Frost & Sullivan: Thailand Mega Projects Good For The Future of Urbanization
BANGKOK, Nov. 5 2013 /PRNewswire/ -- As the world population continues to grow, the frantic pace of urbanization will be steadily rising in the coming decades. Frost & Sullivan studies have shown that the rate of urbanization is much faster in developing countries.
"We believe that more than 50 percent of the top Mega Cities in the world will consist of developing countries by the year 2025, including Bangkok," said Mr. Eng Lok Koh, Country Head at Frost & Sullivan Thailand.
He welcomed the two-trillion-baht infrastructure mega-projects recently announced by the Thai Government. He added that the large portion spent on building a high speed rail will be good for the country to shape urbanization in ways that improve the quality of life for the people of Thailand.
Under this mega plan, 53 projects worth Bt2.27trillion (US$66.29 billion) are to be completed by 2020.
Thai Government has stated that it is important to boost border tourism and trade through transport infrastructure connecting with neighboring countries.
"Looking ahead into the next decade, we will see the integration of the core city center with suburbs, resulting in the borders of cities being expanded. The rail expansion will be able to ensure connectivity between Bangkok and its surrounding suburbs, allowing more people to commute to work in Bangkok easily," said Mr. Koh.
He added that the high speed rail may also help alleviate high property prices in Bangkok as more people are able to stay in the suburbs and travel in and out of Bangkok in a much shorter time.
"People who used to buy and rent properties in Bangkok now can buy their homes in the provinces and travel to Bangkok using the high speed rail. The high speed rail connectivity could create a sustainable economic profile for Bangkok and its surrounding areas," he said.
"In addition, this project may potentially help to increase productivity of the country because people could use the commuting time to do more productive work," he said.
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SOURCE Frost & Sullivan