Move over, Hollywood. China's movie industry, or 'Chollywood,' is getting so influential it can now save another country from recession.

The country in question, Thailand, has seen its trade balance disintegrate to a deficit of 6% of gross domestic product from a surplus of the same over the past two years. The only reason this hasn't sent the currency plummeting, and forced a recession, is that tourist inflows are acting as an offset, says Jonathan Anderson of the Emerging Advisors Group.

Net travel revenue doubled to 9% of Thai GDP today from five years ago--and like in so much else, the new demand comes from China. Visitors from the mainland jumped 93% year-over-year between January and April.

For the recent tourists, Thailand can especially thank the 2012 box-office-hit 'Lost in Thailand.' Consider that comedy China's version of 'The Hangover II,' except the movie makes Thailand seem charming, not seedy. The Thai prime minister was so grateful she even invited the movie's director for a recent meeting.

China isn't anywhere near yet to exerting the global cultural influence wielded by Hollywood. Still, there's a lot to be said for Chollywood's hard-currency clout.