Thailand hopeful for tourism-led recovery

Thailand’s economy contracted 0.3 percent year on year in the third quarter with hopes for a gradual tourism-led recovery, announced the Office of the National Economic and Social Development Council (NESDC) on November 15.
Thailand hopeful for tourism-led recovery ảnh 1Tourists in Bangkok Thailand on November 2 (Photo: Xinhua/VNA)
Bangkok (VNA) - Thailand’s economy contracted 0.3 percent year on year in the third quarter with hopes for a gradual tourism-led recovery, announced the Office of the National Economic and Social Development Council (NESDC) on November 15.

The measures to control the COVID-19 outbreak affected the economic activities, said Danucha Pichayana, secretary-general of the board of the NESDC, on the day during a press conference.

A coronavirus outbreak in April this year saw the emergence of the highly contagious Delta variant, which led to re-imposing tough restrictions on services and restaurants. According to NESDC data, the food service and accommodation sector shrank 18.6 percent on July-September. Pandemic travel restrictions sent Thailand's visitor numbers plummeting from 40 million in 2019 to just 73,000 in the first eight months of 2021.

The relaxation of COVID-19 restrictions, along with a gradual return of vaccinated foreign tourists since November 1, makes Thai officials hopeful for growth of 1.2 percent this year.

The country also expects five million tourists to return next year, bringing revenues of up to 440 billion THB (13.4 billion USD), said the NESDC.

Danucha said the growth forecast for 2022 is between 3.5 and 4.5 percent as Thailand slowly recovers from the pandemic.

As of November 15, Thailand has recorded more than 2 million infections and over 20,000 deaths from COVID-19./.
VNA

See more

At Pulau Seraya power station (Photo: Straitimes)

Singapore begins construction on hydrogen-fueled power plant

Singapore on October 23 began the construction of an 800 million USD power plant that has the capability to use hydrogen to generate electricity, as part of a push to utilise the fuel to reach Singapore’s net-zero carbon emissions target by 2050.

Delegates at the event (Photo: VNA)

125th anniversary of Permanent Court of Arbitration celebrated

The Permanent Mission of Vietnam to the United Nations and missions of the Philippines, Australia, Egypt, Guatemala, Hungary, Thailand, France, Eritrea and Austria, organised a ceremony on October 22 to celebrate the 125th anniversary of the Permanent Court of Arbitration (PCA), as part of the International Law Week at the UN General Assembly's Legal Committee (Sixth Committee).

CEO of the Malaysia Digital Economy Corporation Anuar Fariz Fadzil (Photo: focusmalaysia.my)

Malaysia continues placing emphasis on digitalisation

The Budget 2025 provides significant support to further accelerate Malaysia’s digitalisation, encourage adoption of artificial intelligence (AI) and drive inclusive growth, further positioning Malaysia as a leading digital hub within the ASEAN region, according to CEO of the Malaysia Digital Economy Corporation (MDEC) Anuar Fariz Fadzil.

Malaysia's economic reforms boost investment inflow (Photo: thestar.com.my)

Malaysia's economic reforms boost investment inflow

Malaysia has attracted substantial foreign investments, reaching 22.2 billion MYR (5.16 billion USD) in the third quarter of 2024, the highest level for the same period since 2012, according to UOB's Global Markets and Economics report.

Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN speaks at the debate (Photo: VNA)

Maintaining peace, stability a must for progress on human rights: Ambassador

Progress in human rights can only be achieved by maintaining peace and stability, respecting the rule of law at both the international and national levels, and ensuring respect for the principles of national sovereignty and non-interference in internal affairs, said Ambassador Dang Hoang Giang, Permanent Representative of Vietnam to the UN.

A visitor browses travel promotions at a travel fair in Nonthaburi province. (Photo: Bangkok Post)

Thailand plans enhanced support for domestic tourism

Thailand’s Ministry of Tourism and Sports is aiming to increase subsidy to local tourists in the upcoming stimulus scheme to 50% and would like to change the criteria for online travel agents, mandating them to register in Thailand to avoid losing income to foreign companies.

Oil field offshore Indonesia. (Photo: thejakartapost.com)

Indonesia begins major oil, gas exploration in Sulawesi

Indonesia's state-owned oil company Pertamina, along with foreign partners Sinopec from China and Kuwait’s Kufpec, has signed a contract to explore the Melati oil and gas block, located off the coast of Sulawesi. The block is estimated to contain trillions of cubic feet of gas reserves.