Thailand – Country Performance, Brand Strength and Reputation

Thailand, situated in the heart of Southeast Asia, stands out with its diverse economy, driven by robust industries such as tourism, agriculture, and manufacturing. Expatriates are drawn to Thailand’s vibrant lifestyle, characterised by its affordable living costs, exceptional healthcare services, and warm, welcoming communities. Moreover, the country’s thriving tourism sector attracts millions of visitors each year to its picturesque landscapes and cultural treasures.

But what do leading rankings and indices have to say about its economic performance, its soft power and country brand strength, sustainability and reputation?

Let’s take a closer look at:

• Thailand’s soft power and country brand strength
• Its appeal to skilled labour, investors, and visitors
• The country’s global contribution to peace and well-being
• How well it fares in terms of happiness and sustainability

Soft Power and Country Brand Strength

In the Global Soft Power Index 2024 by Brand Finance, Thailand secures the 40^th position, above Mexico (41^st) and Monaco (42^nd). Its position has improved by one from last year’s index.

In the U.S. News Best Countries 2023 ranking, Thailand secures 29^th position, behind Brazil (28^th) and Greece (27^th). Notably, Thailand excels in four key areas: Adventure (5^th), Movers (8^th), Open for Business (9^th), and Heritage (9^th).

Talent Attraction and Competitiveness

The World Economic Forum Global Competitiveness Index 2019 edition placed Thailand at 40^th position among 141 countries. However, it’s important to note that an updated version of this report hasn’t been released in the past five years, and rankings may have shifted since then.

Thailand, classified as an upper-middle-income country within the Eastern, Southeastern Asia, and Oceania regional group, currently holds the 79^th overall position and 11^th regional position in the Global Talent Competitiveness Index 2023. It ranks below 60 in all pillars; the best one is the GROW pillar (61^st), while the ATTRACT pillar presents Thailand’s biggest challenge, where it ranked 92^nd.

In terms of education excellence, Thailand does not have any universities within the top 100 worldwide, according to the World University Rankings 2024. However, Chulalongkorn University features 17^th in the study’s Impact Rankings 2023.

Is Thailand a ‘Good’ Country?

In the Caf World Giving Index 2023, Thailand ranked 38^th, trailing behind Honduras (37^th) and Uzbekistan (36^th). Notably, it performs admirably in the subfactor of donated money, with 63% of the adult population partaking in such activity. Thailand significantly dropped from 12^th position in the Caf World Giving Index 2022.

In the Good Country Index, Thailand currently holds the 56^th overall position, climbing from 63^rd in 2022. It was admirably ranked 13^th in International Peace & Security and 27^th in World Order in last year’s ranking.

Thailand also ranks 104^th in Science & Technology, 56^th in Culture, 116^th in Planet & Climate, 106^th in Prosperity & Equality, and 78^th in Healthy & Wellbeing. The most significant improvement was in International Peace & Security, climbing from 90^th place in 2022.

According to the Economist Intelligence Unit (EIU) Democracy Index 2023, Thailand ranked in the light blue (6-7 range) with a 6.70 out of 10. This is a significantly better score than neighbouring Laos (1.8), Cambodia (3.2), and Myanmar (0.70), and slightly behind Malaysia (7.3).

The 2022 Corruption Perception Index ranks Thailand 101^st, tying with many countries such as Albania, Kazakhstan, Serbia, and Türkiye.

The Sustainable Development Report 2023 ranks Thailand 43^rd. The report highlights that the country still faces significant challenges in certain SDGs (SDG 2: Zero Hunger; SDG 3: Good Health and Well-being; SDG 14: Life Below Water; SDG 15: Life on Land; SDG 16: Peace, Justice, and Strong Institutions), and some SDGs are experiencing a downward trend (SDG 15: Life on Land). The only SDG that has been achieved is SDG 1: No Poverty.

Thailand’s Appeal to Talent, Investors, Visitors

The Expat Insider 2023 ranks Thailand in the TOP 10 countries for expats (6^th position), behind Taiwan (5^th) and Malaysia (4^th).

The country performs well in categories such as Healthcare (9^th), Local Friendliness (8^th), Culture and Welcome (12^th), Finding Friends (12^th), and Personal Finance (4^th). However, it has many categories to improve, such as Environment and Climate (48^th), Safety and Security (45^th), and Work Culture and Satisfaction (46^th). This index shows that Thailand is a welcoming and budget-friendly country to move into. However, the work culture and safety of the country need serious improvement.

The Bloom Consulting biannual Country Brand Ranking Trade Edition 2022-2023 assesses investment-related variables, emphasising perceptions of a country’s trade-specific brand and evaluating branding performance. Regionally, Thailand ranks 10^th, surpassing Vietnam (11^th). Worldwide, it ranks 30^th.

In addition, the Bloom Consulting Country Brand Ranking Tourism Edition 2022-2023 places Thailand in 3^rd position in the Asia Region, dropping by one position since last year’s ranking. It ranks behind Hong Kong (2^nd) and Japan (1^st). Worldwide, Thailand ranks 10^th, behind France (9^th) and surpassing Türkiye (11^th).

In the IMD 2023 World Competitiveness Ranking, Thailand secured the 30^th position, climbing by three positions since 2022. Currently, it sits just behind the United Kingdom (29^th) and South Korea (28^th), while surpassing New Zealand (31^st) and Lithuania (32^nd).

Regarding specific characteristics, Thailand ranked 16^th in economic performance in 2023, improving from 34^th in 2022. Government efficiency ranked 24^th and improved from 31^st position in 2022. Thailand also slightly improved its position for business efficiency from 30^th in 2022 to 23^rd in 2023. Infrastructure in the country ranked 43^rd in 2023, with a slight improvement of one position since 2022.

How Peaceful and Safe?

The Global Peace Index 2023 ranks Thailand 92^nd, climbing by 13 positions since last year’s index. It now sits ahead of Gabon (93^rd) and Georgia (94^th). The country falls in the medium of the ‘State of Peace’ spectrum as defined by the Institute for Economics & Peace. Thailand is positioned 15^th regionally amongst its fellow Asia-Pacific nations, led by New Zealand (1^st) and Singapore (2^nd).

The Institute for Economics & Peace ranks Thailand within the medium zone regarding the ‘Impact of Terrorism’ in the 2024 Global Terrorism Index. It ranks 28^th, behind Uganda (27^th) and ahead of Türkiye (29^th) and USA (30^th).

Meanwhile, the World Happiness Report 2024, which displays the Ranking of Happiness based on a three-year average 2021–2023, ranks Thailand 58^th, behind Paraguay (57^th) and ahead of Malaysia (59^th). It climbed by two positions in 2023 and also ranked 45^th for happiness amongst youth (age below 30) and 41^st for happiness amongst the elderly (age 60 and above).

Environmental Performance

The 2022 Environmental Performance Index (EPI) ranks Thailand 108^th. The EPI analyses the performance of 180 countries, scoring and ranking these countries on their environmental performance using the most recent year of data available, as well as providing calculable changes in scores over the previous decade. Thailand has experienced a positive change in score of 5.80 in the past ten years.

Last updated in June 2024. Explore more country profiles here.

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Disclaimer: The information in this article is intended to provide a general overview of Thailand’s economic and cultural landscape and facilitate comparison over time. While we strive for accuracy and completeness, we are not responsible for any typographical errors or inaccuracies. The data is provided “as is” without warranty of any kind. Users should verify any information before relying on it for decision-making purposes.