Evaluation of Policy Promoting Tourism in Thailand
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Abstract
Tourism sector is a major sector that contributed high domestic demand for Thai Economy. Government budget allocated to promote tourism sector has been increased sharply in the past decade. This paper aims to evaluate effectiveness of tourism promoting policy by estimated SVAR and calculated the impulse response function. The results indicated that tourism promoting campaign can stimulate economic expansion by 2 channels: direct impact and indirect impact on GDP. The impulse of tourism promoting campaign will followed by the response of GDP with statistically significance. The results also indicated the high speed of absorbing shock on foreign tourism revenues. Following the findings, the policy in order to enhance the sustain economic expansion an also for economic development should be implemented continuously. Moreover, not only the policy for demand side but the supply management also considered to attract first visit tourists and revisit tourists in order to enhance the sustain economic expansion an also for economic development.
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References
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