This is hard to believe. Thailand practically make so much money from tourism. Thailand has the biggest tourist visitors in all asia because it is affordable cost of living and dinning. Shopping is also a great bargain. Thailand in fact is overwhelmed with the amount of daily arrivals
Tourism is a low value added industry. Wages are low in the tourism industry. Thailand doesn't have any strong high tech investments other than automobile sector. And even their automobile sector is low value, mostly concentrated in assembly. If Thailand's economy is still poor like the Philippines or Indonesia it would be fine to be reliant on assembly of auto parts & tourism. But Thailand is no longer poor & their wages are higher compared to the Philippines & Indonesia. Growth in the auto sector has also stagnated and has yet to reach pre-pendemic level. Countries like Vietnam & Malaysia are pushing hard to move up the ladder chain in the high tech sector and their government has been coming with many2 new policies & initiatives to move up the ladder. I haven't seen any from Thailand yet. Probably because the Thailand political scene has been very unstable over the past 10 years or so. What Thailand can do now that they can officially form a government is to speed up reforms and go all out on climbing up the value added chain ladder in the auto industry. Thailand should follow Mexico's footsteps. Mexico is no longer just an assembly car manufacturer, they are slowly moving up to high skilled jobs.
@@secrets.295Fyi, Minimum wage in Metro Manila is higher than Bangkok. Metro Manila, 610 pesos per day or US$10.40 Bangkok, Baht 375 or $9.75 per day. Average salary in Metro Manila is 20K pesos, not much different in Bangkok.
@@secrets.295 and don't forget that thailand is aging country unlike ph and indo, when thai need more workers due to their lack young workers thai must using migrant worker just like japan, south korea, taiwan, and other developed countries but due thai that are not developed country and not have strong currency i doubt that thai is attractive for migrant workers, and i wonder what scenario that will happen when developing country become aging and impact on their economies ? because even japan gdp shrinking due this condition
As a Cambodian what I don’t get about Thailand is their economy is really huge in every sector like tourism , manufacture and their transportation also the best among ASEAN country but their growth is really low compared to other Asia country . Maybe the corruption play the huge part ??
By 2030, you would only see two Asian countries promoted to high income. Malaysia and China. I think both Malaysia and China will achieve that around 2027/28
When one country rely on tourism, it’s very well doomed from the start. It’s not sustainable. Travellers are always going around and looking for a hypep alternative.
US will only run two options for the fed: 1. Run 0% fed's interest rates that is normally done during Republic party regime. At this state the fed will ask its members to find weak countries to earn money like in Greek. 2. High fed interest rates like now through petrodollar.
I have visited Thailand and all of its neighbours. Indeed Thailand is significantly more prosperous than all of its immediate neighbours except Malaysia.
@@Liboch Thats a lie. Lots of squalors and homeless in Thailand. The minimum wage of Bangkok, Thailand is much lower than Manila, Philippines. Country is aging fast. Thai rely mainly on tourism unlike other countries in ASEAN which has high tech industries.
@migovasquez0303 brother, Thailand is smaller than the Philippines with population of about 70 million vs PH of 115 million but Thailand's gdp is bigger. The GDP per capita of Thailand is about twice than that of PH's. Their tourism is big but constitutes only 6% of their economy. They are big in automobile industry and electric appliances. The population below poverty line in Thailand is 8% (below USD5.50/day) vs PH 18% (below USD3.50/day).
Thanks for the insightful vid
This is hard to believe. Thailand practically make so much money from tourism. Thailand has the biggest tourist visitors in all asia because it is affordable cost of living and dinning. Shopping is also a great bargain. Thailand in fact is overwhelmed with the amount of daily arrivals
Tourism is a low value added industry. Wages are low in the tourism industry. Thailand doesn't have any strong high tech investments other than automobile sector. And even their automobile sector is low value, mostly concentrated in assembly. If Thailand's economy is still poor like the Philippines or Indonesia it would be fine to be reliant on assembly of auto parts & tourism. But Thailand is no longer poor & their wages are higher compared to the Philippines & Indonesia. Growth in the auto sector has also stagnated and has yet to reach pre-pendemic level. Countries like Vietnam & Malaysia are pushing hard to move up the ladder chain in the high tech sector and their government has been coming with many2 new policies & initiatives to move up the ladder. I haven't seen any from Thailand yet. Probably because the Thailand political scene has been very unstable over the past 10 years or so. What Thailand can do now that they can officially form a government is to speed up reforms and go all out on climbing up the value added chain ladder in the auto industry. Thailand should follow Mexico's footsteps. Mexico is no longer just an assembly car manufacturer, they are slowly moving up to high skilled jobs.
@@secrets.295Fyi, Minimum wage in Metro Manila is higher than Bangkok.
Metro Manila, 610 pesos per day or US$10.40
Bangkok, Baht 375 or $9.75 per day.
Average salary in Metro Manila is 20K pesos, not much different in Bangkok.
@@secrets.295 and don't forget that thailand is aging country unlike ph and indo, when thai need more workers due to their lack young workers thai must using migrant worker just like japan, south korea, taiwan, and other developed countries but due thai that are not developed country and not have strong currency i doubt that thai is attractive for migrant workers, and i wonder what scenario that will happen when developing country become aging and impact on their economies ? because even japan gdp shrinking due this condition
Im an expat living in Thailand. Tourism dropped by half post covid. Mainly due to China's economic decline and many closed businesses never reopened.
Language barrier is another major issue which makes it even harder for those who would like to migrate for work.
As a Cambodian what I don’t get about Thailand is their economy is really huge in every sector like tourism , manufacture and their transportation also the best among ASEAN country but their growth is really low compared to other Asia country . Maybe the corruption play the huge part ??
By 2030, you would only see two Asian countries promoted to high income. Malaysia and China. I think both Malaysia and China will achieve that around 2027/28
lmao
How much do they contribute to tourism? They are the most tourists
Not much though, tourism contributes around 7% of Thailand's GDP
When one country rely on tourism, it’s very well doomed from the start. It’s not sustainable. Travellers are always going around and looking for a hypep alternative.
Middle-income trap maybe?
Yap. Partly due to low productivity
Thailand has 70m people. Malaysia just 33m.
so??
Thailand is rich! Now helping China getting more rich giving money to BRICS...😂😂😂
I dont understand.
What are you not understanding?
@@datapride if the video is accurate or not.
Number don't lie😊
US will only run two options for the fed:
1. Run 0% fed's interest rates that is normally done during Republic party regime. At this state the fed will ask its members to find weak countries to earn money like in Greek.
2. High fed interest rates like now through petrodollar.
Thailand economic crisis 😂
But Thailand people said their country is more prosperous and developed than neighbours countries 😂😂😂😂😂
They don't know what they're talking about 😢
I have visited Thailand and all of its neighbours. Indeed Thailand is significantly more prosperous than all of its immediate neighbours except Malaysia.
@@Liboch Thats a lie. Lots of squalors and homeless in Thailand. The minimum wage of Bangkok, Thailand is much lower than Manila, Philippines. Country is aging fast. Thai rely mainly on tourism unlike other countries in ASEAN which has high tech industries.
I mean Thailand indeed better than it neighbors. Cambodia Laos Myanmar still low
@migovasquez0303 brother, Thailand is smaller than the Philippines with population of about 70 million vs PH of 115 million but Thailand's gdp is bigger. The GDP per capita of Thailand is about twice than that of PH's.
Their tourism is big but constitutes only 6% of their economy. They are big in automobile industry and electric appliances.
The population below poverty line in Thailand is 8% (below USD5.50/day) vs PH 18% (below USD3.50/day).