Why Human Capital Is Essential To The Growth Of Thailand

Based on Thailand Economic Monitor by the World Bank, the economy of Thailand is expected to increase by 3.8 per cent this year and 3.9 per cent for the following year despite the slowdown in the international market and the trade tensions that continues. In order for Thailand to become a high-income country, it must rely with recruitment companies Bangkok to provide the human capital it needs. This will help the country reach the economic reforms it has been dreaming of as well as provide equal opportunities for all locals living in Thailand.

Last year was quite a shock for the nation because of external factors such as the trade issues and the tourism yet when looking at the economy of Thailand by the end of 2018 it was able to increase by 4.1 per cent. This is one proof that its economy is not going down without a fight. It may be experiencing struggles now from international forces but it draws strength from the domestic demand such as the rise in private investment and private consumption.

The country is still in the same path as the trend following by the international economy but for 2019 experts believe that an economic slowdown may be felt albeit very small. This is also the year that more focus will be given to the infrastructure projects of the public and in 2020 it will be a full speed ahead because of the Eastern Economic Corridor.

On October of 2018, the Human Capital Index was released by the World Bank which determines the level of productivity of the incoming generation of employees based on their education and health. Thailand shows exemplary result for the upper half in comparison to other countries in ASEAN but there is still a lot to improve.

If a child is to be born now in Thailand, its potential will max out at 60 because of the education system in the country which is not equal for all. Unless these factors can be rectified, recruitment companies Bangkok believes that the country will not be able to move forward along with its human capital.