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Foreign Investors Concerned About Political Stability

Thailand: Asia’s most corrupt country?

Nelson Alcantara  Apr 14, 2009

Maybe the anti-government protesters in Thailand have a valid reason for taking their cause to the streets, as Thailand, along with Indonesia, has just been named as one of the most corrupt countries in Asia.

A report in the Bangkok Post, says Indonesia and Thailand are perceived as Asia's most corrupt economies, with last year's cellar-dweller, the Philippines, making a marked improvement, an annual survey of foreign business executives shows.

The Thai paper cited the survey by the Political and Economic Risk Consultancy (PERC), which puts Thailand as the second-most corrupt country with a grade of 7.63, with Indonesia taking the lead spot as the most corrupt country in Asia.

PERC, however, added that foreign investors were more concerned about political stability. "Very few expatriate executives find that corruption makes the country a less attractive place to live and do business," it said.
While it may be the case that Thailand is not the most corrupt country in Asia, it undeniable is the most volatile at the moment. It is certainly a condition that is conducive to the requirements of a country still suffering from the damages caused by last year’s airport siege.

This report should be a stark reminder to Thailand to get its act together. In this economy, it is hard enough to lure tourists. To add political instability on top of that, could very much have irreparable damage to Thailand’s travel and tourism industry.

As of the latest reports from the beleaguered parts of Thailand, conflicting accounts of deaths and injuries have surfaced. Regardless, travel and tourism seems to be intact. At airports and hotels, business is being conducted as usual.

Thailand: Asia’s most corrupt country?
Anti-govt. leader Pongreungrong with unidentified Thai official during protests. - Image via

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