The Report: Thailand 2009 was launched on 29 June 2009 at Royal Thai Government House Santi Maitri Building in the presence of the Prime Minister of Thailand Abhisit Vejjajiva, the Minister of Industry, Chanchai Chairungruang, and other key representatives from the world of politics and business.

Marking OBG’s first report on Thailand’s economy, The Report: Thailand 2009 includes a detailed, sector-by-sector guide for foreign investors, together with a wide range of interviews with the most prominent political, economic and business figures, including the Prime Minister.

Other key personalities contributing interviews include Taro Aso, the Prime Minister of Japan, Korn Chatikavanij, Thailand’s Minister of Finance, and Supachai Panitchpakdi, Secretary-General UN Conference on Trade and Development and former Director-General WTO.

High profile international figures, such as former US President George W Bush also gives their views on Thailand’s economic development. The Report: Thailand 2009 has been produced in partnership with the Board of Investment (BOI), which provides investment information, services and incentives for investors. Contributions have also been made by Thanachart Securities as OBG’s capital markets research partner, Tilleke & Gibbins as its legal partner and BDO Richfield Advisory Limited as its accountancy partner.

Thailand’s Minister of Industry, Chanchai Chairungruang, welcomed OBG’s decision to publish its first report on the country. “OBG has provided ground-breaking analysis and data in The Report: Thailand 2009 at a time when key players in the international business community are making important investment decisions,” he said. ” Dr. Atchaka Brimble, BOI Secretary General, said that the Board had relished the opportunity to contribute its knowledge and experience of Thailand’s investment potential to The Report: Thailand 2009.

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The global economic recovery that appears to be underway was the main topic at the annual symposium held by Thailand’s central bank this week.

The Thai economy will face challenges from low global growth, an appreciating currency and higher funding costs in the years ahead, according to economists at the Bank of Thailand.

Central bank economists at the bank’s yesterday focused on future trends and policy challengesannual economics symposium in the wake of the global downturn.

Even with the worst of the recession apparently over, high household debt and wealth destruction in the US will constrain its consumer purchasing power for five years, while rising bad debt and the need to raise capital will also hamper the US financial sector.

funding costs – money paid to borrow money (interest paid on money plus fees)
hiked funding costs – increased funding costs

challenges – new and difficult tasks that require great effort and determination
face challenges – meet or encounter new challenges in work or life
appreciating currency – a country’s currency (like the Thai baht) which is increasing in value

symposium – a conference or large meeting in which experts and acadmics discuss a subject in detail
annual economics symposium –
X in the wake of Y – X happened after Y
apparently over – seems to be finished (but not sure)
high household debt and wealth destruction – households (families) have borrowed a lot of money and they have had their savings or “wealth” destroyed by the collapse in stock and housing prices

constrain – restrict or limit
constrain its consumer purchasing power – limit what consumers can buy
rising bad debt – more and more people and companies not able to pay back loans
hamper – prevent action

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Thailand is quickly developing a reputation as one of the chief vacationing spots out there, and you’ll find that the city of Phuket is the gleaming gem in the crown. In terms of being a central place where you can find easy access to just about everything you need. One of the things that you will notice when you start staying in hotels a lot is that the hotel industry on a global level is becoming more standardized. A hotel in New York will often have a great deal in common to a hotel in Asia these days, and while that might be fine for people who are only interested in business or in staying in familiar surroundings, it is quite annoying for someone who is really looking to experience a different culture and lifestyle. If you are interested in really getting the most out of your visit, you’ll find that renting or even buying a Phuket residence is the way to go!

If you have to ask why you want to rent or buy a villa in Phuket specifically, then it is fairly clear that you have never been to the city itself. You’ll find that you can find diving, golfing, rainforest hikes, cruises and an extremely exciting nightlife, all in one, easy to access location. You’ll find that there is a very good reason that this city is known for its hospitality and for its excellent properties, and many people who come here once will come again and again; some of them even decide that they want to retire here or move there permanently.

There has been a strong urge from the people in the property sector to the country’s newly-elected democratic government to be more generous towards foreign property investors. Thailand going back to democracy after a 15 month military rule has already had a positive impact on the property market. There have been a notable number of deals completing during the high season in Phuket as well as more visitors to the sole agency projects. The newly elected government has begun to take initiatives toward a more open and favorable policy for foreign property investors. The new government has already taken away the 30% capital control which is thought to support bringing back foreign investments.

Since the December election, foreign investors have shown increased interest. Established developments have witnessed a particularly alive high season. Newly awarded projects have also met with a positive response. A similar trend is witnessed in Samui with a clear rise in visiting and purchases of resort properties. It is anticipated that there will be further demand in Samui with surge in flight schedules. The Samui market for luxury villas is closing on Phuket, with the establishment of international hotel brands wooing quality tourism. Samui has traditionally been a less favored beach destination, but this not at all the case now as it is emerging rapidly as a beach destination. Lot of high net worth investors is now increasingly keen. The Treasury Department’s recent land value appraisal displayed that land values in Phuket have rose by an average 160 per cent over the past four years, with Samui prices following closely. The steady rise in land prices on Thailand’s coast points to the confidence in the market and its long term prospects. There is no doubt that Thailand’s property market is continuously flourishing. Foreign investors will have a good time investing in Thailand from now onwards. If you are ready to forget the unfriendly past of Thailand and show renewed faith you are set to benefit.