NationThailand-Nov 11
Corruption has emerged as the leading obstacle to Thailand’s economic development in a survey of 80 business executives and policymakers, with 65% expecting the economy to grow by no more than 2% or contract in 2027. The Go Thailand 2027 survey, conducted by Thansettakij between October 21 and November 7, 2026, also revealed limited confidence in the government’s economic targets. Respondents gave its economic performance over the previous 12 months an average score of just 4.1 out of 10. Nearly seven in 10 participants were chief executives, business owners or senior executives. The findings highlight concerns over Thailand’s prolonged middle-income trap, with weak domestic demand, outdated regulations and labor shortages continuing to constrain growth. The largest group of respondents, 42.5%, expected Thailand’s gross domestic product (GDP) to expand by 1.1–2.0% in 2027. Another 12.5% anticipated growth of 0–1.0%, while 10% predicted an economic contraction. Meanwhile, 33.8% expected growth of 2.1–3.0%, and only one respondent believed the economy would expand by more than 3%. Household debt and weak domestic purchasing power were the most frequently identified risks, selected by 83.8% of respondents. Political uncertainty and policy continuity followed at 45%, ahead of energy and electricity costs at 38.8%, geopolitical conflicts at 33.8% and cheap imports from China at 27.5%. Confidence in Thailand’s economic prospects over the next three years averaged 4.6 out of 10. Some 41.3% gave scores below five, while only 20% awarded seven or higher. The survey also revealed doubts about the long-term economic strategy of Prime Minister Anutin Charnvirakul’s government. Its objectives include achieving high-income country status within 12 years, placing Thailand among the world’s 20 most competitive economies by 2030 and sustaining annual economic growth above 3%. However, 53.8% of respondents considered the high-income target unlikely or impossible, compared with 18.8% who believed it was achievable. The competitiveness target attracted greater skepticism, with 61.3% doubting its feasibility and only 13.8% expressing confidence. Meanwhile, 48.8% considered sustained growth above 3% unlikely or impossible, against 21.3% who believed it could be achieved. Overall, 55% rated the government’s economic performance below five out of 10, while 16.3% gave scores of seven or higher. Respondents from government agencies and state enterprises recorded the lowest average assessment of government performance, at 3.9, and the weakest economic confidence, at 4.2. Business owners and entrepreneurs gave corresponding scores of 4.0 and 5.0. Read more at:
