World Giving Index Rank
2017- 68%giving money
- 19%volunteering time
- 51%helping a stranger
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Thailand’s social economy is relatively nascent but well-supported by the government, a rich tradition of religious giving and a proactive corporate sector
Thailand is one of the world’s few economic development success stories in the last 40 years, having risen from low-income to upper-middle-income status in less than a generation. Despite the passing of the long-ruling and deeply revered King Bhumibol Adulyadej in 2016 and ensuing political uncertainty, Thailand’s GDP grew 3.9% in 2017 – the fastest growth rate in 5 years. Abundant natural resources, a skilled labour force, openness to trade and a well-defined investment policy framework are factors that make Thailand an attractive investment destination.
Notwithstanding its impressive growth trajectory, the high Gini coefficient of 0.465 is a testament to entrenched income inequality in Thailand. Over 80% of the 7 million poor live in rural areas while another 6.7 million are vulnerable to falling back into poverty. Thailand’s rapidly ageing population and increasing environmental degradation are other key development challenges.
Thailand’s social economy is relatively nascent but well supported by the government with a rich tradition of religious giving and an active corporate sector. Giving is ingrained in the Thai culture and charitable donations, though ad hoc and sporadic, are considerable. The corporate sector has been proactive in meeting environmental, social and governance (ESG) standards. However, the impact investment volume in Thailand still trails behind neighbouring Southeast Asian countries such as Indonesia, the Philippines, Vietnam and Cambodia. The Social Enterprises Promotion Act, passed in February 2019, reaffirms the country’s commitment to the social economy.
Source: : ADB, Charities Aid Foundation, Credit Suisse, World Economic Forum, World Bank. Figures are accurate as of March 2019
Source: sdgindex.org (2018)
Note: The "traffic light" colour scheme (green,yellow, orange, red) illustrates how far a market is from achieving a particular goal
Impact Area | SDG Goals | Gap | Government Initiatives |
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Agriculture |
SDG Goals |
Gap
|
Government Initiatives
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Climate action |
SDG Goals |
Gap
|
Government Initiatives
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Education and employability |
SDG Goals |
Gap
|
Government Initiatives
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Energy access |
SDG Goals |
Gap
|
Government Initiatives
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Health care |
SDG Goals |
Gap
|
Government Initiatives
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MSME development |
SDG Goals |
Gap
|
Government Initiatives
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Poverty alleviation |
SDG Goals |
Gap
|
Government Initiatives
|
Social protection |
SDG Goals |
Gap
|
Government Initiatives
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ChangeFusion implemented solutions to locate and to pave the way for social enterprises thus elevating the entire Thai social enterprise eco-system.
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Social Economy
Thailand’s social economy is relatively nascent but well-supported by the government, a rich tradition of religious giving and a proactive corporate sector
Factor
Presence, size, and maturity of SEsFactor
SEs' sectoral presenceFactor
Philanthropic contributionsFactor
Managed fundsFactor
Corporate sectorFactor
Policy environmentFactor
Incubators, accelerators, and capacity-buildersFactor
Networks and platformsFactor
Knowledge and researchFactor
Partnerships