3.3% for Thailand’s economy in 2023, while the Japan Center for Economic Research (JCER) and Nikkei newspaper forecast a slightly higher growth rate of 3.7% for the country’s economy. Both projections indicate that the economy of Thailand will expand.
According to the projections made by the ADB, headline inflation is anticipated to decline from 6.1% in 2022 to 2.9% in 2023 and 2.3% in 2024. This is despite the fact that the Government Spokesperson Anucha Burapachaisri has ascribed the growth to the revival of the tourism sector and the consumption of the private sector.
Both the JCER and the Nikkei have identified the continuous recovery of the tourism sector as a crucial driver for Thailand’s expected growth. Both organizations predict that the country will see a growth rate of 3.7% in both 2023 and 2024.
In light of these encouraging assessments, Thai Prime Minister Gen. Prayut Chan-o-cha has voiced his conviction that the economy would continue to make progress toward full recovery. According to the statements made by Spokesperson Anucha, the evaluations have also been seen as a positive indicator for the confidence that international investors have in the economy of the country.
These evaluations, taken as a whole, point to the robustness and stability of Thailand’s economy, and they anticipate the country will experience positive growth in the years to come.
 projects a growth rate of 3.3% for Thailand's economy in 2023, while the Japan Center for Economic Research){kind=link}