(MENAFN) According to a recent report by the Bangkok Post, the Thai economy has experienced a significant boost in its recovery due to an increasing number of Russian tourists visiting the country. This has led to a surge in investment from Russians in various sectors such as real estate and local businesses.
With the lifting of Covid-19 restrictions and the easing of travel limitations that had been imposed by Western nations due to Ukraine-related sanctions, there has been a sharp inflow of Russians into Thailand. This, in turn, has stimulated the recovery of Thai small and medium-sized businesses, injecting new life into the local property market.
One of the most popular destinations for Russian tourists in Thailand is the island of Phuket, which has seen a rapid post-Covid recovery in the real estate sector. According to Phatthanan Pisutwimol, the president of the Phuket Real Estate Association (P-REA), this is due to the island's popularity with foreign tourists who are seeking to escape cold weather in their homeland.
Russians are visiting Phuket in large numbers and are staying for periods ranging from one week to up to six months, with many preferring to rent pool villas. This has not only helped to boost the tourism sector in Phuket but has also led to increased investment in the real estate industry, with Russians showing a strong interest in purchasing property on the island.
Overall, the influx of Russian tourists into Thailand has been a significant boon to the country's economy, providing a much-needed boost to various sectors and helping to stimulate growth and development in the wake of the Covid-19 pandemic.
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