Health, beauty tops in 2016

Medical services and beauty care remain the sectors with the brightest growth prospects next year, while handicrafts look set to have a dim 2016.

A study by the University of the Thai Chamber of Commerce (UTCC) found 2016 would be the sixth straight year for medical services and beauty care to show the most promising prospects.

The pair topped a list of sunrise industries, followed by telecommunications and gadgets (boosted by 4G and digital economy development), cosmetics and skincare cream, tourism and insurance, both life and non-life.

Rounding out the list were health foods and beverages, transport and logistics, market management, construction and sales of construction materials, products for the elderly, herbal medicines and alternative energy.

Thai medical treatment, particularly in private hospitals, is widely recognised by locals and foreigners alike for quality and affordability.

UTCC president Sauwanee Thairungroj said positive factors for these businesses included government economic stimulus measures, implementation of the Asean Economic Community, the global economic recovery and 4G network development.

The survey predicts sluggish sales for sunset industries such as handicrafts, dyeing, basic textiles and fabrics, dried fruits and vegetables, traditional momand-pop shops, small rice mills, printing, second-hand computers and mobiles, farm machinery and other equipment, and agricultural product middlemen.