Thailand
Thailand is situated in the heart of Southeast Asia, bordered by Laos and Cambodia in the east, the Gulf of Thailand and Malaysia in the south, and Myanmar in the west.
Thailand is situated in the heart of Southeast Asia, bordered by Laos and Cambodia in the east, the Gulf of Thailand and Malaysia in the south, and Myanmar in the west.
Overview
Official Name
Kingdom of Thailand
Capital
Bangkok
National Day
5 December
Population, Territory and Currency
Population & total area
69,648,117 (2022 est.)
513,120 square km
Source: CIA World Factbook
Currency
Thai Baht (THB)
Average price per meal: SGD 3
Demographics
Male-Female: 48.7%-51.3%
Urban population: 52.9%
Youth aged 15-24 years: 13.02%
Source: CIA World Factbook (2022)
The Flag
The Thailand flag is made up of 5 horizontal stripes of the colours red, white and blue. The outer bands of red symbolize the nation while the inner bands of white represent religion. The blue band, occupying a third of the flag, symbolizes the monarchy. These reflect the complementary nature of the 3 pillars of Thailand’s society – nation, religion and king.
Key Historical Events
1932
Absolute monarchy gives way to constitutional monarchy with parliamentary government.
1947
First post-World War II military coup. The military retains power continuously until 1973.
2001
Populist Thaksin Shinawatra becomes prime minister.
2006
Military leaders stage a bloodless coup.
2011
Pro-Thaksin Pheu Thai party wins a landslide victory in elections. Thaksin's sister, Yingluck becomes Prime Minister.
2014
Army again seizes power. Army General Prayut Chan-ocha becomes Prime Minister.
2016
King Bhumibol Adulyadej dies after 70 years on the throne and is succeeded by his son, Maha Vajiralongkorn.
2019
Elections in March allows the military to remain in power.
Economic Profile
Thailand’s relatively open and free economy is highly dependent on international trade, with exports such as electronics, agricultural commodities, automobiles and parts, as well as processed foods accounting for about two-thirds of GDP. Thailand experienced a 1.6% GDP growth rate in 2021, with its economy gradually rebounding from negative growth rates in 2020 as a result of the pandemic. As the second largest economy and its central location in Southeast Asia, Thailand’s economy has been resilient and growing despite multiple political situations.
SG X TH
Singapore and Thailand share a bilateral network known as the Singapore-Thailand Enhanced Economic Relationship. This is a platform for government agencies and private sectors to promote closer economic cooperation and deepen the level of contact and consultative process between the two countries
Key Industries
Advanced Manufacturing and Industry 4.0
Accounting for 36% of Thailand’s total GDP and 15% of the workforce, manufacturing remains a key economic pillar. The government’s push for Industry 4.0 creates opportunities for businesses that can provide innovative solutions for manufacturing processes. Key sectors include automotive, with around half of the world’s auto parts manufacturers having operations in Thailand, and electronics.
Agricultural commodities
Thailand is a leading exporter of rubber, rice, fishery products, livestock and sugar, with the agriculture industry contributing about 10% of total GDP.
Tourism
Tourism contributes to around one-sixth of Thailand’s total GDP. Following the easing of COVID-19 travel restrictions, steady growth is set for the future.
Up-and-Coming
Infrastructure and Connectivity: Thailand is witnessing an infrastructure boom. Transport infrastructure development, in particular, is a key priority of the Thai government which wants to boost its regional connectivity and strengthen its position as a manufacturing hub. In 2017, Thailand announced a five-year public-private partnership (PPP) strategic plan worth THB 1.62 trillion (~SGD 66.2 billion), with about 95% allocated for transport infrastructure investment.
Places of Interest
Grand Palace
Crown of the Palace
A complex of buildings located at the heart of Bangkok. A popular tourist attraction in Thailand, the Palace is still used for official events and several royal ceremonies.
Chatuchak
Weekend Market
The largest market in Thailand, it has more than 15,000 stalls divided into 27 sections. It is the world’s largest and most diverse market with 200,000 visitors every weekend.
Local Food
Pad Thai
One of Thailand’s national dish consisting of stir-fried noodle with shrimp/chicken, peanuts, egg, bean sprouts.
Tom Yum
A hot and sour Thai soup usually cooked with shrimp. The soup is also made with lemongrass, kaffir lime leaves and galangal.
Mango Sticky Rice
A traditional Thai dessert made with glutinous rice, fresh mango and coconut milk. Usually eaten in peak mango seasons.
Major Festivals
Songkran
A celebration of goodwill, love, compassion and thankfulness, Songkran is Thailand’s New Year. It falls on 13 April with the nationwide holiday extending from 12 to 16 April. The festival is marked by the pouring or spraying of water which is believed to be spiritually purifying – it cleanses bad luck or grievances and blesses you with fortune and happiness.
Loy Krathong
Also known as the Festival of Lights, it is an annual festival usually celebrated in November to pay respect to the Goddess of Water and Buddha. Krathongs, which are lotus-shaped rafts decorated with banana leaves, flowers and candles, are released into rivers as an offering and a symbolic gesture to dispel bad luck.