Thailand

Looking to give the country’s education system a radical overhaul, Thailand’s newly appointed minister of education is looking to greater emphasise the use of technology and boost reforms to develop a knowledge-based economy. Suchart Thada-Thamrongvech, who began his post after last month’s cabinet reshuffle, hopes the reforms will also help prepare Thailand for the next stage of ASEAN integration.

Thailand’s tourism industry is showing early signs of bouncing back from last year’s floods, with figures confirming a significant year-on-year (y-o-y) rise in visitor numbers for the first 11 months of 2011. Statistics issued by the Department of Tourism show tourist arrivals were up 21.7% on the same period in 2010, which should go some way to allaying fears that the industry could suffer long-term fall-out from the floods.

The telecommunications industry in Thailand is set for a busy year, with new 3G licences expected to be auctioned during the third quarter of 2012. At the same time, the sector’s regulator is working on a master plan that it plans to release in April.

The latest data on Thailand’s consumer confidence shows that Thais are beginning to look more positively on the future, as the government moves to boost growth and restore the country’s infrastructure after last year’s devastating flooding.

News regarding Thailand was dominated during 2011 by political change and environmental catastrophe, with both having important economic impacts. For most of the year however, the country’s investment story was one of growing foreign interest on the back of steady economic growth.

While the floodwaters that submerged much of Thailand’s economic heartlands are receding, the high tide mark of damage to the economy has yet to be reached. A full assessment of losses is still a long way from being completed, but the government is confident of a quick recovery.