Could Thailand Reshape Asia Despite Its Chronic Instability?

Thailand’s economy is a fascinating paradox—a country known for its political coups and instability, yet it continues to thrive and grow against all odds. In this video, we uncover how Thailand has become one of Southeast Asia’s most resilient and dynamic economies. Thailand's journey is anything but ordinary from its strategic location on the world’s busiest trade routes to its unexpected rise as a hub for digital nomads.
Thailand has mastered the art of economic survival—and it’s not slowing down anytime soon. Find out where Thailand ranks on the Economics Explained Leaderboard and why its story is one you won’t want to miss!

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[misubi]

I moved to Thailand earlier this year from the States. It's amazingly cheap, the infrastructure is good, low crime, people very hospitable. The one downside is the political leadership which is chaotic and self-sabotaging. Just last week the prime minister was dismissed by the supreme court here, and then in his place the daughter of an ex-convict-prime-minister billionaire was appointed in his place though she had zero experience in any elected capacity. The week before that the popular political party elected by the people was dissolved and its leaderes banned from political office for 10 years as it wanted to reform the monarchy which threatened the oligarchs.

[gregoryferraro]

The more I try to understand economics, the more I come to realize that TRUST is the biggest factor.

[Sttyn]

Foreigners often find it surprising how a country with a GDP per capita at this level appears far more advanced than one might expect based on that figure alone. It's important to note that a significant portion of the economy operates in the informal or "gray" sector, which isn't fully captured in taxable income. As a result, many people enjoy a higher standard of living, and the actual income per capita is considerably higher than the official numbers suggest.

[nonosornakira]

Finally my country is in the economics explained. Thank you for making this video ขอบคุณมากครับ

[qwerty-vpsb]

Thailand is a perfect example of middle income trap

[mimameta]

I moved to Thailand almost a year ago now, best decision ever! Beautiful country, and kind and polite people 🙏

[Ushio]

A big issue you didn't mention for Thailand is demographics.

The Thailand population is about to start declining and aging rapidly or already in that situation depending on the source.

That's a terrible situation to be in when your still a developing economy.

[theparamountparamount]

I'd say Thailand is the envy of Southeast Asia (not Singapore). They have strong manufacturing, agricultural, and huge tourism industries. With a population of 70 million, its neither overpopulated nor underpopulated (just suitable for its landmass and economy). Most of the stuff we buy in grocery stores is manufactured in Thailand. Our staples like Rice is from Thailand too. If it's not just the political instability, Thailand's economy should be larger and bigger than it is now.

[Raxer_th]

As a Thai. I think no. Many people say Thailand's food, items etc are cheap. Yes they are, compared to USD. However, when you consider that the minimum wage here is around 330 THB (around $10-$11) per day and food is around 2$ each. Not even including the transport, water and other items. (I commented before I watched the video though)

[beyondeconomics]

Crazy how an agreement increasing the value of Japanese currency can impact Thailand economically because Thailand’s currency is pegged to the US’s.

Economics really is a wonderful thing

[Ramacat]

One of Thailand's major problems, which is not addressed here, is the disparity of economic opportunity and resources as between the capital region, Bangkok, and the rest of the country. I recall one economist at a conference saying that Thailand could be best understood as being two economies, one being a modern city, like Hong Kong in the 1960s, and the other being rural Bangladesh. While this was some years ago, the analogy still holds true, and a dual economy approach provides a better measure of Thailand's performance, rather than applying an average to the whole country which fails to capture the dramatically increasing income and wealth disparity due to fewer resources going to the rural areas.

[prfwrx]

Thailand's economy is quite underwhelming. Per capita, it's comparable to pre-war Ukraine. But outside the Bangkok Metropolitan Area and other major tourist towns, it might as well be a backwater.

Thailand's major cash cows are hard drives and automobiles. Solid state storage supplanting HDDs in consumer computers, and rise of EVs in the Asian market (primary importers of Thai automobiles) has kneecapped growth, and new investments are chilly. After all, this is a country with a military coup every 4.5 years on average, and whose constitution lasts about as long as half of a dog's lifespan.

Thailand has the economy of pre-war Ukraine, with none of the domestic institutional knowledge to set up native heavy dual-use industries. Everything was licensed either from the Japanese auto industry, or from Western hard drive manufacturers like WD and Seagate. Now all of that is being undercut by Chinese dumping of electronics and EVs.

Consequently, Thailand is a developing economy that grows about as much as the UK does.

[Kevo]

One downside of living in Thailand is that the air quality (by level of pm2.5) in the north, north eastern and central part of the country is pretty bad 4 - 5 months out of a year due to unregulated agricultural sector (crop burning). The government clearly cares more about the businesses of agricultural oligarchs than the public health of tax payers.

[Hamilton_Gilpin]

My water bill in thailand is $4 per month lol
Rent is $1600 for a 3 bed villa
Electric is $150 per month
Food is really cheap
Internet is some of the best in the world
I'm never leaving

[iPaulLee]

Leaving USA and moving to Thailand in my 20s was the best decision I’ve made. Amazing culture, kind people, good expat community, and cost of living.

[protolanhan]

13:45
I think you forgot South Korea, Taiwan, India, Saudia Arabia, Turkey, etc.

[dqdq]

13:45, Thailand is definitely not the 4th largest economy in Asia

[jonaspete]

Thailand adopted modernization at the same and even earlier than Japan but it still lacks institutional knowledge in producing its own heavy industries.

[snailedlt]

As of 2023, Thailand was the 10th largest economy in Asia

[Elongated_Muskrat]

Being scored equal to Bangladesh and Philippines seems like the scoring system needs to be altered significantly.