Work

The Study of Economic Growth and Tourism Industry in Thailand

Year: 2024

Type: article

Abstract: The purpose of this paper is to investigate the relationship between Thailand's tourism industry and its economic growth, while also examining the impact of government education spending, unemployment rates, tourism statistics, free visa policies, trade flow, and GDP. Data spanning 25 years (1995-2019) was collected. Results indicate that visa exemption policies play a crucial role in Thailand's economic growth, particularly in the tourism sector. A positive correlation between trade balance and GDP underscores the importance of maintaining favorable trade conditions for economic expansion. In conclusion, this research emphasizes the necessity of a holistic approach to foster both an effective education system and sustained economic growth in Thailand.

Source: European Journal of Development Studies

DOI: 10.24018/ejdevelop.2024.4.4.370

Authors: WenCheng Hsiao, HuiChen Chiang, Napitsarin Amornchaiyakij

Institution: Ming Chuan University

Language: English

Topic: Diverse Aspects of Tourism Research

Subfield: Sociology and Political Science

Field: Social Sciences

Domain: Social Sciences

SDG: Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W4402082735

FWCI: 0.744

Cites: 12

Cited by: 1

Related to: 10