• Thai Economy Set for Higher Growth in 2012 and 2013
• Thailand Can Serve as Logistics Hub, Play Leading Role for ASEAN
• Wind Energy Company Announces $550 Million of Projects by 2016
• “The Lady” and Thailand’s Growing Movie Industry
• “Miracle Thailand Year 2012” Tourism Campaign Set to Launch

The Thai economy is expected to recover in a “V” shape with a 5 percent GDP growth forecast for 2012, Prime Minister Yingluck Shinawatra told the audience at the Economic Reporters Association on 1 February. Last year’s floods had tremendous impact on Thailand’s economy affecting more than 16,000 factories and slashed its growth to 1.5 per cent from the 4.5 percent projection. This year’s growth will be driven by the government’s planned investment in megaprojects and flood prevention projects. The government would also be looking for new export markets in India, the Middle East and member countries of the Association of Southeast Asian Nations (ASEAN).  Meanwhile, the Bank of Thailand’s Deputy Governor said on Friday that Thailand is projected to grow 5.6 percent in 2013.   Read more

The Thai government has adopted the policy of “three economic rings and five trade gateways” in its plan to make the most of Thailand’s strategic position within Southeast Asia.  With this policy and its well-developed infrastructure and logistics networks, Thailand – the second largest economy in the Association of Southeast Asian Nations (ASEAN) – is poised to play a leading role as a logistical hub when ASEAN becomes the ASEAN Economic Community in 2015.  ASEAN now has a combined population of 600 million people and a combined GDP exceeding US$1.8 trillion. ASEAN’s economy is expected to grow percent this year.  Read more

Bangkok-based Wind Energy Holding Co. announced on 1 February its plans to build three wind farms in Korat, Thailand.  This will be Thailand’s first utility-scale turbine project. The project – expected to be connected to the grid by 2016 – is estimated to cost about US$550 million with expected total electricity generation capacity of 270 megawatts.  Siemens AG is supplying the project with 90 wind turbines.  The company’s efforts are in line with Thailand’s goal of obtaining 25 percent of its electricity from renewable sources by 2022, moving away from its use of foreign oil, 80 percent of which it currently imports. Read more

Thailand continues to be a top destination for Hollywood and international movie producers.  The latest movie, filmed in Thailand, to go on screen was “The Lady,” a movie about the life of Aung San Suu Kyi. Prime Minister Yingluck Shinawatra, who met the 1991 Nobel laureate in Myanmar on 20 December last year, attended the 1 February premiere and met with Luc Besson, the film’s director and Michelle Yeoh, a Malaysian actress who portrays Aung San Suu Kyi. The movie will also be released in the U.S. this month.  Read more

Thailand’s Tourism and Sports Ministry is set to launch its US$200 million tourism campaign "Miracle Thailand Year 2012" in April.  At a forum organized by the Federation of Thai Tourism Associations on 30 January, Prime Minister Yingluck Shinawatra promised the government’s full support to help Thailand maintain its regional leadership in tourism. Despite last year’s flooding, more than 19 million people visited Thailand in 2011, a 20 percent increase from 2010. This included over 680,000 American tourists, an increase of 12 percent from 2010.  Meanwhile, the Thai Hotels Association predicts a growth of 8-10 percent this year for the hotel occupancy rate, while room rates are expected to increase by 5-8 percent. Last year's occupancy rate was 64 percent, up from 53 percent in 2010.   More here

In this issue

• Executive Summary
• Thai Economy Set for Higher Growth in 2012 and 2013
• Thailand Can Serve as Logistics Hub, Play Leading Role for ASEAN
• Wind Energy Company Announces $550 Million of Projects by 2016
• “The Lady” and Thailand’s Growing Movie Industry
• “Miracle Thailand Year 2012” Tourism Campaign Set to Launch

Thailand at a Glance

December Key Indicators

Export: $16.9 billion
Import: $17.1 billion
Export growth rate: -2.1%
Import growth rate: 19.6%
Trade Balance: -$0.2 bil.
Unemployment: 0.8%
Core inflation: 2.66%
Headline inflation: 3.53%

2011 Forecast

GDP: $355.4 billion
GDP growth: 1.5%
GDP per capita: $5,258

2012 Forecast

GDP: $380.2 billion
GDP growth: 4.5-5.5%
GDP per capita: $5,599

Archives

January 30, 2012 January 23, 2012 January 17, 2012 January 9, 2012 January 3, 2012 December 26, 2011
December 19, 2011
December 12, 2011
December 5, 2011
November 28, 2011
November 21, 2011November 14, 2011 November 7, 2011October 31, 2011 October 24, 2011 October 17, 2011
October 11, 2011
October 3, 2011
September 27, 2011
September 19, 2011
September 12, 2011
September 6, 2011
August 30, 2011
August 22, 2011
August 17, 2011
August 10, 2011
August 3, 2011
July 26, 2011
July 20, 2011
July 13, 2011
July 6, 2011
June 29, 2011

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