On the radio this morning on the way to work, they said that there would be an additional 10,000 jobs lost in the manufacturing sector in Thailand before the end of the year. The person advised that this would put job loss numbers around 200,000 for the year (if I remember correctly).
It was said that next year would bring more doom and gloom for the manufacturing companies in Thailand, as the auto industry is projected to be down an accumlative 30% next year.
That being said, the tourism numbers are off by a wide margin as well. Where are these workers going to go for money? Back to the rice farms? Prostitution? Street beggars? Hawkers?
With tourism down, service jobs are in big big trouble as well. I fear that Thailand is heading for a large economic crisis within the next 12-36 months. Labor unions striking, higher wages being demanded, political stability in question. All causing more companies to go to places like China, Vietnam, and yes even Cambodia is becoming a player in the manufacturing.
What will our beloved Thailand look like in 3 years time? I hope for the best, but am expecting the worst.