Thailand's economic policy, which focuses on high-tech manufacturing and expansion of trade, combined with increased foreign capital inflows, will support accelerated growth in air services, the report said. Frost & Sullivan estimates that Thailand's logistics industry earned revenue of $71.7bn in 2014 and the consultants believe it will reach $96.5n by 2019.
Thailand is part of the 10-member Association of Southeast Asian Nations (ASEAN), which also includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore and Vietnam. Frost & Sullivan found that the formation of ASEAN in 1967 and the impact of various free-market agreements on key manufacturing sectors outside the region are shaping Thailand’s logistics landscape.
Timely, incisive articles delivered directly to your inbox.