The job market, as well as the retail and hospitality sectors, are also expected to benefit from the new accord. The tourism industry is a major source of employment in Thailand, and the agreement could lead to the creation of thousands of new jobs. And with Chinese tourists spending more time in Thailand, they will be more likely to shop and dine at local businesses.
An increase in visitors is also good news for the Thai economy. Tourism is a major source of foreign exchange for Thailand, and the agreement could lead to an increase in foreign exchange earnings by up to 1 billion baht.
