Tourism Impact on Thailand's Economy By the Numbers

Tourism as a leading economic indicator in term of its importance to the economy is expected to contribute 14.7% to the countries Gross Dometic Product (GDP). In figures released by the World Tourism Council 11.1% of total jobs come from the sector which will provide more then 4 million jobs this year.

Thailand's reliance on tourism ranks as number 2 in Southeast Asia and 24th in absolute size in the world. In direct terms there is a 6.5% direct contribution to GDP but add to this employment, capital investment, government expenditure and exports of tourism connected services, merchandise and exports and a true picture emerges on the importance of the sector.

Forecasts are looking for a GDP retraction of 3.3% of GDP and a similar retraction in employment within this year. It is expected by 2019 that 1 in every 8,3 jobs in the country will be in the tourism sector. By the sheer numbers certainly the voice of tourism on the countries political landscape and also within the business sector needs to have significant representation, long term planning and support at all levels. While in Phuket the industry continues to be the single largest economic indicator for growth, a more focused and public leadership role is deserved.

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Hi all. I have just stumbled on this discussion via a google word search. I think we need to inject some context into this discussion.
1. When people talk about whether foreigners contribute to the Thai economy they mostly just single out international tourism although this is only one component of the foreigner economic contribution. In 2010 international tourism receipts amounted to 592,794,090,000 baht out of a total contribution of approximately 14,261,143,140,000 baht. Yes, if you put a big wall around Thailand then you can wave goodbye to almost 14.3 trillion baht (and that's just for one year - 2010).
With one exception these figures are based on stats produced by Thai government agencies such as the Bank of Thailand. The exception is a calculation of expenditure by foreigners living in Thailand, which I put together.
"Ruining the Thai economy"?
2. Thailand's restrictions on foreigners owning property are already quite strict by international standards. It's funny though how it's the foreigners money that is pushing up real estate prices, not the actions of the wealthy Thai elite who own and control infinitely more land than foreigners do - or ever will. Wake up!

Bruce, 02 Sep 2011 | 9:45 am

because if foreigners are allowed to own land and houses in Thailand, they will abuse their money power to do whatever (that could be horroble for Thai culture and values in the future). I as a Thai absolutely agree with my government to restrict or ban the owning of land and houses by foreigner in my country. Money is neccessary but it does not mean everything for us. in contrary to what you think. i would say that in the future or if possible what the Thai government shoudl do is to select and allow only the tourists of quality to enter the country because what I have seen so far is that lots of foreign tourists go to Thailand and (most of them are poor and low-income people in their own country and behave quite bad and have no understanding of the country) Please be reminded again if you want. Thailand needs money but money shoud come from good people who understand the culture, values and tradition of the country.

Pak, 23 Oct 2009 | 10:35 pm

Tourists bring cash to Thailand but expats and investors ruin the local economy by pushing prices up on land and property.
I totally understand why Thai government want to restrict the property market for forreigners but they do it for the wrong reasons now it seems.
The ownership should be 100% for expats and alike but limited for investors who buy land over 1 rai.

Mik, 19 Jul 2009 | 8:28 am

No doubt Thailand needs the tourists .... without all these tourists Thailand would be a poor 3rd world country....
So I simply don't understand that the Thai government do everything that is possible to scare tourists and investors away from their lovely country.
Just to mention a few things:
* The never-ending changes in visa and immigration rules.
* The harsh rules that foreigners cannot own land for their own private house.
* The harsh restrictions in foreign owned companies.

Kristian Olsen, 25 Jun 2009 | 2:03 pm

There will be no master plan for Phuket EVER when they keep changing governors every few months.

Ian, 25 Jun 2009 | 9:50 am