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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
The Thai government has identified infrastructure development as an essential driver of economic growth. The construction of a sizable public transportation infrastructure has reduced persistent congestion in the Bangkok Metropolitan Region. This ...
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Thailand's finance and insurance sector contributed a record 9.17% to the country's gross domestic product (GDP) in 2023. Moreover, the sector's gross value added (GVA) increased by 3.1% in 2023, a turnaround from the 2.3% decline reported in 2022, ...
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Thailand is one of the world's top tourist destinations, and the tourism sector is crucial for the country's economic and social development. Tourism accounts for approximately 20% of Thailand's GDP and 21% of the total workforce. Tourism contributes ...
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The oil and gas sector fuels the economies of a number of countries in the ASEAN region, with the main players being Indonesia and Malaysia. Thailand and Vietnam are emerging as critical players, with growing exploration efforts and considerable ...
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Thailand's pharmaceutical and healthcare industries have grown significantly in recent decades. In 2002, the Thai government began providing universal healthcare to all Thai citizens, a successful initiative covering more than 99.9% of the Thai ...
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With over 660mn people, and a combined economy that represents the fifth largest in the world, the 10 countries forming the Association of Southeast Asian Nations (ASEAN) region have been relying on fossil fuels to power their fast growth. The ASEAN ...
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As the country has developed over the past decade, the real estate and construction industries have continued to expand. The Bangkok Metropolitan Region (BMR) and the Eastern Economic Corridor (EEC) are the principal hubs for real estate activities. ...
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Thailand's consumer goods and retail sectors have matured significantly in recent decades, paralleling the country's rapid economic growth. Compared to their ASEAN counterparts, Thailand's growing middle and affluent classes are highly ...
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