Tourism, govt spending buoys Thai economy in January
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Tourism and public spending continued to boost the economy in January, in light of contraction in private consumption and exports, according to the Bank of Thailand data.
Export value in the month contracted 9.3 per cent from the same period last year, the central bank said. This is worse than the Commerce Ministry's data, which is based on customs data, that showed 8.91 per cent contraction.
The number of foreign tourists increased by 15 per cent on year, in line with the a continued increase in Chinese tourists as well as a pickup in tourist arrivals from Europe.
