|Thai Exchange Rate|
Thailand is counted as one of the fastest growing economies. A greater slice of its annual gross income comes from the tourism industry which has never failed to attract the foreign tourists. Several inviting spots of scenic beauty and different historical places are the reasons for the consistent boost to the growth of the country’s travel industry and overall economy.
However, there are several other factors equally responsible for the country’s vibrant growth. One of these factors is the remittance of the Thai workers working abroad. In accordance with the Thailand Migration Report of 2011, though there has been a remarkable fluctuation in the number of the Thai workers on the foreign shore for the past few years, still the number is expected to rise in the coming years. It is because, after post recession, there has been a sustaining improvement in job scenario on the international market.
Adding to the buoyancy of Thai economy is the increasing value of Thai Exchange Rate in terms of dollar. The ongoing exchange rate is anchored at 1 USD to 31 BHT. According to the recent survey, more than 150000 Thai workers are deployed abroad at present. Such a staggering increase in the number of non residential Thais can be contributed to two factors – the workers’ competency and the rising job opportunities on the global market.
When the workers are living abroad, definitely there are some transactions of money to and from Thailand. If they are away from home for scholastic purposes, chances are high that there is a regular money flow from their parents living in Thailand. On the other hand, the working professionals send money to their homeland. In the next blog, we will discuss about different options of money transfer in use to send money to Thailand.
So, wait for our next posting…………..