Business opportunities amid the COVID-19 Pandemic
All Trend Insight Report
Telemedicine: a new health care solution in the post-COVID world
5 strategies to encourage digital trade in the post-COVID world
Mr. Somdet Susomboon,
Director General of the Department of International
Trade Promotion (DITP), Ministry of Commerce
The COVID-19 pandemic doesn’t only affect people’s lives and health, it also has a great impact on the lifestyles of humans across the world. Economic activities have been halted, and significant economic impact is expected, both locally and globally. Most countries are not only facing a decrease in GDP (expected to be negative), but are also in need of new economic structures. This is also the case for Thailand. We need to figure out the ways to drive the economy in the post-COVID world.
With the open economy system, more than 70% of Thailand’s GDP relies on exports and around 20% on tourism. This kind of structure is definitely challenged by the post-COVID world. In the long term, Thailand’s exportation of products like electronic devices, automobile parts and aeronautical accessories tends to decrease as the global economy braces for impact. Adapting for survival might be one of the most important strategies so far. As the COVID-19 situation seems to improve, many countries have eased the lockdown restrictions to boost up economic activities. To prepare Thai entrepreneurs to be ready for the economic recovery, this issue of THINK TRADE THINK DITP is filled with economic insights and analysis along with the all-round information on export opportunities that could be of great use.
Entrepreneurs are recommended to closely follow updates and implement long-term strategies for businesses to be ready for changes that can happen any time in the global market, and for the new normal lifestyle that can change some businesses forever.