Moon landing: can the space industry revive the Thai economy?

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The National Innovation Agency has urged citizens to understand that the solution to saving the struggling economy may not lie in Thailand, but on the moon. The agency on Friday revealed a new launchpad for the space industry to use in shuttle missions such as a lunar orbit that Thailand has been dreaming about and striving for for some years.

Now. With a target date of seven years from now, the Thai government hopes to send a satellite into space and orbit the moon. They have launched a new startup incubator called “Space Economy: Lifting Off 2022” which aims to take the country’s space industry supply chain and fill the gaps to create a viable platform for the kingdom to Go on the moon.

But the executive director of the NIA, a division of the Ministry of Higher Education, Science, Research and Innovation, says it’s more than just a pie (moon) in the sky and that the effort to join the space race will provide valuable social and economic benefits right here on Earth.

He explained that the lunar mission is among Thailand’s new “S-curve” industries and they expect 10% annual growth on already booming revenue. The space industry already has 30 billion baht in economic value, with more than 1,000 companies that are in the industry or at least space-related industries.

“Promoting the development of space-related products and services is an important mechanism to stimulate the growth of other industries in the country. [It] will see Thailand become part of a global space industry worth US$1 trillion and generate huge revenues.

SOURCE: The Nation

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