People know Thailand as one of the best tourist destinations in Southeast Asian Region. As one of the main hubs for tourism in the ASEAN, Thailand is known for its efforts to sustain its place as the best place to visit for tourism purposes and business purposes. Thailand offers lush and abundant forest and mountain ranges, gorgeous white sand beaches with crystal clear water, a scrumptious Thai culinary experience with a twist and turn of spicy flavors, and of course the booming economy with a high currency rate.
Thailand’s currency which is Thai Baht has made its way to the headlines of different news agencies around the world because of its surge and strength. Although it is a good sign for Thailand’s economy, it has a lot of effects to the tourism industry as it hinders tourist to spend for their holiday trip to the kingdom. An article written by Mr. Randy Thanthong-Knight from Bloomberg.com quoted,
“The strength of the baht is the biggest impediment to wooing more holidaymakers, the Tourism Council of Thailand said Monday. It revised down its estimate for foreign tourist numbers to 39.7 million this year, from an earlier projection of more than 40 million.”
This recent growth of Thailand’s currency has affected the Tourism Industry of the country but the country also got a boost on the Business and Development sector as a lot of foreigners see this currency growth as an opportunity to invest in Thailand to take advantage of Thai Baht’s strength. The recent influx of foreign investors has caused a lot of development to the Thai Economy and Property Industry.