Corruption in Thailand

in Business Risk

A survey conducted by the University of the Thai Chamber of Commerce found that companies that pay kickbacks and bribes to state officials pay in the range of 25 to 35 percent of the project value. The survey was based upon 2,400 respondents.

In 2013, the value of corruption in Thailand was estimated to cost $8.6 Billion (240 to 330 Billion Thai Baht), or roughly 10 percent of the 2.4 Trillion Thai Baht that was spent on the country’s overall investment and procurement budget.

Based on the 35 percent kickback rate, Thailand’s GDP rate would be cut by 2.63 percent due to corruption.

(Additional types of corruption in the world.)

Source:  “Corruption ‘still plagues Thailand’ ,” Bangkok Post, January 17, 2014.

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