Thailand's Economy

Thailand is going through a big industrialization period right now. They are focusing strongly on expanding investment in education, increasing agricultural output, and promoting import-substitution industries. The government in Thailand does an overall good job at reacting quickly and efficiently to economic problems like the world wide recession. What has really helped the Thai government grow in the past years is exporting. Thailand also grew a lot with tourism. A big thing in almost any part of the world is competition, which didn't seem to help the economy in Thailand. It turns out that relying so much on exporting wasn't probably the smartest thing to do. When exporting came to a stop, Thailand was in a great deal of trouble as they hit a huge recession in 1997. Thailand did what they had to do, they made a plan to rebuild and re-stabilize the economy. In 2002 they were back on their feet again, and what really helped with this was the recovery of internal and external demand. Overall Thailand's economy is not very steady, it is constantly moving up and down so it is hard to say what will happen in the future.

Here is a link to an article that talks about what may happen to Thailand's economy.

http://www.thailand-travelonline.com/thailand-travel-news/thai-economy-on-the-road-to-recovery/1406/