Thailand

Thailand’s most critical economic sector was hard-hit by flooding in 2011 that inundated industrial estates northeast of Bangkok, but recovery has been faster than anticipated. Moreover, factories resuming production now face a build-up of latent demand that has allowed them to make up lost ground. The industrial sector is led by electronics and electrical manufacturing, which accounts for some...

The insurance industry was certainly impacted by the unprecedented flooding damage in the second half of 2011, but the disaster is leading to reform and better approaches to risk management in the public and private sectors. The damage is also expected to increase awareness of the value of insurance and raise Thailand’s below-average insurance penetration. At the same time, increased re-insurance...

Thailand’s capital markets are relatively mature, with most major private companies listed on the Stock Exchange of Thailand (SET) or one of three smaller bourses. The SET itself is somewhat unique among regional markets as it is a semi-governmental agency that borrows several features from the mutual structure. Demutualisation has been mooted several times in the past, but the current...

Thailand’s banking sector is well capitalised and highly conservative, a legacy of the 1997-98 Asian financial crisis, which left financiers in the region averse to systemic risk. It is also a very local affair, with less than 15% of assets held by foreign banks. This may change in 2015 when new banking regulations come into force, but little shakeup is expected for the time being. The banking...

Thailand’s plans to climb the ladder toward becoming a high-economy country were put on hold by disastrous floods in late 2011. Real GDP contracted 9% and losses were estimated at $44.7bn, but recovery, particularly for the hard-hit industrial estates, has been relatively swift. The focus is now on mitigating Thailand’s dependence on low-cost manufacturing exports for growth, which is risky given...

This chapter features interviews with His Majesty Bhumibol Adulyadej, King of Thailand; Yingluck Shinawatra, Prime Minister of Thailand; Surin Pitsuwan, Secretary-General, ASEAN; Lyonpo Khandu Wangchuk, Minister for Economic Affairs, Kingdom of Bhutan; William Hague, UK Secretary of State for Foreign and Commonwealth Affairs; and Tony Blair, former Prime Minister of the UK.