Thailand’s established status as a reliable and neutral partner in the region can become a significant asset in the face of shifting global dynamics, as highlighted by Distinguished Professor Andrew K. Rose, Dean of NUS Business School. During his recent visit to Bangkok, Professor Rose underscored the importance of trust amid increasingly fraught geopolitical landscapes, where investments and trade are being reconsidered.

In Professor Rose’s view, successful economies often cultivate deep international trust and maintain stable regional relations. These factors position them favourably as businesses make critical decisions on investment and expansion. He asserted that the long-standing relationships Thailand has developed over decades across Asia and beyond enhance its resilience during uncertain times.

Economic Outlook and Challenges

Current economic conditions in Thailand are notably challenging, with the International Monetary Fund forecasting a growth rate of only 1.5 per cent for 2026. Various factors, including rising energy costs and an observed decline in long-haul tourism, have contributed to this pressure. Additionally, the rapid adoption of artificial intelligence (AI) has introduced further complexities into the Thai economic landscape.

Despite these pressures, Professor Rose conveyed optimism, suggesting that disruptions can pave the way for strategic repositioning in the long run. He noted that economies demonstrating adaptability and leadership are typically the ones that emerge stronger from such turbulent periods.

Emphasising the critical nature of leadership and agility, Professor Rose maintained that these attributes will determine which nations capture growth opportunities over the next decade. His insights are particularly relevant as Southeast Asian businesses increasingly prioritise investment in AI and digital transformation amid a backdrop of global economic fragmentation.

Workforce and Talent Development

A study conducted in 2026 by Milieu Insight, which surveyed 3,000 workers across six Southeast Asian markets including Thailand, revealed that 53 per cent of respondents viewed over-reliance on AI as their foremost concern, ahead of issues like job displacement and privacy. This indicates a pressing need for organisations in Thailand to manage the deployment of new technologies in a more guided manner.

Professor Rose pointed out that responding to these challenges necessitates a comprehensive strategy encompassing talent cultivation and leadership development. Both multinational corporations and small to medium-sized enterprises must enhance their adaptation strategies to secure Thailand’s economic progress.

Ms Usa Skulkerewathana, a Senior Lecturer at NUS Business School, stressed the importance of focusing on talent development and AI readiness. She warned against viewing technology as a standalone solution and urged businesses to invest proactively in leadership and digital capabilities.

Leveraging Regional Opportunities

Singapore’s position as a financial and educational hub presents Thai professionals and organisations with an opportunity to develop regional leadership capabilities. Thai professionals have benefitted from various programmes at NUS Business School, including the MBA and executive education initiatives, which have consistently attracted participants looking for regional exposure.

Over the past five years, Thai enrolment has remained steady, indicating a sustained interest in acquiring globally recognised leadership training. In light of the evolving landscape, the concept of “trust capital” is crucial for defining Thailand’s growth trajectory.

As ASEAN undergoes significant transformations, it is imperative for Thai institutions and business leaders to treat trust capital as a competitive asset. Those who effectively develop their leadership resources will be better positioned to navigate the challenges ahead, ensuring the country can achieve sustained growth in a rapidly changing global environment.

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