Thailand Targets 'Health Economy' with 11% GDP Goal
The Ministry of Public Health launches a six-pronged strategy to transform the country into a Medical & Wellness Hub, aiming for a 1.98 trillion baht sector within three years
- Thailand's government aims to expand its "health economy" to contribute 11.08% of the country's GDP, or over 1.98 trillion baht, within three years.
- The plan is driven by a six-pronged strategy to transform the nation into a "Medical & Wellness Hub," focusing on areas like health tourism, traditional Thai medicine, and high-value medical services.
- To support this goal, the Ministry of Public Health has established a new Office of Health Economics and an Intelligent Operation Centre to manage data, guide policy, and monitor progress.
The Thai Ministry of Public Health (MoPH) has embraced the government's "health economy" policy, with Minister Somsak Thepsutin announcing a six-pronged strategy to transform Thailand into a full-fledged "Medical & Wellness Hub."
The initiative is projected to be worth 690 billion baht, representing 3.39% of the country's GDP.
At a press conference on Thursday, Public Health Minister Somsak revealed that the strategy has already generated over 118 billion baht in direct economic value, which is 17% of the initial target.
The total direct and indirect value has reached 372 billion baht.
The plan focuses on six key areas:
- Upgrading traditional Thai wisdom and massage
- Developing Thai herbs, medicine, and food
- Promoting health tourism
- Developing the medical equipment industry
- Elevating high-value medical and health centres (ATMPs)
- Promoting personal health and beauty businesses
Somsak added that within three years, the health economy's total direct and indirect value is expected to expand to more than 1.98 trillion baht, or 11.08% of GDP.
To drive the initiative, the MoPH has established the Office of Health Economics and the Health Economics Intelligent Operation Centre (IOC).
Somsak explained that the new office will provide a connected and transparent data system to aid in policy decisions and strengthen Thailand's role as a Medical & Wellness Hub on the international stage.
The office will collect and integrate data from various related departments and ministries, with the core mission of promoting a healthy population.
"The goal is to make Thailand a 'destination' for healthcare and to help people live healthy, long lives.," Somsak stated.
He also noted that if the medical and public health economy continues to grow, this office could be developed into a new department within the MoPH.
Addressing concerns about consumer safety, Somsak stressed that standards are paramount.
He confirmed that Thai products, such as traditional herbs and medicine, must be developed to meet internationally recognised standards from the Thai Food and Drug Administration (FDA).
"The MoPH is not lowering its standards; we are making our processes faster," he said. "In the past, people complained that the FDA was slow, but now some complain that it is too fast. I can confirm that we are more rigorous than before in inspecting all products and services, including those from abroad. We are not using lower standards but rather adopting common standards, such as European standards, to ensure Thailand can be a part of the global community."
Dr Opas Karnkawinpong, Permanent Secretary of the MoPH, added that the Office of Health Economics will serve as a central hub for systematic and sustainable policy analysis.
The IOC will act as a central mechanism for monitoring the situation and evaluating economic performance using advanced digital technologies like Big Data, AI, and real-time dashboards to ensure the policy is driven effectively.
