Body massage and tourism are not real source of income for Thailand, the country earns maximum money from…
New Delhi: Thailand is in the news these days due to the border dispute with Cambodia. The common belief is that tourism is the mainstay of Thailand’s economy, but this is only half true.
What is the main source of Thailand’s income?
This country of South-East Asia owns a multi-faceted economy, where, along with tourism, agriculture, export, industry, and services also play an important role. According to the data, even though the share of tourism in Thailand’s GDP is about 20%, other sectors play a bigger role than this. There is a belief in many parts of the world that Thailand is related to massage and similar businesses, but this is not at all true. Let us know through this article from which other industries Thailand earns.
Which are the other sectors from where Thailand earns?
Thailand is the world’s largest rice exporter. Its ‘Jasmine Rice’ is very popular in the international market. Along with this, rubber, fruits, marine products and maize are also produced in large quantities. According to estimates, 30% of the country’s population is dependent on agriculture. At the same time, fisheries also strengthen the rural economy of the country and there is a large export of prawns, squid and fish.
Why is Thailand called the Detroit of Asia?
Thailand is called ‘Detroit of Asia’ because there are automobile plants of Japanese, American and European companies here. Companies like Toyota, Honda, Ford, and Isuzu manufacture vehicles on a large scale. Electronics, computer hardware, and textiles are also important components of Thailand’s industrial strength.
What are Thailand’s other sources of revenue?
About 60% of Thailand’s economy comes from exports. The country exports agricultural products, automobiles and electronics to China, Japan, America and the European Union. Tourism is also a major source of income. In the year 2024, about 35 million foreign tourists came to the country, generating an income of about $ 48 billion. Health services, especially medical tourism, have also given the country international recognition.
Thailand is an attractive destination for foreign investors due to political stability and business-friendly policies. Many companies from Japan, America and China are investing here. Also, the production of minerals like natural gas, tin and tungsten has promoted industrial development.
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