Kelvin Ong
Written in Thailand 2011, adapted from devac.org
Thailand has a rich history spanning nearly 800 years now, and throughout this time, it has never been colonised by a Western nation, which is unique among Southeast Asian countries. Thailand has the second largest economy of Southeast Asia, after Indonesia, and it has historically enjoyedhigh rates of growth, at least before and after the currency crisis of 1997. Its industrial sectors contributes 43.9% of GDP, coming in second-most important after its services sector, which accounts for 44.7% of GDP.
The past decade has been full of challenges for Thailand. The tsunami of 2004 has destroyed parts of it, taking many lives and property, and throughout 2008-09, the political unrest due to bickering political factions in its capital Bangkok has adversely affected the tourism industry (which makes up 6% of its GDP). Later in the decade, the avian flu crisis that affected Southeast Asia did not spare Thailand. However, it’s economy is still sustaining its growth at a good rate.
Continue reading “A Quick Overview of Thailand”