34 minutes ago, Purdey said:

Unfortunately, if the People's Party were to win 100% of the seats on Sunday, they would still be disqualified for some reason and the old dinosaurs will be cackling as they divide the spoils among them.

It is essential for the old parties to keep the status quo (not the rock group) and what do they care about the economy, with their Swiss bank accounts and their Watneys Red Barrel... And wealth overseas.

Hence the tbhts strength. It dosent help exports it dose not help tourism the only prople it helps are those shifting money out of Thailand.

A strong commitment to AVOID change.
Thailand, IMO, does think of itself as the center of the universe, one of only 3 countries to never have been colonized. Many Thais continue to see this as an asset, the country has never assimilated into the full global world, let alone the SE Asian economy. Tourism is a poor long-term goal or solution, not much skill involved in cleaning rooms and preparing a continental breakfast, and the environmental pressure on beach resorts is truly terrible -- and unsustainable.
Critical thinking is still missing -- perhaps in hiding -- and there is little incentive for Thais to take on business or entrepreneurial risk. I have approached several factories over the years with good business opportunities and the answer has often been that they don't want to work that hard. At the same time, Bangkok lawyers and accountants are charging New York partner rates -- which is so absurd for so many reasons.

Opportunities are missed, long term growth is retarded, and political and social corruption are tolerated, if not encouraged by a systems that support the notion of paying villagers for their election votes.

There is a lot of opportunity in Thailand, but so many structural issues to overcome.

On 2/4/2026 at 7:50 AM, atpeace said:

Don't forget the the number one old man adage - the Thai baht is too strong!

Live goes on and Thailand inevitably will adjust if needed. This has been the slowest domestic tourism season I have experienced in my local tourist town. Maybe Thais are adjusting to debt and not accumulating it as quickly as prior years. Debt is fun until it becomes a nightmare.

Last guest house where I stayed in Patong on Soi Banzaan has doubled its price in 4 years. Meanwhile they have done virtually no maintenance, shower heads broken, chairs that break underneath you, and elevator that can now only tolerate 3 people without getting stuck. I myself bought some glue at 7-11 and with my own tools did repairs. Did they even so much as offer me a free beer or express gratitude? Nope. Most of the good guest houses have gone out of business, the rest are mostly for sale or been sold. This is "high season" is what they think. But the reviews they get this year will tell in the off season and then next year at this time. I'm not going back to Patong.

The population is aging out. So it's all your fault you bunch of old ƒart expats. That said, economies are nearly impossible to manage even by people who know what they're doing. It's a world economy now, and one has to think globally and not just about your own back yard. Trump's Tariffs aren't helping either. Nonetheless, this is still better than that horror movie back in the US, and I'm still quite glad I came here.

On 2/4/2026 at 4:27 AM, Georgealbert said:

Thailand is being labelled the ‘sick man’ of Asia by analysts, as its economy stagnates amid political paralysis and demographic decline. The nation’s growth, struggling below 3%, lags far behind regional neighbours like Vietnam and the Philippines, which are surging ahead with over 5% expansion. This marks a stark reversal for a country once celebrated as a leading ‘Asian miracle’ economy.

The current weakness stems from long-term structural issues rather than a single crisis. Following the 1997 Asian financial crisis, Thailand rebuilt on exports, manufacturing, and tourism, but these engines are now faltering. Political instability, with repeated coups and fragile coalitions since 2006, has created policy paralysis, discouraging long-term investment.

Economists point to an ageing population as a critical threat, with the workforce set to shrink within a decade. Concurrently, high household debt and an education system failing to produce needed technical skills limit competitiveness. This has left Thailand vulnerable to the ‘middle-income trap’, unable to compete on low wages or high-tech innovation.

Investor confidence is weakening as global companies seek more dynamic markets with clearer policy direction. Domestic frustration is also growing, with households seeing little improvement in living standards and inequality widening between Bangkok and rural areas. The situation creates a cycle where instability undermines growth, and weak growth worsens social tensions.

The Financial Times analysts say recovery is possible but requires decisive reforms in education, immigration, and governance. Investment in green energy and advanced manufacturing is also cited as a priority to modernise the economic model. Without such steps, Thailand risks long-term decline in regional influence and prosperity.

Key Takeaways

· Thailand's economic growth has slowed to under 3%, significantly behind major Southeast Asian neighbours.

· Political instability and rapid population ageing are identified as key structural drags on development.

· The country's education system and high household debt are hindering a transition to a higher-value economy.

  

Adapted by ASEAN Now from FT 2026-02-04

 

 

View full record

Let's review

Assuming there was the political will and intellectual ability it would take thirty years to turn the Education system around although some improvement might be seen in ten years focusing on only the top schools and students as sort of a triage.

Politics. Nothing is going to change here and post coup election shenanigans demonstrate this. Moreover, we see old faces like not only Abasit, but Chuan Leekpai. Of course, same tired parties promising free, short term money and stuff.

Financially, the nation is strapped with debt and continues to borrow to give people that free stuff. Numerous financial officials called this out just this week. Then you have the sad, uneducated consumer strapped with unmanageable debt which fixing this alone will probably add 1.5% to GDP. Only one party even thinking about this. Political/ Government innovation is practically non existent. Reducing headcount and fte reduces pro status quo voters and lethargy continues.

Innovation in science and technology is non existent. Appears Thailand is losing not gaining foreign contracts and agreements. What's left is stalled in bureaucracy while everyone ensures they get their slice. Universities are a bastion of mediocrity.

Tourism and the ridiculous level the Thai baht trades at is also a key economic metric that is being ever dragged into the abyss. We add b500 for cleaning airport toilets and sweeping floors.

Thailand with it's debt may be forced to let go of its currency...it may end up not being their decision at all.

Trade is lackluster outside the country. Thailand has created all sorts of issues with US Trade deal with which it of enjoys massive trading balance. The US has been nothing but kind in this regard ignoring so much imbalance and mischief.

Thailand has a war of attrition on its border. All this will do is suck money out of the economy and country. To be certain, Cambodia has a hand in this to be sure. Nevertheless, it's a drain in both blood and treasure

Medical costs continue upwards providing lesser value per year. Legalized double pricing for foreigners.

Taxing foreigners income is a bitter pill. This is evidently leading to departures

Through all this the expatriate is ignored, even asked to pony up more. Thailand would do well by passing a foreigners bill of rights so to speak that would grant those married over 15 years PR, rights to own two rai of city property, and such to reduce immigration headaches to nothing. Perhaps 20 years PR for single retirees.

The common thread in all of this is stagnation, inability to adapt and change, corruption and lack of innovation.

Many of us are old, we have families and are settled. Yet, I would offer to any younger person (40-50) to get in on Vietnam. Learn the language and how to navigate that system.

My two satang

32 minutes ago, Nurf said:

Financially, the nation is strapped with debt and continues to borrow to give people that free stuff.
---

Thailand with it's debt may be forced to let go of its currency...it may end up not being their decision at all.

This is from Chartchai Parasuk:

"Recently released economic data for December 2025 confirm that the economy is unlikely to avoid a financial crisis, as the government will require 860 billion baht in financing this year. Given weak economic growth, domestic sources of funding are insufficient, forcing the government to rely almost exclusively on external financing."

With all the debt, he says there isn't enough domestic money to loan to the government to keep it running, meaning they have to turn to foreigners, but Thailand already had a weak offering late last year. If the foreign market doesn't buy 860 billion in bonds, there will be a crisis in about six months.

59 minutes ago, davb said:

This is from Chartchai Parasuk:

"Recently released economic data for December 2025 confirm that the economy is unlikely to avoid a financial crisis, as the government will require 860 billion baht in financing this year. Given weak economic growth, domestic sources of funding are insufficient, forcing the government to rely almost exclusively on external financing."

With all the debt, he says there isn't enough domestic money to loan to the government to keep it running, meaning they have to turn to foreigners, but Thailand already had a weak offering late last year. If the foreign market doesn't buy 860 billion in bonds, there will be a crisis in about six months.

Thanks.

Thai Examiner as usual has covered this extremely well.

https://www.thaiexaminer.com/thai-news-foreigners/2026/02/04/business-warns-populist-economic-policies-are-not-what-the-thai-economy-needs-to-address-its-problems/

Thailand will just continue to lose tourists to Vietnam, and then will blame everyone and everything other then their own policies

No drink on beach.
No smoke on beach.
No go into water when surf is good for surfing.
No take picture standing on "sacred ancient wall" built in 1960.
No take picture of sacred monk.
No take picture under "sacred tree with scared ribbon" as it will scare way the Pii and other ghosts.
No take picture on anyone on the street - blur everyone face. Blur all license plate. Just blue entire picture or else.
No take any pictures and you'll be safe. Much better.
No use squirt-guns. No throw water.
No have loud party. Very disrespectful Only Thais allowed to blast music from truck sized speaker.
No take picture of truck sized speakers and sexy dancing girls.
No have sex with sexy dancing girls. No have sex at all. Have sex at home or in Vietnam.
No smoke ganja. Ok you can smoke ganja. No no no, no smoke ganja again - you get put in jail.
No holding hand in sacred <list including temples, trees, spirit houses, streets, tuk tuks, taxis, park, beach> places.
No drink between 2pm to 5pm. Ok you can drink between 2pm to 5pm. We think make law again no drink between 2pm to 5pm
No write review about your hotel if service no good.
No write review about Thai food if food no good.
No talk disrespectful about Durian or Paa-Laa or Somtum.

No have fun. If you want fun, go to Vietnam.



Best to stay out of tourist traps and just move to rural Thailand and live like the natives. Be generous to your village neighbors and your Buddhist temple. Post your pictures on Facebook of villagers and you and once sexy wife giving money and food to monks and giving away prizes to villagers during festival. Everyone will love Uncle Farang and sexy respectable Thai wife who was Thai nightclub singer and sexy dancer respectable business owner but now old enough to be called "Bpaa" and "Yaai" and "Pii" and is graying respectable villager.

👆

฿฿฿฿฿Wife is here! ฿฿฿฿฿฿

On 2/4/2026 at 6:43 AM, redwood1 said:

Lady drinks, lady fees, and bar fines are too expensive now

Actually , proportionately those rates have remained the same over the last 20 years . the young ladies charge by the kilo !

14 minutes ago, connda said:

Thailand will just continue to lose tourists to Vietnam, and then will blame everyone and everything other then their own policies

No drink on beach.
No smoke on beach.
No go into water when surf is good for surfing.
No take picture standing on "sacred ancient wall" built in 1960.
No take picture of sacred monk.
No take picture under "sacred tree with scared ribbon" as it will scare way the Pii and other ghosts.
No take picture on anyone on the street - blur everyone face. Blur all license plate. Just blue entire picture or else.
No take any pictures and you'll be safe. Much better.
No use squirt-guns. No throw water.
No have loud party. Very disrespectful Only Thais allowed to blast music from truck sized speaker.
No take picture of truck sized speakers and sexy dancing girls.
No have sex with sexy dancing girls. No have sex at all. Have sex at home or in Vietnam.
No smoke ganja. Ok you can smoke ganja. No no no, no smoke ganja again - you get put in jail.
No holding hand in sacred <list including temples, trees, spirit houses, streets, tuk tuks, taxis, park, beach> places.
No drink between 2pm to 5pm. Ok you can drink between 2pm to 5pm. We think make law again no drink between 2pm to 5pm
No write review about your hotel if service no good.
No write review about Thai food if food no good.
No talk disrespectful about Durian or Paa-Laa or Somtum.

No have fun. If you want fun, go to Vietnam.



Best to stay out of tourist traps and just move to rural Thailand and live like the natives. Be generous to your village neighbors and your Buddhist temple. Post your pictures on Facebook of villagers and you and once sexy wife giving money and food to monks and giving away prizes to villagers during festival. Everyone will love Uncle Farang and sexy respectable Thai wife who was Thai nightclub singer and sexy dancer respectable business owner but now old enough to be called "Bpaa" and "Yaai" and "Pii" and is graying respectable villager.

👆

฿฿฿฿฿Wife is here! ฿฿฿฿฿฿

no vaping,

no wearing no t-shirt and too short shorts is indecent

no tanning ( too much human flesh to be seen)

no complains or discussions about anything

no shopping without a guard that guides you because they are afraid you steal???

no comments on immigration and/or officers they will stop you for entering the country or visa extension

I've never been in a country where employees are paid to play on their smartphone rather than work like they are in Thailand.

A significantly weaker Baht would help their exports, as well as help to persuade tourists that Vietnam's not necessarily better value (or many other countries), but can the government and BoT see that? Trump is openly pursuing a weak dollar strategy for the world's largest economy, and for decades the Bank of England has been very happy to oversee the gradual (and sometimes not-so-gradual) decline of Sterling, yet the Thais still seem to think there's something macho about having a strong currency.

Prayuth and Anutin were the primary architects of the Prayuth Decimation. 10 years of the junta rule brought Thailand's economy down to its knees. Covid didn't help either, and neither did an extreme lack of intelligence, talent, and creativity in the recent years, but the blame for this can be firmly placed on the tiny little shoulders of Prayuth and his ridiculous army minions.

And it's just another reason why Anutin or the Thai army should never be allowed anywhere near the reins of leadership in Thailand. They are clueless.

What happened to Thailand? They used to have ‘hubs’ for absolutely everything.

Article is spot on, also don't forget the education system 😑

Hoping for an outcome this Sunday 🙏

1 hour ago, UbonEagle said:

Article is spot on, also don't forget the education system 😑

Hoping for an outcome this Sunday 🙏

I agree- and the ban on foreigners owning land deters many like myself from investing long term in the country

On 2/3/2026 at 9:27 PM, Georgealbert said:

Thailand is being labelled the ‘sick man’ of Asia by analysts, as its economy stagnates amid political paralysis and demographic decline. The nation’s growth, struggling below 3%, lags far behind regional neighbours like Vietnam and the Philippines, which are surging ahead with over 5% expansion. This marks a stark reversal for a country once celebrated as a leading ‘Asian miracle’ economy.

The current weakness stems from long-term structural issues rather than a single crisis. Following the 1997 Asian financial crisis, Thailand rebuilt on exports, manufacturing, and tourism, but these engines are now faltering. Political instability, with repeated coups and fragile coalitions since 2006, has created policy paralysis, discouraging long-term investment.

Economists point to an ageing population as a critical threat, with the workforce set to shrink within a decade. Concurrently, high household debt and an education system failing to produce needed technical skills limit competitiveness. This has left Thailand vulnerable to the ‘middle-income trap’, unable to compete on low wages or high-tech innovation.

Investor confidence is weakening as global companies seek more dynamic markets with clearer policy direction. Domestic frustration is also growing, with households seeing little improvement in living standards and inequality widening between Bangkok and rural areas. The situation creates a cycle where instability undermines growth, and weak growth worsens social tensions.

The Financial Times analysts say recovery is possible but requires decisive reforms in education, immigration, and governance. Investment in green energy and advanced manufacturing is also cited as a priority to modernise the economic model. Without such steps, Thailand risks long-term decline in regional influence and prosperity.

Key Takeaways

· Thailand's economic growth has slowed to under 3%, significantly behind major Southeast Asian neighbours.

· Political instability and rapid population ageing are identified as key structural drags on development.

· The country's education system and high household debt are hindering a transition to a higher-value economy.

  

Adapted by ASEAN Now from FT 2026-02-04

 

 

View full record

Nobody will be surprised. Vietnam yes but Philippines no way. Manila a complete dump it is worse than Bangkok for getting around. Don’t even mention the food there it’s disgusting 🤮

4 minutes ago, Reddavy said:

Nobody will be surprised. Vietnam yes but Philippines no way. Manila a complete dump it is worse than Bangkok for getting around. Don’t even mention the food there it’s disgusting 🤮

I enjoy Philippines, Cambodia, Thailand and Vietnam equally.

There's not all that much difference between them as a tourist.

Thailand is probably most difficult to enter as a repeat tourist.

Vietnam is probably hardest to live in as an expat.

Pricing much the same, alcohol significantly more expensive in Thailand.

The story is correct though, Thailand does seem to be the sick man of Asia, for all/many of the reasons posters have mentioned. And yet it has an outsized baht (which I notice has softened by around 50 satang this week vs USD - please, may that continue). Thailand needs a strong government that is not beholden to the wealthy establishment (an establishment that has no interest in the country's economy as a whole). So if PP can get a majority and if (big IF) the usual suspects don't try to derail that through their dirty little methods, then maybe Thailand can move forward step by step.

On 2/4/2026 at 11:14 AM, VocalNeal said:

And there's me thinking that was Vietnam?

Has Thailand built any world record tourist attractions?

Geez, Thai's even go to Phu Quoc to experience it, and apparently, Vietnam is a poorer country than Thailand. 😂

12 minutes ago, ronnie50 said:

Thailand needs a strong government that is not beholden to the wealthy establishment (an establishment that has no interest in the country's economy as a whole).

Not only do they have no interest in Thailand's economy as a whole, they couldn't care less about Thailand's 70 million citizens.

Money Number One.

"struggling below 3%, lags far behind regional neighbours like Vietnam and the Philippines, which are surging ahead with over 5% expansion."

To be fair the comparison is misleading. Thailand is definitely further along in infrastructure, manufacturing, agriculture, technology and population than its neighbors with the exception of Malaysia. As such higher growth rate is more difficult to achieve than its "poorer" neighbors. The aforementioned nations are like a baseball runner on first base compared to Thailand on third base.

Case in point, U.S. economy in 2025 had a real GDP growth rate of approximately 2% to 2.2% for the year.

A better comparison might be today's Thai economy compared to its pre-junta 2014 coup economy.

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19 minutes ago, Srikcir said:

Thailand is definitely further along in infrastructure, manufacturing, agriculture, technology and population

Not much point being further along if you are slipping behind, rapidly.

That means, in the future, you will not be further along, your competitors will be more further along than you. So, how / why would Thailand be ahead, only to lose their significant advantage?

The chickens are coming home to roast for Thailand.

10 hours ago, Kat Hao said:

A strong commitment to AVOID change.
Thailand, IMO, does think of itself as the center of the universe, one of only 3 countries to never have been colonized. Many Thais continue to see this as an asset, the country has never assimilated into the full global world, let alone the SE Asian economy. Tourism is a poor long-term goal or solution, not much skill involved in cleaning rooms and preparing a continental breakfast, and the environmental pressure on beach resorts is truly terrible -- and unsustainable.
Critical thinking is still missing -- perhaps in hiding -- and there is little incentive for Thais to take on business or entrepreneurial risk. I have approached several factories over the years with good business opportunities and the answer has often been that they don't want to work that hard. At the same time, Bangkok lawyers and accountants are charging New York partner rates -- which is so absurd for so many reasons.

Opportunities are missed, long term growth is retarded, and political and social corruption are tolerated, if not encouraged by a systems that support the notion of paying villagers for their election votes.

There is a lot of opportunity in Thailand, but so many structural issues to overcome.

Agree with pretty much all of this.

In respect of the "professions" they can only hope to charge these high rates for international clients invested or considering investment in Thailand or with Thai Mega-Caps. For sure, that's where they make most of their business rather than the standard Thai listed or private companies who view legal/regulatory compliance as a nuisance and will happily pay bottom dollar to meet the basic requirements.

11 hours ago, Nurf said:

Many of us are old, we have families and are settled. Yet, I would offer to any younger person (40-50) to get in on Vietnam. Learn the language and how to navigate that system.

Vietnam - Between communism and capitalism | DW Documentary

Fast forward to the 29:06 mark. the difference between VN and Thailand is very evident.

On 2/5/2026 at 12:23 PM, Srikcir said:

"struggling below 3%, lags far behind regional neighbours like Vietnam and the Philippines, which are surging ahead with over 5% expansion."

To be fair the comparison is misleading. Thailand is definitely further along in infrastructure, manufacturing, agriculture, technology and population than its neighbors with the exception of Malaysia. As such higher growth rate is more difficult to achieve than its "poorer" neighbors. The aforementioned nations are like a baseball runner on first base compared to Thailand on third base.

Case in point, U.S. economy in 2025 had a real GDP growth rate of approximately 2% to 2.2% for the year.

A better comparison might be today's Thai economy compared to its pre-junta 2014 coup economy.

3rd base but running backwards 🤷🏼

On 2/5/2026 at 5:12 PM, Legal Lifeline said:

I agree- and the ban on foreigners owning land deters many like myself from investing long term in the country

Screw off, allowing foreigners to buy land would completely destroy thailand and make it totally unaffordable for normal thai people.

14 minutes ago, captain_shane said:

Screw off, allowing foreigners to buy land would completely destroy thailand and make it totally unaffordable for normal thai people.

Which is why all countries around the world should rescind all land ownership held by Thais.

On 2/5/2026 at 1:57 PM, Guderian said:

A significantly weaker Baht would help their exports, as well as help to persuade tourists that Vietnam's not necessarily better value (or many other countries), but can the government and BoT see that? Trump is openly pursuing a weak dollar strategy for the world's largest economy, and for decades the Bank of England has been very happy to oversee the gradual (and sometimes not-so-gradual) decline of Sterling, yet the Thais still seem to think there's something macho about having a strong currency.

Many people here long for a weaker Baht. I'm in too minds about this.

A weaker Baht would increase my purchasing power. On the other hand it would draw more crowds of undiscriminating tourists from certain parts of the World. I need less such crowds more than I need a better exchange rate.