We can’t actually say Thailand is happy … however its economy has been voted the ‘least miserable’ of all countries. According to the Bloomberg Misery Index for 2017 Thailand, Singapore and Japan, in that order, ranked lowest in the world’s “most miserable economies” by Bloomberg. And it is predicting no change for Thailand this tear.
“Asian economies are fortunate to escape the top 10 most miserable this year, which are otherwise geographically diverse with Europe, Latin America, and Africa almost equally represented,” noted Bloomberg.
The Bloomberg Misery Index relies on the age-old concept that low inflation and unemployment generally illustrate how good an economy’s residents should feel.
Thailand’s unemployment rate has been remarkably low for years, ranging between 0.4-1.2% since 2011. According to a central bank officer, the low unemployment rate is a result of structural factors.
The agriculture and “informal” sectors such as street vendors or motorbike taxi drivers absorb most of those labourers who lose their jobs in the formal sector.
The Thai Prime Minister says he is satisfied with the latest Bloomberg published Misery Index where Thailand was listed as ”the least miserable” economy out of a total of 66 countries for the fourth consecutive year.