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A quick glance at Thailand news and the online publication “Thailand Business News” tells the tale of the growth taking place in the Thai economy.
The World Bank projects that growth prospects for 2017 and 2018 remain positive for developing east Asia and the Pacific
Favourable external factors include stronger growth in advanced economies, a moderate recovery in commodity prices, and a strengthening of global trade growth.
In Thailand Business News we get a picture of the financial trends and forecasts taking place in Asia. Currently, healthcare challenges are expected due to demographics shifts and lifestyle changes.
Thailand and Malaysia are expected to grow more rapidly than expected, due to stronger exports and tourism for the former, and increased investment in the latter.
Disparity in gender pay schedules is under the microscope and on a more positive note, the e-sports market is rising quickly.
Asian sports betting
With the rise of e-sports, comes an entire thriving industry of sports betting. Popular online betting companies such as Betway, are helping to boost the economy through a give and take system that puts funding back into the community.
Most online e-sports betting companies make an effort to revitalize sports clubs and support them with generous donations when business is up.
Gender pay differences
The media reports that there is a lack of gender parity when it comes to leadership positions in Asia. A random survey showed that most of the general public believe that this is unintentional.
Asia is seeing a movement of men who are jumping on the bandwagon to tailor programs to combat the issue of gender inequality. This is a positive step that could offer far reaching benefits for women in the workplace.
Asia facing potential financial crisis over healthcare
“Thailand Business News” reports that there is an emerging shift in demographics and lifestyle that could necessitate a $320 billion healthcare challenge by the year 2025. Projections are based on a growing trend in obesity rates.
Poor eating habits pose a significant threat to the health of the people in Thailand, Singapore, Indonesia, Philippines, Vietnam and Malaysia. The estimated cost increase is expected to total $740 billion in USD, up from the current cost of $420 billion.
Thailand news is a mixed bag of financial ups and downs
The picture we’re getting is not totally bleak. Although the eight nations of Asia will face some serious challenges in funding healthcare for a higher population that has a rising trend in unhealthy lifestyle choices, there are more positive things happening that could help avert a crisis.
On a social and economic level, levelling the playing ground for women in the workforce will have a positive effect on the economy.
The thriving e-sports market that is quickly approaching $1 billion who participate in online gaming is another plus. E-sports is expected to continue to gain in popularity, based on current trends and an annual growth rate of 38%.
Potential impact of demographic shifts
Currently, the e-sports industry is supported by people who fall in the age group of 18-36. This is the fastest growing group in the region and it could well be the driver that pushes the market even higher.
This would be good news for countries who are looking at a stiffer healthcare expense. Amidst the changes taking place in Asia, both good and bad, we’re seeing that the region has a few new industries that are emerging on the scene and if the e-sports market continues on its current trajectory, Asia will see a tremendous boost in the years to come.