Thailand has been remarkably successful in containing COVID-19, limiting the number of total cases to only 3,400 and deaths to 59. Since June 2020, Thailand has had only one domestically transmitted case, successfully avoiding a second wave. This paper argues that Thailand's success could be attributed to the high public fear and strict border control at the initial stage, followed by the centralization of leadership, active involvement of health volunteers, the highly cautious phased lockdown lifting, and an effective response to threats of a second wave later. However, Thailand's economy is expected to contract by 8 percent—the largest in Southeast Asia. This appears to be a paradox that could be explained by Thailand's low potential GDP growth rate, high dependence on tourism, and overly strict measures used to contain the virus.