BANGKOK: Thailand is increasingly being described as the “sick man of Asia”, driven by a sharp slowdown in consumption, manufacturing and tourism—trends that are hitting household livelihoods and raising concerns about the country’s stability. Thailand is grappling with low economic growth and an economic structure that is no longer keeping pace with today’s development needs. Over the past five years after the Covid-19 crisis, Thailand’s economy has expanded by no more than 2.6%, recorded in 2022. After the 1997 Asian financial crisis, Thailand recovered on the back of exports, and in 2011 the World Bank classified Thailand as an upper-middle-income country. During the election campaign, several parties set out growth targets to be achieved during the new government’s term in 2026–2029.

Source: The Star February 09, 2026 07:52 UTC