The Kingdom of Thailand is recognized as one of the great success stories in terms of social and economic development. In the last four decades, the country has achieved accelerated progress that took them from being a low-income to a high-income country in less than a generation. Today it is considered a newly industrialized country and a large exporter worldwide. In addition to the industrial sector, tourism contributes significantly to the national economy.
Thailand has set forth a 20-year plan to achieve the status of a developed country through extensive reforms. These include economic stability, human capital, equal economic opportunities, environmental sustainability, competitiveness, and effective government bureaucracies. Some of the key reforms recently presented include improvements to increase their ease of doing business and improvements of state-owned companies.
There are 2.2 million immigrants in Thailand and it is recognized as a country that attracts expatriates from developing nations. With respect to Thailand’s original population, the main ethnic group is Thai, followed by Chinese and Malay and various minority groups. Its main religion is Buddhism, practiced by 95% of its population.
A curious fact: Thailand is known as "the country of smiles". This is proof of how very aware its population is of the importance of tourism in the country, making its contribution so that this continues.
GDP Growth rate:
Chiang Mai, Nonthaburi, Nakhon Ratchasima, Surat Thani
Thailand is a MIDDLE-HIGH income DEVELOPING economy.
2nd largest ASEAN economy
Diverse and heavy industrial sector
Top 10 tourism industry in the world
Principal medical tourism destination
Growing middle class and high consumption rate
Food and beverage (F&B)
High growth Sectors
Retail and food
biotechnology, advanced manufacturing, digital and creative industries, others.