Thailand’s budgets for 2017 and 2018 will see a significant increase in spending and public investment as the government moves to boost economic growth through infrastructure development, expansion of value-added manufacturing and support for small businesses and the service economy. The 2017 budget forecasts a spending increase of over 20%...
Thailand’s National E-payment Master Plan (NEMP) is a five-pillar approach that aims to transform Thailand into a mostly cashless society through the launch of new digital and online payment options. The strategy, under development since 2014, has made major strides after the government launched the first pillar, known as PromptPay, in early...
As the hub of ASEAN, Thailand has good prospects with significant growth potential. A large current account surplus and strong international reserves make the country less susceptible to external shocks, while low inflation and a low unemployment rate indicate relatively strong economic fundamentals. Thailand is in a very competitive position...
Although stable, liquid and profitable, Thailand’s banking sector saw growth moderate in 2016 as rising defaults in the highly leveraged consumer and small business segments weighed on lending growth. Large corporate lenders have increasingly turned to alternative financing channels, most notably the short-term bond market, further impacting...
Given its low penetration rates, ageing society and the trend towards increased liberalisation, the Thai insurance sector has significant potential and growth is expected to be steady in the coming years. Thais are becoming more interested in savings and wealth-related products, and over time it is also likely that they will have a better...
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