McKinsey strategist maps the path to Thailand’s economic future

Thailand should pivot strategically towards high-growth industries to compete in “arenas of competition” in the digital economy, McKinsey strategist Chris Bradley said in offering a compelling vision for Thailand’s economic future.

He was speaking at MFC Asset Management’s 50th anniversary celebration in Bangkok on Friday evening.

Bradley, reflecting on Thailand’s remarkable economic journey since 1975, noted that the country has transformed from a rural economy with 60% of its population living below the poverty line to a nation with seven times higher GDP per capita and poverty had reduced to below 6%. However, he warned that Thailand now faces new challenges that require a strategic shift in its industrial focus.

“Growth will no longer come from urban development, capitalists, traditional industries, and consumer spending. Thailand must build new strengths to…