While many people were surprised by the Military coup in 2006, the effect on the running of the country has been minimal so far.  The new regime have promised to look at democratic elections in the short term, although as yet no date has been set.  While obviously force was used to eject the old ruling regime, it seems that there has been no backlash towards the population although there has been come censorship of the media.  

For those not aware, Thailand has one of the biggest cities in the world in the shape of Bangkok which has an population approaching 7 million people (although unofficially many suggest the figure could be as high as 14 million).  The city is the centre piece of the country and listed as the 22nd most popular city in the world - a great attraction for tourists and expats who visit the country.

Even though Bangkok seems to take all of the headlines, the country is actually made up of some 76 provinces, offering differing insights into Thai life and culture.  Surrounded by Burma on the North West, Laos on the North East and Cambodia to the South, Thailand is a fairly sizeable country.

While the country offers a mix of ethnic groups and cultures, apart from the Thai population, there is a large contingent of Chinese immigrants, and other smaller groups from around the area.  Religion is as diverse as the cultures although Buddhism plays a major part in the makeup of the country, with Christianity a smaller but significant religion.  English is widely taught in schools, although generally speaking the standard of education is well below that of Europe and other developed nations.

While there is obvious concern about the coup situation, the hope of democratic elections (as and when they happen) should clarify the short to medium direction of the country.  Until further details are made available, many expats are holding off any decision about moving to Thailand . 

 Contents: Economy in Thailand | Prospects in Thailand | Thailand Facts

Economy in Thailand

Thailand has been one of  the success stories of the Far East with economic growth between 1985 and 1995 amongst the highest in the world, averaging 9% per annum.  The economy did go into a nose dive in 1998 when the currency came under immense pressure and had to be “revalued”.  Expansion has since resumed with growth of 5% in 2006 and a forecasts for 4.3% in 2007.  It seems that the population of Thailand and there foreign trade partners are not overly concerned about the coup of 2006.

Thailand is predominately an export led economy with particular skills in the fields of rice, textiles, footwear, fishery products,  rubber, jewellery and an array of electronic equipment.  Exports have show a marked increase in recent years, and it seems as though this is set to continue, along with the expansion of the economy.  The unemployment figure has obviously benefited from this period of substantial economic growth, and while the unemployment rate was only 2.9% in 2003, it fell to a low of 1.5% in 2005 - it has since increased slightly to 1.8% but is well under the average in the vast majority of developed countries.

Thailand is typical of many of the smaller, yet successful, Far Eastern economies because successive governments have ensured that the country adapts to changes in the international market place, and introduced various new areas of business to the country.  Low unemployment also allows the promotion of the country overseas, with foreign nationals offered a great chance to be part of a developing country.

Prospects in Thailand

While there is still some concern on the ground with regards to the coup last year, and the lack of detail about democratic elections, this has not really impacted upon international trade as yet.  There may be some negative consequences if the authorities were to take a more hardline approach to governing, or restrict trade or entry to the country.  This has not happened as yet.

Overall Thailand is a growing country with an expanding economy, and as close to full employment as you could ever wish.  Bangkok is most definitely the jewel in the crown and attracts many millions of visitors a year in its own right, which then offers the authorities the opportunity to promote the country overall.

Property prices are pushing ahead, although they may stabilise in the short term ahead of further details about the plans of the authorities.  An interesting opportunity for expats looking to move abroad, although many may prefer to wait on the sidelines for the moment.

Key Facts on Thailand:

Bordered by Laos, Burma and Cambodia.

Food:. A blend of hot and spicy dishes, with strong sauces.

Temperature: 8% to 40% with high humidity

Industries: Rice, textiles, footwear, fishery products,  rubber, jewellery and an array of electronic equipment.  Export driven economy.

Education: 9 years compulsory education

Health: Life expectancy 70 years