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 has benefitted from decades of rapid industrial development to become an upper middle-income economy, with GDP growth averaging more than 7% from the 1950s to the 1990s. However, more recent decades have been marked by an ongoing struggle to escape the middle-income trap. Growth sank in 2014 following a military coup, although...
Will Thailand’s shift towards e-commerce and e-payment systems affect consumer spending?
Accounting for the majority of businesses and a significant source of employment and export earnings, small and medium-sized enterprises (SMEs) play an important role in Thailand’s economic development. The SME segment has struggled in recent years, however, and currently accounts for the largest proportion of non-performing loans (NPLs),...
To what extent did Thailand exceed expectations in 2016, and what is your outlook for 2017?
With plans to boost foreign investment in key industries, the government announced a series of new incentives and support mechanisms in late 2016 and early 2017. These new measures – many of which will be administered through the Board of Investment (BOI), the government’s investment promotion arm – are set to come into force in the first...
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