Thailand's 2026 Economic Outlook: Marketing Association Forecasts 0.9% Growth

• The Marketing Association of Thailand forecasts a modest 0.9% growth for the Thai economy in 2026, marking the lowest projection in its history, signaling a tougher year ahead.
• Key factors pressuring the market include changing consumer behavior, political instability, and the impact of digital technologies.
• Over 70% of marketers plan to maintain or reduce their marketing budgets, and overall industry spend is expected to decrease by 1%. Businesses are prioritizing "profit" over growth.
• Despite a slow economy, sectors like health, agritech, and quality tourism show strong growth potential, with AI emerging as the most crucial technology for the future.

Economic and Marketing Trends for 2026

At the Thailand Marketing Day 2025 event, Dr. Somchat Visitchaichan, Vice President of Marketing Knowledge, and Assoc. Prof. Dr. Ake Pattaratanakun, Vice President of Activities, Communications, and Sustainable Marketing, presented the survey results from 126 senior marketers, covering both public and private organizations, as well as top universities. These professionals manage large teams of over 5,000 people, with salaries above 300,000 baht per month, offering real insights into the Thai economy.

The survey clearly shows that the Thai economy in 2026 is expected to grow by only 0.9%, lower than the previous year's forecast of 1.65%, which turned out to be almost double the government's estimate. This downward revision reflects a significant increase in concerns about next year's economic conditions.

Three Major Pressures Impacting Thailand's Economy and Marketing:

1. Changing Consumer Behavior: Consumers are becoming more complex, seeking individuality at lower prices, forcing businesses to adapt their strategies.
2. Political Instability: Political power shifts and policy changes affect confidence and investment.
3. Digital Technologies: Digital disruption continues to impact almost every industry.

Marketing Budgets to Shrink; Profit Becomes Top Priority

Amidst the slow economy, over 70% of marketers say they will not increase their marketing budgets in 2026, with the total industry budget expected to decrease by 1%. This highlights the growing focus on cost-cutting, as many companies have already reduced other budgets, such as HR, by up to 20%.

However, e-commerce platforms remain a clear area of growth, as businesses seek opportunities to increase profit margins and reduce dependence on major platforms.

AI, Health, Agritech, and Quality Tourism Lead Growth

Looking ahead, marketers view AI as the most important technology in 2026, followed by IoT and Biotechnology, which are expected to become key pillars for many industries.

Sectors with the highest growth potential include:

1. Health & Wellness
2. Agritech and Biotechnology
3. Quality Tourism, which continues to attract high-income consumers despite the overall economic slowdown.

Key Skills for Future Marketers: Creativity and Analytical Thinking

According to the World Economic Forum (WEF) skillset framework, marketers in 2026 must focus on two crucial skills:

• Creativity, Originality, and Initiative
• Analytical Thinking & Innovation

Both skills received the highest ratings, seen as essential advantages, not just basic requirements, like technical skills which are now considered commonplace.

Three Opportunities, Three Challenges, and the "ABCD" Formula for 2026

Marketers identified three key opportunities for 2026:

• AI
• Sustainability
• Agility

However, three major challenges for the upcoming year include:

• Budget constraints
• Global conflicts
• Fragmentation in consumer behavior, demanding more precise marketing communication.

To navigate these challenges, the association summarized the “ABCD” approach:

• A – Analytical Thinking: Use data and AI to minimize instinct-based decisions.
• B – Balance: Manage budgets effectively to maintain profits.
• C – Creativity: Innovate within limitations of the economy and budget.
• D – Data with Purpose: Use data to create value for businesses, people, and the environment.

The Role of Marketing in the New World

Dr. Buranin Rattanasombat, President of the Marketing Association of Thailand, highlighted the role of marketing in the evolving world. Marketing must not only focus on sales and branding but should be a driving force for societal change, addressing economic, social, and environmental challenges. The new era of marketing requires adapting to "fragmented" markets but can still drive growth if marketers understand and leverage small, targeted opportunities effectively.

He also discussed the increasing importance of AI and smart bots in creating a smarter world, even as we face increasing global vulnerabilities, such as economic, social, and environmental crises.

Dr. Buranin emphasized the need for ethical marketing, stating that today’s society does not need "drama for the sake of attention" but rather “drama of quality” that creates lasting value.

He thanked the Ministry of Energy, speakers, experts, sponsors, and all marketers involved in making the event a success. The event also included a seminar titled "Marketing in Action" to explore new perspectives for attendees.