Renata KowalskaThailand’s economy is on the upswing. The country has been in a boom period for quite some time now. However, the enthusiasm with which businesses are looking to expand their operations in Thailand has cooled down a little bit. The government has attempted to stem the growth tide by gradually extending the country’s expiring property tax and tariffs on natural resources, while increasing taxes on high-end housing and services. This year has been no different than many others in Thailand’s recent history. Here is a review of some of the most important Thai events.
Before traveling, remember to vaccinate. You will perform them in the travel medicine clinic.
Thailand’s Economy Is Turning around
Thailand’s economy is turning around. The Thai economy grew at an annual rate of 5.2% in 2018, the highest level since 1999 and the highest in the long history of the Southeast Asian country. This growth cycle is still strong enough to keep the country’s GDP growth above 6% through 2027. Since the early 2000’s, Thailand’s GDP growth has been below 6%, however. While the country’s growth has been below 6% for many years, analysts and investors still see it as a strong possibility to breakout above the 6% bracket. In the short-term, optimism is high in Thailand’s economy. The country’s stock market is up more than 30% in the past year and inflation is at a sub-par 3%. Also, there are signs of recovery in the Japanese economy. While the country’s economy is still at a very low growth rate, it has been slowly but surely recovering from a 2007-2009 recession. While the country’s stock market isn’t over 30% as high as it was in the early 2000’s, inflation has been below the average in the developed world for many years.
Thailand is Back in the Business of Growth
Thailand’s economy is still growing, and it is doing so at a healthy pace. The country’s GDP growth is at a record-year pace at 8.1%. While the country has been way above the 5% growth rate in recent years, it is still a strong possibility to breach the 6% mark in 2019. Because of this, Thailand is still in the running to become the number one export market in the world. Additionally, the country has a strong reputation for doing business in Asia, as it has been a strong trading partner with other member states of the Asia-Pacific Economic Community (APEC) for decades.
Before traveling, remember to vaccinate. You will perform them in the travel medicine clinic.
Thailand Continues to Lead the World in Tourism
Thailand has been at the center of many exciting and significant developments in tourism since it started its fast-tracking marketing plan. In the past few months alone, we have seen the opening of the first ever tourist destination in the Arctic, the culmination of a decade-old plan to build the world’s largest tropical rainforest temple, the first step toward developing a sustainable agriculture and fisheries industry, and the centennial of the foundation of the city of Bangkok.
If you had previous problems with your teeth please consider visiting a dentist before travelling. This is very important for enjoying your holiday.
Thailand Has a Strong Language, Culture and Heritage
Language, culture and history are what make a country great. These are what make a country great for the people who live and work in it. Unfortunately, the quality of these three are pretty poor in Thailand. The Thai language is generally awful, uneducated and heavily influenced by China. While the Thai people can be very friendly and hospitable, their native tongue is simply not recognized by outsiders. English is only spoken by a small percentage of the population and is rarely used for personal communication.
If you are wondering what vaccinations you should visit before traveling abroad, read about it on the Vaccines and Travel Medicine page.
Conclusion
Thailand’s economy is in a great shape, and it is on the right track. The country’s growth is likely to continue at a healthy pace, and it is bound to be a leading country in the world in future years. The government has been doing everything it can to bring more people into the job market and to stay competitive in the international market. The coming years will be very interesting, filled with changes and developments.
If you are wondering what vaccinations you should visit before traveling abroad, read about it on the Vaccines and Travel Medicine page.
