Settha Points to Wealth Migration as Opportunity for Thailand to Become Economic Hub

Former Prime Minister Settha Thavisin has identified the global wealth migration trend as a significant economic phenomenon that presents Thailand with an opportunity to advance the nation, provided it can transition from being a 'safe haven' to becoming a genuine 'economic hub'.

According to Henley & Partners data, over 142,000 ultra-high-net-worth individuals are expected to relocate globally in 2025—the highest number on record. This reflects structural changes in the global economy, where capital and individuals have greater freedom to choose their residence and investment base. "This isn't merely about people relocating," Thavisin noted, "but rather international competition to attract talented individuals, capital, and economic opportunities."

Countries like the United Arab Emirates, Singapore, and Australia have become prime destinations for wealth migration by building confidence through consistent policies, tax frameworks, and quality of life. For Thailand, Thavisin observed that "Thailand is increasingly appearing on the radar of this migration trend, reflected in rising foreign demand for residential properties, particularly in Bangkok and Phuket, as well as growing interest in the Long-Term Resident Visa (LTR Visa) program, which has attracted tens of thousands of applicants in recent years according to BOI data."

However, Thailand must still develop further to transform from a temporary "stopover" into a long-term investment destination. "Countries that attract long-term capital aren't risk-free countries, but rather predictable ones with consistent rules and credibility," Thavisin stated.

World Bank and Bank of Thailand data show that capital flowing into developing countries tends to be short-term portfolio flows rather than direct foreign investment (FDI)—a critical challenge Thailand must address to improve the quality of inbound capital.

Thavisin emphasized that this transformation extends beyond merely attracting foreign capital; it requires Thailand's readiness to support a "new economic paradigm" connected to the global world and driven by new skill sets. However, data from the National Economic and Social Development Council reveals that over 70% of Thai workers remain in low-to-medium skill categories. The council warned: "If Thailand doesn't accelerate workforce skill development and create linkages between global capital and domestic talent, it could lead to wider inequality. Overall, Thailand must envision itself as a future metropolitan nation and cultivate a metropolitan mindset among its people simultaneously."

From a policy perspective, Thavisin recommends that the public sector accelerate creation of clear and consistent frameworks, invest in infrastructure, and develop workforce skills, while the private and educational sectors must collaborate to enhance Thai human capital competitiveness in the new economy.

"The question isn't whether Thailand can be a safe haven, but how we can advance toward becoming an economic hub and ensure Thai people grow alongside this transformation," he concluded.

Thavisin also noted that success in the wealth migration era shouldn't be measured solely by the number of people or capital flowing in, but by the increased opportunities and wealth that Thai citizens gain from this change.