The wave of protests against the government of former Prime Minister Yingluck Shinawatra spread at the end of 2013. In May 2014, a coup took place in Thailand under the leadership of General Prayut Chan-o-cha. This studyargues that political fluctuations have negative affected Thailand’s social and economic development, especially in tourism, investment, and domestic consumption. Giventhis situa tion,the Thai government has implemented several economic reform measures. This study argues that under the Prayut Chan-o-cha administration, Thailand’s economy has achieved achievements.However, the economy continues to face fundamental challenges such as a decline in consumer confidence, a widening budget deficit, slow improvement of labor productivity, unstable inward foreign investment, and a rapidly aging population. In recent years, the coronavirus disease (COVID-19) pandemic has neg atively affected Thailand's economic development. To resolvethese challenges, Thailand should have political stability as well asimplement measures to restructure the economy, invest in improving high- quality human resources and labour skills, andliberalise the service sector.