Located at the heart of a vibrant region, Thailand remains a superb choice for continued foreign investment. Strong fundamentals, supportive economic policies, natural assets and the country’s location in the center of the ten-member bloc of the Association of Southeast Asian Nations, or ASEAN, are the major advantages.
Given that the world economy is entering a recovery from the unprecedented coronavirus crisis, savvy investors looking for a regional powerhouse that can also serve as a hub for the entire region and beyond should look no further than Thailand.
The country with its 70-million population and an active workforce participation of 69% has one of the lowest unemployment rates in entire Asia, reflecting the diligence of its people to keep the country’s economic fundamentals strong.
With a GDP of around $502 billion as of 2020, Thailand is also the second-largest economy in Southeast Asia behind Indonesia, banking on an average GDP growth of between 3% and 4% over the last decade, in 2020 and 2021 dented by the pandemic like most other countries, of course.
Historically, Thailand has shown an astounding resilience against economic calamities such as the Asian Financial Crisis in 1997/98, the Global Financial Crisis in 2007/08, the 2011 tsunami und currently the Covid-19 pandemic, which the country – according to international experts – has handled very well.
Thailand has always shown an amazing amount of energy to recover from these blowbacks, and it certainly will when the virus crisis eventually subsides, getting back on track in terms of economic growth and social development which is reflected by a healthy and encouraging growth outlook of 3.9% for 2022 by the World Bank, marking even slightly stronger values than pre-pandemic.
This clearly shows that a time window has opened for foreign in investors who want to capitalize on Thailand’s strong macroeconomic fundamentals and the expected solid recovery momentum from the coronavirus crisis that will reboot the country’s economy at an even faster pace. This anticipated strong rebound is underpinned by the fact that Thailand has a high level of foreign exchange reserves and a sound fiscal position with low public debt of GDP at around 58% in 2021, in addition to its strong and stable currency.