Private investments in Thailand next year are expected to increase drastically according to The Finance Ministry. The ministry is extremely optimistic about the future of Thailand’s economy and estimates private investments of around 400 billion baht in 2017.
A private investment of this magnitude means that the Thai economy will reach the projected 4-5% growth next year. Somchai Sujjapongse, the Secretary of Finance for the Ministry stated that the public investment spree will encourage the private sector.
Growth in Thailand would not be possible without the private investments that they take in each year. Thailand’s private investors at one point in time exceeded those of the public, although there has been a slight decline in recent years. The Ministry of Finance and many large corporations recently investing in Thailand believe that 2017 will bring a change to the decline.
The Bank of Thailand predicts that growth for 2016 and 2017 will see the same growth at a rate of 3.2%. The Fiscal Policy Office of the Ministry of Finance reports an estimated growth of 3.3% for 2016 and 3.4% for 2017.
Private investments in Thailand are everywhere, many offering guaranteed returns as they take a chance on the future of the economy in high tourist areas such as Bangkok, Phuket and Pattaya.
The Pattaya city skyline is littered with cranes at the moment working on new condo projects and hotels in anticipation for the surge that will be 2017. Visitors, tourists and expats are buying up condos far in advance of projects being completed as they prepare for Thailand’s high season tourist stampede.
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