Sizing Chevron’s Economic Footprint in Thailand
Chevron commissioned IHS, a global leader in energy industry research and macroeconomic analysis, to conduct an Economic Impact Study to quantify Chevron’s contribution to the Thailand economy in terms of GDP, jobs and government revenues.
IHS found that Chevron's operations in Thailand stimulate a cascade of economic activity that resonates throughout the country along three dimensions:
- Chevron's direct spending with its Thai suppliers
- Indirectly as those suppliers spend with their extended Thai Supply Chain
- Employees of Chevron and its extended supplier network spend money, inducing additional contributions to the Thai economy
Key findings include:
- Chevron Thailand's activities supported over 200,000 Thai jobs in 2012 across a broad range of industries;
- Each Chevron/Joint Venture job supports an additional 29 jobs in the Thai economy;
- Every million dollars that Chevron spends in the Thai economy generates 67 jobs and $2.6 million in GDP;
- From 2008 to 2012, Chevron Thailand's activities drove approximately 2% of Thai GDP (2.4% in 2012);
- Chevron Thailand and its joint venture partners paid over $3.2 billion in royalties and corporate taxes to the Thai government in 2012; these business activities stimulated an additional $310 million in government revenues from personal income (workers) and corporate taxes (suppliers).
Chevron Thailand Report
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