Bloomberg calls Thailand a new economic star

Global financial news service Bloomberg is calling Thailand an economic star for its resiliency and reports that investors are flocking to the Kingdom.
“Among the kingdom’s attributes are a resurgence in tourism, low foreign debt and a surplus in the broadest measure of trade. That is a halo historically associated with Switzerland, Japan, or prized asset classes like U.S. Treasuries,” Bloomberg wrote, adding that investment bank Goldman Sachs likened the Kingdom to a “safe haven.”
The main caveat to Thailand’s “newfound economic stardom,” the news agency said, would be the ripple effects of a possible weakening of China’s economy. Chinese tourists make up a significant percentage of visitors to Thailand, and so slower growth in China could translate into fewer Chinese vacationing in the Kingdom, which in turn would dampen Thailand’s tourism revenues and growth.
If Thailand’s resilient economy has been flying under the radar of global attention, Bloomberg wrote, it is because the story of the Kingdom’s strengths has not been spread out enough.
Thailand could be making a bigger deal of this journey to respectability.
“Once synonymous with the crisis that brought on an Asia-wide financial meltdown a generation ago, Thailand gets almost rave reviews now. Investors are once again flocking to the Southeast Asian nation,” Bloomberg wrote.
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