Thailand has transformed into a business-friendly, upper middle-income country of about 70 million people - an important regional economic hub in one of the most dynamic regions in the world. Difficult international economic conditions, Thailand's worst flooding in recent history in 2011, and political disturbances have undermined growth performance since 2009. Rising living standards, increasing labor costs, an aging population, and persistent inequality require a reorientation of development strategies to focus more on skills development, innovation, productivity growth, and environmental sustainability to achieve national aspirations for inclusive and sustainable development to reach high-income country status.

ADB's role in supporting Thailand's transformation is evolving accordingly - with an increasing focus on providing value-adding knowledge products and services, and leveraging of financial resources, particularly from the private sector.