How Thailand Went From Asian Leader to Laggard (youtube.com)
Not a lot of innovation. GDP 2% since 2021. Neighbors more like 5%. Capital flight (net flight since 2022 or 2023). Highest income inequality (a few hundred people hold most of the power, Bangkok thrived while other regions did agriculture), and when money and power sit with the same small group of people, they resist changes that could shake up their monopolies and redistribute wealth. Thai household debt is high.
Tourism accounts for 1/5 of economy. Also manufacturing, food. Connects supply chain between China and SE Asia. Thailand produces less engineers, data scientists, skilled workers than other SEA countries, and has lower English proficiency. Thailand produces tech products like chips, but is using old tech to do so, and doesn't have any new products. Workforce percentage is shrinking since 2019.
Low certainty in government because there are coups etc. Constitution changes frequently.