Upcountry growth paving the way for Thailand

This an incredibly good article on Bloomberg evidencing the growth of Thailand’s provinces ex Bangkok. Its something that we’ve thought internally for the longest time that Bangkok doesn’t have much more business growth which as been evidenced by its growth numbers, whereas the provinces are growing @ 2-3x the rate of the country’s GDP.

upcountry

Of the companies mentioned, CPN, GLOBAL and SINGER we used to be happy shareholders in all 3 although have since exited only b/c of valuations and not b/c of their businesses. Anyways see below for snippets and the link if you want to read the whole article.

Meanwhile, further to the south, Thailand’s burgeoning auto industry — in 2012 the 10th-biggest manufacturer in the world — has brought such prosperity to a region known as the eastern seaboard that one province, Rayong, has become twice as rich as Bangkok in terms of per capita income, according to government data.

Across town, the Siam Global House Pcl home-improvement center now stocks $6,000 timber-paneled Jacuzzis alongside more-mundane bathroom fittings. The local unit of U.K.-based supermarket giant Tesco Plc anchors a second shopping mall.

Source: Bloomberg

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