Tourism, agriculture fuel Thai economy

February 21, 2025 l Manila Times

BANGKOK — Thailand topped the list of most visited countries in Southeast Asia in 2024 with 35.5 million international tourist arrivals. It was also the world’s eighth most popular destination in 2024, according to global rankings compiled by the United Nations World Tourism Organization.

Winners of the 17th Bright Leaf Agriculture Journalism Awards are in town as part of their prizes from PMFTC Inc., the business combination of Philip Morris International and Fortune Tobacco Corp. Launched in 2007, the Bright Leaf Awards are given annually to the most outstanding Philippine agricultural stories and photos published nationally or regionally in print, broadcast, and online media.

The awardees’ itinerary, arranged by Subic-based Bella Vita Trips, included a dinner cruise along the Chao Phraya River; a tour of Wat Pho temple complex near the Grand Palace; and a whole-day trip to the Kingdom of Siam’s ancient capital, Ayutthaya.

They also traveled south of Bangkok to explore the Maeklong Railway Market in Samut Songkhram province and the Damnoen Saduak Floating Market in Ratchaburi province.

Agriculture is a significant sector in the Thai economy, with 40 percent of the country’s population working in agriculture-related jobs while agricultural production accounts for more than 10 percent of its gross domestic product (GDP).

Thailand’s most important crop is rice, which is cultivated by around eight million Thai farmers who have catapulted their nation to become the second largest rice exporter in the world.

To think it was at the University of the Philippines Los Baños (UPLB) in Laguna where droves of Thai students studied agriculture from the late 1960s to the early ’80s. How ironic that they learned rice production technology from the International Rice Research Institute beside UPLB, while the Filipinos who trained them now suffer from high rice prices aside from being the world’s biggest rice importer — projected to reach record highs in 2024-2025 by the Foreign Agricultural Service of the US Department of Agriculture.

If it’s any consolation, Thailand’s economy grew less than expected in 2024. Official data released by Thai Prime Minister Paetongtarn Shinawatra’s office this week showed its GDP expanded by only 2.5 percent — one of the weakest recoveries in Asia from the effects of Covid-19, with GDP just over 4 percent above its pre-pandemic levels.

In contrast, the Philippine economy posted a 5.6 percent GDP growth in 2024 and is one of the fastest-growing economies in the Asia-Pacific region.

Lunar New Year

Back home, the Federation of Filipino Chinese Chambers of Commerce and Industry Inc. (FFCCCII) celebrated the Lunar New Year with a dinner reception at the Golden Bay grand ballroom in Pasay City. In the ancient Chinese lunar calendar, 2025 is equivalent to the year 4723 which falls on the Year of the Snake.

Led by FFCCCII president Dr. Cecilio Pedro, the Spring Festival event recognized distinguished members of the Filipino Chinese community for their exceptional contributions to Philippine society. Luminaries who were honored at the special awarding ceremony were National Artist Ricky Lee, broadcast journalist Jessica Soho, furniture designer Kenneth Cobonpue, beauty queen Michelle Dee, and sportsman Chris Tiu.

This year’s reception kicked off the broader celebrations of the 50th anniversary of Philippine-Chinese diplomatic relations on June 5, highlighted by collaborative cultural and economic initiatives of 170 Filipino Chinese chambers of commerce nationwide to strengthen bilateral ties between the two countries.

***The views expressed herein are his own and do not necessarily reflect the opinion of his office as well as FINEX. For comments, email nextgenmedia@gmail.com. Photo is from Pinterest.

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