
The government, led by the Pheu Thai Party, has undergone two changes of leadership in the past year and faced criticism for its lack of solid economic progress.
While the government introduced policies, they were largely rehashes of similar policies from previous governments.
For 2025, business leaders and economists put forward a wish list, urging the administration to consider measures that could transform the nation's industries and economy, setting them on a more ambitious and sustainable path.

Visitors at the City Pillar Shrine in Bangkok wish for blessings for the New Year. Chanat Katanyu
LOWER AIRFARES
The government should consider imposing a lower aviation fuel tax to reduce air tickets for passengers, while enhancing airlines' competitiveness, said Nathasit Diskul, president of Bangkok Aviation Fuel Services Plc (BAFS).
The Excise Department resumed charging the tax rate of 5.27 baht per litre in 2024, following years of waivers, but this increased fuel costs for airlines by 25%, leading to higher airfares for domestic flights, said ML Nathasit.
Fuel expense normally comprises 30-40% of operating costs in the aviation industry.
"This is why we often hear complaints from passengers that air tickets from Bangkok to Phuket are more expensive than those from Bangkok to Singapore or Hong Kong," he said.
The tax collection caused low-cost airlines from neighbouring countries that fly to Thailand to avoid refuelling at Thai airports.
Instead, they adopted jet fuel tankering, carrying more fuel than necessary for their flights.
For example, a Ho Chi Minh City to Chiang Mai flight will fly to Chiang Mai via Suvarnabhumi airport and return to Ho Chi Minh City without refuelling.
These airlines have a competitive advantage over Thailand-based airlines that are subject to the tax, said ML Nathasit.
He said the aviation fuel tax is partially based on a perception that air travel is an extravagant expense, but many people prefer low-cost airlines because they are cheaper or faster than spending several hours on trains or driving.
BAFS, which offers services at Don Mueang, Suvarnabhumi, Samui, Trat and Sukhothai airports, is trying to maintain its service fees to avoid increasing the financial burden on passengers, said ML Nathasit.
E-COMMERCE COMMITTEE
Kulthirath Pakawachkrilers, president of the Thai E-Commerce Association, said the government should resurrect the National E-Commerce Committee, started by the previous government, to craft a holistic view of policy and strategy, facilitating work with multiple agencies.
The government should also extend its "Easy E-Receipt" scheme to cover goods purchased via live commerce, she said.
The cabinet recently approved the Easy E-Receipt programme to deduct eligible purchases from personal income tax in the 2026 tax filing period.
Ms Kulthirath said the government should also promote facilitation of loan approvals for e-commerce merchants.
In addition, she said a tax rebate or subsidy should be granted for freight forward businesses to stimulate exports by small and medium-sized enterprises (SMEs).
The association would like the administration to promote a student exchange in the fields of digital trade, live commerce and e-commerce between Thailand and strategic countries such as Singapore, China, Vietnam and Indonesia.
The government can provide scholarships to students in the exchange programme, according to the association.

Fireworks celebration during the Amazing Thailand Countdown 2025, featuring Wat Arun as a backdrop. Business leaders and economists want more efficient measures to deal with economic uncertainties this year.
STOP CASH GIVEAWAYS
Aat Pisanwanich, an independent economics analyst and the founder of Intelligence Research Consultant Co, said the government should stop handing out money because the results are not worth the budget spent.
He also wants the government to protect Thai SMEs from the flood of cheap Chinese goods, as current measures are insufficient.
Enforcement of strict quality control for products needs to be strengthened, as it has been lax in the past, said Mr Aat.
Thailand's approach to cheap products sold online is clearly different from countries such as Indonesia or India, he said. For example, Indonesia imposes a 200% tax on online products, while the Indian government banned Chinese apps from operating in the country.
Mr Aat projected 20,000 to 30,000 Thai SMEs shuttered last year, with another 50,000 to 100,000 expected to close in 2025 as the deluge of Chinese goods into Thailand continues, especially if US president-elect Donald Trump raises tariffs on Chinese products.
He prefers large government investment projects that will benefit the Thai economy in the future, such as agricultural product processing schemes that add value to local crops.
In addition, the development of Thai workers' potential should align with economic development, modern innovations and technologies, said Mr Aat.
Over the past year, he said the government has not implemented any concrete projects for the country's economic development, instead mostly handing out money to people, which uses a lot of state budget but has minimal impact.
Meanwhile, Thailand's structural problems remain unresolved, said Mr Aat.
"Over the past 20 years, Thailand has embraced several populist schemes, leading to an increase in government debt," he said.
"The government should instead allocate budget to develop new projects that will create jobs."
BROADER STIMULUS
Bualuang Securities (BLS) called for broader economic stimulus in 2025 beyond cash handouts.
Chaiyaporn Nompitakcharoen, managing director of research at BLS, emphasised the need for more comprehensive economic stimulus measures from the government.
While current initiatives such as cash handouts and data centre investments are steps in the right direction, Mr Chaiyaporn outlined several additional strategies to foster sustainable growth.
Increasing solar cell installation for public use is one recommendation.
"High electricity costs remain a burden for Thai households," he said.
"Supporting widespread solar cell installation could alleviate this issue and promote renewable energy adoption."
The government should also provide funding resources for SMEs focused on innovation, said Mr Chaiyaporn.
"Providing government-backed funding sources for SMEs to invest in environment, social and governance-aligned innovations would not only drive economic growth, but also align Thailand with global sustainability trends," he said.
In addition, Thailand needs to liberalise key economic sectors and industries, particularly those tied to community products such as beverages, said Mr Chaiyaporn.
Allowing more freedom in this sector could lead to diverse, locally-produced options such as sake, whiskey, beer and white wine, similar to international markets, he said.
This would not only create new revenue streams for communities, but also increase provincial tourism and economic dispersion, said Mr Chaiyaporn.
"These initiatives represent opportunities for Thailand to stimulate its economy in a sustainable and inclusive manner, aligned with global trends," he said.

A jet's fuel tank is refilled by BAFS. The company wants a lower jet fuel tax rate to encourage lower airfares.
EASE HOUSEHOLD EXPENSES
Pun Paniangvait, general manager at Thai President Foods Plc, the manufacturer of Mama instant noodles, said the government should address people's living costs, particularly for essential goods, exploring measures to control household expenses.
He anticipates the Thai household debt-to-GDP ratio will stay elevated in 2025, limiting consumer purchasing power.
While a planned hike in the daily minimum wage offers some relief, many people may prioritise debt repayment over increased spending, said Mr Pun.
"Although an increased minimum wage will ease the financial pressure for people, it might be insufficient to increase their purchasing power due to their existing expenses," he said.
Mr Pun supports the government and the Thai Bankers' Association holding discussions to find viable solutions to these issues, which said are crucial.
Meanwhile, he said the private sector wants a more stable baht, allowing companies to manage currency-related costs.
"The baht is currently not fluctuating as much against other currencies. We appreciate the authorities' efforts on this matter," said Mr Pun.
In terms of stimulus plans, he proposed the government should expedite them while listening to all stakeholders involved. This means the government should ensure all stakeholders have adequate time to prepare for potential changes, said Mr Pun.
"The private sector faces numerous uncontrollable external factors," he said.
"We would like more predictability and manageable circumstances. We don't want additional uncontrollable factors from the government."
LIFTING PICKUP SALES
The government should establish a 5-billion-baht fund to increase consumer auto loans in the pickup segment, which should eventually improve state coffers, said Surapong Paisitpatanapong, vice-chairman of the Federation of Thai Industries (FTI) and spokesman for its Automotive Industry Club.
The fund was proposed to Prime Minister Paetongtarn Shinawatra late last year by the Joint Standing Committee on Commerce, Industry and Banking to deal with sluggish domestic car sales, caused by difficulties in accessing auto loans.
Banks and car financing companies have tightened lending criteria in the automotive sector based on predicted non-performing loans due to the high level of household debt.
A plunge in pickup sales caused manufacturers to reduce pickup manufacturing by 200,000 units over the past two years, dealing a blow to auto parts makers, said Mr Surapong.
Pickup assembly utilises 80-90% of the total auto parts in the market.
"This fund should cause bankers to grant more loans to pickup buyers," he said.
"It is expected to increase pickup manufacturing by at least 100,000 units, bringing more income to workers."
The drop in pickup production caused parts manufacturers to reduce work shifts for several months, resulting in workers receiving only 75% of their wages, said Mr Surapong.
If pickup manufacturing is increased, parts makers along the supply chain can sell more products, while the government will collect more excise and value-added taxes from higher pickup sales.
"We believe authorities can eventually generate more revenue than the 5 billion baht allotted for the fund," he said.
A state measure to cope with the slowdown in the car market is necessary because the automotive industry contributes 30% of the country's GDP, said the FTI.
Workers in the automotive industry represent 16% of the total workforce in the Thai manufacturing sector.
NEW TOURISM HOPE
The government should review existing international promotions to feature new tourism goods and services with unique characteristics, allowing improved targeting of high-spending tourists, said Loy Joon How, general manager of Impact Exhibition Management, the operator of Impact Exhibition and Convention Center, Muang Thong Thani.
He said the government should also improve air quality, traffic and security, as well as develop the tourism workforce through education and upskilling programmes.
Potential negative tourism factors include a global economic downturn, geopolitical conflicts and decreased local expenditure, said Mr Loy.
He said the government should intensify its efforts to stimulate tourism and economic growth amid a sluggish economic outlook this year.
Other areas of emphasis should include installing preventive measures against Thailand developing a negative reputation on social media based on posts.
Nuntaporn Komonsittivate, head of commercial at Thai Lion Air, said the government should prioritise improving the tourism experience at airports and in the country, as most visitors are independent tourists.
The current visa-free initiatives should continue in 2025 to entice visitors, she said.
Plans to build new airports should be accelerated, such as second airports for Phuket and Chiang Mai, as well as an upgrade at Hua Hin Airport to cater to international flights, said Mrs Nuntaporn.
For airlines, the aircraft approval process by the Transport Ministry was already improved and the ministry should maintain this quality this year, she said.
The government pledged to increase tourism in second-tier cities and it should conduct in-depth studies of these destinations to highlight their unique qualities, which would facilitate airlines offering new routes, said Mrs Nuntaporn.