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Thursday, March 23, 2017

Economy Thailand

Bangkok is the economic centre of Thailand, and the heart of the country's investment and development. In 2010, the city had an economic output of 3.142 trillion baht (98.34 billion US dollars), contributing 29.1 percent of the gross domestic product (GDP). This amounted to a per-capita GDP value of ฿456,911 ($14,301), almost three times the national average of ฿160,556 ($5,025). The Bangkok Metropolitan Region had a combined output of ฿4.773tn ($149.39bn), or 44.2 percent of GDP. Bangkok's economy ranks as the sixth among Asian cities in terms of per-capita GDP, after Singapore, Hong Kong, Tokyo, Osaka–Kobe and Seoul.

Wholesale and retail trade is the largest sector in the city's economy, contributing 24.0 percent of Bangkok's gross provincial product. It is followed by manufacturing (14.3%); real estate, renting and business activities (12.4%); transport and communications (11.6%); and financial intermediation (11.1%). Bangkok alone accounts for 48.4 percent of Thailand's service sector, which in turn constitutes 49.0 percent of GDP. When the Bangkok Metropolitan Region is considered, manufacturing is the most significant contributor at 28.2 percent of the gross regional product, reflecting the density of industry in the Bangkok's neighbouring provinces. The automotive industry based around Greater Bangkok is the largest production hub in Southeast Asia. Tourism is also a significant contributor to Bangkok's economy, generating ฿427.5bn ($13.38bn) in revenue in 2010.

The Stock Exchange of Thailand (SET) is located on Ratchadaphisek Road in inner Bangkok. The SET, together with the Market for Alternative Investment (mai) has 648 listed companies as of the end of 2011, with a combined market capitalization of 8.485 trillion baht ($267.64bn). Due to the large amount of foreign representation, Thailand has for several years been a mainstay of the Southeast Asian economy and a centre of Asian business. The Globalization and World Cities Research Network ranks Bangkok as an "Alpha−" world city, and it is ranked 59th in Z/Yen's Global Financial Centres Index 11.

Bangkok is home to the headquarters of all of Thailand's major commercial banks and financial institutions, as well as the country's largest companies. A large number of multinational corporations base their regional headquarters in Bangkok due to the lower cost of the workforce and firm operations relative to other major Asian business centres. Seventeen Thai companies are listed on the Forbes 2000, all of which are based in the capital, including PTT, the only Fortune Global 500 company in Thailand.

Income inequality is a major issue in Bangkok, especially between relatively unskilled lower-income immigrants from rural provinces and neighbouring countries, and middle-class professionals and business elites. Although absolute poverty rates are low—only 0.64 percent of Bangkok's registered residents were living under the poverty line in 2010, compared to a national average of 7.75—economic disparity is still substantial. The city has a Gini coefficient of 0.48, indicating a high level of inequality.

From Wikipedia,

Tourism Bangkok

Tourism

Bangkok is one of the world's top tourist destination cities. MasterCard ranked Bangkok as the top destination city by international visitor arrivals in its Global Destination Cities Index 2016, ahead of London with more than 21 million overnight visitors. Euromonitor International ranked Bangkok fourth in its Top City Destinations Ranking for 2016.Bangkok was also named "World's Best City" by Travel + Leisure magazine's survey of its readers for four consecutive years, from 2010 to 2013.^[78]

As the main gateway through which visitors arrive in Thailand, Bangkok is visited by the majority of international tourists to the country. Domestic tourism is also prominent. The Department of Tourism recorded 26,861,095 Thai and 11,361,808 foreign visitors to Bangkok in 2010. Lodgings were made by 15,031,244 guests, who occupied 49.9 percent of the city's 86,687 hotel rooms.^[68]

Bangkok's multi-faceted sights, attractions and city life appeal to diverse groups of tourists. Royal palaces and temples as well as several museums constitute its major historical and cultural tourist attractions. Shopping and dining experiences offer a wide range of choices and prices. The city is also famous for its dynamic nightlife. Although Bangkok's sex tourism scene is well known to foreigners, it is usually not openly acknowledged by locals or the government.

Among Bangkok's well-known sights are the Grand Palace and major Buddhist temples, including Wat Phra Kaew, Wat Pho, and Wat Arun. The Giant Swing and Erawan Shrine demonstrate Hinduism's deep-rooted influence in Thai culture. Vimanmek Mansion in Dusit Palace is famous as the world's largest teak building, while the Jim Thompson House provides an example of traditional Thai architecture. Other major museums include the Bangkok National Museum and the Royal Barge National Museum. Cruises and boat trips on the Chao Phraya and Thonburi's canals offer views of some of the city's traditional architecture and ways of life on the waterfront.

Shopping venues, many of which are popular with both tourists and locals, range from the shopping centres and department stores concentrated in Siam and Ratchaprasong to the sprawling Chatuchak Weekend Market. Taling Chan Floating Market is among the few such markets in Bangkok. Yaowarat is known for its shops as well as street-side food stalls and restaurants, which are also found throughout the city. Khao San Road has long been famous as a backpackers' destination, with its budget accommodation, shops and bars attracting visitors from all over the world.

Bangkok has a reputation overseas as a major destination in the sex industry. Although prostitution is technically illegal and is rarely openly discussed in Thailand, it commonly takes place among massage parlours, saunas and hourly hotels, serving foreign tourists as well as locals. Bangkok has acquired the nickname "Sin City of Asia" for its level of sex tourism.^[80]

Issues often encountered by foreign tourists include scams, overcharging and dual pricing. In a survey of 616 tourists visiting Thailand, 7.79 percent reported encountering a scam, the most common of which was the gem scam, in which tourists are tricked into buying overpriced jewellery.

From Wikipedia,

Bangkok History

History

The history of Bangkok dates at least back to the early 15th century, when it was a village on the west bank of the Chao Phraya River, under the rule of Ayutthaya. Because of its strategic location near the mouth of the river, the town gradually increased in importance. Bangkok initially served as a customs outpost with forts on both sides of the river, and became the site of a siege in 1688 in which the French were expelled from Siam. After the fall of Ayutthaya to the Burmese Empire in 1767, the newly declared King Taksin established his capital at the town, which became the base of the Thonburi Kingdom. In 1782, King Phutthayotfa Chulalok (Rama I) succeeded Taksin, moved the capital to the eastern bank's Rattanakosin Island, thus founding the Rattanakosin Kingdom. The City Pillar was erected on 21 April, which is regarded as the date of foundation of the present city.

Bangkok's economy gradually expanded through busy international trade, first with China, then with Western merchants returning in the early-to-mid 19th century. As the capital, Bangkok was the centre of Siam's modernization as it faced pressure from Western powers in the late 19th century. The reigns of Kings Mongkut (Rama IV, 1851–68) and Chulalongkorn (Rama V, 1868–1910) saw the introduction of the steam engine, printing press, rail transport and utilities infrastructure in the city, as well as formal education and healthcare. Bangkok became the centre stage for power struggles between the military and political elite as the country abolished absolute monarchy in 1932. It was subject to Japanese occupation and Allied bombing during World War II, but rapidly grew in the post-war period as a result of United States developmental aid and government-sponsored investment. Bangkok's role as an American military R&R destination boosted its tourism industry as well as firmly establishing it as a sex tourism destination. Disproportionate urban development led to increasing income inequalities and unprecedented migration from rural areas into Bangkok; its population surged from 1.8 to 3 million in the 1960s. Following the United States' withdrawal from Vietnam in 1973, Japanese businesses took over as leaders in investment, and the expansion of export-oriented manufacturing led to growth of the financial market in Bangkok. Rapid growth of the city continued through the 1980s and early 1990s, until it was stalled by the 1997 Asian financial crisis. By then, many public and social issues had emerged, among them the strain on infrastructure reflected in the city's notorious traffic jams. Bangkok's role as the nation's political stage continues to be seen in strings of popular protests, from the student uprisings in 1973 and 1976, anti-military demonstrations in 1992, and successive anti-government demonstrations by the "Yellow Shirt", "Red Shirt" and "Light blue Shirt" movements from 2008 onwards.

Administration of the city was first formalized by King Chulalongkorn in 1906, with the establishment of Monthon Krung Thep Phra Maha Nakhon (มณฑลกรุงเทพพระมหานคร) as a national subdivision. In 1915 the monthon was split into several provinces, the administrative boundaries of which have since further changed. The city in its current form was created in 1972 with the formation of the Bangkok Metropolitan Administration (BMA), following the merger of Phra Nakhon Province on the eastern bank of the Chao Phraya and Thonburi Province on the west during the previous year

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From Wikipedia,

Bangkok

Bangkok is a huge city with several district articles containing sightseeing, restaurant, nightlife and accommodation listings — have a look at each of them.

Bangkok is the capital of Thailand and, with a population of over eleven million inhabitants, by far its largest city. Its high-rise buildings, heavy traffic congestion, intense heat and naughty nightlife may not immediately give you the best impression — but don't let that mislead you. It is one of Asia's most cosmopolitan cities with magnificent temples and palaces, authentic canals, busy markets and a vibrant nightlife that has something for everyone.

For years, it was only a small trading post at the banks of the Chao Phraya River, until King Rama I, the first monarch of the present Chakri dynasty, turned it into the capital of Siam in 1782, after the burning of Ayutthaya by Burmese invaders but they did not take over Ayutthaya. Since then, Bangkok has turned into a national treasure house and functions as Thailand's spiritual, cultural, political, commercial, educational and diplomatic centre.

Districts

Bangkok is a huge and modern city humming with nightlife and fervour. Administratively, it is split up into 50 districts (เขต khet), which are further split into 154 subdistricts (แขวง khwaeng), but these are more often used in official business and for addresses. Visitors will find the conceptual division below of the main areas more useful for getting around.

Bangkok/Siam Square

iam Square (Thai: สยามสแควร์) is Bangkok's main shopping drag and its BTS Skytrain station is often considered as the centre of the city. This article expands the area to include Ratchaprasong, Phloen Chit Road, Hualamphong Train Station and Chulalongkorn University.

While Rattanakosin represents Thailand's history and culture, Siam Square represents Thailand as a newly industrializing economy. Siam Square's first buildings were only constructed in the 1970s, on land of Chulalongkorn University which tried to get some extra rental income for the university. It started with ordinary shops, but has since expanded to a shopping and entertainment mecca that has everything upper-class teenagers and college students could possibly want — luxury shopping malls and glitzy department stores filled with designer labels and hip fashion boutiques.

Despite the name, it is not a square in the traditional sense. It could better be described as a warren of small sois filled with hundreds of tiny boutiques, restaurants, cafés, record stores and bookshops, mostly catering to upper-class 20-something Thais, shopping-spree Malaysians, and working ex-pats. If you're not up for a trip to the Gap or a pink martini, it's still worth a visit just to see the Bangkok-of-the-future. The area north of Rama I Road does feature some kind of courtyard on the second floor, which functions as the entry point for the Siam Center, Siam Discovery and Siam Paragon shopping malls.

Going east on Rama I Road, the shopping experience continues at Ratchaprasong, an area that received worldwide fame when red shirt-wearing political protesters set up their camp here in May 2010. It is home to CentralWorld, the largest shopping mall in Thailand, which was set on fire during these protests, though it was restored within a few months. It gets more quiet as Rama I Road changes its name into Phloen Chit Road in the east. There are some shops and restaurants here, but the area is mostly home to foreign embassies and airline offices.

From Wikipedia,

Thailand

Thailand (ประเทศไทย), officially the Kingdom of Thailand (ราชอาณาจักรไทย) is a country in Southeast Asia with coasts on the Andaman Sea and the Gulf of Thailand. It borders Myanmar (Burma) to the northwest, Laos to the northeast, Cambodia to the southeast and Malaysia to the south.

With great food, a tropical climate, fascinating culture, majestic mountains and great beaches, Thailand is a magnet for travellers around the world.

From Wikipedia,