The Booming Tourism Industry in Thailand

A charming country known as the Land of Smiles, Thailand attracts millions of tourists every year. Located in Southeast Asia with a constitutional monarchy as its form of government, it has a population of over 64 million people mostly practicing Buddhism.

The country has experienced highs and lows with its finances, but, with the help of tourism and other industries, it has become the second largest economy in Southeast Asia. With famous tourist spots in key cities like Bangkok and Phuket, both local and international visitors have been increasingly pouring in, growing from 3.83 million in the first quarter of 2007 to 5.33 million arrivals during the first three months of 2011.

But, throughout these years, the industry also experienced instability because of natural calamities, huge outbreaks, and political turmoil. In 2003, the SARS outbreak hit Asia and it left the biggest revenue loss in the history of Thai tourism. Although conditions got better after campaigns were made like airline ticket promotions, the epidemic still left an impact. Arrivals experienced a decrease of 7.36 percent by the end of the year. And, just when the economy started to pick up its pace again, a devastating tsunami hit the country a day after Christmas in 2004. It claimed thousands of lives and destroyed properties and livelihood, and the industry experienced its lowest dip after it started growing in 1997.

Eventually, the Thais were able to recover from the experience and in the following years, visitors started travelling to the place again. After everything that it has gone through, its tourism continues to develop, gaining popularity because of its warm people, rich traditions, and awe-inspiring landscapes.  

Aside from the tourism industry, other sectors in the country are also experiencing a boom. These are: agriculture, forestry, fishing, manufacturing, and mining. It is also doing well in its imports and exports.

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