PRIME Minister Prayut Chan-o-cha is pleased with the news of Thailand being ranked one of the top 10 Best Countries to Invest in 2018, saying this year the country’s economy is starting to takeoff and the country is ready to join hands with other Asean countries to move forward together.
The ranking, recently published by a Washington D.C.-based magazine US News and World Report, came as a result of the study of a total of 80 countries across 75 metrics. It was done in partnership with global marketing and communications firm BAV Group and the University of Pennsylvania’s Wharton School.
The top ten are Philippines, Indonesia, Poland, Malaysia, Singapore, Australia, Spain, Thailand, India and Oman.
To qualify as a country worthy of investment, certain standards must be met with highlighted four factors being the country’s people, environment, relationships, and framework that propel both individuals and corporations to invest in a given country’s natural resources, markets, technologies, or brands.
To determine the overall list, U.S. News surveyed over 21,000 people worldwide about 80 different countries.
For the best countries to invest in ranking, U.S. News focused on just eight of the 65 attributes: entrepreneurship, economic stability, favorable tax environment, innovation, skilled labor, technological expertise, dynamism, and corruption.
Responses from over 6,000 survey participants — who act as decision makers in business around the globe — were then used to determine the ranking.
The US News also ranked Thailand the 27th in its Best Countries Overall 2018.
It describes Thailand, which translates to “land of the free,” as the only Southeast Asian nation that did not encounter European colonization.
Originally known as Siam, the Kingdom was unified in the mid-14th century and became a constitutional monarchy in 1932 after a nonviolent revolution. Recurring coups have since escalated into large-scale political turmoil spurred by party