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The Economy of Thailand: More than Tourism?

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12:43 This is why I will never support PT nor MFP parties , they want to create a populist welfare state while Thai people barely pay taxes In fact, Shadow economy is 50 of Thailand’s GDP I’m so glad the 2014 coup happened Prayuth is one of the best thing ever happened to Thailand Comment from : Renormalization

Theres a lot more to Thailand than beaches or food Top medical tourist destination in Asia Small parts manufacturing Premium expat destination Etc Comment from : zvorenergy

As an American in Thailand intermittently, I think their protectionist attitudes were what gave them an advantage I think they have had the right idea in mind but the execution has not been perfect Their future depends on services They are not going to be able to grab the bottom dollar anymore but what they can do is provide for the growing economies in Laos, Cambodia and hopefully someday Burma Comment from : J F

If no more tourist,thailand economy will downhill Comment from : John brookhaven

What I loved most was how you bitched about rice farmers getting paid fairly Was that the "questionable" policy? Isn't it up to a sovereign to decide how to spend its OWN money and when to repay its debts? What's wrong with taking 8 years to repay if the repayment terms were negotiated to be flexible? Why would you bitch about that? Perhaps working for the UK foreign office? Comment from : Lucas Alexander

One of the best analysis I have seen so far about Thailand You do it better than Thai academics, thought leaders or some international institutions brbrRice scheme and first car buyer is the most absurd policy ever Not only it doesn’t make economic sense but think about global warming Everyone should do public transportation as much as possible but the policy encouraged oil consumption in new graduates from university to buy car instead of investing on something more meaningful for their lives like houses The rice policy was one of the biggest corruption in this country The government at the time was also linked to families who owns companies making car parts At the end of the day, both policies were related to the nasty corruption and cronyism which plague this country At the time there were so many poor farmers committed suicide brbrWould be interested to see you do an in-depth analysis of how Rice scheme policy destroys Thailand economy and people in agriculture This will be an excellent example for other countries not to follow the fraudulent populist policy which politicians around the world use to get the passport to power brbrIn addition, the foreign investment barriers in Thailand also deserve a meticulous analysis in the time of Thailand EEC Would love to see your take on that too brbrIn any event, salute to your excellent work 🎉 Comment from : Wadchara Pumpradit

It's a fact that every Thai farmer's family has a truck to transport their agricultural produce But the middle class of neighboring Thailand can only afford motorbikes and bicycles Comment from : san fran

If tourism kept Thailand afloat Covid would have spiralled into collapsebrYet another ignorant summary of the country Comment from : Gary Price

Thailand wasn't colonized Period The language used in this video was very euro biased Comment from : Kevin P

Last years because of work I had to travel several times to Thailand and, unlike a lot of "farangs"I begun to read a bit about the history of the country I am amazed with the striking similarities (putting aside the huge cultural and geographical differences) that you could make between Thailand and Spain It´s a pity that in Spain Thailand reamains a relatively unknown country Comment from : Adelino D

Economic slowdown before 2020 are you sure the people just didn't get wise to the usury system the global banking oppress with?brBetween that and Bitcoin I'm pretty sure it's why they handled the virus the way they did Comment from : kitch Fairman

0:50, that is not at Thailand Actually it is at Shwezigon Pagoda in Bagan, Myanmar Comment from : Phone Myat

1:20 we understand you Ukraine Comment from : Mr j

Tháiland alway follow the flowing of the wind, so they avoided the war, but maybe it’s peaple are not intelligent enough or not active like other countries peaple , so that it’s economy has not developed than other countries economy You see vietnam needs only 40 years , now vietnam ‘s economy develops very fast and needs some more years to pass Thailand economy Vietnamese , Japanese, Korean , Chinese are very intelligent , Comment from : Vietnam nature

economic explained at least has his sources listed which is something u guys are lacking Nevertheless it was an informative video but please include your damn sources next time Comment from : Adrian G

I feel like Vietnam will surpass Thailand in the future Chinesey cultures tend to have the foundation for wealth I heard it is due to face losing culture and poverty is like the most face losing association to one´s family Comment from : GunsN ́Buns

Great work mate Excellent video Comment from : Victor Nobrega

The only reason car manufactures are in Thailand is to work around the 200 import duty on foreign vehicles Comment from : Philip Devonald

No, TH is slowing down because of the stupidity of the government Comment from : DarkTealGlasses

I was born in 🇹🇭 and I wanna go study abroad and go back to help the lower class Comment from : DarkTealGlasses

Thais are the most industrious people in the world My town have a sizable thai population almost every thai has a successful business brThe women in paticular seem to be excellent in business Comment from : G F

I have been thinking about moving to Asia but searching for the right information This channel has helped Majority of my investments have shifted to Asia 60 The productivity has grown and will continue to do great I loved the opportunity the West has provided me but the current state of affairs and condition, well the kids which have been handed a great nation have really not done well with a blessing Comment from : Life is Shorts

Excellent Geat video Good fortune for Thailand Wonderful country Comment from : Euro Asia BT Limited

Make a video about Bangladesh economy Comment from : MD Ariful Islam Mozumder

Thailand has fallen into middle income trap it has neither advanced industries nor good research abilities it is a beautiful country but absolutely needs reforms and huge investments in R&D Tourism can not save a country Comment from : 可可

The main thing is Thailand colonized by British that's why they deserved to be Comment from : Mó Abrar

Thailand is growing every year but it just slow Comment from : Boon

Beautiful Thailand Project 111111111111111111111111 Comment from : อภิสิทธิ์ ปลื้มกมล

The buffer state is an excuse of British and France that they can’t take Thailand Buffer zone that British and France want is just a small area not the whole Thailand Siam was smart to play both politics and diplomatic and Siam knew they can’t trust both British and France cuz this two holding hand with each other behind the scene for benefits France used to claim war indemnity from Siam 3 millions francs and have to pay in coin in 2 day if Siam can’t pay they will use this excuse to colonize Siam and they think Siam can’t pay but our king Rama3 had been saving the money through his reign call เงินถุงแดง (red bag money) France can’t believe it that Siam can find 3 millions francs in coins so they only can colonized Laos, Cambodia and Vietnam It many more that British and France try to expand their power to Siam but we smart to play the game Comment from : nashin chan

🙏🙏🥰🇹🇭 Comment from : J1_CP

Great job, respect Thailand from vn Comment from : hikari raina

After more than one year with onerous lockdowns and no tourism, is their economy really more than just tourism? Comment from : Merle Langlois

Twenty years ago, exactly 20 years ago, the Vietnamese government encouraged businesses to compete with Thailand, we always consider Thailand's beautiful country as a standard to follow, I know Vietnam is poorer than Thailand But we will try 🇻🇳❤🇹🇭🙏🙏🙏 Comment from : Dương Quá

ASEAN countries are the Most unpredictable region, whether they able to be high income GDP percapita or no, let we see it in the future Comment from : 姚明

The other strength of Thailand that this video did not mentioned is a cultural industry Thailand has made great movies such as Ong-Bak, Shutter, Alone, Bad Genius, Brother Of The Year, Friend Zone, Homestay, The Teacher's Diary, etc Their works got high quality and are getting better And besides, Thailand's story market is growing rapidly through the internet and mobile platforms, webtoon and webnovel You did a great job, Thailand! I support you from South Korea : ) Comment from : ᄋᄃᄅ

Thailand and Vietnam are really good friend now, you are so smart avoid all the war in 20 Century Comment from : Truong Thi Goodyear

I have to give a dislike here Lot of informations here are outdated up to maximum of 9 years ago brThe growth potential of Thailand is near negative or stagnated at bestbrThe current government's claim of economic progress even contradicted to its own chamber of commerce reportsbrTrade agreement are often times dismiss for last minute PM's egotistical ideasbrEEC investment are also waste of money when it favors China companies, signing Thai to no profit dealbrThe future is just grim Comment from : Pisan To-sook

They produce some great food and drink products Comment from : Miodrag Vukomanovic

A shameless piece of self promotion, I know ha ha good lines 😄 Comment from : Manoj Shewaramani

I am Thai, Thai rice cultivation is about to change Because of the knowledge that has been passed down from King Rama IX, 30 of the area is planted 30 of rice, 30 of fish ponds are planted And another 10 for residential areas A group of workers, engineers and doctors began to buy land to plant forests In the future, the forest area of Thailand will gradually increase Comment from : Dung kung

mila coup Comment from : Bean

The only thing they can export is rice and they are at a mercy of other countries Comment from : Michael Angel

Many tourism related businesses are not officially registered that why they do not included in GDP Comment from : star

Thailand has a mixed economic system in which there is a variety of private freedom, combined with centralized economic planning and government regulation Comment from : Kristianor Levites

Lovely video, thanks for sharing Wishing you a wonderful week! Comment from : Brain FM Relaxation

Sure 😁 ดีครับ Comment from : Tavorn Investor 投资者

Definitely make more vids about Thailand including the canal Comment from : Net Warrior

Thailand has An ace up it's sleeve that narrow ithsmus needs a cannal Trust me Comment from : A C

Despite this pandemic, I am very positive for the economy of the whole ASEAN region for the coming years to come Love from the Philippines 😉🙂👍 Comment from : Mark Edison Alviz

Thailand's biggest problem IMO is its military government which has acted irrationally and not in the interests of the Thai people Hopefully there'll be a bit more pragmatism like you see in Vietnam in the future to promote economic growth not hinder it Comment from : Doug M

They're making progress Comment from : oceej Ekwam

Not like these video Comment from : syarizan sulaiman

🇮🇩🇹🇭 Comment from : efan 19

Thailand is devastated at the moment Tourism is the economy Millions more have been thrown into poverty and there are no signs of opening up or 20 million Chinese tourists showing up Comment from : Somchai

The Thai economy will crash very soon if things don't change I have never seen so many homeless and people selling on the streets Add in the corruption of the business like Thai Airways there is major problems Comment from : Mudluk

Tourism rich people many die and dump in there also It sad ! Comment from : karen karen

Talking about Thailand, showing a yacht with Turkish flag Comment from : Ersin Avseren

With that monarchy,it's kinda obvious thailand will not be developing😒😒 Comment from : Martin 11

Thailand has good potential for growth but political instability is a hinder Comment from : Malek Moqaddam

You touched on restrictive purchase/use of land Given the proximity and influence of China, this can only be a good thing The abuse that Cambodia is suffering from China (casinos, sand extraction from the Mekong), would only be repeated here Comment from : Andy Roid

im sorry but Thailand is overrated!!!! been there, there are other SEA countries that are better,, Comment from : Glitter Star

Say sorry now Comment from : VINIT MANE

Could Thaiiland be the next Singapole? Comment from : 大老表

Thailand was a threshold country 20 years ago, is a threshold country now and will be one in 20 years All countries around, especially Vietnam, have a much larger growing economy Cambodia the more willing to learn youth and Myanmar not so many rip off tourist places but also a lot to visit brHuge problems of Thailand´s economics are the low educated people, the corruption, the unstable political situation, the problems for foreigners to work in Thailand and bring some new ideas in the country and the blocked market by monopolies - to name only a fewbrGreetings from Thailand Comment from : CNX Expat

Please make a video on thai canal I want to know how it will affect the whole region as a whole and their aspects brbrThanks a bunch Comment from : Charoenpong Songdechakraiwut

China and India were the World’s richest economies for Centuries due to free trade, until the British Empire came along with their War Ships and Drugs 200 years ago China & India were both defeated and colonized into poverty brJust be careful South East Asia of the Western divide and rule strategies with their never ending wars Comment from : H Paul

I'll be selling my apartment and once sold I'll be boycotting Thailand altogether Comment from : Vicki Diana Coghlan

China's war on poverty co-produced by PBS youtube/nuaJGPZCBYU; definitely a propaganda for sure but Comment from : Yiani Zhang

Can you please make a video on Morocco? It would be really nice since there aren't videos about it on Youtube Comment from : GymRat

Thailand The land of BL series 😍😍😍🥰🥰🥰 Comment from : Minie Mouse

Please do Australia next! Comment from : reryaa

this vid is really well-made and simplified even an economic noob like me gets to understand the drives behind our economic trends Really, thank you! Comment from : Sathaphon Runtasewee

The Thai Canal Project is a white elephant Its expensive to undertake and unnecessary because there is the Malacca straight Ultimately they would not be able to recoup the expenses because they would have to charge a higher fee than passing through the Malacca straight so nobody would want to use it This project is just being pushed by the Chinese govt to augment their Belt and Road initiative which by the way is already a failure Comment from : Arville

Good on Thailand for building and expanding their manufacturing industry since stupid governments like Australia close everything, my only concern is if all those bars massage parlous close and those oulala girls go work 8n a factory? Where do l go after for tropical thai fruit juice? Comment from : Billy Stergiopoulos

Twin tower is from KL of Malaysia There are always problems with different nation photos Documentary is not a fictional soap opera It should be highly accurate Comment from : Myaun Yoe

Thanks Thailand for not beating Philippines for the worst performing economy during Pandemic! Im really proud for being the worst again! Philippines 🇵🇭 did it again!!!! Comment from : Heal the world For a better place

I have seen incredible growth over the last 40 years, compared to many western countries including my country Canada So many westerners know very little about Asian culture; the holly wood beach movies are top of mind Yes I am very interested in any info you can provide about the Thai Canal project Thanks for your insightful video I look forward to more; I appreciate your facts and objectivity Comment from : Terry Haughian

💓💓🤟🤟🇹🇭🇹🇭🇹🇭 Comment from : Col POL SEAL TIME SIX LTDSIX

Love Thailand From Malaysian Comment from : Azam Rohani

Can you make a video on the economics of an ageing population? We're struggling with this heavy in Germany Comment from : Said Mohamed

Altsimplified, honestly , your content is on the level of Economics Explained or CaspianReport(Not an economics channel, but still)brKeep up the work, I'm sure you'll get the hundreds of thousands of subscriptions your channel deserves Comment from : Augustus331

Moreover than agriculture, tourism and industry which Thailand can do well, even the industry should be more developed to be 40 or innovative industry, I think that other fields which Thailand can do well and should be more supported to be more developed is Medical Tourism and Entertainment Industry The medical sciences is very popular in Thailand and many students who have high capacity choose to study in this field, so the medical section in Thailand has many people from oversea accepted If there’s more supports and promotes, the Medical Tourism will be more developed For Entertainment Industry, even Thai entertainment industry hasn't reached the Asian or Global areana like the Entertainment Industry of Japan or South Korea does, there are many foreigners who are fans of Thai entertainment industry You can see that there are many comments in English or other languages in many Thai Films, Series or MVs For Thai songs, Thailand also starts to develop T Pop too Actually, T Pop is not something new From my point of view, I think that there are 4 eras of T Pop br1First Era - This era was during 1980s and early 1990sbr2Golden Era - This era was during 1990s to early 2000s During the 1980s, with the investment from many countries especially Japan, Thailand's manufacturing industry was developed and made Thailand become Middle Income Country With more wealth, Thailand had more chance to developed entertainment industry This era was affected much after 1997 Asian Financial Economic Crisis, but the development was still going br3Kamikaze Era - Nothing about Japanese history It is just a name of music company This era was during middle 2000s to 2010s There were many popular Boy Groups and Girl Groups from this company Some groups had Japanese and Korean members Many Thais also view that this is another Golden Era of T Popbr4Diversity Era - The current Era I think that there are many styles of Thai Boy Groups and Girl Groups and Solo Artists during this era Thanks to the online platform like Youtube, many new artists and companies have their own way to produce and distribute the songs and MVs They don’t need to depend on big companies like in the past For the Idol Style, it began after the great success of BNK48 after they and Koi Suru Fortune Cookie became very popular and became national phoenomenon in late 2017 and early 2018brMany Thai actors, artists and behind the scene working teams also work oversea including in South Korean or in the US And many Thai Entertainment products and people also won many Asian awards This shows that Thai entertainment industry has the capacity to be more developed I think that the important factor that Thai entertainment industry is still lacking of is "Continuity" We have great artists and behind the scene working teams, but the development is not so continuous If Thai entertainment industry want to go to Asian or Global areana, the development has to be continuous, not only when the industry is on the trend Like the case of Japanese or South Korean entertainment industry They have to take very long time to reach the global areana like they are today At this point, even Thailand hasn’t been able to compete with them directly yet, Thai entertainment industry can be an “alternate choice” for the global audiences when they want to find the new entertainment Comment from : THboy10

For foreigners who don't know much about Southeast Asia You may see word "ASEAN" very often in this video and other videos about Southeast Asian countries ASEAN is "Association of Southeast Asian Nations" The association was established in 1967 by the signing of "Bangkok Declaration" in Bangkok, Thailand by the representatives from Thailand, Malaysia, Philippines, Indonesia and Singapore The association aims to increase cooperation between members in many areas, such as politics and economy The association expanded when Brunei became member in 1984, Vietnam in 1995, Laos and Myanmar in 1997 and Cambodia in 1999 The members agreed to improve the cooperation from "Association" to "Community" which is much developed after 2015 Today, ASEAN has the cooperation under 3 pillars, ASEAN Political-Security Community, ASEAN Economic Community and ASEAN Socio-Cultural Community ASEAN also has the cooperation with many other partners outside the region, such as China, Japan, South Korea, (ASEAN has the cooperation with these three nations under the framework of "ASEAN+3" which began before these 3 countries have trilateral summit of their own) India, Australia, New Zealand ("ASEAN has the cooperation with these three nations and China, Japan and South Korea under the framework of "ASEAN+6"), Russia and the United States (ASEAN has the cooperation with these two nations and China, Japan, South Korea, India, Australia, New Zealand under the framework of"ASEAN+8" or "East Asia Summit") Comment from : THboy10

One thing that I like when I read the comment section is many Thais have the comments or discussions with the foreigners in English, some of them can do it very well Thai people have been criticized both in Thailand and oversea for very long time about their English ability The comment section shows that there are many more Thai people who can use English very well and there will be more Thai people with high capacity in the future Comment from : THboy10

I’ve read the comments and I found that many comments, nearly all of them, viewed Thailand so positively, even if they criticized, they criticized with academic facts and reasonable It’s really great that many people like Thailand even they have never visited the country I’m sorry if something or someone in Thailand disappointed some foreigners And I would like to say “Thank you very much” for everyone who likes Thailand :) Comment from : THboy10

To improve tourism industry in Thailand The government launched the "Touring in Minor Cites" campaign to persuade Thai and foreign tourists to travel more to minor cities, moreover than Bangkok, Chiang Mai, Phuket and other major cities, to distributed the wealth to the minor cities From my point of view, to fulfill this policy, there have to be more promotion and, like how to persuade more investors to invest more in other regions, there have to be more infrastructure development to the minor cities When the infrastructure is well developed, there will be more investments and tourism in the minor cities Comment from : THboy10

Thailand's development of economy, infrastructure mass transportation, is much concentrated in Bangkok and some industrial provinces Since the population concentrated there for works Many works are concentrated in Bangkok and those provinces due to good transportation which makes the investors want investment in the area more than other areas The government try to improve the infrastructure developments in other regions, starting from the main city in each region When the transportation and infrastructure are well developed, there will be more investments and many people can work in their own regions, need not to live in Bangkok and other industrial provinces This trend is slow but continuing Today, many big cities in many regions have some levels of development Rural Thailand is not as poor and underdeveloped as it was in the past Even there are still many more things to developed to be as equal as Bangkok Comment from : THboy10

For some countries which always say that Thailand doesn’t have any wars so Thailand has the chance to develop Thailand has some conflicts with other countries or other internal issues like other countries Even they might not be as big as other countries’ wars Moreover than the wars between Siam and Burma and other Kingdoms in the ancient time, Siam (The name was changed to Thailand in 1939) also had war with France in 1893, 1940 World War II, Communist Insurgency during the 1960s – 1980s, Southern Thailand Insurgencies, the clashes at the borders, etc Every country has their own issues Just the medias don’t report doesn’t mean that we are in peace for a long time Comment from : THboy10

Many young Thai generations are educated and can be a force for the development There are many Thai people who graduated with Engineering and Science degrees, as both degrees are important to develop the innovative economy under Thailand 40 Policy, and many Thai government agencies increase Research and Development budgets more than in the past And there are also many scholarship programs to award the students who have capacity to study Engineering and Science, both in major Thai universities and oversea This needs to take times to develop As I know, Thailand has many engineers and scientists, but the problem, along with improving education to be more quality and well distributed to every parts of the country equally, is the motivation, many people with these degrees tend to work oversea with higher salary There are some Thai people working in big high - tech companies in Silicon Valley or other parts of the US, some even work for the NASA, some work in other big high-tech companies in other countries such as Japan And many students who have capacity don't want to be engineers or scientists They tend to study medical science to be the doctors or dentists instead By the way, Thai government tries to use this point to make Thailand be the medical hub in the region If education has more quality and better distributed equally and the government has the good motivation for the people with high capacity to work in Thailand, I think that Thailand 40 Policy will not be a too far goal to reach for Thailand Comment from : THboy10

I would like to explain more about the development of Thai Economy The development of Thai economy has many levelsbrbr10 - Before 1960s - Agriculture based economybrWith the vision of King Rama IV (King Mongkut, 1804 – 1868, reigned 1851 – 1868), Siam started the modernization policy to avoid being under the Western Colonialism After the signing of Bowring Treaty, Siam (The name Siam was changed to Thailand in 1939) became part of international trade The Siamese government, Absolute Monarchy at the time, awarded the King’s Scholarships to the students from many social statuses, Royalties, Aristocrats, and Commoners, to study in many European countries to bring back the knowledge to develop and modernize the nation Most of the Thai people’s economy at the time depended on agriculture with rice as a main product while small industry was in the hands of some Chinese people and Westerners After the transition to the Constitutional Monarchy in 1932, the new Siamese government had the inspiration from Japan which could developed and became the developed industrial country The government sent many officials to Japan to study the development in Japan, the number of Thai students were also increased They found that Thailand had to develop their own Industry, Commerce and Agriculture Many governmental units and institutions were established to develop this plan The plan was interrupted by the World War II The legacy of this period exists until today that many Thai people view Japan as the model of development and has better feeling toward the Japanese comparing to other neighboring countrybrbr20 - 1960s - 1970s - Import substitution economybrDuring the 1950s and 1960s, Thai Foreign Policy during the Cold War was to be side with the US Thailand became one of the US's major treaty allies in Asia, sent the military to support the US in Korean War and Vietnam War During this period, Thailand started to develop the basic infrastructure like railroads, roads, electricity and running water Thailand also developed the basic import substitution economy There was a slogan during the 1960s as “There’s a roads, running water, electricity and works” Many Thai students received the scholarship to study in the US and became the technocrats who work for many development projects which mostly were American model Thailand also had the first Thailand National Economic and Social Development Plan in 1961brbr30 - 1980s - present - Export oriented economybrThailand has been in 30 level for more than 3 decades The beginning of Thailand's export oriented economy was during 1980s, after the signing of Plaza Accord which Japan had to increase the value of Yen This event made the production costs in Japan much higher and Japan had to find the investment bases oversea Thailand became one of the prefer areas thanks to well planed infrastructure and suitable value of Baht Many Japanese companies came to invest in Thailand, following by American and European companies Thai economy growth rapidly during late 1980s and 1990s and Thailand became middle-income country The development of Thai economy temporally stopped during 1997 Asian Financial Crisis Even Thai economy can be reconstructed years later and Thai economy is still being developed, but the economy could not be improved as much as it could due to many periods of political crisis These made Thailand stuck in Middle Income Trap And, as the wage of Thai labors is not as cheap as in the past, and the lower birth rate makes Thailand has less labors and makes Thailand nearly enter Grey Society in the near future, many investors start to consider to move their investments to other countries which have cheaper labor wage Plus with the competition of rice producing from many countries These situations made Thailand cannot rely on agriculture products and the original exported industrial products And Thai government, moreover than reforming the politics, has to launch "Thailand 40" Policy under the National Strategy 2018 – 2037 to improve the products to be more advanced and value-based with less labors in production and with higher equality The Eastern Economic Corridor or EEC, the extension of Eastern Seaboard during the 1980s development, is the area for this Policy I think that, if this policy can become true, this may be the beginning of "Silicon Valley" in Thailand and high-tech products under Thai brand And those result will make Thailand to be more developed and wealthier in the future Comment from : THboy10

The name of this video is the name I’ve thought about if there will be a video about Thai economy Thai economy is more than tourism Even it is a big part of the GDP, only tourism cannot make Thailand become the middle - income country Thailand had to develop the industry to bring the wealth and investment to the country, so the Thai economy is about the industry and tourism like in other country, not just the tourism as many people understand Comment from : THboy10

Thank you very much for your report about Thai economy This is one of the best and well balanced presentation about Thailand I have watched on Youtube :) Comment from : THboy10

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