In 2023, the year-on-year growth of construction investment in Thailand grew by 0.4 percent compared to the previous year. It was estimated that the number could increase more than four percent in 2026.
Thailand’s budget outlook
As of July 2023, the establishment of the new government and the changes in key positions are still pending following the 2023 election results. This could affect the consideration of the annual budget for the year 2024 and may cause the disbursement of government investment expenditures to be postponed or unable to be implemented within this year. As of 2023, the growth rate of public sector construction investment contracted by 2.2 percent.
Public construction project
Thailand’s total budget for the Eastern Economic Corridor development and public utilities from 2023 to 2027 accounted for around 337.8 billion Thai baht. The construction investment expenditure for rail and public transportation totaled around 45 percent of the budget, followed by road and transport projects. This government expected its initial investment to attract additional private sector investment, including for the construction of residential housing along new mass transit lines and roads, as well as factories and industrial estates in nearby areas.
Year-on-year growth rate of the construction investments in Thailand from 2020 to 2023 with a forecast for 2026
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Krungsri Research. (March 12, 2024). Year-on-year growth rate of the construction investments in Thailand from 2020 to 2023 with a forecast for 2026 [Graph]. In Statista. Retrieved November 03, 2024, from https://www.statista.com/statistics/1401995/thailand-growth-of-construction-investment/
Krungsri Research. "Year-on-year growth rate of the construction investments in Thailand from 2020 to 2023 with a forecast for 2026." Chart. March 12, 2024. Statista. Accessed November 03, 2024. https://www.statista.com/statistics/1401995/thailand-growth-of-construction-investment/
Krungsri Research. (2024). Year-on-year growth rate of the construction investments in Thailand from 2020 to 2023 with a forecast for 2026. Statista. Statista Inc.. Accessed: November 03, 2024. https://www.statista.com/statistics/1401995/thailand-growth-of-construction-investment/
Krungsri Research. "Year-on-year Growth Rate of The Construction Investments in Thailand from 2020 to 2023 with a Forecast for 2026." Statista, Statista Inc., 12 Mar 2024, https://www.statista.com/statistics/1401995/thailand-growth-of-construction-investment/
Krungsri Research, Year-on-year growth rate of the construction investments in Thailand from 2020 to 2023 with a forecast for 2026 Statista, https://www.statista.com/statistics/1401995/thailand-growth-of-construction-investment/ (last visited November 03, 2024)
Year-on-year growth rate of the construction investments in Thailand from 2020 to 2023 with a forecast for 2026 [Graph], Krungsri Research, March 12, 2024. [Online]. Available: https://www.statista.com/statistics/1401995/thailand-growth-of-construction-investment/