Sunrise, sunset: The future of jobs

Medical and beauty clinics will be the most successful businesses next year, while bleaching and dyeing will be the most vulnerable to closure, according to a research by the University of the Thai Chamber of Commerce.

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Bright future for medical, beauty clinics

Phusadee Arunmas

Medical and beauty clinics will be the most successful businesses next year, while bleaching and dyeing will be the most vulnerable to closure, according to research by the University of the Thai Chamber of Commerce.

UTCC vice president Thanavath Phonvichai said on Thursday that medical services and beauty care would remain as champion businesses for the sixth year in a row next year and continue to be stand-out operations for the following three to five years.

"The tide of health and beauty care is high continuously. Medical services are about quality and are not expensive. In addition, Thailand is becoming an ageing society," he said.

UTCC found that other "sunrise" businesses in the near future would be cosmetics and skincare; e-commerce; tourism, information and communication technology; construction; logistics; financial services; modern trade; insurance and event organisation; electronic repairs and supply; and education and legal counselling.

E-commerce served consumers' desire for quick and convenient services and the business was enjoying more support from the government, Mr Thanavath said.

Construction and building materials also had bright prospects because the government was investing in infrastructure and the economy was picking up, he said.

For sunset industries, in descending order, Mr Thanavath mentioned bleaching and dyeing; handicrafts; print media; books and video rental; basic textiles and fabrics; poster production; lumber mills; shoemaking and repair; furniture; and agricultural machine distribution.

"Sunset industries face declining demand and disruptive technologies. They have lower revenue but their costs either remain the same or are increasing. The businesses will either slow or shut down," Mr Thanavath said.

Big trends in Thailand next year would be the obvious steps of the digital era and the ageing society, and urbanisation, he said.

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