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The Economy Contribution Of Tourism To Thailand Economics Essay

Paper Type: Free Essay Subject: Economics
Wordcount: 984 words Published: 1st Jan 2015

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Thailand is rich in tourism resources; there are more than 500 attractions and it is also famous of “land of smiles”. Both the natural and service advantages are attracting the tourists from all over the world (Anan, 2008). Therefore, the tourism industry with its huge foreign exchange income in the Thai economy occupies an important position. Financial and other related services also got benefit from the tourism industry.

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Thai government and people in the joint efforts of the tourism industry in Thailand was a great development of tourism in Asia, now Thailand is the fastest growing region. The development of tourism to Thailand has brought great economic and social benefits. The promotion of tourism to the role of the Thai economy in the following two aspects: the first is a lot of foreign exchange earned for the development of industrial capital accumulation. The Value of tourism in Thailand remained at about 10% of GDP (Erik, 2010). As a developing country, Thailand’s industrial development requires a lot of money, and the modernization of tourism brought in a large number of foreign exchange, to a great extent, it eased the pressure of lack of funds. The second is the development of tourism solves the employment problem for related industries a large number of rural surplus labour forces can be employed. The development of tourism led related industries, especially in transport, energy, food, hotel industry and tourism into the development of commercial vitality. All of these industries have helped to alleviate the inevitable process of modernization in Thailand which would make a large number of rural and urban employments of surplus labour, and the tourism development would offer a huge job market.

In 2010, Tourism and related industries showed growth of V-type. Despite the political turmoil in the second quarter impacted the tourism growth rate down, but quickly rebounded in the second half of the year to attract 16 million visitors from overseas trips, an increase of 11.7%. Closely associated with tourism hotel and catering industry increased by 8.4% throughout the year (Thailand investment review, 2011).

Thai National Economic and Social Development Board said, the entry of foreign tourists in Thailand 2011 is expected to reach 16.8 million, or 17 million, becoming the booster of support in Thailand’s rapid economic development (Thailand investment review, 2011). With the improvement of global economic trends, Thailand’s exports this year are expected to maintain rapid growth. Earlier institutions predict that Thai exports in 2011 are expected to maintain a growth rate of about 10%, and its total export volume is expected to mark the year exceeded 200 billion U.S. dollars. If exports and tourism development of the expected, Thailand’s GDP this year can be maintained from 3.5 to 4.5 percent increase, but lower than 7.8% in 2010 (Thailand investment review, 2011).

Thailand freak is a mysterious group, they have delicate and charming incomparably skills. Thailand has only 60 million people, and the income was as $7 billion each year. Tourism becomes a mainstay of the Thailand economy. Thailand have strong local tourism features, the most startling is the famous “freak” show (Henderson, 2009).

Thai tourist visa in 2010 was free of charge. In order to restore the government policy of Thailand’s tourism market in Thailand, the government decided to implement visa-free visa policies (Erik, 2010). This was one of measures taken by Thailand government in order to make tourism industry recover as soon as possible. The Thai government clearly understood the strength of tourism industrial development, international tourism can directly earn foreign exchange for the economic development to inject new vitality, so successive governments have attached great importance to the development of tourism. The Thai government on the importance of tourism in the following areas: (1) Increase the development of tourism resources and tourism infrastructure. (2) increase outreach efforts. (3) Targeted to simplify immigration procedures, relaxation of restrictions on length of stay for tourists. . (4) Training tourism personnel. Many civil society organizations put into tourism development at present (Henderson, 2009).

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With the development of manufacturing and service industries, particularly the rise of tourism, the Thai economic structure has undergone significant changes, mainly on agricultural exports agricultural country transformed gradually to the newly industrialized countries. Thailand’s economic structure significant changes occurred with the rapid development in recent years. Although agriculture in the national economy continues to play an important role, but the manufacturing sector’s share in the national economy has been growing. Share of manufacturing became the biggest industry, and became one of the major export industries. Thailand, a major feature of the process of industrialization was full use of its rich agricultural resources development, food processing and related manufacturing. The resource-based agro-industrial development models in the past 20 years made remarkable achievements, and play a greater role in the future (Henderson, 2009). The only 51 square kilometres of land every year attracts visitors from all over the world. The rapid development of tourism to Thailand has brought great benefits. Its huge foreign exchange earnings of tourism in the Thai economy occupy an important position (Henderson, 2009). The Thai government has taken many measures to attract tourists; the number of visitors has greatly increased. Financial and other related services has also been steady growth. The role played by tourism will be more and more important in Thailand economy structure.


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