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Banking and insurance
The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity cꦦontracts dealing and diverse financial investment activities. The sector also includes insu🐬rers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Thailand's Agriculture, Hunting, Forestry and Fishing sector accounted for 8% of the GDP, growing 1.6% y/y, in 2019. The sector accounted for 33.7ꦕ% of Thailand’s total employment in 2019. Agricultural land claimed some 47% of the ...
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In October 201🃏8, the government launched Thailand 4.0 to transform the country into a digital economy. This has proven to be beneficial for the ICT sector as it remains one of the fundamental drivers of digitalisation. ...
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Thailand is the third-largest power producer and consumer in ASEAN. The electric power sector takes 2.6% of t🧸he Thai economy, and contribute💙s to about 0.3% of the overall employment. At the same time, the power sector is an important ...
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The SEA region has had an admirable record in improving its record against infectious diseases over t𓆏he nearly three decꦓades from 1990 to 2019. The region’s rapid economic growth relative to the rest of the world has contributed to ...
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Although Thꩵailand’s pharmaceuticals and healthcare sector has developed considerably over the past few decades, there is still considerable runway for ꦇfurther growth. Thailand stands out amongst emerging market countries for offering universal ...
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Thailand is the largest producer of four-wheel vehicles in the ASEAN region and the 11th largest vehicle producer&nb꧙sp;in the world. Additionally, the Thai four-wheel vehicle market is the second-largest in ASEAN and 🌊the 17th-largest market in ...
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Thailand’s population has generally enjoyed the fruits of increased wealth over the past few decades. The incidence of poverty has considerably diminished from more than 60% in 1988 to less than 🌳10% by 2018. ꦜAccording to the Boston ...
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The importance of develop𒆙ing the transportation sector in Thailand has gained significance as the country is being promoted as a regional trading hub and an attractive destination for tourism. Reducing logistical challenges is on the ...
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Southeast Asia holds an estimate🐻d 45.7 Bbbl of crude oil reserves as of end-2019, according to data published in the 2020 edition of BP Statistical Review of World Energy. This translates into a global share of 2.6% ...
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Tourism is an important source of revenues for Thailand’s economy, accounting for 19.7% of GDP and about 16% of total employment in 2019, according to the World Travel and Tourism Council (WTTC). The number of foreign tour💖ists ...
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