Multicountry Observational Study Mission on Implementing the Sufficiency Economy Theory to Sustain Community Development

Introduced by the late King of Thailand Bhumibol Adulyadej in the height of Thailand’s economic crisis in 1997, the sufficiency economy is a philosophy based on the fundamental principles of Thai culture. It is a method of economic development based on moderation, prudence, and social immunity which uses knowledge and virtue as guidelines for living. These economic principles and approaches have gained recognition globally as a model for sustainable development.

In 2023, the Thailand International Cooperation Agency reported that 23,000 Thai villages had adopted this economic theory and it had spread to neighboring countries such as Lao PDR. In the agrifood sector, current overproduction, oversupply, and overconsumption of agricultural products cause environmental pollution, depletion of natural resources, and market price fluctuations that affect incomes and livelihoods in rural communities.

The sufficiency economy theory holistically addresses these community issues by moderating and diversifying production while balancing environmental and social resilience. This study mission will observe and learn about the successful adoption of the theory through best practices.

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