Thailand can accelerate the economic growth to nearly 3% if the stable post-election government implements well-targeted investment policies, says Deloitte Thailand.
Thailand can accelerate economic growth to nearly 3% if it secures a stable post-election government and implements targeted investment policies, says Deloitte Thailand, while reaffirming the nation’s strong potential to emerge as a regional data centre hub.
Metinee Jongsaliswang, country managing director at Deloitte Thailand, said the firm projects economic growth in 2026 at around 2% under its base-case scenario, factoring in multiple uncertainties beyond the country’s control.
However, if Thailand succeeds in forming a stable government and adopts investment policies that effectively stimulate economic activity and channel capital into the right sectors, growth could approach 3%, she said.
Government spending must be directed towards projects that enhance long-term economic productivity, particularly data centres and large-scale infrastructure such as roads and mass transit systems. These investments are essential to lifting Thailand’s growth potential over the medium to long term, said Ms Metinee.
“At this stage, the most effective tools Thailand has are public investment and foreign direct investment, as these are areas the government can directly influence,” she said.
Public debt sustainability must be carefully managed, while tourism should continue to act as a supporting growth engine, even though it remains more difficult to control compared with investment-led growth, said Ms Metinee.
However, she warned that political instability could disrupt policy continuity and delay investment decisions, causing Thailand to miss critical opportunities.
The timeline from the election to the formation of a new government could take around 5-6 months, a factor incorporated into Deloitte’s forecasts.
“Regardless of which party forms the next government, a clear parliamentary majority would provide greater stability, enabling more decisive policy action and increasing the likelihood of a full four-year term,” said Ms Metinee.
Government stimulus measures could help improve economic recovery momentum in the second half of 2026, she said.
Globally, Deloitte sees continued headwinds in 2026, with the world economy expected to grow by 2-3%. Trade tensions remain elevated, particularly amid renewed tariff risks and ongoing friction between the US and China, with no clear signs of easing.
Deloitte noted Thailand’s location is highly suitable for satellite ground operations and is supported by a strong digital network, positioning the country well to serve as a regional data centre hub. The country already has much of the required infrastructure in place.
A viable data centre hub depends on three pillars — network connectivity, power supply and water resources — all of which Thailand can provide, significantly increasing its competitiveness in attracting large-scale data centre investments, noted the firm.
Thailand’s food and beverage, technology and telecom sectors, particularly data and telecom-related businesses, will continue growing in 2026. Healthcare growth may moderate amid a sluggish economy, according to Deloitte.
Sectors facing higher risks include banking and real estate due to rising non-performing loans and tighter financing conditions. In the bond market, non-rated issuers will face difficulties raising corporate funds compared with those with good ratings.