Thailand’s Economic Outlook

BANGKOK (Reuters) – Thailand’s economy is expected to grow 2.4% to 2.9% in 2025, with exports projected to rise 1.5% to 2.5%, according to a leading joint business group.

For 2024, the group maintained its economic growth forecast at 2.8% and kept the export growth forecast at 4%.

The group predicts 39 million foreign tourists this year – reaching pre-pandemic levels – though Sanan Angubolkul, chairman of the Thai Chamber of Commerce, stated the visitor numbers could hit 40 million, marking a new record.

Government policies are expected to aid growth in the first half of 2025.

However, structural issues such as high household debt and the competitiveness of small businesses are holding back growth. Uncertainty in global trade remains a concern according to the statement.