(Thailand) – Notwithstanding a number of downsizing initiatives over the past few years, Thailand’s financial sector seems overstaffed compared with other countries.According to Asian Banking Research, an arm of the publication “Asian Banker”, finance sector employment as a percentage of population and GDP, Thailand registers a high 9.25 compared with 1.00 for the United States, 2.25 for Singapore, 1.02 for Malaysia and 1.38 for the Philippines with the sector representing 6.1 percent of GDP (the US represents some 18 percent).
According to this research, 7.69 percent of country’s population currently work in the financial sector despite sector restructuring in recent years having dropped tens of thousands of jobs.