Assessing Strategies for Adaption to Survive the COVID-19 Situation of OTOP Operators in Thailand

One Tambon One Product (OTOP) is a local entrepreneurship stimulus program which aims to support the unique locally made and marketed products of each Thai sub-district all over Thailand. The undertakings having been important in many respects to the local economy of Thailand, we determine to assess the impact of COVID-19 on the survival probability of OTOP operators from October 2021 to August 2022 as permitted by data availability. The ultimate objective of this study is to help enable the 475 OTOP operators in Thailand to choose the right business strategies and plans against COVID-19. The Cox proportional hazards model estimator is employed for the analysis. The findings reveal that the survivability of the OTOP operators mainly depends on the factors of fixed assets, type of business, number of employees, government assistance, and business model adjustment. Particularly, the latter two factors are the key mechanisms increasing the survivability of the OTOP operators in Thailand.