Premium Essay

Why Is International Important to Thailand

In: Business and Management

Submitted By porpy
Words 490
Pages 2
Why is international trade important to Thailand and how do global events impact on global trade?

International trade has played an important role to the economy in globalization. Nowsaday, many countries are interested in international business in order to get competitive advantage and can be survive in highly competitive world. They want to enlarge their market to other countries and can get lots of benefits such as seeking the lowest cost, avoiding transportation cost and trade teriffs.

Why international trade is important to Thailand? There are 2 mains factors. First, different resources of production.The specific physical geography of Thailand is one of restrictions to produce some goods while natural features facilitate Thailand to has more capability to produce argricultural products and food such as rice, rubber, fruit, vegetables, seafood etc. In contrast, other countries have another type of resources and they can produce some goods at lower cost, for examples, The Middle East countries have petrolium energy and mining industry that Thailand has to import from them.

Second, different knowledge skills and technologies. For example, Japan has great potential in producing electronic and automotive products and Switzerland is very famous for mechanical watch industry ,so Thailand has no choice to import electronic product and watch from those countries because their knowledge and new technology is at expertise level and they also produce at the lower cost. International trade makes each countries effectively manage and control resources in order to have economy of scale.

As a result, international trade has a powerful impact on Thailand’s economy. When the economy grow up, it attracts investors to come to do business in Thailand as they can hire cheap labors and get low cost location. In turns, it increase employment rate...

Similar Documents

Premium Essay

Why Is International Trade Important for Thailand

...Why Is International Important to Thailand Why is international trade important to Thailand and how do global events impact on global trade?       International trade has played an important role to the economy in globalization. Nowsaday, many countries are interested in international business in order to get competitive advantage and can be survive in highly competitive world.   They want to enlarge their market to other countries and can get lots of benefits such as seeking the lowest cost, avoiding transportation cost and trade teriffs.       Why international trade is important to Thailand? There are 2 mains factors. First,   different resources of production.The specific physical geography of Thailand is one of restrictions to produce some goods while natural features facilitate Thailand to has more capability to produce argricultural products and food such as rice, rubber, fruit, vegetables, seafood etc.   In contrast, other countries have another type of resources and they can produce some goods at lower cost, for examples, The Middle East countries have petrolium energy and mining industry that Thailand has to import from them.       Second, different knowledge skills and technologies. For example, Japan has great potential in producing electronic and automotive products and Switzerland is very famous for mechanical watch industry ,so Thailand has no choice to import electronic product and watch from those countries because their knowledge and new technology...

Words: 484 - Pages: 2

Premium Essay

Blades's Case Studies

...Chapter 2 International Flow of Funds Lecture Outline Balance of Payments Current Account Capital and Financial Accounts International Trade Flows Distribution of U.S. Exports and Imports U.S. Balance of Trade Trend International Trade Issues Events That Increase International Trade Trade Friction Factors Affecting International Trade Flows Impact of Inflation Impact of National Income Impact of Government Policies Impact of Exchange Rates Interaction of Factors Correcting a Balance of Trade Deficit Limitations of a Weak Home Currency Solution International Capital Flows Distribution of DFI by U.S. Firms Distribution of DFI in the U.S. Factors Affecting Direct Foreign Investment Factors Affecting International Portfolio Investment Agencies that Facilitate International Flows How Trade Affects an MNC’s Value Chapter Theme This chapter provides an overview of the international environment surrounding MNCs. The chapter is macro-oriented in that it discusses international payments on a country-by-country basis. This macro discussion is useful information for an MNC since the MNC can be affected by changes in a country’s current account and capital account positions. Topics to Stimulate Class Discussion 1. Is a current account deficit something to worry about? 2. If a......

Words: 3380 - Pages: 14

Premium Essay

Advancing the Medical Tourism Industry in China

...of this study is to analyze why China’s medical tourism industry is not performing as well as countries such as India or Thailand, and also to provide insights on how to go about leveraging on certain medical procedures that China have a comparative advantage in performing. This study resulted in two findings. Firstly, there is a lack of hospitals with JCI accreditation which we found out was due to a lack of motivation from public hospitals to do so, and also a lack of transparency in the management of the Chinese hospitals. Secondly, we found that the three medical procedures with the biggest potential to spearhead the success of medical tourism in China are Heart Bypass Surgery, Hip Replacement Surgery and Traditional Chinese Medicine. Keywords: Medical Tourism China JCI Contents Page Chapter 1 Introduction 1 1.1 What is Medical Tourism 1 1.2 Reasons for the popularity of Medical Tourism 2 1.3 Why do patients seek care at medical tourism destinations? 4 1.3.1 Low Cost 4 1.3.2 Avoid Waiting lists 6 1.3.3 Procedure not available in home country 6 1.3.4 Procedures unavailable or restricted by society and/or legal system 7 1.3.5 Tourism and vacations 7 1.3.6 Privacy and Confidentiality 7 Chapter 2 Global Market overview of Medical Tourism Industry 8 2.1 Rise of Asian Medical Tourism demand 9 2.2 Medical Tourism Facilitator / Agents 10 2.3 International Medical Procedures Costing 10 2.4 International Healthcare......

Words: 11924 - Pages: 48

Premium Essay

International Financial Management

...Chapter 3 International Financial Markets Lecture Outline Motives for Using International Financial Markets Motives for Investing in Foreign Markets Motives for Providing Credit in Foreign Markets Motives for Borrowing in Foreign Markets Foreign Exchange Market History of Foreign Exchange Foreign Exchange Transactions Interpreting Foreign Exchange Quotations Currency Futures and Options Markets International Money Market Origins and Development Standardizing Global Bank Regulations International Credit Market Syndicated Loans International Bond Market Eurobond Market Development of Other Bond Markets Comparing Interest Rates Among Currencies International Stock Markets Issuance of Foreign Stock in the U.S. Issuance of Stock in Foreign Markets Comparison of International Financial Markets How Financial Markets Affect an MNC’s Value Chapter Theme This chapter identifies and discusses the various international financial markets used by MNCs. These markets facilitate day-to-day operations of MNCs, including foreign exchange transactions, investing in foreign markets, and borrowing in foreign markets. Topics to Stimulate Class Discussion 1. Why do international financial markets exist? 2. How do banks serve international financial markets? 3. Which international financial markets are most important to a firm that consistently needs short-term funds? What about a firm that needs long-term funds? Critical debate Should firms......

Words: 4905 - Pages: 20

Premium Essay

Natuzzi Thailand Relocation

...locations. Which factors should/would you consider and why? At which top-3 of countries would you arrive? Use the information in the exhibits (and possibly information that you find yourself) to motivate your answer. Investors will tend to take into consideration some important factors before deciding to invest in a foreign country. These factors may vary between the function and efficiency of local market, trade policy and privatization policy, the rules and regulations pertaining to the entry and operations of foreign investors (1) Considering the fact that firms which engage in FDI face different difficulties like additional costs for operating at distance or costs of uncertainty, there can be some support for John Dunning’s (1977, 1981) eclectic paradigm which states 3 that the investment will take place if the firm has three advantages: Ownership advantages, location advantages and internalization advantages. Possessing all three of them will allow a company to perform better that the local competitors. Natuzzi should relocate production because it wants to reduce costs and the best way to do that is to invest in a lower labor cost country. Thailand can be considered one of the most attractive locations because is like a gateway to Asia- home to nowadays largest growing economic market. The country can also offer trade with China or other member countries of ASEAN (Association of Southeast Asian Nations). Thailand has advantages in terms of transport costs ......

Words: 1915 - Pages: 8

Premium Essay

Performance Management

...Journal of International Business and Cultural Studies Performance management effectiveness in Thai banking industry: a look from performers and a role of interactional justice Pachsiry Chompukum Chulalongkorn University Abstract Businesses are facing up to high competitive pressure, especially banking industry. After 1997 crisis, banking industry meet more challenges from new financial landscape. Aiming to improve organizational performance, they have been adopting management tools, namely performance management. To enhance impacts of performance management, it is important to understand employees’ perceived performance management effective since the process requires high involvement and commitment from employees. Data were collected from 476 employees in the four largest banks in Thailand. Results from structural equations analyses support hypothesized model that attitudes towards performance evaluation directly relate to perceived performance management effectiveness and interactional justice mediates the coaching- perceived performance management effectiveness. Discussion, limitation and future research are included. Keywords: Banking industry in Thailand, Banking industry and performance management, Effectiveness and performance management, Interactional justice, Performance Management. . This research was supported by Chulalongkorn University Centenary Academic Development Project. Performance management, Page 1 Journal of International Business and......

Words: 4624 - Pages: 19

Premium Essay

Asian Crisis 1997

...| Asian Crisis of 1997 | | | Prepared by:Azra Becirovic and Sanela Bilalic | | April 21, 2012 | Long before Asian financial crisis has started, South Korea, Thailand, Indonesia, and Malaysia had an increasing economic performance; economy was fast growing, saving rates were high, and inflation low. Turning point in Asian economy was 2 July 1997, the day when Thai Baht fell around 20 % against the $US. “It all began in Thailand’ summarizes the conventional explanation of the early stages of the crisis.” (Hill, p.3) How it all began, what factors caused the crisis, what segments were affected the most, what was the backup plan, and what policies should have been taken to prevent the crisis are the points that this paper will cover. First and Second-Generation Models According to 1996 annual report of Bank for International Settlements (BIS), pre-crisis fundamentals exhibit economic performance of Asian countries. They’ve experienced moderate inflation rates of about 6%, high savings rate of 32%, and trade openness indicators of 39%. Table 1: East Asian Economic Conditions Before Crisis Although accounting and macroeconomic analytics have failed to foreseen the currency crisis, which is inevitable, first and second-generation models explain us was it due to weakening macroeconomic fundamentals or financial contagion. In accordance to first-generation model developed by Krugman 1979, market-speculative movements, in response to policies, are......

Words: 4114 - Pages: 17

Premium Essay

Article Commentary on- Supplier Development and Cost Management in Southeast Asia- Results from a Field Study

...van Jarwaarde, Bianca Groen University of Twente, The Netherlands Journal: Journal of Purchasing & Supply Management 13(2007) 1. What is/are the research question(s)? The research questions are as follows: * What motives do international companies in Southeast Asia have for buying from local suppliers and investing in supplier development? * What priorities do international companies have for local supplier development initiatives? * What practice do international companies use for developing local suppliers? * How do companies manage the risk of transaction-specific investments in local supplier development in Southeast Asia? 2. Main theoretical arguments or hypotheses: Arguments: a) Motives for Supplier Development * Cost advantages * Reduction of lead times * Government regulation * Reduction of supplier dependency b) Priorities for Supplier Development, c) Supplier Development practices * Supplier assessment and feedback * Knowledge transfer * Financial investments * Involvement in operations management d) Transaction-specific investment- of international companies in Southeast Asia. Hypothesis: There is no hypothesis. 3. For the empirical, illustrate the research study methodology: a. Year of study/data:...

Words: 729 - Pages: 3

Premium Essay

Shangri-La Hotel

...MEDICAL TOURISM IN THAILAND Table of Contents Medical Tourism What is Medical Tourism Why Thailand? Medical Tourism in Thailand Why Thailand is No.1 in Medical Destination? What makes Thailand a prime Medical Destination? History of modern medical services Medical and health services currently provided Present policy of medical tourism of Thailand Medical treatments that Thailand offer Additional services for your recover period Medical standards of Thailand Rules and regulations 4 4 5 5 6 7 10 12 14 15 19 23 25 Follow the doctor’s instructions pre-treatment strictly 26 While you are on your way Plan ahead Select health travel agent Summary 27 28 29 31 2 MEDICAL TOURISM IN THAIALND 3 Medical Tourism Medical tourism is a term that has risen from the rapid growth of international healthcare where people from all around the world are traveling to other countries to obtain general medical surgery, cosmetic plastic surgery and dental surgery at a fraction of the cost of healthcare in their home country. And, while abroad, if physical conditions permit, patients can experience the interesting cultural attractions their destination country offers. More and more people are seeking the expertise of medical tourism companies to travel abroad as an affordable, enjoyable, and safe alternative to having medical, dental, and cosmetic surgical procedures done in their home countries. What is Medical Tourism? Medical Tourism is the practice of travelling across the......

Words: 6386 - Pages: 26

Free Essay

The Rise of Medical Tourism in Bangkok

...combine treatment with travel -- are crossing international borders for the sole purpose of attaining medical services, which can range from a hip replacement to a tummy tuck.   * Related video: Going local -- Bangkok, Thailand Widespread air travel, mounting healthcare costs in developed countries, long waiting lists and an ageing world population have all contributed to a global explosion of medical tourism in the past decade -- and Asia is leagues ahead in terms of world market share. More than 89% of medical tourists travelled to Thailand, India orSingapore in 2010, with Bangkok and Singapore leading the pack. But the cost of hotel rooms and treatment are both far more expensive in Singapore than in the Thai capital, making Bangkok the most popular place for medical tourism in the world. Even after the devastating floods of 2011, 19 million tourists visited Thailand in 2011, a 20% jump from 2010, with an estimated 500,000 travelling specifically for medical treatment, whereas of the 10.2 million tourists that visit Singapore each year, only 200,000 go to receive medical care. The trend is lucrative too. Medical tourism in Thailand is growing at a yearly rate of 16%, while in financial terms the foreign medical services sector is expected to make a whopping 100 billion baht by 2015. Currently, medical tourism makes up 0.4% of the GDP, while tourism overall accounts for 6% to 7%, the third most important economic driver in Thailand. To compare, the Thai automotive......

Words: 769 - Pages: 4

Premium Essay

Poverty in Phillipine

...SEARCA Agriculture & Development Discussion Paper Series No. 2007-1 Why Does Poverty Persist in the Philippines? Facts, Fancies, and Policies Arsenio M. Balisacan SOUTHEAST ASIAN REGIONAL CENTER FOR GRADUATE STUDY AND RESEARCH IN AGRICULTURE Science and education for agriculture and development Arsenio M. Balisacan SEARCA College, Los Baños, Laguna Tel/Fax: (63) 495362290 E-mail: post@agri.searca.org The SEARCA Agriculture and Development Discussion Paper Series aims to disseminate information on current trends or researches to inspire discussion between the author and other stakeholders in the same field of interest. SEARCA encourages readers to directly contact the author through the address provided or join the discussion board for this paper at http://bit.ly/searca-dps-2007-1. DISCLAIMER The point of view taken in this paper is entirely that of the author and does not reflect in any way, SEARCA’s position. INTRODUCTION A ddresing the widespread poverty problem is the single most important policy challenge facing the Philippines. Not only is poverty high compared with other countries in East Asia, but also its reduction is so slow that the country has become the basket case in the region. Proposals peddled to address the poverty problem are plenty—and keep growing. At one end of the spectrum are proposals contending that the root of the problem is simply the lack of a respectable economic growth. Putting the economy on a high-growth path is......

Words: 7211 - Pages: 29

Premium Essay

Medical Tourism

...TOURISM IN THAILAND WITH REGARD TO SERVICES PROVIDED BY HOSPITALS A CASE STUDY TO UNDERSTAND THE FACTORS THAT PROMOTE AND FACILITATE MEDICAL TOURISM IN THAILAND WITH REGARD TO SERVICES PROVIDED BY HOSPITALS Tejasvi Vasudevan An Independent Study Presented to The Graduate School of Bangkok University In Partial Fulfillment of the Requirements for the Degree Master of Business Administration 2014 2014 Tejasvi Vasudevan All Rights Reserved This Independent Study has been approved by The Graduate School Bangkok University Title: A case study to understand the factors that promote and facilitate medical tourism in Thailand with regards to services provided by hospitals Author: Ms. Tejasvi Vasudevan Independent Study Committees: Advisor Dr. Sriwan Thapanya ………………………………………………………………………… Field Specialist …………………………………………………………………………… (Asst. Prof. Dr. Sivaporn Wangpipatwong) Dean of the Graduate School Tejasvi Vasudevan. Master of Business Administration, May 2014, Graduates School, Bangkok University Title: A case study to understand the factors that promote and facilitate medical tourism in Thailand with regards to services provided by hospitals (72 pages) Advisor of Independent Study: Dr. Sriwan Thapanya ABSTRACT The aim of this study is to understand reasons behind the growing medical tourism industry in Thailand. By studying the attributes that make the hospitals in Thailand......

Words: 21396 - Pages: 86

Premium Essay

The Rise of South East Asia and the Effect of China

... 4. The likelihood to become significant players in the global economy Prospects and assessments 5. Implication on global economic III, Conclusion I, Introduction Asia is the most dynamic region in the world economy at present. The development of Asia is twice the rate when compared to the other regions. The policy orientation, which stresses free movement of capital, goods and services across the national boundaries are the reasons for the growth which is possible now. The economic efficiency and transfer of technology which foster shifts in productions and comparative advantages are the results of the enhancement. (Chong) Because of the Global Financial Crisis, Southeast Asia has been the Gold rush modern- day as international companies clamor to get a piece of the action. As the major part of the young population of 600million and the increasing middle class people are the few bright spots for economic growth and investment returns. Unfortunately, according to my research has found that much of this region’s growth in recent years had been by ballooning credit and asset bubbles a pattern that is also occurring in the numerous emerging economies across the globe. (southeastasiaseconomy) This easy focus on evaluate the economic performance of South East Asian...

Words: 3177 - Pages: 13

Premium Essay

Tesco Online Marketing Research in Thailand's Markets

... Table of contents 2 Executive Summary 3 1. Introduction 4 a. Industry Overview 5 b. Organisational Background 5 c. Business Objectives 5 d. Problem Statement 5 e. Research Aim and Objectives 6 2. Research Methodology 6 f. Secondary Data Collection 6 g. Primary Data Collection 7 i. Qualitative/Quantitative 7 ii. Sampling 7 3. Conclusions 8 References 9 Appendix 11 Executive Summary The present study focuses on Tesco Lotus Thailand and their recent venture into the online grocery shopping industry. The company that accounts for over 1700 retail outlets and employing over 50,000 workers around Thailand, has yet to make any major improvements in their online market share. Big C Super Center, a competitor is presently leading in the industry of online grocery shopping. The study presents that Tesco Lotus lack of proper engagement with the Thai market with the right marketing strategies is one of the primary reasons for this failure. The study therefore wishes to propose a marketing strategy that involves the incorporation of contemporary market strategies such as the use of smartphone application, website design and development, social media and the readjustment of 4Ps of the marketing mix in order to reconfigure their failure into a success. The......

Words: 2557 - Pages: 11

Premium Essay

Fdfsdf

...McCann Sarah Hardy Peng Xu Kai Zhou _____________________________________________________________________ MONDAY: 4:30-5:30pm ALYSSA CROUCHER MARK 343: Wedding Industry International Marketing Report * Executive Summary: * * This report provides an analysis and evaluation of the prospective advantages and opportunities presented to Pavilion Samui Boutique Resort (PSBR) by targeting the wedding market in Australia. Through the collection of data from secondary sources, it has been established that there exists a potential market and profit opportunity for PSBR located in the Australian wedding industry. * * The overall objective of this marketing plan is to establish a sustainable and profitable presence in the Australian wedding market within the 2012/2013 fiscal year. This will be achieved by increasing the awareness of this service offered by PSBR through a targeted promotion plan to ultimately result in a higher annual profit margin for PSBR by entering this market. * * The report findings indicate that there is a current trend towards Australian weddings no longer having a religious aspect or simply not incorporating it into their wedding ceremony. This information, combined with an increase in the number of Australians traveling to Thailand per year indicates the potential attraction that the Pavilion Boutique Resort wedding packages could hold for Australians. * * The targets of this report are attainable......

Words: 4978 - Pages: 20