Aaron O'Neill
Research lead for society, economy, and politics: Europe & global
Get in touch with us nowInflation rate in Thailand 2029
In 2019, the average inflation rate in Thailand amounted to about 0.71 percent compared to the previous year, when it was just recovering from a slump below the 0-percent-mark in 2015.
Political turmoil begets economic turmoil
In 2014, after a coup d’etat following months of political crisis, the Thai military took over the country, and the senate and government were dissolved. As a result, Thailand’s economy experienced a sudden downturn, GDP growth and inflation slumped, while unemployment, which is usually delayed in reflecting economic struggles, has been increasing ever since.
Services help stabilization
Apart from the struggles in recent years, Thailand’s economy as a whole is quite stable. Its main GDP generator is the services sector , which includes tourism and telecommunications, and which has shown a stable real GDP growth for the past few years. The new military government also wants to boost the economy further by focusing on high-tech industries and services, with the goal of making Thailand a high-income nation with an economic focus on innovation and growth.
Political turmoil begets economic turmoil
In 2014, after a coup d’etat following months of political crisis, the Thai military took over the country, and the senate and government were dissolved. As a result, Thailand’s economy experienced a sudden downturn, GDP growth and inflation slumped, while unemployment, which is usually delayed in reflecting economic struggles, has been increasing ever since.
Services help stabilization
Apart from the struggles in recent years, Thailand’s economy as a whole is quite stable. Its main GDP generator is the services sector , which includes tourism and telecommunications, and which has shown a stable real GDP growth for the past few years. The new military government also wants to boost the economy further by focusing on high-tech industries and services, with the goal of making Thailand a high-income nation with an economic focus on innovation and growth.
