Health care, automobiles and food and beverages are all set to become more important "sunrise industries", while textiles will likely become less important in Thailand.
Survey: Health care likely to prosper by Phusadee Arunmas
Health care and medical services have the brightest prospects for growth next year, according to the survey of the University of the Thai Chamber of Commerce (UTCC).
Their growth will be supported by continuing health concerns among people and the standards of Thai medical services, particularly hospitals recognised by foreign patients for their treatment and affordable cost.
Medical services top the 10 "sunrise" businesses listed by 4,000 members of the chamber in the recent opinion poll, said Wachira Khuntaweetep, an economist in UTCC's Economic and Business Forecasting Center.
He said the survey was based on economic growth of 4-5%, 8.5% investment expansion, 4.2% growth in private consumption, a 10% rise in exports, 5.2% growth in the industry sector, and 2.7% farm growth.
An expected rise in fuel prices next year will accelerate the growth of liquefied petroleum gas (LPG) and natural gas for vehicles (NGV) service stations as well as other alternative fuels. Rubber and rubber products should flourish thanks to high demand for vehicle tyres.
Next year's general election would give a boost to the printing and paper industries, while the increase in gold speculation would benefit gold shops, the survey said.
Mr Wachira said the poll found there were certain groups of industries that are expected to show slower expansion next year, notably contractors for housing and condominiums due to the large volume of unoccupied units. Condominiums without convenient access to a mass transit system would not perform well, he added.
Large contractors should have healthy operations thanks to public sector projects.
Some sunset industries include textiles and related industries such as weaving and dyeing, which have been slow for years due to stiff competition from other Asian countries, especially China, Vietnam, and Bangladesh.
(Source: Bangkok Post, GROWTH: Survey: Health care likely to prosper, 17/12/2010, Phusadee Arunmas, link)
sunrise industries - a new industry that is growing fast and is expected to become more important in the future (See Wikipedia)
sunset industries - an industry in decline that has passed its peak or boom period (See Wikipedia)
prosper - doing well, being sucessful, being happy and healthy เจริญก้าวหน้า
services - บริการต่างๆ things produced in service industries, not a physical good that can be bought, a waitress and a cook in a restaurant provide a service, technically: a sequence of activities that does not result in ownership of the outcome (See Wikipedia on services and the goods and services continuum)
prospects - the possibility that things will happen, especially something good ความเป็นไปได้ (See glossary)
survey - gathering information about what people think about different subjects (public opinion) by asking large numbers of people questions and counting their answers, and then using statistics, graphs, and tables to present results (See Wikipedia)
chamber of commerce - a network of local business people that pursues the following goals: 1. promotion of trade in their local area, 2. pushing for local regulations that support business, 3. collecting useful information and statistics, 4. settlement of disputes between members by means of arbitration, 5. advocating for business friendly policies at the state, local, federal, and international levels (See Wikipedia)
concerns - worries ความกังวล
standards - an acceptable level of quality or achievement มาตรฐาน
recognised - to accept something or someone as important
treatment - the process of providing medical care การรักษา
affordable - not too expensive, so you are able to buy it with the money you have ไม่แพง
opinion poll - an occasion when a lot of people are asked about what they feel about something
forecasting - when experts say what they think will happen in the future
investment - taking your money and putting it into projects to make a profit or earn interest (buying stock shares, bonds, real estate)
expansion - when something increases in size, number or importance การขยายออก
consumption - money spent by households and families on goods and services (See Wikipedia) การบริโภค
sector - a part of the economy (public sector = government, private sector = all businesses, household sector = families and consumers, banking sector,...) (See Wikipedia) ภาคเศรษฐกิจของประเทศ
expected - believe will happen คาดว่า (จะเกิดขึ้น)
accelerate - to cause to happen more quickly เร่ง
vehicles - machines with an engine used to carry people or goods from place to place ยานพาหนะ
LPG [Liquefied Petroleum Gas] - a gasoline substitute, less common worldwide than CNG below, but more popular in Thailand because of cheaper vehicle conversion costs (See Wikipedia)
Compressed Natural Gas (CNG) - a substitute for gasoline, diesel, or propane fuel, more environmentally clean alternative and safer in the event of a fuel spill, natural gas is lighter than air, so it disperses quickly when leaked or spilled, used especially by taxis, buses, and trucks (See Wikipedia)
Natural Gas Vehicles (NGV) - a car that uses either compressed natural gas, or less commonly liquified natural gas, vehicles are popular in Argentina, Brazil, Iran, Pakistan, Italy, Germany, Malaysia, and Thailand, especially popular in taxis to cut fuel costs (See Wikipedia)
service stations - gas stations, petrol stations (businesses on the side of the road where people fill up their vehicles with gasoline or natural gas)
alternative - another choice, something that is different from something else, especially from what is usual, and offering the possibility of choice ตัวเลือก / ทางเลือก
rubber - a material that can undergo elastic deformation under stress and return to its previous size without permanent deformation
flourish - to grow or develop successfully เจริญรุ่งเรือง to grow well and be healthy ผลิดอกออกผล
demand - the need and desire to buy goods and services by households and businesses
election - the process of choosing a person or a group of person for a position, especially by voting elect (v) electoral (adj) synonym: the polls การเลือกตั้ง
boost - to increase; to strengthen เพิ่ม; ทำให้มีกำลังมากขึ้น
boost - to strengthen ทำให้มีกำลังมากขึ้น
speculation - buying an asset hoping that its price will go up and you will make money, it could go down with a loss of money, assuming the risk of loss in return for the uncertain possibility of a reward (See Wikipedia)
benefit - to get help or an advantage from something ผลประโยชน์
contractors - companies that do building and construction บริษัทผู้รับเหมา
volume - the quantity or amount of something
occupy - when people are inside and using real estate (building, office, apartment, home), not empty
unoccupied units - real estate that is empty
convenient - an easy way to do something
access - the ability to enter a building or place การเข้าสู่
mass - large numbers จำนวนมหาศาล
transit - the act of moving from one place to another การเดินทางผ่าน
mass transit system - a system or buses, trains etc that large numbers of people use to move around a city or a region of a country
textiles - fabric made by weaving or knitting (See Wikipedia)
weaving - taking yarns or threads and interlacing them together to form a fabric or cloth (See Wikipedia)
dyeing - giving colour to some piece of clothing or textile (yarn, cloth) (See Wikipedia)
stiff competition - very strong and intense competition