Thailand Infrastructure Report Q2 2016 - New Market Study Published

From: Fast Market Research, Inc.
Published: Tue Mar 29 2016

Political risks will remain a hindrance to construction activity in Thailand over the long term following the military government's rejection of the draft constitution, which underscores the country's uncertain political outlook. With the junta expected to remain in power until 2017, large - scale public transport infrastructure projects are expected to benefit, driving construction activity over the near term.

Latest Updates And Structural Trends

Thailand's construction sector expanded 15.7% in 2015, reaching an overall value of nearly USD11bn. The sector's growth was inflated by the low base effects from 2014 and we expect the real growth rates to moderate to 4.3% in 2016 and 3.2% in 2017.

Continued investment in Thailand's airport sector will be underpinned by the rise in regional passenger traffic, increasing popularity of Thailand as a destination for medical tourism as well as high utilisation rates of existing airports. Construction of supporting road and rail infrastructure will also bode well for the country's development as a logistics hub, providing upside to freight transport by air.

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In late 2015, a THB1.8trn (USD50.3bn) transport plan was approved by the Thai cabinet. The plan comprises investment in 20 transport projects formulated by transport ministry to boost the economy.

Risk/Reward Index

Thailand's overall score remains unchanged from the previous quarter, but the country has moved up by three positions to 11 th place due to the deteriorating regional outlook.

The growth surge and near-term political stability has been a boon for public construction projects, which led to a significant increase in its Industry Reward score over the last few quarters.

Despite the uncertainty surrounding the Thai military junta's political reform proposals, economic reforms are heating up, from energy price liberalisation to cleaning up public procurement to the long overdue reforms of state-owned enterprises. Progress in economic and institutional reforms could raise the country's otherwise unimpressive Country Risks score over the next few quarters.

The Thailand Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Thailand Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Thai infrastructure and construction industry.

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