Thailand’s labor force in recession

thailand labor recession

How Favorable Are the Conditions In ASEAN Region

Thailand being in the center of ASEAN attracts people and investors all over the globe. The rich culture, food, beautiful natural spots as well as man made such temples keep bringing the attention of outsiders and curious people that like to travel and explore the world and everything that comes with it. It's so diverse and with so many different options of what to do and experience that brings the attention of investors as well. This growing economic paradise is available and wanting to be known. ASEAN Jobs market is over 600 million people, including all of the other 9 nations that are part of the ASEAN countries. It's central location, world class infrastructure and fair trade market make a business opportunity very abundant over this beautiful and rich culture that Thailand is. ASEAN Tour is spectacular with options from mountains and volcanoes to beautiful and paradisiacal beaches allowing any adventure lover to explore and stretch. Who is looking for a more sophisticated experience will find it as well with hotels, restaurants and resorts that are top notch and will meet anyone expectations. As any other world welcoming culture, Thailand really value its warm and welcoming tradition just like a good host will do. Do you speak Thai? if no, English is widen spoken and understood. You will find a homey feeling as soon as you arrive at the airport.

That’s about the ASEAN Tour, or ASEAN Thailand.

 

What World Bank has to say about work force in ASEAN Thailand?

According to the research conducted by World Bank, Thailand is all set to face the biggest skilled labor recession in the whole ASEAN jobs market. Traumatically, Thailand’s 83.5 percent of the labor force is unskilled, having its lower population of skilled labor followed by the likes of Malaysia, Cambodia, Indonesia and Vietnam.  The survey that was conducted between the years 2006 to 2009, also showed that only 38.8 percent of the working population are actually capable of the job. ASEAN Thailand was put on the lowest scale in that survey too!

 

Who is to blame then?

The labor force of a country is based on its education system and the expats. ASEAN Jobs are very likely to be filled by expats than locals, and there is a reason for it. World bank claims that the major reason for such depressing results are the ASEAN Thailand education system. The shortcomings in the Thai education system has decreased or even diminished the country’s competitiveness in the world open work, yet alone in ASEAN job market.

 

Conclusion by Mr. Kitana

Kitana, Deputy director general of Dhurakij Pundit University's research department, explains that the Thai education system has failed to give adequate skills to the people to raise their exposure towards latest technology and ever-changing market in world. The jobs created are of much high level for an average student who has recently graduated from the university or college. Hence, he said that students should be employed with necessary skills to meet the employer’s needs and requirements.

Based on a study by Google and Temasek Holdings, ASEAN is forecasted to have its digital economy reach $240 billion by 2025 due to strong growth in all sectors.
Thailand’s economic growth falls in Q3 as Thailand tourism and exports drops. But, political campaign spendings are expected to temporarily boost the economy.
The US-China trade war are causing companies to move their production sites to Southeast Asia, allowing ASEAN to see a higher inflow of foreign direct investment.
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