New growth pillars include green manufacturing, agribusiness, wellness, digital services and creative economy
Thailand must fast-track its economic transformation by building five new growth pillars to achieve high-income status, says a senior World Bank officer.
Melinda Good, division director for Thailand and Myanmar, urged the country to shift toward future industries and accelerate reforms to strengthen competitiveness and long-term prosperity.
Speaking on Friday at the Bangkok Post Economic Forum 2025, she said Thailand now stands at a pivotal moment, with GDP growth stuck near 2% in 2025 — far below the 5% needed to reach high-income status by 2037.
To become a high-income nation, she said, Thailand must accelerate economic restructuring and align itself with global shifts in technology, trade and the climate transition.
“All disruption comes with opportunities,” she noted.
According to her, the World Bank has identified five future industries that can serve as Thailand’s new growth pillars: green and advanced manufacturing, agribusiness, sustainable and health tourism, digital services, and the creative economy.
“These sectors are not merely opportunities, they are necessities for Thailand’s next chapter of growth,” she said.
Key enablers include spurring investment, innovation and trade, investing in Thailand’s future workforce and building Thailand’s cities of the future.
“Thailand already possesses strong foundations, including a robust manufacturing base, rich cultural assets and emerging technological capabilities,” Ms Good said.
“Yet what remains missing is the connective tissue — clear policy alignment, deeper collaboration across sectors and rapid upskilling of people.”
To move forward, she said urgent investments are needed in clean energy, research and development and modern skills training.
Short-course programmes offering micro-credentials can help workers quickly transition into high-demand areas such as AI, EVs, solar, wellness, food innovation and film production, Ms Good said.
She added that the World Bank is encouraging the development of low-carbon model cities to demonstrate practical change.
These model cities, she said, can become catalysts for innovation, investment and long-term sustainability.
“Future industries need future-ready cities,” she noted.
“It’s not only Bangkok. Khon Kaen, Chiang Mai, Hat Yai, Phuket, Ubon Ratchathani and Udon Thani can all become engines of growth if they build the right ecosystem,” she said.
“Winning cities will offer practical, employer-anchored training, clean and reliable power, efficient transport, predictable permitting, vibrant places to live and create and fast digital connectivity.”
With the IMF-World Bank Annual Meetings coming to Bangkok in 2026 — the first time in more than three decades — Ms Good said Thailand has a unique window to showcase its ambition.
By acting decisively today, Thailand can secure a more prosperous, resilient and inclusive future, she said.
According to Ms Good, the upcoming global economic gatherings will serve as “the Olympics of the economy”, a rare chance for Thailand to demonstrate its future direction to the world.
She emphasised that achieving the country’s ambitions will require both people and places that are ready for the industries of tomorrow.