Thailand aims to become high income country in the next ten years

[DoctorG]

High income? Well, for a select few anyway.

[Ulic]

If you dream it you can achieve it, even if it is only in your dreams.

[inwardglee]

Only quality tourists will travel here, with average spending of 400 USD/day. The beaches will beat the Maldives, the cleanliness will beat Singapore, and the general level of English will be similar to GB. The competitive edge above other countries will be the perfected work and high work ethics generally, paired with high skills in engineering.

[Muirton]

Thailand is a high-income country already. For 00.01% of Thais.

[PilotEd]

As long as the majority of Thais (those outside of the Bangkok elite) are forced to remain uneducated and unskilled this

cannot and will not happen.

But as an earlier poster remarked correctly, the rich will continue to get richer.

[Eric Loh]

Not if the junta intend to hang around next ten years. Elected government; maybe.

[Bung]

Quite a few Thais have become high income already.

Off the backs of the poor and through corruption.

[rodknock]

it is all ready a high income country. just ask any one who gets paid from corruption and graft. those people do not complain they just want the brown bags and money to continue. life is high income for them.

the dog and pony show

[rijit]

So this will mean it'll sort out the piss poor north east out,,, thought not ., it'll just mean those in bangkok will earn more and tbe average will go up.

rijit

[Hawk]

On the positive side, if the economy screws up then the exchange rate for foreign currency gets better in our favour.

[CiaranO]

Ah yes stick a uniform on them and they know everything. The only people who will be in the high income in ten years will be the Military generals.

[soalbundy]

Quite a few Thais have become high income already.

Off the backs of the poor and through corruption.

A few being the operative word

[soalbundy]

They have a plan?

Really?

No Baldrick, not that plan, we need a cunning one

[rijit]

Ah yes stick a uniform on them and they know everything. The only people who will be in the high income in ten years will be the Military generals.

Just out of interest anyone know if they've raised their own wages?

rijit

[lildragon]

Ah yes stick a uniform on them and they know everything. The only people who will be in the high income in ten years will be the Military generals.

You took the words right out of my mouth.

How do they expect to do this with either an enriching civilian government or junta in charge?

[Eric Loh]

Ah yes stick a uniform on them and they know everything. The only people who will be in the high income in ten years will be the Military generals.

Just out of interest anyone know if they've raised their own wages?

rijit

Raise wages !! Too slow and small beans. Raise the rate of commission. No questioning or concern allowed to be raised.

[Laughing Gravy]

Is it me or is it lets tell the people B**** S**t stories this week. Please, please stop it now. My sides can't take anymore.

I can't wait for those TV posters who will try and defend it. Bring it on!

[Pi Suthep]

well, are prices for prostitutes an indicator ? then, growth rate is highest worldwide...

[gudtymchuk]

My neighbor is one of those "high income" Thais and his daughter delights in letting everyone know it. She has had the same red plates on her "new" Toyota Camry for two years now just in case someone missed it. Even the wife understands the shallowness of such a flaunt.

[ChrisY1]

It already is a high income region..(for some) ...where else are there politicians, military generals and police chiefs with so much obvious wealth........?

[ratcatcher]

we've already had April 1st this year

What really scared me was a man in a military uniform making this prediction. Kind of exposes Thailand's Achilles heel.

I wouldn't get too scared mate.

He's a just the secretary - General of the NESDB wearing the standard khaki kit so beloved of anyone in a civil service job in Thailand, from school teachers to museum guards complete with the usual accoutrements relative to his rank, i.e. wings, stars, stripes and badges.

I doubt he knows the difference between a B52 and an M79

[CapeThai]

And just how is that going to happen, maybe by robbing and Arrassing more tourist for tea money ? Problem is in 10 years time there will be no more tourist left to rob and a very bleak future for their children due to their fathers GREED !!

Thainess.

[tomacht8]

Thailand aims to catapult itself out of the upper middle income country trap in the next ten years after the end of the 13th five-year national economic and social development plan, said Transport Minister and NESDB secretary-general Arkhom Termpittayapaisit on Tuesday.

in the next ten years, that would be 2025,
after the end of the 13th five - year national plan ..., that would be (13x5 = 65 years) 2090!

He is right.

[dean008]

or just stop press releases, job done,

This government and I mean every department needs a press release vetting agency to stop them sounding and looking incompetent...

[Thai at Heart]

Where are all the jobs going to come from to achieve this? The level of investment needed for this is enormous and will need more than half the agricultural jobs to move to industrial or services.

[phitsanulokjohn]

General Arkhom Termpittayapaisit's alarm clock will sound shortly.

[micmichd]

Everything is relative. With all these declining Western economies going South, Thailand might become comparatively rich.

Inequality will be an issue, but even here Thailand is not that bad. There's more inequality in the USA than in Thailand (Gini index 39.1 TH, 44.1 USA)

[soomak]

Seen a lot of negative comments in this thread, but let's try to make a real evaluation of this statement:

1. "High Income Country" is a term that refers to a country with a nominal GNI (Gross National Income) per capita of US$ 12,735 or above.

This threshhold changes every year, according to the inflattion in a few major economies.

2. You can see the list of countries by GNI per capita here:

https://en.wikipedia.org/wiki/List_of_countries_by_GNI_%28nominal,_Atlas_method%29_per_capita

3. Thailand currently has a GNI per capita of US$ 5,410, which puts it in the "Upper-middle-income" group

4. In order to reach the threshhold of US$ 12,735, the Thai GNI per capita in US$ needs to grow by 135% (((12,735 / 5,410) - 1) x 100)

5. How long would it take?

If the GNI per capita grows by 3% per year (quite fast, but achievable), it would take Thailand 29 years to reach the "High Income Country" threshhold.

If the GNI per capita grows by 5% per year (very unlikely), it would take Thailand 18 years to reach the "High Income Country" threshhold.

Personally, I think a 3% per year growth rate is much more realistic than 5%. It may be even lower, at 2-2.5%.

If I had to make a bet on this, I would put it at 35-40 years (so around the year 2050/55).

Edited September 15, 2015 by soomak

[chilli42]

It's delusional but everyone needs to believe there is a light at the end of the tunnel even if that light is attached to the front of a train

[WhizBang]

Oh my God.

... And the streets will be paved with gold too.