Thailand

(Kingdom of Thailand)

Thai flag

Thailand has long been a popular destination for foreign business, and continues to attract high levels of foreign investment.

A medium sized country, the size of its population is about the same as the UK and it boasts a highly diversified mixed economy, which offers both a growing consumer market as well as opportunities for sourcing and investment. Recently reclassified as an upper middle income country by the World Bank, the country enjoys low levels of inflation and public debt, but also continues to suffer from severe inequalities in income distribution and education, which present significant challenges to the economy and political system.

Southeast Asia’s oldest democracy, it has a long history of military coups and political instability which continue to be a major concern to Thais and foreigners alike, yet surprisingly this generally has little impact on business. Even extreme events such as the 2010 riots had minimal impact on the overall economy generally only affecting the retail and tourism businesses, as well as the operations of firms located in the centre of Bangkok.

While Thai society is generally open and welcoming to foreigners, regulations relating to foreign business are often less open than other countries in the region. Aside from restrictive policies on foreign business ownership, this includes high barriers to market entry, both in terms of import taxes and in access to the distribution system.

 

Population: c. 66,720,200
Capital City: Bangkok
Government: Constitutional Monarchy, Multi-party Democracy
Languages: Thai (official), Lao, Dialects
GDP per capita (PPP): $8,700 USD
GNI per capita: $4,210 USD
Growth Rate Fluctuation Range: 4%-8% p.a. (est.)

 

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