According to the World Bank, over the last four decades, Thailand has made remarkable progress in social and economic development, moving from a low-income to an upper-income country in less than a generation. Thailand has been a widely cited development success story, with sustained strong growth and impressive poverty reduction.
Poverty declined substantially over the last 30 years from 65.2% in 1988 to 9.85% in 2018 (based on official national estimates). However, the growth of household incomes and consumption growth have both stalled nationwide in recent years. Between 2015 and 2018, the poverty rate in Thailand increased from 7.2% to 9.8%, and the absolute number of people living in poverty rose from 4.85 million to more than 6.7 million. The increase in poverty in 2018 was widespread - occurring in all regions and 61 out of 77 provinces.
While Thailand has successfully stemmed the tide of COVID-19 (coronavirus) infections, the economic impact has been severe. It has already led to widespread job losses, affecting middle-class households and the poor alike and threatening hard-won poverty reduction gains.
Economic growth in Thailand will likely contract in 2020, which is among the sharpest projected declines in the East Asia and Pacific region, due to a reduction in external demand affecting trade and tourism, supply chain disruptions, and weakening domestic consumption. The COVID-19 outbreak will likely lead to severe job losses, particularly in tourism, due to transmission control and social distancing measures. The impact on household welfare is also likely to be severe. The number of economically insecure, i.e., those living below $5.5 per day, is projected to double from 4.7 million in Q1 2020 to an estimated 9.7 million in Q2 2020, before recovering slightly to 7.8 million in Q3 2020.
In 2020, CEED together with Vitol Foundation launched the first CEED program in Thailand that aims to support Women Entrepreneurs in the country.
As of 15th of November 2020 Women Entrepreneurs from Thailand can apply to a newly established CEED program in Thailand. The program aims to recruit 30 entrepreneurs within 2 co-horts. First co-hort will start with the Orientation meeting on 18th of December.
If you would like to apply please complete the Application Form.
For more information download the Programme Brochure.
The initial program supported by Vitol foundation will be Gender focused supporting female entrepreneurs, however the vision is to expand the services to support all small & medium size businesses in their growth like in every CEED Center around the world.
By creating a more inclusive business network, CEED believes that all entrepreneurs, will be positively impacted as well as the whole community. CEEDs vision is to create and support the new generation of high growth entrepreneurs’ helping them scale their business locally as well as internationally
About the Vitol Foundation
Founded in 2002, the Vitol Foundation aims to help people fulfil their human potential. To do this they support projects and partners in five development areas: Health, WASH, Education, Enterprise & Livelihoods and Humanitarian Response. It is a grant-making organization that aims to invest in programs that general social and economic returns in a sustainable and scalable way.