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Essay on Tourism And Economic Development In Thailand
Introduction
Thailand has enjoyed a certain level of social and economic progress since the 1960s. This has been the result of the hard work of its people and their government and the mercy of Mother Nature, which has long favored its agriculture. During the last 40 years, Thailand has experienced both the ups and downs of its economic growth. Starting at 8 percent during the 1960s, the growth in its GDP was gradually reduced to 6.9 percent in the 1970s and 5.3 percent between 1980 and 1986.
The trend swerved upward to a double-digit growth of 10.7 percent during1986-1991 before descending again to 7.9 percent during 1991-1996. The economic crisis after that saw Thailand with a negative growth of -0.4 percent in 1997. The economy shrunk further by 8 percent of the - 0.4 percent in 1998 and 9 percent in the first half of 1999 with an expected recovery from late 1999 on (Unger, 52-58).
Thailand has become one of the leading tourism destinations in the Asian-Pacific region. The number of foreign tourists visiting Thailand has increased over the past years, from 1.2 million arrivals in 1975, to approximately 8.5 million in 2002. Thailand's main attractions are either nature or historical sites, and its culture and people. The management capacities in major tourist cities have been upgraded to accommodate the increase in pollution and garbage. In order for tourism development in other cities to be successful, town planning and appropriate management must be introduced.
Economic and Financial Development
In the 1960s and 1970s, the country's abundant natural resources, an enterprising and competitive private sector, and cautious and pragmatic economic management resulted in the emergence of one of the fastest growing and most successful economies among the developing countries. Between 1960 and 1970, the country's average annual growth rate of gross domestic product (GDP) was 8.4 percent, compared with 5.8 percent....
