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The Digital Workforce: Powering Business Transformation

AI-driven Pricing: A Paradigm Shift for Business

The hotel business will enjoy a steadily improving outlook over the next three years. However, recovery will remain only sluggish through 2022 given the limited number of tourist arrivals, and in particular the continuing depressed state of the Chinese market, where the government is still strictly implementing Zero-COVID policy. In addition, the global economy is facing significant headwinds as a result of the outbreak of Russia-Ukraine war, and this too is weighing on the industry. Nevertheless, the number of foreign arrivals should build at an accelerating rate through 2023 and 2024, and by 2025, the industry is expected to return to its pre-COVID level of 38-40 million arrivals annually.

The Fourth Industrial Revolution is precipitating enormous changes in the world of business, and financial institutions will not escape these rising challenges. As they become increasingly driven by technology and innovation, payment systems worldwide including in Thailand, will become more and more dependent on electronic payments, and this will drive banks to shift their operations to a ‘platform business model’. Through this period, financial institutions that are major providers of payment services will find themselves in an ever more unstable position, with the foundations of their business being undermined by new players entering the market as suppliers of platform services, and so to preserve competitiveness, banks are being forced to transform their businesses and to shift as rapidly as possible from their older models of business organization to one in which they too are platform businesses.

The Thai hotel industry is expected to continue expanding over 2026-2028, supported by a gradual recovery in international tourist arrivals,

The hotel industry will continue to see improving conditions over 2024 to 2026, helped by ongoing government support for the industry and the annual foreign arrivals returning close to their pre-pandemic level of 38-40 million by 2025. Meanwhile, domestic tourists are also expected to be making 200 million trips annually by 2025

The road transport industry can expect to see average annual growth of 2.0-3.0% over 2024 to 2026. Demand for transport services will be boosted by the gradual improvement in the outlook for investment, manufacturing and trade, as well as ongoing growth in the tourism sector.

In Thailand’s current context, investment in rooftop solar systems is not merely a rational economic decision but also a forward-looking commitment to sustainability.

Business opportunities in the Philippines are ample despite some structural challenges

During 2019-2021, the construction business is likely to grow at an accelerated rate in 2019