Thailand’s Q4 Employment Boost: Tourism Surge Spurs Job Growth

Thailand's Q4 Employment Boost: Tourism Surge Spurs Job Growth

Thailand’s Q4 Employment Boost: Tourism Surge Spurs Job Growth

 Thailand Witnesses Employment Surge in Q4 2023, Fueled by Tourism Revival

Bangkok, Bollywoodfever, March 3:  In the fourth quarter of 2023, Thailand experienced a notable 1.7% increase in employment compared to the same period the previous year, with the tourism sector playing a pivotal role in this growth, according to the National Economic and Social Development Council (NESDC). 

This rise follows a 1.3% year-on-year increase observed in the third quarter, underscoring a positive trend in the country’s job market.

Thailand's Q4 Employment Boost: Tourism Surge Spurs Job Growth

The NESDC highlighted a significant 8% annual growth in employment within the hotel and restaurant industry during the last quarter of 2023, attributing this uptick to the influx of tourists. This sector’s expansion is a testament to the robust recovery of Thailand’s tourism industry, which is a critical driver of the national economy.

Moreover, the unemployment rate in Thailand saw a decrease, moving from 0.99% in the July-September period to 0.81% in the October-December quarter. It’s important to note, however, that Thailand’s unemployment metrics are based on a narrow definition, considering individuals who did not work even a single hour during the survey week as unemployed. This definition often overlooks the substantial informal economy prevalent in the country, suggesting that the actual employment landscape might be more nuanced.

The NESDC’s report also revealed an increase in the size of Thailand’s workforce, which grew to 40.7 million in the fourth quarter of 2023, up from 40.5 million in the preceding quarter. This growth indicates a strengthening labor market and reflects the country’s ongoing economic recovery efforts.

As Thailand continues to navigate its post-pandemic economic resurgence, the positive trends in employment and the significant role of the tourism sector highlight the nation’s resilience and the potential for further growth in the coming years.

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Pooja Chauhan

Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

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