Thailand’s ambition to become a high-income nation by 2037 faces a tough road ahead. According to the latest World Bank outlook, Thailand’s economy grew 2.5% in 2024 and is expected to slow even further to 1.8% in 2025 and 1.7% in 2026 — far below the 5% annual growth rate needed to reach its high-income objective.

The World Bank’s country director stressed the need for Thailand to rapidly accelerate its economic transformation and investment in order to escape the middle-income trap. Income and wealth inequality remain deep-rooted; the top 10% control 75% of the nation’s wealth, and while social safety nets have expanded, their impact so far has been limited.

Five future-focused industries stand out as engines of growth, collectively offering a market potential of $1.8 billion: green energy, digital technology, advanced manufacturing, health and wellness, and innovative tourism. These sectors could drive export gains, boost foreign investment, and create high-quality jobs — helping Thailand move beyond its traditional reliance on tourism and basic manufacturing.

However, headwinds abound. Thailand faces subdued global demand, flat exports, and an aging population that is straining public services and infrastructure. Climate change is another serious threat: the nation aims for carbon neutrality by 2050, but serious investment is required to protect against extreme weather and to maintain competitiveness on the world stage.

On the policy front, recent government cash stimulus measures aim to jumpstart consumption and investment, but experts warn that focusing on sustainable growth, technological innovation, and reduced inequality is critical for long-term prosperity.

Whether Thailand can meet its high-income ambitions hinges on bold reforms, strategic investments, and the ability to adapt quickly to emerging global trends. The next decade will be decisive for the nation’s future.