Bangkok is well known as one of the most visited cities globally with more than 22 million international overnight visitors in 2018 and a total of 38 million international tourist arrivals and tourism is a key contributor to Bangkok’s economy.

Thailand’s overall GDP in Q2/2019 grew by 2.3%, which decelerated from 2.8% in the previous quarter, however there were positive signs from the Consumer Confidence Index, which increased for the first time in 6 months, reaching 46.3 in October from 46.0 in September 2019.

The strength of the Thai Baht, which has seen an increase of more than 6% against the dollar YTD, has been drawing a lot of interest from FOREX investors, although this has been having a negative impact on Thailand’s exports and tourism. Going forward it is unknown exactly what measures the government and the Bank of Thailand (BOT) will take in order to reduce the currency pressure.

There are a number of infrastructure development projects underway, which are intended to accelerate the country’s economic growth; the most notable being the expansion of Bangkok’s primary international airport and the extensive expansion of Bangkok’s rail system, with over 400 kilometres of new track under planning/construction.