Despite the political and social challenges that marked late 2013, Thailand’s economy has remained stable and is poised for further growth in the coming years. However, concerted action by the public and private sectors will be needed for the country to avoid the middle-income trap of stagnating productivity and to maintain its stance as a top Asian economy.
Although the country’s political future appeared uncertain in the latter part of 2013 and into 2014, Thailand has remained vibrant and many of its economic sectors remained unaffected by recent tensions. On the cusp of ASEAN Economic Community (AEC) integration, due to be completed by the end of 2015, Thailand is in a strategic position to benefit from increased regional competition and cooperation, and so are foreign investors. Thailand has competitive strengths to draw on, including a central geographic location, a regional manufacturing centre for a broad array of goods and a relatively solid infrastructure base.
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