A steady demand for life products has continued to fuel growth in Thailand’s insurance market, with shifting demographics and government efforts to boost personal and retirement coverage providing opportunities for insurers. In 2017 life insurance premium totalled BT602bn ($17.43bn), an increase of 5.9%, according to the Thai Life Assurance...
The banking sector experienced mixed results in 2017. Although bank loans and asset quality benefitted from the country’s ongoing economic recovery, with operating profits rising as a result, high provisioning costs and preparations for the new accounting standards that take effect in 2020 saw net profits decline for many larger commercial...
Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing investment...
Perhaps more than any other emerging ASEAN market, Thailand has succeeded in crafting a coherent blueprint for adaptation to the rapid technological advancements that are transforming lifestyles and professions in very profound ways. In 2016 the government unveiled Thailand 4.0, an overarching vision that aims to develop a vibrant digital economy...
The 1997-98 Asian financial crisis saw many leading South-east Asian economies collapse as a result of high levels of foreign debt and rapid capital outflows following a US Federal Reserve interest rate hike. Thailand was among one of the hardest hit, with negative GDP growth of 7.6% at the height of the crisis, pushing many Thai people below...
Since coming to power after the military coup of May 2014 Prime Minister Prayut Chan-o-cha has repeatedly reaffirmed the government’s intention to lead Thailand back towards democratic rule. The general elections are now expected to take place in May 2019. While the election date has been postponed before, the convergence of key factors may...
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