Updated March 4th, 2024 at 09:56 IST

Thailand's Q4 2023 employment spikes 1.7% driven by tourism sector

Rising tourist numbers in Q4 2023 drove an 8% annual growth in employment within the hotel and restaurant industry.

Reported by: Business Desk
Tourist influx fuels 8% job growth in hospitality sector. | Image:Pixabay
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Thailand's employment boost: Thailand saw a 1.7 per cent increase in employment during the last quarter of 2023 compared to the same period the previous year, with the tourism sector playing a major role, according to the state planning agency's announcement on Monday.

The hotel and restaurant industry experienced an 8 per cent annual growth in employment, attributed to a rise in tourist numbers during the final quarter of 2023, as stated by the National Economic and Social Development Council.

The unemployment rate decreased to 0.81 per cent between October and December, down from 0.99 per cent in the preceding quarter, the agency highlighted.

Unemployment measure concerns

However, Thailand's unemployment measure is considered narrow, only counting individuals who reported not working a single hour during the surveyed week. Analysts caution that this method may overlook the substantial informal economy in the country.

During the fourth quarter of 2023, Thailand's workforce expanded to 40.7 million, up from 40.5 million in the previous quarter, according to the planning agency's report.

(With Reuters Inputs)

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Published March 4th, 2024 at 09:51 IST