Economy

The strong growth potential of emerging economies, such as those within the Association of Southeast Asian Nations (ASEAN), continues to attract attention from global businesses.

Welcome to Ipsos Flair, Thailand. Our 2017 rendition, “Beyond the concerns”, offers a unique perspective on the mood of the country. 2017 represents a crucial year for the Thai economy which has latterly suffered from weak growth.

Global lubricant markets have seen a dramatic rebound since the global economic recession of 2008–2009. At that time, global demand dipped to its lowest point since the latter half of the 20th century, but has since surpassed its previous high mark set in 2007. One of the key drivers of this rebound can be attributed to Asia, where the developing economies of emerging markets are fueling the rising demand for lubricants.

The confluence of economic growth, rising middle class, and upcoming ASEAN Economic Community have drawn many international players to the potential of frontier markets.

Thailand’s uniqueness is linked to its ability to adapt, to integrate without internalising, and never taking up a frontal position.

Recently, Thailand has indicated interest in capturing the opportunities for growing the luxury retail sector via the volume of tourist shoppers and growing local middle class. In a global survey by MasterCard, it was found that Bangkok visitor spending contributed to annual USD 14.4 billion dollars, ranking 4th globally in visitor spending.