Thailand, with a population of nearly 70 million people, is one of the world's most visited countries, boasting a fascinating history, distinct culture, and delectable local cuisine. It is known as the "Land of Smiles" by many and welcomes nearly 40 million tourists each year. The tourism industry is vital to the Thai economy, accounting for an estimated 18.4 percent of the national GDP.
Thailand has a mixed economy, with agriculture, manufacturing, tourism, service, and natural resources being the most important economic sectors. In 2019, its GDP was 16,879 billion baht. Tourism, automotive, and food manufacturing are among its economic growth sectors, which are supported by a well-developed transportation system, infrastructure, and communications systems. It has a low unemployment rate of one percent and an estimated purchasing power of US$6,000. Outside of Bangkok's capital city, purchasing power has increased in recent years.