The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) aims to collect in-depth data about Thailand's GDP per capita for every business and industrial sector as it plans to present the results to the government for future budget allocation.
Suphan Mongkolsuthree, chairman of the Federation of Thai Industries (FTI), said the JSCCIB meeting ordered the FTI to carry out this study, covering GDP per capita in regions nationwide.
He said the FTI will soon meet with its in-house academic unit to conclude this in-depth study.
"The FTI will report on further progress at the JSCCIB meeting next month," said Mr Suphan.
The National Economic and Social Development Board (NESDB) reported Thailand's GDP per capita rose from US$6,104 (202,692 baht) in 2016 to $6,729 in 2017. The NESDB estimates 2018 GDP per capita will increase to $7,588.
In Southeast Asia, Singapore has the highest income per person at $61,766 per year. Brunei comes second at $27,601.
Malaysia is ranked third for regional GDP per capita at $10,430 per year, and Thailand comes in fourth place in the region, before Indonesia at $4,116.
"After collecting data, the FTI will better understand income structure across the country for all sectors, including income per head by province," said Mr Suphan.
"The country will gain many benefits from this study, while the government can better design its stimulus measures and budgets."
He said the government wants to escape the middle-income trap in 20 years by reaching GDP per capita of over $10,000.
The flagship Eastern Economic Corridor is part of that goal over the next five years. The government wants to attract new investment of more than 1.7 trillion baht by 2021 to the new special economic zone to localise high-tech manufacturing.
Mr Suphan said new infrastructure projects, private investment, export and tourism in the country are all important indicators to track the progress of the economy and income per head.
