Thailand seeks to become high-income nation by 2036

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Thailand’s Prime Minister Prayut Chan-o-cha on the sidelines of the 74th Session of the United Nations General Assembly on September 25 attracted attention from his fellow citizens with remarks that Thailand would become a high-income country by 2036 “with fairness, respect for basic human rights, and participation of all sectors of society.”

Apart from giving the notion that he apparently acknowledged that the above mentioned last three factors are currently not in place, he did not outline why it would take, of all things, exactly 17 years to reach the goal.

He, however, went on saying that the Thai government has spent the last five years “paving the way for all Thai people to share equally in the fruits of the country’s development, with none being left behind.”

The World Bank currently defines a high-income country as one that has a (nominal) gross national income (GNI) per capital exceeding $12,056.

The gross national income is calculated by adding gross domestic product to factor incomes from foreign residents, then subtracting income earned by nonresidents. Both developed and developing countries may be classified as high-income countries.

In 2019, there are 81 countries and territories classified by the World Bank as high-income countries.

In 2018, Thailand was ranked in the upper-middle-income group of the World Bank and had a GNI of $6,610, less than Cuba, Equatorial Guinea and Turkmenistan, to name a few developing nations.

Within Southeast Asia, Thailand comes fourth behind Singapore (GNI=$58,770), Brunei ($31,020) and Malaysia ($10,460). Malaysia aims to reach high-income status by 2024.

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Thailand’s Prime Minister Prayut Chan-o-cha on the sidelines of the 74th Session of the United Nations General Assembly on September 25 attracted attention from his fellow citizens with remarks that Thailand would become a high-income country by 2036 "with fairness, respect for basic human rights, and participation of all sectors of society." Apart from giving the notion that he apparently acknowledged that the above mentioned last three factors are currently not in place, he did not outline why it would take, of all things, exactly 17 years to reach the goal. He, however, went on saying that the Thai government...

Reading Time: 1 minute

Auto Draft

Thailand’s Prime Minister Prayut Chan-o-cha on the sidelines of the 74th Session of the United Nations General Assembly on September 25 attracted attention from his fellow citizens with remarks that Thailand would become a high-income country by 2036 “with fairness, respect for basic human rights, and participation of all sectors of society.”

Apart from giving the notion that he apparently acknowledged that the above mentioned last three factors are currently not in place, he did not outline why it would take, of all things, exactly 17 years to reach the goal.

He, however, went on saying that the Thai government has spent the last five years “paving the way for all Thai people to share equally in the fruits of the country’s development, with none being left behind.”

The World Bank currently defines a high-income country as one that has a (nominal) gross national income (GNI) per capital exceeding $12,056.

The gross national income is calculated by adding gross domestic product to factor incomes from foreign residents, then subtracting income earned by nonresidents. Both developed and developing countries may be classified as high-income countries.

In 2019, there are 81 countries and territories classified by the World Bank as high-income countries.

In 2018, Thailand was ranked in the upper-middle-income group of the World Bank and had a GNI of $6,610, less than Cuba, Equatorial Guinea and Turkmenistan, to name a few developing nations.

Within Southeast Asia, Thailand comes fourth behind Singapore (GNI=$58,770), Brunei ($31,020) and Malaysia ($10,460). Malaysia aims to reach high-income status by 2024.

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