-- Thailand's economic growth and tourist arrivals are expected to slow this year as Middle East tensions push up global energy prices, The Star reported Wednesday, citing the finance ministry.
The country's GDP growth is projected to ease to 1.6% from 2.4% in 2025, within the government's earlier forecast range of 1.5% to 2.5%. Foreign tourist arrivals are now estimated at 33.5 million, about two million fewer than previously expected, reflecting weaker inflows from Europe and the Middle East, according to the report.
The ministry said the ongoing US-Israeli conflict with Iran has dampened travel demand and driven up fuel costs, weighing on the tourism sector. Visitors from the Middle East fell by a third in March from a year earlier, while European arrivals dropped about 4%, although arrivals from other Asian countries rose 6%, the news outlet said.
(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)