Facing a slump in its market for traditional garments and textiles, the industry in Thailand is shifting both its aim and its focus. It is starting to think of regional economies as places not only to sell jeans, suits and dresses but also to manufacture them. With the US, Europe and China seeing weak growth and costs at home going up rapidly,...
Thai retailers are moving up the value chain. What is more, they are already coming from the upper rungs, having more or less always catered to the high end. The country’s premier malls in downtown Bangkok are far more tailored to the rich than malls in the West, or even in Singapore and Hong Kong. Not only do they carry the most expensive...
Investment overseas has risen rapidly in recent years, especially in manufacturing. According to Bank of Thailand statistics, outward foreign direct investment (FDI) by Thai manufacturing companies in 2012 totalled $14.4bn, up from $8.5bn the previous year and $3.0bn in 2007. The largest manufacturing sub-sector for FDI that year was food...
Despite the political and social challenges that marked late 2013, Thailand’s economy has remained stable and is poised for further growth in the coming years. However, concerted action by the public and private sectors will be needed for the country to avoid the middle-income trap of stagnating productivity and to maintain its stance as a top Asian economy.
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