THE IMPACT OF COVID-19 PANDEMIC ON ECONOMY OF THAILAND

  • Irina V Onyusheva Stamford International University, Bangkok
  • Patthamaphon Chompuprapet Stamford International University, Bangkok
  • Thawarat Panusokul Stamford International University, Bangkok
  • Preeyaporn Lekwatthanarot Stamford International University, Bangkok
Keywords: economy, Thailand, GDP, COVID-19, pandemic

Abstract

Thailand has been one of Asia’s worst-hit economies by the coronavirus in 2020. In terms of government actions, as a second wave strikes, the government is trying to avoid the economic damage of a full lockdown, finding the ways of fast economic recovery.

The present status of Thailand's economy is examined in this study, which considers GDP and its components such as consumption, investment, government expenditure, exports, and imports. Paper detected Thailand’s advantages and disadvantages based on conducting the comparative analysis of existing patterns of macroeconomic development, and socio-political aspects. It has been suggested the possible solutions and recommendations on how to improve the current economic state of the country.

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Author Biographies

Irina V Onyusheva, Stamford International University, Bangkok

Dr., Prof., Stamford International University, Bangkok, Thailand.

Interests – economics, strategic management, formation, ensuring and increasing economic competitiveness on both micro- and macro- levels; human capital development; HR management; knowledge economy; knowledge management; project management; management in education.

Patthamaphon Chompuprapet, Stamford International University, Bangkok

MBA, Stamford International University, Bangkok, Thailand.

Interests – international business management, strategic management.

Thawarat Panusokul, Stamford International University, Bangkok

MBA, Stamford International University, Bangkok, Thailand.

Interests – international business management, strategic management.

Preeyaporn Lekwatthanarot, Stamford International University, Bangkok

MBA, Stamford International University, Bangkok, Thailand.

Interests – international business management, strategic management.

References

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SCB (2021). Investment in Thai Stocks during the New Normal. Available online: https://www.scb.co.th/en/personal-banking/stories/grow-your-wealth/investing-thai-stocks.html

UNWTO (n.d.). National Tourism Export Strategy. Available online: https://www.intracen.org/uploadedFiles/intracenorg/Content/Exporters/Sectors/Service_exports/Trad e_in_services/ITC-UNWTO%20National%20Tourism%20Export%20Strategies.pdf

WITS (2019). Thailand trade statistics. Available online: https://wits.worldbank.org/CountryProfile/en/THA

Abstract views: 246
PDF Downloads: 159
Published
2022-03-31
How to Cite
Onyusheva, I., Chompuprapet, P., Panusokul, T., & Lekwatthanarot, P. (2022). THE IMPACT OF COVID-19 PANDEMIC ON ECONOMY OF THAILAND. The EUrASEANs: Journal on Global Socio-Economic Dynamics, (2(33), 66-71. https://doi.org/10.35678/2539-5645.2(33).2022.66-71