Thailand's Finance Ministry has forecast a GDP growth of more than 3% for 2025, driven by strong domestic consumption, a recovering tourism sector, and increased investment, officials reported on Thursday.

According to Pornchai Thiraveja, Director-General of the Fiscal Policy Office (FPO), consumer spending is expected to rise by 3.3%, supported by government stimulus measures and increased agricultural income.

Exports are also forecast to grow by 4.4% as global demand picks up.

The tourism sector remains a significant economic driver, with an expected 38.5 million international visitors generating 1.83 trillion baht in revenue.

Private investment is projected to increase by 2.7%, bolstered by major projects approved by the Board of Investment (BOI), which saw investment applications reach a 10-year high of 1.14 trillion baht in 2024. Public investment is anticipated to grow by 3.4% as the government continues to advance infrastructure projects.

While the Finance Ministry projects a possible 3.5% growth under favourable conditions, Pornchai emphasized the need to monitor risk factors, including US economic policies, global geopolitical tensions, and domestic challenges such as household debt.

The ministry plans to utilize fiscal tools to promote sustainable growth, prioritize household debt resolution, and position Thailand as a regional financial hub, focusing on long-term economic resilience and global competitiveness.