As the first emerging economy expected to become an “aged society”, with more than 14% of the population projected to be over 65 years old in 2022, Thailand is confronting a demographic challenge to its economic development. Faced with rising public health costs and a shrinking workforce, as well as a limited pool of skilled labour, the government is moving to mitigate these problems, with investment…
Household consumption in Thailand has been constrained by an ageing population and rising consumer debt, and a string of failed stimulus packages launched in the early 2010s led to a sharp increase in the number of distressed and non-performing loans (NPLs) in the consumer segment, exacerbating already challenging circumstances. However, the tide is beginning to turn. The Bank of Thailand (BOT)…
The Belt and Road Initiative (BRI) promises to radically transform a vast swathe of the world’s trade and transport infrastructure, which will have a marked impact on how Asia does business with the world and vice versa. Historical Precedent While it is a relatively new idea, the BRI also harks back to medieval times, when the Silk Road flowed between East and West. The Silk Road was a series of…
As the first emerging economy expected to become an “aged society”, with more than 14% of the population projected to be over 65 years old in 2022, Thailand is confronting a demographic challenge to its economic development. Faced with rising public health costs and a shrinking workforce, as well as a limited pool of skilled labour, the government is moving to mitigate these problems, with…
The EEC project is one of the most important components of the government’s economic development agenda, Thailand 4.0. Strategically located along the eastern seaboard, the EEC is set to become the country’s primary investment attraction, with stakeholders moving to build on existing infrastructure, and in doing so, promote the development of 10 priority industries as highlighted in the national…
While the ASEAN Economic Community (AEC) was formally established in 2015, financial cooperation across the region remains somewhat fragmented. Goods and services move freely between countries, but banks, stock exchanges and securities companies tend to be limited to their home markets. Since the 1997-98 Asian financial crisis, ASEAN has remained focused on integrating regional financial markets.…
Under the auspices of Thailand 4.0, which targets economic growth through technology and innovation, the banking industry is slated to undergo major changes. Although banking is not one of Thailand 4.0’s strategic industries, the sector is still expected to benefit from increased deployment of financial technology (fintech). Fintech Digital innovation offers notable potential cost benefits to the…
The baht was one of the best-performing currencies in South-east Asia in 2017, making significant gains against the US dollar as macroeconomic recovery continued and foreign investment surged. A strong baht is a double-edged sword for trade and investment stakeholders, however, as some predict that Thai exporters will be negatively impacted in 2018. Thailand remains at risk of being labelled a currency…
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 well see the ballot take place. (www.creativesystems.com)…
Household consumption in Thailand has been constrained by an ageing population and rising consumer debt, and a string of failed stimulus packages launched in the early 2010s led to a sharp increase in the number of distressed and non-performing loans (NPLs) in the consumer segment, exacerbating already challenging circumstances. However, the tide is beginning to turn. The Bank of Thailand (BOT)…
