Thailand’s tourism industry contributed around 7.24 percent to the country’s GDP in 2022, which increased from the previous year due to the country’s full reopening for tourism. In 2019, the contribution of travel and tourism to GDP was 21.9 percent. However, Thailand has shown a gradual economic recovery from the COVID-19 pandemic during 2022, thanks to rising international tourism arrivals. The latest value of international tourism revenue in 2020 is 3.07 percent, a decline from 11.83 percent in 2019.
A faster-than-expected rebound in international visitors to Thailand is putting the country’s economy on course to return to pre-pandemic growth by next year. Analysts in a separate Reuters poll expected GDP growth to average 3.3 this year, in line with the Bank of Thailand’s estimate, and then rise to 4.0 in 2023. In 2022, the tourism industry directly contributed 2.78 percent to Thailand’s GDP due to the COVID-19 pandemic.
The direct contribution of Travel and Tourism to GDP is expected to grow by 9.4 per cent to THB2,830.4 billion (11.6 of GDP) from 2023 to 2033. International tourism was a key part of Thailand’s GDP prior to the COVID-19 pandemic, contributing an estimated 11.5 percent of GDP in 2019. Thailand’s economic growth is projected to pick up to 3.2 in 2024 from 2.5 this year, supported by a recovery in tourism and goods exports.
Thailand’s large tourism sector, which contributed nearly 20 percent of GDP in 2019, when there were nearly 40 million arrivals, will benefit significantly from tourism revenue. In 2016, tourism revenue, at 2.53 trillion baht, accounted for 17.7 percent of Thailand’s GDP, up from 16.7 percent in 2015.
📹 The Economy of Thailand: More than Tourism?
The Thai Economy is the second largest in Southeast Asia. Being right in the centre of one of the most vibrant economic clusters …
How much of Russia’s GDP is tourism?
Last year, 56 million Russian citizens and 24. 4 million tourists visited the country, contributing 3. 47 of GDP or 3 trillion roubles to the economy. The share of tourism in GDP could grow to 5 and amount to over 5 trillion roubles, according to Oleg Safonov, Head of the Russian Federal Agency for Tourism. In Moscow, 21. 6 million people visited and spent 860 billion roubles, approximately 4 of Moscow’s GDP. Sergei Cheryomin, Head of Department for Foreign Economic Activity and International Relations, believes the potential of the tourism industry is underestimated and calls for an integrated approach.
Which country has the highest tourism percentage of GDP?
As of 2019, Macau is the country with the highest contribution of travel and tourism to its gross domestic product (GDP), with a contribution of 72. The top five countries are the Maldives, Seychelles, Saint Kitts and Nevis, and Grenada. The data presented here has been sourced from a digital data assistant.
What is the main source of income in Thailand?
Thailand’s economy is heavily reliant on exports, accounting for 58% of its GDP in 2021. As a newly industrialized country, Thailand has a GDP of 17. 367 trillion baht (US$495 billion) in 2022, making it the 9th largest economy in Asia. The country has an average inflation of 1. 06 and an account surplus of 7. 5 of its GDP. The main sectors in the Thai GDP are the industrial and service sectors, with the former accounting for 39. 2% of GDP. The agricultural sector produces 8.
4% of GDP, while the trade, logistics and communication sectors account for 13. 4% and 9. 8%, respectively. Construction and mining contribute 4. 3% to the GDP, while other service sectors account for 24. 9%. Telecommunications and trade in services are emerging as centers of industrial expansion and economic competitiveness. Thailand is the second-largest economy in Southeast Asia, with a per capita GDP of 247, 828 baht (US$7, 069) in 2022, ranking fourth in Southeast Asian per capita GDP. In 2018, Thailand held US$237. 5 billion in international reserves, the second-largest in Southeast Asia. Thailand ranks second in Southeast Asia in external trade volume.
What percentage of GDP is tourism revenue?
Tourism GDP in Australia increased by 77 percent from $35. 6 billion in 2021-22 to $63 billion in 2022-23, a $2. 7 billion increase from the pre-pandemic level. Tourism as a share of the national economy also increased from 1. 5 to 2. 5. The number of jobs filled by tourism increased from 442, 600 to 626, 400, with tourism accounting for 1 in 20 jobs in the Australian workforce. Tourism exports from international visitors increased by $20. 1 billion to $26.
1 billion in 2022-23, while tourism imports from Australian residents’ spending abroad increased by $30 billion to $41. 1 billion. Tourism consumption reached $164. 5 billion in 2022-23, up 72 percent from the previous year and $12. 1 billion higher than the pre-pandemic level. The recovery in total tourism consumption was driven by domestic household consumption, which was 27 percent higher than pre-pandemic levels. Domestic business/government consumption was 7 percent higher, while international visitor consumption was 34 percent lower.
What percent of US GDP is tourism?
In 2021, the travel and tourism gross domestic product (GDP) in the United States increased by 63 percent, while the rest of the GDP increased by 10 percent, resulting in a 2. 2 percent share.
How much money does Thailand make from tourism?
Thailand’s tourism industry generated over two trillion Thai baht in 2023, with Bangkok having the highest revenue. The southern region also saw the second highest revenue. The central region saw the highest number of visitors. The sector experienced a rapid recovery after the government lifted travel restrictions in 2022. However, the COVID-19 pandemic had lasting effects, and health and safety issues were a leading concern for travelers. A survey conducted in 2023 revealed that health and safety issues were a major concern.
The text provides general information and assumes no liability for the accuracy of the provided data. The statistics include the premium statistics for tourism GDP, foreign visitors, local tourists, and employment size in the sector.
What is Thailand’s biggest industry?
Thailand’s electronics manufacturing industry is the largest exporter, accounting for 15 of total exports leaving the country, worth approximately $55 billion. This specialized industry provides 12. 2 manufacturing jobs and is the world’s second-largest producer of hard disk drives. The plastics and rubbers category accounts for $24. 9 billion worth of total exports, followed by food, which exports approximately $17. 4 billion worth of goods each year.
Thailand’s services sector, which contributes nearly half of the total national GDP (44. 7), includes specialized industries like finance, health, tourism and hospitality, retail, communications, and banking. These services provide jobs for 37 of the formal labor force and are considered the key to future economic growth in Thailand.
How much of Thailand’s GDP is tourism revenue?
In 2022, Thailand’s tourism industry contributed around 1. 3 trillion Thai baht to the country’s GDP, a significant increase from the previous year. Thailand is a popular tourist destination known for its beautiful beaches, nature, hospitality, and rich historical sites. The tourism industry directly contributed 2. 78 percent to the GDP in 2022, ranking seventh in terms of employment. Despite the COVID-19 pandemic and strict travel restrictions, Thailand’s tourism sector is one of its largest sectors of employment and has seen a significant increase in international arrivals.
The Tourism Authority of Thailand has encouraged millions of international and domestic travelers to visit Thailand, with Bangkok and the central region generating the highest revenue from local visitors. The northern region came in third.
Which country is number 1 in tourism?
France leads the list of the most visited cities in Europe with 89. 4 million arrivals in 2019, thanks to its diverse regional cultures, historical sites, museums, gastronomy, and romantic charm. The country’s beautiful countryside, including villages, mountains, vineyards, and castles, attracts tourists. Spain follows with 83. 7 million arrivals, thanks to its historical richness, sunny coasts, architectural beauty, flamenco music, and bull running experiences.
What is the GDP breakdown of Thailand?
From 2012 to 2022, Thailand’s gross domestic product (GDP) was primarily driven by the agricultural sector, which accounted for 8. 81 percent of the total GDP. The industrial sector accounted for 35 percent, while the service sector contributed 56 percent. A total of 19 percent. It should be noted that access to all statistics is limited to those provided free of charge, and that premium statistics are not included. Access to the data set is contingent upon the execution of an annual contract, the terms of which permit renewal after a period of one year at the regular list price.
How much GDP is tourism?
In 2023, travel and tourism contributed to the global GDP by 4%, reaching 9. 9 trillion U. S. dollars. This figure is predicted to reach 11. 1 trillion U. S. dollars in 2024, surpassing pre-pandemic levels. GDP, the total value of goods and services produced in a country, is an indicator of a country’s economic strength. The United States and China were the leading travel markets before and after the COVID-19 pandemic, followed by Germany, the United Kingdom, and Japan.
The number of international tourist arrivals increased significantly in 2023, with France welcoming 100 million visitors, followed by Spain and the United States. However, the number of international tourist arrivals did not catch up with pre-pandemic levels.
📹 How fast is Thailand developing? | What is the role of tourism in their economy?
Thailand is a developing economy in Southeast Asia with a focus on exports, particularly in the automotive and electronics …
I have gone to Thailand . It’s an amazing place with good and hospitable people . Most of the area’s of Thailand are pretty much developed while in some areas there’s problems and poverty just like any other country in the world . I like Pattaya and the Aquarium in Bangkok the most . The economy is much more than tourism and the infrastructure is pretty well maintained .
As a country, Thailand is not a poor country. Thailand is a middle-income country, both in term of GDP or GDP Per Capita. One of the main problems is inequality. Wealth and opportunity distribution need to be improved. Thailand has many weak points, but also have many strong points. What Thai government and Thai people need to do is to reduce the weak points and to strengthen the strong points. Having a continue development, despite the effects of 1997 Asian Economic Crisis and many periods of Thai political crisis, means that Thailand has the capacity. Thailand doesn’t stop being developed as many Thai people think. The development is still going, even not so fast, depend on many factors in each periods. If Thailand can find the proper ways to use the capacity and resources that Thailand has, along with adjust what are still lacking, such as good and equal education, I believe that Thailand can be improved faster and more developed than Thailand has ever been.
I’ve read the comments and I found that many comments, nearly all of them, viewed Thailand so positively, even if they criticized, they criticized with academic facts and reasonable. It’s really great that many people like Thailand even they have never visited the country. I’m sorry if something or someone in Thailand disappointed some foreigners. And I would like to say “Thank you very much.” for everyone who likes Thailand. 🙂
As an American in Thailand intermittently, I think their protectionist attitudes were what gave them an advantage. I think they have had the right idea in mind but the execution has not been perfect. Their future depends on services. They are not going to be able to grab the bottom dollar anymore but what they can do is provide for the growing economies in Laos, Cambodia and hopefully someday Burma
The other strength of Thailand that this article did not mentioned is a cultural industry. Thailand has made great movies such as Ong-Bak, Shutter, Alone, Bad Genius, Brother Of The Year, Friend Zone, Homestay, The Teacher’s Diary, etc. Their works got high quality and are getting better. And besides, Thailand’s story market is growing rapidly through the internet and mobile platforms, webtoon and webnovel. You did a great job, Thailand! I support you from South Korea. : )
Besides Singapore, Thailand is the richest in Asean And the second most developed after Singapore. I’m Taiwanese in ASEAN. I’ve been to almost every country. Then the following developments: 1 Singapore 2 Thailand 3 Malaysia 4 Indonesia 5 Philippines 6 Vietnam 7 Cambodia 8 Myanmar 9 Laos respectively.
I don’t feel surprised at all. Thailand traditionally opens to foreign traders, far more than China did since 15th century. In fact, we feel safer to practice Islam and Christianity in Thailand than in China, just to name a few. Thailand will go on to become one of the most developed economies in Asia, its GDP in total matched up with that of Oman and Jordan.
As a Thai people. Our biggest problem is government. They never support made-in-Thailand technology or product fully. They never give you any fund or protective market. They’re just give you a smile and that’s it. Thai people have skilled and idea. But How could small fish swim in the big ocean with a lot of big fish? Government will never stand by your side unless you’re successful.
You forget to mention one very inportant things about Thai economy. The shadow economy in Thailand is nearly half of it GDP the higest among large economy country, there are many other countries with the same issue but they are not as extreme as Thailand. many poor people here are not actually as poor as it seems but they just dont like to declare their true income and they also dont save their money in cash or even in the Bank, the rich are even more wealthier though.There are still those who is really poor and they totally need help but many are not suppose to get help at all. It’s something that person from a develope countries wouldnt understand how it does work.
It should also be noted that Thailand has a very low population growth rate, the lowest in southeast Asia, then low GDP growth is understandable. In 2019, 3 other neighboring countries compared to Thailand, Malaysia’s GDP growth rate was around 1.3 times higher, but population growth rate was almost 5 times higher. Philippine’s GDP growth rate was around 2 times higher, but population growth rate was almost 5 times higher. Vietnam’s GDP growth rate was around 2 times higher, but population growth rate was around 3.5 times higher. Among these 4 countries, even though Thailand has the lowest growth in “GDP”, its growth in “GDP per capita” is the highest.
For some countries which always say that Thailand doesn’t have any wars so Thailand has the chance to develop. Thailand has some conflicts with other countries or other internal issues like other countries. Even they might not be as big as other countries’ wars. Moreover than the wars between Siam and Burma and other Kingdoms in the ancient time, Siam (The name was changed to Thailand in 1939) also had war with France in 1893, 1940. World War II, Communist Insurgency during the 1960s – 1980s, Southern Thailand Insurgencies, the clashes at the borders, etc. Every country has their own issues. Just the medias don’t report doesn’t mean that we are in peace for a long time.
I live in Bangkok and invest in Thailand’s economy. The only concern for me is ease of ability to move capital outside the country. I have heard of stories where foreigners have been charged with money laundering when they legally tried to move their money out after say, selling their condos. Anyway, as Indians are given tax breaks for capital gains investments along with several other countries, I feel comfortable investing. And yes, I think Thailand and Thai people have a bright future ahead, as long as they diversify and innovate.
The name of this article is the name I’ve thought about if there will be a article about Thai economy. Thai economy is more than tourism. Even it is a big part of the GDP, only tourism cannot make Thailand become the middle – income country. Thailand had to develop the industry to bring the wealth and investment to the country, so the Thai economy is about the industry and tourism like in other country, not just the tourism as many people understand.
I have seen incredible growth over the last 40 years, compared to many western countries including my country Canada. So many westerners know very little about Asian culture; the holly wood beach movies are top of mind. Yes I am very interested in any info you can provide about the Thai Canal project. Thanks for your insightful article. I look forward to more; I appreciate your facts and objectivity.
I am German and I have lived in Thailand for more than one year now. In my personal experience here in Bangkok, Thailand is far more technically and economically advanced than the statistics show. I can have a very luxurious life for a low amount of money as like in no other cheap country. Thailand is surrounded by very poor countries.
Sustainable economy theory is good for thailand because thailand can grow plants and dont worry about lacking of the food,thailand is a agricutural and industrial country 🙂 thailand is very peaceful country …people,culture,architecture,art,natural resources,the way of life,happiness,religion,unique,etc. I love thailand ….❤ 🔴⚪🔵🔵⚪🔴
1. Thailand have built every infrastructure (water supply, electricity, train, telephone, road, bank, … etc)by themselves before 1900. 2. Thailand have built the entertainment industry and light industry before 1940 (pre WW2) 3. Thailand have built the heavy industry (car, electronics, … etc) before1960 (post WW2) 4. Thailand have built express way and petroleum industry in the 80th 5. Thailand currency was attacked by George Soros in 1997. Thai companies were sold to American corp cheaply. Thai car companies were forced to sell to German and Japanese companies. 6. First Thailand’s metro trains system were finished in 1999. 7. Populism policy such as “rice pledge” and ” first car ” create huge debt between 2000 – 2010 8. The rising of tourism industry because of American movie, Chinese movie and more Thai metro trains system after 2012. Next. Thailand 4.0 ( Now, Thailand can achieve cashless society.)
I have to give a dislike here. Lot of informations here are outdated up to maximum of 9 years ago. The growth potential of Thailand is near negative or stagnated at best. The current government’s claim of economic progress even contradicted to its own chamber of commerce reports. Trade agreement are often times dismiss for last minute PM’s egotistical ideas. EEC investment are also waste of money when it favors China companies, signing Thai to no profit deal. The future is just grim.
You’re right. Those populist policies from old government during 2011-2014 were make a huge wound and damage to Thailand ‘s economy system. Hope we can bounce back and stronger. Right now new government focus on the infrastructure, logistics, green technology, develop human resources. Hope everything moves as planned and hope Covid disappear soon. It’s hurt us badly right now.
Been living and working in the manufacturing sector of Thailand for 6 years now… Here are some problems not discussed here. 1. Foreign investment is slowing down from a multitude of factors. Instability is a major one. But so are rising costs of labor and living. And better options are becoming available. Since I’ve moved here most companies I know of, including my own, have built new factories in Vietnam and Cambodia. 2. Politics here is so corrupt. Thailand is similar to that episode of The Simpsons when Hollywood goes to make the Radioactive Man movie in Springfield. They get ripped off so much that they leave. This is the bureaucratic attitude of the government of Thailand to foreigners, with this ridiculous belief that there will always be more suckers to rip off. 3. Thai people have some of the lowest confidence in the world, which holds back a lot of them from making their own businesses beyond necessary services, like bars, restaurants and hair salons. The nationalist government spends so much time teaching kids at school to behave and fit in, and very little about being innovative, creative or pushing boundaries, that they don’t have a lot of faith in themselves to succeed. Plus the country is dominated by factories from 1 country – Japan. If you haven’t worked under Japanese they have a strong sense of arrogance towards other races. They also assume authoritarian roles in the workforce. So a lot of Thais who graduate and work for Japanese companies come into careers where they are treated like 2nd class citizens in a servitude role.
One of the key goals for Thailand 4.0 is to become a global hub for electric car manufacturing. Really curious to see how the government will make it happen. There are rumors that TESLA has been talking to both Thai and Indonesian governments. The reason why Thai economy/FDI has not been so great recently is because we have been under military dictatorship government since 2013. The same prime minister for 7 years who clearly has no idea how to run a country.
To improve tourism industry in Thailand. The government launched the “Touring in Minor Cites” campaign to persuade Thai and foreign tourists to travel more to minor cities, moreover than Bangkok, Chiang Mai, Phuket and other major cities, to distributed the wealth to the minor cities. From my point of view, to fulfill this policy, there have to be more promotion and, like how to persuade more investors to invest more in other regions, there have to be more infrastructure development to the minor cities. When the infrastructure is well developed, there will be more investments and tourism in the minor cities.
As a foreigner, i have studied and worked in thaialnd for 6 yrs. Very lovely country. Sadly the world stereotype Thailand as the land of clubbing and partying but thats not the case. Those are mistly happening at tourist areas but if you go into local lives if thai people, they are really humble and respectful. But there is a big downside as myself being a foreigner. No matter how long you stay in thailand, you will always feel like your an outsider. Thats the reason i have have left the country
I am Thai, Thai rice cultivation is about to change. Because of the knowledge that has been passed down from King Rama IX, 30% of the area is planted 30% of rice, 30% of fish ponds are planted. And another 10% for residential areas A group of workers, engineers and doctors began to buy land to plant forests. In the future, the forest area of Thailand will gradually increase.
Also the problem of thailand is the fact that bangkok is exponentially bigger than its other cities which may make the country an authoritarian in the near future because of the income inequality within these regions in the near future, growing more so because of the fact that population decline is growing ever more sightly that can lead to ageing population dilemma… but hey that just a theory, an guy in the internet theory!
To attacking Vietnamese here: Stop spreading negativity. China is buying your country along with Lao and Cambodia to gain their hands over ASEAN affairs. Your jealousy is only becoming their tools for achievement of their One China campaign in ASEAN domination. You’re fool to think they’ll let you borrow their money for granted just to let your petty wish to win the region economic race come true. The competition itself is nonsense. I always don’t understand why you Viet are so obsessed to be No.1. Development needs time and perseverance, not just winning every games.
If Thailand’s economics relies on tourism alone as accusations, why its economic growth is always declining along the last 2 decades of tourism booming period till today ? You can see from statistics Thailand’s economic growth started peaking 60 years ago and is slowly declining in linear trend till today. Haters please be rational. No accusing/trolling with fake story, stereotypes, autocrat nor dictation, please.
As I am Thai, I am thankful to you on briefly clip about Thai economy. I has seen many aspects that I have never seen from you. In Thailand, Everyone are really working hard to survive each day through traffic congestion, crimes, etc. Then, some of people blame on government fault to make country to become worse. Surely, it is about minimum wages. I really understand more after perusal your clip. Moreover, the Thai canal is two-edged sword to be Thai and ASEAN game-changer in the future because our country usually have a army structure conflict and we are trying to use our resources to strengthen army as much as possible to deal with two superpower, USA and China. For me, the real game changer is Thailand 4.0 mega project+ EEC because this would make Thailand can catch up new trend by allowing private company from foreign company comes to set the factory to change EEC to be new zone that consists of many kinds of business from foreign funds. P.L. This is all my thought about this clip. Anyway, thank you to make brief clip for Thailand.
One thing that I like when I read the comment section is many Thais have the comments or discussions with the foreigners in English, some of them can do it very well. Thai people have been criticized both in Thailand and oversea for very long time about their English ability. The comment section shows that there are many more Thai people who can use English very well and there will be more Thai people with high capacity in the future.
The buffer state is an excuse of British and France that they can’t take Thailand. Buffer zone that British and France want is just a small area not the whole Thailand. Siam was smart to play both politics and diplomatic and Siam knew they can’t trust both British and France cuz this two holding hand with each other behind the scene for benefits. France used to claim war indemnity from Siam 3 millions francs and have to pay in coin in 2 day if Siam can’t pay they will use this excuse to colonize Siam and they think Siam can’t pay but our king Rama3 had been saving the money through his reign call เงินถุงแดง (red bag money) France can’t believe it that Siam can find 3 millions francs in coins so they only can colonized Laos, Cambodia and Vietnam. It many more that British and France try to expand their power to Siam but we smart to play the game.
One of the best analysis I have seen so far about Thailand. You do it better than Thai academics, thought leaders or some international institutions. Rice scheme and first car buyer is the most absurd policy ever. Not only it doesn’t make economic sense but think about global warming. Everyone should do public transportation as much as possible but the policy encouraged oil consumption in new graduates from university to buy car instead of investing on something more meaningful for their lives like houses. The rice policy was one of the biggest corruption in this country. The government at the time was also linked to families who owns companies making car parts. At the end of the day, both policies were related to the nasty corruption and cronyism which plague this country. At the time there were so many poor farmers committed suicide. Would be interested to see you do an in-depth analysis of how Rice scheme policy destroys Thailand economy and people in agriculture. This will be an excellent example for other countries not to follow the fraudulent populist policy which politicians around the world use to get the passport to power. In addition, the foreign investment barriers in Thailand also deserve a meticulous analysis in the time of Thailand EEC. Would love to see your take on that too. In any event, salute to your excellent work 🎉
You’ve overlooked too key factors: 1. Thailand has exhausted its labor supply. (The population distribution skews older, similar to Japan). To address this, Thailand imports a huge amount of labor, mostly from Myanmar but also Laos and Cambodia. In 2018, the official number of Burmese in Thailand was 2 mil, the real number is around 5 times that. While this keeps labor cost low, it posses other challenges such as the required training in language and skills makes climbing the value-added tree even more difficult. 2. Thailand was, and still is, divided into two factions. The old aristocracy and military bitterly resist root and branch changes to uplift the country as a whole. Schemes like universal healthcare (30 baht raksa took rok) which is now better than many western countries including the US and OTOP (each village encouraged to have their own product/production base) could only be enacted during times with a civilian elected government (which is rare in Thailand e.g. The country’s been under military strongman Gen Prayuth for the last 6 years) and even then with significant resistance from vested interest whist many others like more comprehensive land redistribution could not be pushed through at all. This loggerhead will continue to remain a millstone for the foreseeable future. Note: The canal project you mentioned at the end is “Klong Tod Kra” it’s been in the pipe for upward of 30 years. It won’t get built. For decades, Singapore, very unofficially of course, has been “subsidizing” whichever official is in charge at the time to ensure they don’t green light it.
Many young Thai generations are educated and can be a force for the development. There are many Thai people who graduated with Engineering and Science degrees, as both degrees are important to develop the innovative economy under Thailand 4.0 Policy, and many Thai government agencies increase Research and Development budgets more than in the past. And there are also many scholarship programs to award the students who have capacity to study Engineering and Science, both in major Thai universities and oversea. This needs to take times to develop. As I know, Thailand has many engineers and scientists, but the problem, along with improving education to be more quality and well distributed to every parts of the country equally, is the motivation, many people with these degrees tend to work oversea with higher salary. There are some Thai people working in big high – tech companies in Silicon Valley or other parts of the US, some even work for the NASA, some work in other big high-tech companies in other countries such as Japan. And many students who have capacity don’t want to be engineers or scientists. They tend to study medical science to be the doctors or dentists instead. By the way, Thai government tries to use this point to make Thailand be the medical hub in the region. If education has more quality and better distributed equally and the government has the good motivation for the people with high capacity to work in Thailand, I think that Thailand 4.0 Policy will not be a too far goal to reach for Thailand.
Last years because of work I had to travel several times to Thailand and, unlike a lot of “farangs”…I begun to read a bit about the history of the country. I am amazed with the striking similarities (putting aside the huge cultural and geographical differences) that you could make between Thailand and Spain. It´s a pity that in Spain Thailand reamains a relatively unknown country….
Interesting, but the big absent in this article seems to be the large capital. In the article, I haven’t heard anything about the giant private corporations, like the CP group, the large Banks, SCG, etc., that own and control a large part of the economy and have as much relevance, power, and influence as the State-Owned Enterprises.
The current government is lacking of knowledge and making decisions. As a Thai I believe this country has everything it’s need to push the economy but to be real, the majority of Thai don’t really care about the number of the GDP as much as quality of life. Lucky we experienced the fall of the economy in the year 1997, the economy itself is quite strong now in my eyes.
Thailand’s development of economy, infrastructure mass transportation, is much concentrated in Bangkok and some industrial provinces. Since the population concentrated there for works. Many works are concentrated in Bangkok and those provinces due to good transportation which makes the investors want investment in the area more than other areas. The government try to improve the infrastructure developments in other regions, starting from the main city in each region. When the transportation and infrastructure are well developed, there will be more investments and many people can work in their own regions, need not to live in Bangkok and other industrial provinces. This trend is slow but continuing. Today, many big cities in many regions have some levels of development. Rural Thailand is not as poor and underdeveloped as it was in the past. Even there are still many more things to developed to be as equal as Bangkok.
During January 2021, water dams of western Turkey have only 15 percent water in their reservoirs. I am living in the capital of Turkey Ankara, the weather is getting colder and colder in the middle of desert style terrain with full of mountains and lack of all kinds of forests, trees, plants, wild animals and the heat is minus 7 degrees right now, in 2 hours west Bolu city and Duzce city have minus 13 degrees centigrate heat outside. Don’t you prefer to live in Thailand instead of 4 seasons possessing, mainly arid, desert style country like Turkey with little incomes per month and no perks from the governments and not enough Foreign direct Investments because of being muslims believers, with 90.000 mosques in the country. Sweden’s GDP per head is 80.000 USD, Turkey’s GDP per se is 8500 USD in 2019 with similar winter conditions in both of the countries. Minimum net wage of Turkey where 10 million out of total of 24 million bule and white collar workers get 280 euros per month in 2021. 2.100.000 pensioner turkish nationals get net 200 euros per month in 2021. Highest pension net wage is 850 euros in Turkey. 597 water dams in Turkey have been done, built. 2 nuclear plants have been in work in progress in Turkey in comparison to Germany’s 17 and France’s 56 nuclear power plants to generate cheap energy for factories, for tourism, hotels, intercity lightning. 250 universities exist in Turkey and in Northern Cyprus to give enough university education. Turkey’s public buses are brand new and very clean compared to Thailands.
I love Thailand. It’s great as a tourism destination, sure, but unlike its SE Asian counterparts, the quality of English amongst its college-educated population is still fairly poor. This limits the Thai workforce quite a bit and the nation loses out investments and opportunities that go elsewhere, like Malaysia and Philippines, just because of the English advantage those nations have. The Thai baht is strong too so that doesn’t help it’s manufacturing sector to stay competitive either. Regardless, they handled COVID-19 better than Malaysia, Indonesia, and Philippines despite all the unrest against the royal family. May Thailand recover well. I’m more than happy to visit to help their tourism industry thrive again.
Thailand was a threshold country 20 years ago, is a threshold country now and will be one in 20 years. All countries around, especially Vietnam, have a much larger growing economy. Cambodia the more willing to learn youth and Myanmar not so many rip off tourist places but also a lot to visit. Huge problems of Thailand´s economics are the low educated people, the corruption, the unstable political situation, the problems for foreigners to work in Thailand and bring some new ideas in the country and the blocked market by monopolies – to name only a few. Greetings from Thailand.
Moreover than agriculture, tourism and industry which Thailand can do well, even the industry should be more developed to be 4.0 or innovative industry, I think that other fields which Thailand can do well and should be more supported to be more developed is Medical Tourism and Entertainment Industry. The medical sciences is very popular in Thailand and many students who have high capacity choose to study in this field, so the medical section in Thailand has many people from oversea accepted. If there’s more supports and promotes, the Medical Tourism will be more developed. For Entertainment Industry, even Thai entertainment industry hasn’t reached the Asian or Global areana like the Entertainment Industry of Japan or South Korea does, there are many foreigners who are fans of Thai entertainment industry. You can see that there are many comments in English or other languages in many Thai Films, Series or MVs. For Thai songs, Thailand also starts to develop T Pop too. Actually, T Pop is not something new. From my point of view, I think that there are 4 eras of T Pop. 1.First Era – This era was during 1980s and early 1990s. 2.Golden Era – This era was during 1990s to early 2000s. During the 1980s, with the investment from many countries especially Japan, Thailand’s manufacturing industry was developed and made Thailand become Middle Income Country. With more wealth, Thailand had more chance to developed entertainment industry. This era was affected much after 1997 Asian Financial Economic Crisis, but the development was still going.
This is a well-made article. Thailand is much more than tourism. However, political instability slows things down for decades now. The new graduates now cannot even make their ends meet, the employers are taking more and more advantages of the younger people, and the people who can afford are moving abroad more and move. We have the potential, but we also have issues, which is why the younger people like me now go on the street.
This is funny since it is in English not in Thai.. So, just who is the article made for and who benefits from it? Thailand has been ravaged by capitalism and the rich keep getting richer leaving many thia’s behind. Considering that the ones who can understand this article are the ones that have no understanding of these capitalists. Capitalism only sees “resources”.
Tháiland alway follow the flowing of the wind, so they avoided the war, but maybe it’s peaple are not intelligent enough or not active like other countries peaple, so that it’s economy has not developed than other countries economy. You see vietnam needs only 40 years, now vietnam ‘s economy develops very fast and needs some more years to pass Thailand economy. Vietnamese, Japanese, Korean, Chinese are very intelligent,