Time for a Rethink
The recent challenges faced by Thailand included not only the Covid-19 pandemic and the ensuing lockdowns, but the supply chain ‘nightmare’ which contributed to dislocations and disruptions to shipping and trade, impacting consumers through shortages and higher prices. In facing successive pandemic waves and these knock-on economic effects, Thailand has done comparatively well through its cautious but responsive approach considering the impacts to its tourism sector, which plays such an important role in its economy. With the country already facing an uptick in tourists having loosened restrictions and reopened on May 1, visitors will also include business travellers as companies focus on bouncing back stronger, in addition to re-evaluating their operations. The new normal has many businesses around the world looking to avoid dependency and considering diversifying their operations geographically.
