Thailand’s private investment recovery after the 1997-98 Asian financial
crisis has been sluggish. Until 1996, Thailand’s growth was characterized by high rates
of total investment. Private investment recovery after the crisis has been slower than in
past recoveries and the current rate of such investment remains low despite a strong
economic recovery after 2001. In 2004, private investment reached only about 15
percent of gross domestic product (GDP), compared with an average of more than 25
percent in the period prior to the crisis.