Road accident-related deaths cause massive losses, about four billion baht, or around six million baht/case, each year in Thailand. The loss is much higher if we include injuries, with many paralysed, and the psychological impact on the families of the deceased and those injured.
According to the UN World Population Prospects, Thailand is an early bird among developing nations which has now entered an aged society with about 20% of its population over 60 years old. As the number of old people increases, each elderly person can depend less on their children.
Beyond Tourism: How Thailand Economy Is Bouncing Back From COVID-19
Kirida Bhaopichitr is Economics Research Director at the Thailand Development Research Institute which advises the Thailand Government on development policies. She argues this is more than just a pandemic bounce for ASEAN’s second biggest economy.
Using the BLI as a benchmark, we found among 20 indicators that Thailand has data for, there were five issues where Thailand scored better than the average OECD member. These include voter turnout, life satisfaction, housing expenditure, dwellings with basic facilities, and long-term unemployment.
Here are the must-dos: Reduce unnecessary deaths, revamp the education system, restore the natural environment for sustainable tourism, invest in local infrastructure, streamline production, improve research and development, and more innovation.