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Thailand and its influence in the World

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Thailand has faced two enormous crises in recent years. The first was a financial crisis in 1997. Thousands were laid off as the baht (the Thai currency) dramatically fell in value. The crisis was a nightmare for both the wealthy and the poor as violent protests occurred and civil unrest was threatened. Many economists pinpoint Thailand as the instigator of this financial crisis that quickly spread throughout Asia. The fact that Thailand could cause such a downfall bought attention to how significant the Thai economy is to the global economy. The Thai economy has sense recovered and has had healthy growth in recent years, especially in manufacturing and exporting.

A second crisis of recent years was the December 2004 tsunami. It is estimated that 8,500 people perished in the southern regions affected by the giant wave. Properties were destroyed and industries in the area were devastated. Because tourism is one of Thailand’s main industries, the financial impact has been significant. The country has been aggressively rebuilding devastating areas, not simply to revive the tourism industry in the south, but to rebuild people’s homes and livelihoods. Thailand has been an area targeted by relief workers and received financial aid from around the world. A marketing plan is underway to encourage tourists to come back to Thailand and enjoy the Land of Smiles. Efforts are underway to develop an early-warning system for tsunamis, which will give locals and tourists a greater sense of ease while enjoying the coastal areas.

Sources:

/www.cia.gov/cia/publications/factbook/geos/th.html
www.tourismthailand.org
lcweb2.loc.gov/frd/cs/thtoc.html –
www.lonelyplanet.com

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