With a vaccine a long way off and international travel being put back further and further, what kinds of economic alternatives could Thailand be investing in?
I have read in some places that up to 80% of tourism income goes straight out of the country to overseas operators and multi-national corporations, so maybe moving away from this kind of exploitation will be a good thing in the longer term.
Surely Thailand has many other resources that could be focussed up in this time of need. Other countries are talking about green industry kickstarts, which would seem ideal for Thailand where nature seems to grow faster than most other places. What other others have good potential for diversification?
What are some alternative solutions to Thailand's over-reliance on tourism?
Re: What are some alternative solutions to Thailand's over-reliance on tourism?
Anything export related is going to struggle with an over inflated currency.
Thailand could rely more on its favourable climate with incentives such as peer-to-peer energy sharing, which have already started: https://medium.com/power-ledger/power-l ... df5aba3d0a
Thailand could rely more on its favourable climate with incentives such as peer-to-peer energy sharing, which have already started: https://medium.com/power-ledger/power-l ... df5aba3d0a
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: What are some alternative solutions to Thailand's over-reliance on tourism?
Perhaps reducing imports could balance the decline of exports.
Solar power is a very interesting prospect for Thailand, although I have been told that the ambient temperature of the tropical climate reduces efficiency significantly.
I do like the idea of small community grids, although the article you linked to might not be the best example of such a project. Not only was it a thinly veiled marketing piece written by the company marketing department, it over-emphasised hyped investing terms like block chain and P2P. Still, I would be very interested to read a report from an unbiased third party on how the project has performed in the last two years.
I was always intrigued why Thailand did not have much more solar power, either PV or water heating or other uses. I do not recall seeing any electric cars or even electric scooters. Why is this? Is it because investment is not subsidised, or are there corporate vested interests who benefit too much from keeping the status quo?
Solar power is a very interesting prospect for Thailand, although I have been told that the ambient temperature of the tropical climate reduces efficiency significantly.
I do like the idea of small community grids, although the article you linked to might not be the best example of such a project. Not only was it a thinly veiled marketing piece written by the company marketing department, it over-emphasised hyped investing terms like block chain and P2P. Still, I would be very interested to read a report from an unbiased third party on how the project has performed in the last two years.
I was always intrigued why Thailand did not have much more solar power, either PV or water heating or other uses. I do not recall seeing any electric cars or even electric scooters. Why is this? Is it because investment is not subsidised, or are there corporate vested interests who benefit too much from keeping the status quo?
Re: What are some alternative solutions to Thailand's over-reliance on tourism?
The piece was just an example of something currently happening in the sector. Power Ledger also has operations in Japan and Australia and no, I don't work for them!
Thailand buys cheap power from Burma and Laos and sells it on at a profit to its people, so the incentives to allow the population to generate their own electricity for free are small.
Battery tech would also be a good investment, but again there are likely to be corporate interests preventing it.
Notice how billionaire family monopolies are very common here? ... not sure Thailand is that interested in innovation.
Thailand buys cheap power from Burma and Laos and sells it on at a profit to its people, so the incentives to allow the population to generate their own electricity for free are small.
Battery tech would also be a good investment, but again there are likely to be corporate interests preventing it.
Notice how billionaire family monopolies are very common here? ... not sure Thailand is that interested in innovation.
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Re: What are some alternative solutions to Thailand's over-reliance on tourism?
Hi Wenshidi,
My opinion is that Thailand should seek to re-open its Tourist industry as quickly as possible. In terms of exports/imports the Thai Tourist industry is, or has potential to be world class. The notion that you can just develop alternative major industries from scratch is unrealistic. Some Gulf states are trying to do it, oil to tourism but its taking decades and a matter of opinion if they are successful. In technology I would say impossible but I would love to hear about examples.
Green technology is an easy soundbite for politicians, but the examples of success normally have individual entrepreneurs behind them. And for every success, there are hundreds whose dreams bit the dust.
The local energy points raised have always interested me, and I came across some work at a UK University running trials on this technology. Technically, local DC systems work fine as they have done since American inventor and businessman Thomas Edison established the first utility in 1882. He based its infrastructure on DC power. His rival and engineer George Westinghouse introduced a rival AC-based power, which was better at distributed centralied electricity over longer distances.
So in summary, I think the people of Thailand should stick to what they are good at.
My opinion is that Thailand should seek to re-open its Tourist industry as quickly as possible. In terms of exports/imports the Thai Tourist industry is, or has potential to be world class. The notion that you can just develop alternative major industries from scratch is unrealistic. Some Gulf states are trying to do it, oil to tourism but its taking decades and a matter of opinion if they are successful. In technology I would say impossible but I would love to hear about examples.
Green technology is an easy soundbite for politicians, but the examples of success normally have individual entrepreneurs behind them. And for every success, there are hundreds whose dreams bit the dust.
The local energy points raised have always interested me, and I came across some work at a UK University running trials on this technology. Technically, local DC systems work fine as they have done since American inventor and businessman Thomas Edison established the first utility in 1882. He based its infrastructure on DC power. His rival and engineer George Westinghouse introduced a rival AC-based power, which was better at distributed centralied electricity over longer distances.
So in summary, I think the people of Thailand should stick to what they are good at.
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handdrummer
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Re: What are some alternative solutions to Thailand's over-reliance on tourism?
I think the people of Thailand should stick to what they are good at.
Eating.
Eating.