Thai economy effect on Pattaya property- by Tourasian:

This is positive for Pattaya property market and not only, as many of these industries will have local and foreigner families leaving in the area we should rent /sale many Pattaya property then?

The fast-changing global economic impact negatively Thailand economy, therefore push the government to lift some foreign equity ownership restrictions that are among the most stringent in the world. New strategies are crucial to the future of Thailand.

The incentive (s) offer on the hope to attract new foreign investments (EC) in high-tech industries as reach the country aims to become the ASEAN hub of high tech sectors.

Specific high-tech industries targeted by the government incentive are next generation automobiles (electric cars), smart electronics, affluent medical, aviation, biochemical, biofuel, agriculture processing industries, biotechnology, food processing ‘’ called as “Digital food, robotics’’, digital sector, logistics, and … wellness tourism

Should you buy a Pattaya house now or sell it?

It look a good idea, , but first of all a competent workforce is demanded in order to give investors a real incentive and to make those ambitious investment targets realistic.

Instead, recent Program for International Student Assessment (PISA) rank Thailand’s performance at the bottom of Asia and Many reports of Economic senior experts have pointed out that Thailand needs human capital development to catch up with new global economic trends..

Thai government effort has not received the return expected on its investment in education as they need to implement a clear and coherent curriculum to focus on building capacity, implement assessment procedures and standardized tests at all levels of the education system.

Successful reform are necessary to ensure Thailand does not fall despite political uncertainty, the challenges of a shrinking working-age population and slow GDP growth compared to many of neighbor’s in the ASEAN Economic Community behind other countries in this dynamic region. Providing efficiency in high-quality education system provide skilled human resources that are crucial for any industries and drives social and economic development.

Wait for high tech industries to sale /rent your Pattaya house?

Human resources and competency are the common weak point shared between industries today but more specifically the high tech industries where Technologies come out with a new product generation every 12 to 18 months. In fact, To complement an investment in technology these industries need to augment the skill of their workforce. When product generations are short, there is not necessarily time to develop the necessary skills for the next generation in-house, so these companies benefit from hiring skills from the external labor market.

If there is no enough competencies available in the country, would these high tech industries be able to support on top of their investment the financial impact generate by the human resources logistic and local balance by foreigner and reach the country aims to become the ASEAN hub of high tech sectors?

Pattaya property is going to

Other industries operating in market places with less product change for instance, companies that manufacture automotive chips which often last four or five years before a new generation makes them obsolete it becomes feasible to develop talent in-house in preparation for the next product generation but high competency skilled human resources is obviously also crucial for any firm/industries. Just have look in touristic industries in Phuket who are desperate and crying for years to get sufficient and competent workforce may give an idea of what reform is requested to create positive economy.

Actual drop in foreign investment, drop in touristic industries, drop exportation, drop GDP, even Chinese property market buyer drop etc. … Ok, make it be simple… Thai economy drops down enough to worry everyone, politics, business, population and ASEAN community in general.

So is it the good time to buy or sale your Pattaya house on this period of transition? Is it not why Pattaya property market drops down too!!?