Thailand’s economy is undergoing major changes, with ominous signs of a downward spiral. The country has been battling slow growth since the Asian financial crisis of 1997-1998, after being a “tiger” economy for close to a decade.

 

In addition to a series of political crises, the country has also faced several other setbacks, such as the global financial crisis in 2008, the devastating floods in 2011, and the COVID-19 fallout recently.

 

It has been observed that whenever there is an economic crisis, urban migrants tend to return to the security of their villages.

 

Full story: Thai PBS 2024-02-29

 

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4 minutes ago, snoop1130 said:

he country has been battling slow growth since the Asian financial crisis of 1997-1998

 

This is definitely not what I noticed.

 

Yes there has been slow growth in the last 10 years, but after 1998 the economy was booming

The biggest mistake was the government closing multiple private businesses and bankrupting half the nation.

The civil service fared well as they were still paid each month, but the embattled private sector were thrown to the dogs.

These unfortunate people are still in debt and trouble.

13 hours ago, BenStark said:

 

This is definitely not what I noticed.

 

Yes there has been slow growth in the last 10 years, but after 1998 the economy was booming

Me neither. A drive on the highways, or an attempt to get into the town of Pattaya would suggest business is booming!

50 minutes ago, jacko45k said:

Me neither. A drive on the highways, or an attempt to get into the town of Pattaya would suggest business is booming!

Yes, since we moved back from Oz to south Surin in late 2015, the increase in traffic here on the ever-widening roads is remarkable.

If the Labour Dep't would ensure that they actually got paid the minimum wage & employers did not overcharge for their miserable accommodation  they would stay

Thailand has a high number of transient workers that will always follow the Money

I have noticed over the last six Months that their appears to be less people seeking employment in my area, as there is just not the work for them now in the Factories as there once was.