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The operating performance of businesses across Thailand’s air transport industry is expected to continue improving

The airline industry can look forward to solid rates of growth in 2023-2025. Both domestic and international passenger numbers will rise in step with overall recovery in the tourism sector, while on the freight side of the industry, the volume of cargo moved by air will be boosted by the post-pandemic rebound in economic activity. In addition, price competition would be intensifying amid expenses from business rehabilitation, while costs tend to increase in line with higher energy prices.

Business conditions will slowly improve for airlines over the three years from 2021 to 2023, helped by the rebound in the global economy and world trade. In addition, the increasingly widespread rollout of COVID-19 vaccines will also feed into a steady reopening of national borders, and with an easing of travel restrictions, demand for domestic and international air travel will strengthen. However, the need to step up investments to meet higher health and safety standards that are both being set by the global airline industry and imposed by the changed post-crisis environment will place a heavier financial burden on operators, and carriers that are on a liquidity crunch, operate only a limited number of routes or have a restricted market share will run the risk of facing a cash-flow crunch and of being forced out of business.

The airline industry should see conditions return to their pre-COVID state by 2025, helped by an improving outlook for the global economy,On the domestic front, the Thai economy will benefit from the ongoing rebound in the tourism sector, while the government will help to maintain growth trends by rolling out stimulus measures targeting high-potential consumer groups including long-term residents, the elderly, those traveling in support of their personal wellness, competitors in sports competition

Domestic demand for medical devices has continued to grow through 2025, driven in part by intermittent outbreaks of notifiable diseases and air pollution-related diseases

The Thai electrical appliances industry is predicted to see average annual growth of 2.0-3.0% over the three years

Electrical appliance industry in 2020-2022 is likely to grow slightly. It is expected that domestic demand will grow by 1-2% per year on average.

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