Supportive Government Policy And Good Relation With Neighbouring Countries To Boost Economic Growth

By Author: Lucintel LLC
Total Articles: 7275
Comment this article

Thailand’s economy is dominated by the service sector, which contributed approximately 55.9% to the total GDP in 2016. Wholesale & retail trade is the major contributor with 15.4% of GDP. The government of Thailand is expected to increase investment on a number of projects that will help further develop on various sectors, such as infrastructure, robotics, aviation & logistics, biofuels & biochemical, digital, and medical hub. Thailand has Sustainable Development Goals which promote integrated water management, fight against corruption, and provides the policy framework and strategy to respond to changes in global economy, while promoting modernization of the industry and improving the standard of living in the country. The Thai government is focusing on developing the economy by upgrading production and service based technology, innovation, and creativity.

Lucintel, a leading global management consulting and market research firm, has analyzed the political, economic, social, technological, legal, and environmental factors of Thailand and has come up with a comprehensive research report, “PESTLE ...
... Analysis of Thailand 2017.” This report provides an analysis of the Thai economy from historical, current, and future perspectives. SWOT analysis, scenario analysis, and risk analysis of Thailand is also included in the report. The report also includes forecast for the Thai economic growth through 2022.

The report highlights various drivers and challenges which have influence on investment decisions in the economy. The Thai economy enjoys a low rate of inflation and interest which is increasing the country’s purchasing power parity. Thailand has strong foreign exchange reserve which shows the country’s currency strength. Thailand faced very challenging condition in terms of political stability, frequent occurrence of natural calamities, and social challenge of high corruption rate.