The second-largest economy in ASEAN after Indonesia, Thailand has developed a positive international reputation on the back of its pro-investment policies and well-developed infrastructure, standing as one of the most liberalised and business-friendly markets in the region.
An increase in overseas patient numbers should lift earnings in Thailand’s health tourism sector this year, with double-digit growth forecast as service providers move to boost their profile and service offerings.
Setting targets for the tourism industry in Thailand has become a pleasing conundrum, with the forecasts seemingly fated to be bettered by the facts. The original goal of 24.3m for total visitors in 2013 represented an increase of 2m over 2012. When it became clear that the target was too low, a new one of 26.1m was set. Even the second number...
Some in the industry hail it as the best investment the Tourism Authority of Thailand (TAT) has ever made. TAT contributed BT2m ($65,000) to help make the Chinese film Lost in Thailand, which was shot on location in the north-western Thai city of Chiang Mai, and went on to become the highest-grossing mainland film ever. It was the first...
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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