Economy Of Thailand Research Articles

Digital competency among the aged entrepreneurs under the silver economy with soft power in Thailand

The rise of the elderly in Thailand experiencing a significant demographic transformation resulted in a growing senior population to become a super-aged society by 2030. This affacted the demand for “silver economy in Thailand. The objectives are to study (1) the overview of digital competency among the aged entrepreneurs under the silver economy with soft power; and (2) the mechanism for digital competency empowerment among the aged entrepreneurs under the silver economy with soft power in Thailand. Mixed-research method was employed by quantitative (survey questionnaire) and qualitative (Focus group discussion and interview) with a total of 100 samples and 15 key informants involved: the government workers, the aged entrepreneurs, the private & industrial workers, the digital competency expertise, the elderly expertise, and the community leaders. Two main results reflected the objectives accordingly: 1) the overview of digital competency summarized from survey questionnaire found most of the positive factors as follow; 1.1) positive attitude toward digital competency even of their quite low educational background; 1.2) their positive practical existing skilled in digital competency : digital communication, digital media production, privacy, security, analytic thinking skills that can be well applied with their silver economy’s activities. 2) the mechanism for digital competency empowerment among the aged entrepreneurs found most urgent needs in more closed collaboration among all relevant sectors, starting from the lead government sector, private sector, and the local sectors to help expanding all kinds of empowerment activities. Deepen links by driving more inter-sectoral mechanism, resources sharing, regular consultation for internship, apprenticeship, on-site training, employment, market outlet and other schemes with equity, quality and sustainable practices.

Advancing Thai Agriculture: Strategic Proposals for a Young Smart Farmer in Thailand

The study "Advancing Thai Agriculture: Strategic Proposals for a Young Smart Farmer in Thailand" addresses the critical role of agriculture in Thailand's economy and the challenges it faces, such as climate change, water scarcity, and market volatility. It emphasizes the importance of young smart farmers and innovative solutions like smart farming technologies, sustainable practices, and educational programs to ensure the sector's future sustainability and productivity. The research employs qualitative methods, including interviews and participant observations, to gather data on governmental policies and the preparedness of the next generation of farmers. The findings suggest a need for strategic planning and stakeholder engagement to foster a new generation of knowledgeable, technologically adept farmers. This effort aligns with national strategies to transform Thailand into a knowledge-driven economy, emphasizing sustainable and efficient agricultural practices.

Structural Equation Modeling of Green Economy Outcomes in Thailand’s Manufacturing Industry

This research aimed to analyze the causal relationship model and outcomes of the Green Economy in Thailand’s manufacturing industry. Data was collected through a questionnaire targeting small and medium enterprise (SME) operators in the Thai textile manufacturing industry, who are registered as legal entities and SME members. The statistical analysis involved confirmatory factor analysis (CFA) and structural equation modeling (SEM). The major findings revealed that the structural model was well-aligned with the empirical data. The study demonstrated that the Green Economy, market effectiveness, and competitive advantage all had significant positive effects on business performance. Further analysis showed that the Green Economy directly influenced market pressures and competitive advantage. Additionally, the study identified positive direct relationships between market pressures, green dynamic capabilities, and socially responsible leadership with the Green Economy.

Tactics for Creating Tree Bank for Community Environment and Household Economy in Thailand

This article aimed to present strategies for creating a tree bank. Activities in tree bank plots for sustainable community environmental management and raising the household economy according to the new economic model were studied. The research area is a community that has successfully managed a tree bank and has been praised as a model in 3 regions, including 3 locations: Ban Tham Suea tree bank in Phetchaburi province, Khao Chakan agroforestry tree bank in Sa Kaeo province and Ban Khlong Ruea tree bank in Chumphon province. Data were collected through in-depth interviews. Group interviews were conducted and tree survey plots in the field were prepared. Committee members of the Tree Bank and representatives of the 3 Bank for Agriculture and Agricultural Cooperatives (BAAC), 11 people each, totaling 33 people were purposive sampling. Content analysis and the abundance of plant species were analyzed using the Menhinick (1964). The research results showed that the strategy for creating a tree bank involved group forming of household members with their own land by planting trees in agroforestry plots. The group acquire wood as an asset and use trees as collateral to guarantee loans from financial institutions that are guaranteed by the state. Environmental activities were organized by planting trees of at least 25 perennial trees per rai. 58 plant species as specified by the BAAC were chosen. Nourish the soil with compost made from scraps of leaves and branches. The richness index (R2) analysis showed that the abundance of tree species in all plots was at a high level (R2 =2.5-4.5). In terms of upgrading the household economy, knowledge of the production of firewood and burn charcoal, wood vinegar from trees, wood processing for house construction and furniture products was disseminated by the tree bank by organizing learning center and eco-tourism. Collaborative networks with organizations and educational institutions were built in order to use the tree bank for sustainable development.

The Impact of Gastronomic Tourism on the Regional Economy of Thailand: Examined by the Dynamic I-O Model after the Decline of COVID-19

It is reasonable to state that gastronomic tourism is an efficient tool that has the potential to refresh Thailand’s macroeconomic viability. With the aim of becoming a hub of tourism in Southeast Asia, Thailand’s tourism industry must urgently address and sustainably integrate gastronomic activities to navigate the troubled situation caused by its decline after the COVID-19 pandemic. This has led the authors to conduct a deep study on a regional input–output (I-O) table analysis for Thailand’s tourism system, specifically focusing on gastronomic activities and tourism industries. The tourism I-O data used in this study come from the official source provided by the Thailand Ministry of Tourism and Sport. Empirically, the results of the dynamic regional I-O model predict that Bangkok and its surrounding areas are the heart of gastronomic tourism development, driving income into Thailand’s economy. The eastern region stands as the second-largest area of gastronomy tourism, generating a positive impact on Thailand’s economy. On the other hand, the Northeast of Thailand receives less income from gastronomy tourism despite being the largest area in the country. Ultimately, there should be a greater emphasis on gastronomy tourism policies in order to fully maximize their potential for tourism development, stimulating every part of Thailand during the economic depression caused by COVID-19. Moreover, gastronomy tourism has the potential to play an important role in driving economic growth through the combination of cuisine and tourism development.

ASSESSING THE IMPACT OF RUBBER DEVELOPMENT POLICIES ON THE NATIONAL ECONOMY, INTRA-SECTOR DYNAMICS, AND EMPLOYMENT: UTILIZING A COMPUTABLE GENERAL EQUILIBRIUM MODEL APPROACH

Purpose – This research explores the effects of three rubber development policies on Thailand's economy and employment: increasing import taxes on rubber products, raising the rubber export tariff (CESS), and boosting domestic rubber consumption. The goal is to strengthen the rubber industry's foundation by promoting policies that enhance domestic rubber utilization, expand the rubber processing industry, and support farmer institutions.Methodology – Using a Computable General Equilibrium (CGE) model, the study analyzes the impact of these policies. Expert brainstorming sessions and in-depth interviews provided additional insights, guiding recommendations for government strategies to streamline rubber supply management and support the entire rubber production chain.Results – Key findings include: 1) Raising the rubber export tariff has minimal impact on the overall economy. 2) Mandating 30% domestic rubber utilization leads to modest economic growth and employment increases, despite Thailand's limited production structure. And 3) Increasing tariffs on imported rubber products has significant macroeconomic effects: a 10% tax increase results in 3.63% economic growth (612,707.70 million THB) and a 2.93% price rise. Employment increases by 6.69%, rubber product prices surge by 23.287% to 26.094%, and primary rubber prices rise by 41.091%.Implications – Policy recommendations include: Streamlining national rubber supply management, supporting upstream rubber production and creating value-added products, aligning rubber research with synthetic rubber needs, - enhancing domestic rubber usage and procurement regulations, developing new strategies for rubber growth, promoting the rubber glove industry, and achieving a 40:60 ratio of natural to synthetic rubber within five years, Establishing rubber special economic zones and strengthening farmer institutions and the Rubber Authority of Thailand (RAOT), and addressing low productivity per acre, establishing a central market, and creating an online platform for future rubber trading to boost producers' earnings and global competitiveness.Originality/Value – Implementing a 10% tariff increase on imported rubber products, comprehensive rubber system management, and maintaining a 30% domestic rubber usage rate are crucial. These measures are expected to invigorate the rubber market and enhance producers' earnings, securing a sustainable competitive advantage globally.

The impact of Google Maps application on the digital economy

Google Maps is indispensable for helping tourists navigate Thailand, which is a popular tourist destination. It includes comprehensive maps, points of interest, and lodging, dining, and attraction recommendations. It contributes to Thailand’s tourism industry’s growth by enhancing the overall travel experience (Amornvivat et al., 2017; The Nation, 2023). This study explains the Google Maps application’s impact on Thailand’s digital economy. This research adopted interviews with six Google Maps consumers and six business owners. Content analysis and NVivo were used to analyse the data. The results show that the Google Map application simplifies locating businesses, making reservations, and placing orders for users. Additionally, Google Maps recommends nearby businesses that may interest the user based on their location and preferences. Through mobile commerce and local recommendations, it encourages users to explore new businesses and stimulates local spending. Google Maps has had a significant impact on the digital economy in Thailand. It helps businesses increase visibility, interact with customers, and attract foot traffic to their physical locations. It also facilitates mobile commerce, provides local recommendations, and aids the tourism industry. Google Maps contributes to digital domain economic growth, increased sales, and enhanced user experiences by connecting users with pertinent businesses and facilitating efficient navigation.

Driving Community Enterprises to Create a Sustainable Grassroots Economy in Thailand

Driving Community Enterprises to Create a Sustainable Grassroots Economy in Thailand

THE DEVELOPMENT OF METAVERSE TECHNOLOGY TO RAISE UP THE STANDARD OF HEALTH TOURISM

This research aims to: 1. Investigate the factors of Metaverse technology development for VR spa glasses and their impact on the evolution of Metaverse applications for marketing; 2. Examine how the development of Metaverse applications for marketing influences the promotion of health tourism grounded in Thailand's creative economy (BCG). This study employs a mixed-methods approach. It involves surveying 372 tourists who utilized spa and Thai massage beauty services using a questionnaire. Additionally, focus group discussions were conducted with entrepreneurs and executives instrumental in elevating the standards of medical tourism. The data were analyzed using multiple regression analysis. The findings indicate that the advancement of Metaverse technology for VR spa glasses, encompassing aspects like content, functionality, and design, has significantly influenced the development of Metaverse applications for holistic marketing. This includes sensory experience, sensational experience, thought experience, action experience, and associated experience, with a notable R2 value of 0.590. The study also revealed that the development of Metaverse applications for marketing, encompassing aspects such as sensory experience, cognitive experience, action-oriented experience, and connected experience perceptions, significantly influences the overall drive of health tourism based on the creative economy (BCG) in the country. This encompasses factors like environmental friendliness, fairness, safety, cleanliness, and convenience, with a notable R2 value of 0.509.

Implementation of Islamic Economic Management at Kindergarden Phatnawitya School Thailand

The purpose of this research is to understand the concept and application of Islamic education and Islamic business management in Southeast Asia, the research area is Islamic education and Islamic business management in Indonesia and Thailand. This study uses an academic approach with a historical perspective. Using this process and conceptualizing and implementing Islamic education and Islamic business management in Southeast Asia (in Indonesia and Thailand), much of the existing and developed theory has to be clarified. The results of the study show that there are similarities in the concept and implementation of Islamic education and Islamic business management in Indonesia and Thailand which are geographically close to each other so that they can experience the same historical moment that encompasses them to the stage of civilization. World time Another thing that is similar is that the two countries are in the ongoing development of the Islamic economy, even today the development of the Islamic economy in Thailand is very rapid, especially at Kindegarden Phatnawitya School.

Material circularity indicator for accelerating low‐carbon circular economy in Thailand's building and construction sector

AbstractThailand's steady growth of urban areas and industrial estates, the construction sector needs to adopt a low‐carbon circular economy (CE) model that emphasizes material circularity and resource efficiency. This research aims to measure the low‐carbon CE of the construction industry through significant representative products, life cycle assessment and material circularity indicator (MCI) were measured on significant representative products materials were evaluated. In the results of the study, it was found that the MCI and GHGs revealed the following results: 1 ton of construction steel products = 0.73 and 2.32 kgCO2/ton, 1 bag (50 kg) of mortar and cement products = 0.17 and 16.92 kgCO2/bag, 1 m3 of ready‐mixed concrete at compressive strength 240 kilograms per square centimeter = 0.11 and 253.63 kgCO2/m3, 1 m3 of wood and composite wood products = 0.17 and 745.84 kgCO2/bag, also 1 m2K/W (meters squared Kelvin per Watt) of glass wool insulation = 0.50 and 1.63 kgCO2/m2K/W, respectively. These values are indicated as national baselines for monitoring CE performance that contribute to the industry's long‐term viability and turn to sustainability in Thailand through the key strategic issues in Thailand's CE and low‐carbon society. The GHGs reduction of 11 million tons is expected, which can also increase the 10% of material circularity, also the estimation of the economic value, by considering the value added from material reduction and the price of carbon credit from construction and demolition waste reduction affect the Thai construction industry by approximately 67 million dollars.

Environmental impact of passenger car tire supply chain in Thailand using the life cycle assessment method

Although the tire industry contributes to Thailand's economy, every phase throughout its supply chain has the potential to harm the environment. A comprehensive understanding of all potential environmental impacts and a comparison study are effective approaches to the mitigation of such harm. This research applied a life cycle assessment (LCA) to analyze the detrimental effects of the Thai automotive tire supply chain, starting from rubber plantations, tire production and utilization stage until end-of-life tire handling. Two types of waste tire management technologies, namely, pyrolysis and reclaimed rubber, were compared to identify the optimal disposal option. The results found that both management technologies have negative values for almost every category as a result of the avoided impact from valuable products. The only exception is water consumption in pyrolysis. Global warming, terrestrial ecotoxicity, and fossil resource scarcity are significant benefits if end-of-life tires are recycled. When considered throughout the supply chain, reclaimed rubber yielded a superior negative value for the total score of terrestrial ecotoxicity and water usage. This demonstrates the advantage of reclaiming worn-out tires to replace traditional synthetic rubber, as opposed to pyrolysis, where the cumulative value remains positive. The uncompensated impact came from the higher impact of tire manufacturing and the use of tires. The use of gasoline and greenhouse emissions produced the most effects during the usage phase, while electricity consumption was the major contributor to tire manufacturing and waste tire disposal. As a result, waste tire management technology to recover valuable materials and power system efficiency improvement were suggested, along with research and development of a new tire model for diminishing gasoline consumption and air pollution. These strategies could mitigate the environmental impact and eventually enhance the sustainability of the tire supply chain.

Community Enterprise in Processed Agricultural Products after the COVID-19: Problems and Adaptation for the Development of Grassroots Economy

Community entrepreneurs in a processed agricultural product are the foundation of the economy which links the agricultural sector of the nation. They play an important role in driving the grassroots economy of Thailand after the COVID-19 pandemic. This study reflected the usage of major ingredients grown locally in the processing of agricultural products, which provide the advantage of unique local ingredients while also preventing the waste of oversupply. Meanwhile, entrepreneurs have conventional wisdom in processing raw materials into products. Additionally, the challenging issues for small community enterprises are administration and fundraising to expand their production. The lack of labours in rural areas also poses a challenge to the administration of community enterprises. The findings also reveal that there should be a sustainable extension of other activities, such as integrating agritourism activities and the development of a sustainable ecosystem. There should also be the utilization of online channel in the sales and communication of products and communities’ identities. It was also found that the supporting mechanism for community enterprises is still limited in some ways due to the requirement to follow central policies in development. Finally, the new generation should be motivated to join community enterprises in processed agricultural products as they could help in the long-term development of the community.

Closing the loop or widening the gap? The unequal politics of Thailand's circular economy in addressing marine plastic pollution

Closing the loop or widening the gap? The unequal politics of Thailand's circular economy in addressing marine plastic pollution

The Impact of Falling Tourism Industry Caused by Covid-19 on Thai Currency and the Thai Baht’s Prospects

The purpose of this paper is to analyze the influence of the severe drop in the tourism industry caused by the pandemic in Thailand on the US dollar/Thai baht exchange rate over the last two years. In order to provide an explanation for the recent devaluation of the Thai baht, this article discusses the significance of tourism to the economy of Thailand, as well as the potential effects a drop in tourism could have on interest rates, inflation, and other aspects of the Thai economy. The article predicts that the Thai tourism industry will soon revive, given the Thai government's current tourism promotion measures and the successes already achieved by these programs. By investigating the impact of tourism fluctuations on the Thai baht's exchange rate, the report forecasts a gradual appreciation of the baht over the next few years.

The sharing economy in a developing economy: The perspective of the leisure business

Currently, sharing economy business models play a significant role in the economy (Quang, 2021). The emergence of such models has generated new business opportunities, such as Airbnb and Uber, which are well-known global leisure businesses (Lee et al., 2021; Tseng & Chan, 2021). Using binary regression analysis, this study investigated the factors influencing the leisure business-sharing economy in Thailand. Since there are few studies on the sharing economy in Thailand, this research could be beneficial to Thai sharing economy leisure enterprises. The findings revealed that the sharing economy (online music — Spotify) could be described using Twitter and Line. The sharing economy (online accommodation — Airbnb) could be described using Facebook, Twitter, and YouTube. The sharing economy (online taxi service — Grab) could be described by being a student and Line. Because more service providers will appear, businesses must adapt significantly, and everyone has an equal opportunity to enter the sharing economy through simple and easy social media. To strengthen community cooperation, create a sense of security and peace of mind, and reduce the gap in consumption of goods and services in the sharing economy, comprehensive and consistent relevant laws are required for the development of the next phase in resource sharing.

The token economy in a developing country

The token economy is a decentralized digital economy enabled by blockchain technology based on the premise of controlling asset ownership with digital tokens (Zhao et al., 2019). The increase in digital asset ownership among Thai residents over the past year (Kemp, 2022) is indicative of the expansion of the token economy. Therefore, the purpose of this study is to analyze the factors influencing the token economy in Thailand. Multiple regression analysis has been used to analyze the data acquired from Thai investors who are at least 20 years old, hold financial instruments, and frequently access the Internet. The findings show that an individual’s education level and monthly income, as well as their obtaining of investment news through mass, online, or print media or through meetings, have a statistically significant positive relationship to the token economy, while the savings rate has a negative one. The research proposes that these factors should be considered when a company prepares promotional activities, and that consumers with low savings rates should receive more attention because they are more inclined to embrace digital tokens.

The lazy economy in a developing country

The evolution of technology encourages lazy behaviour or addiction to convenience. Consumers are willing to pay for products and services that help them to live a more comfortable life thanks to changes in their behaviour. They want to save time and energy for something else; even if a job is beneficial to them, they would prefer someone else to do it (Komin, 2019). The lazy economy is an intriguing economic trend in today’s world as the market for hyper-convenience is rapidly expanding (Chou, 2019). This study investigated the factors affecting the lazy economy in Thailand. A quantitative approach was employed. An online questionnaire was used to collect data from a convenience sample of 636 participants in Thailand. Binary regression analysis was performed for the data analysis. For online shopping, the lazy economy could be described as being a student, using Facebook, and using Twitter. For catering, the lazy economy could be described by score and education. The development of comprehensive and consistent related laws is required in the next phase to share resources, strengthen community cooperation, create a sense of security and peace of mind, and reduce the gap in the consumption of goods and services in the lazy economy.

Innovation Factors of Engineers in Thailand's Construction Industry

The construction industry is important to Thailand's economy. However, due to the competition in the fast-changing world, entrepreneurs must adjust their business practices to seek opportunities to benefit from competitive advantages. Additionally, modern technology is applied to all the processes of the construction industry to increase efficiency. The objectives of this research were to 1) analyze the opinions of engineers on the construction business innovation factors, and 2) analyze how engineers with different occupations, types of construction work, training, work experience, and professional fields influenced the construction business innovation factors. This research is quantitative. The target group was engineers working in the construction industry in Bangkok and its vicinity, Chonburi and Nakhon Ratchasima, which all together are the economic center of Thailand. There were 80 samples. The questionnaire was validated by three experts before the data collection began. The sampling was not random; a purposive selection method was used. The data were analyzed using descriptive and inferential statistics with frequency, percentage, and the F test. The results of the analysis showed that the overall level of business innovation factors in the construction industry was moderate, with an average of 4.40. When considering the level of innovation factors in each aspect, it was found that paradigm innovation, product innovation, position innovation, and process innovation had an average of 4.65, 4.40, 4.38, and 4.20, respectively. It was also found that personal factors differing in occupation, types of construction work, training, work experience, and professional fields related to business in the construction industry did not have a statistically significant effect on product innovation, process innovation, position innovation, and paradigm innovation. Therefore, the research results will be useful in seeking business opportunities in the construction business for further development into building a construction industry business network that would increase sales and profits. Additionally, engineers pay attention to innovation as a factor that affects the efficiency of the construction industry. However, construction organizations must plan for employee training, experience building, and work plans to achieve better performance, and construction industry business has brought in modern technology to help in the construction process to improve the efficiency of the construction work by using Internet of Things (IoT) technology to track the use of construction resources and uses drones for on-site inspections better and more accurately. Keywords: innovation factors, construction industry, engineers, Thailand. DOI: https://doi.org/10.55463/hkjss.issn.1021-3619.60.72

Research on Evaluation of Thailand's Economic Resilience and Coupling Coordination

Research on Evaluation of Thailand's Economic Resilience and Coupling Coordination