Investing In Thailand?
Thailand is one of the worlds fasting growing economies, with a growth of 21% in the past 6 years. Thailand has major Exports in jewelry, automobiles, computers, textiles and more.
The Thai economy is projected to expand by 3.2 percent in 2016 and 2017 driven mainly by private consumption, public spending, and exports of services.
Thailand is renowned for its low cost of living. It came out as one of the best destinations for expats looking for an improved lifestyle at a low cost in the 2015 Expat Explorer Survey, with over two-thirds of expats saying they associate Thailand with a higher quality of life and having greater levels of disposable income. Grocery shopping is cheap, as are restaurant meals and street food. Clothing, transport and accommodation costs are also low.
The Thailand Board of Investment offers investors a competitive package of fiscal and non-tax incentives, as well as a wide range of services before during and after the application process. The combination of incentives and services has enabled Thailand to consistently attract large numbers of investors from around the world.
The combination of affordability and an attractive investment location is hard to beat and for their families, Thailand provides a wide range of international schools and world-class hospitals.
In terms of healthcare, the country has developed an excellent reputation globally, due to its internationally-certified doctors and medical staff, and modern facilities and equipment. It is so good that one of the fastest-rising tourism sectors is medical tourism, with international patients visiting Thailand to take advantage of Thailand’s world-class and extremely affordable health care system.
In addition, Thailand’s communications network is extensive, with 83.05 million mobile phone subscribers, more than 39.5 million internet users, including 6.4 million broadband subscribers, and an e-commerce market that is forecast to reach a trillion baht in 2016. Those figures are increasing daily, due to the widespread availability of broadband and wi-fi access in all provinces.
Thailand is the world’s:
31st biggest economy
22nd biggest economies by purchasing power
24th biggest exporter
16th largest manufacturing output
34th largest services output
11th largest agriculture output
25th largest industrial output
Thailand has demonstrated remarkable economic progress experiencing foreign direct investment (FDI) inflows’ growth of 21% over the past 6 years, compared to the global percentage of 0.7%. Occupying the 4th rank in Asia’s top prospective host economies, Thailand has gained a solid reputation as a second home for various global multinational enterprises (MNEs).
In 2014, Thailand was:
World’s #1 rice exporter (by quantity)
World’s #2 pineapple exporter
World’s #2 sugar exporter
World’s #1 cassava exporter
World’s #1 rubber exporter in
World’s #6 rubber tires exports (by value)
World’s #7 computer device exports (by value)
World’s #9 computer accessories exports (by value)
World’s #7 motorcycle exports (by value)
World’s #5 truck exports (by value)
World’s largest producer of HDDs
Key facts about Thailand
|Population (2014)||65.73 million|
|ASEAN Population||625 million|
|Minimum Wage||300 Baht/day|
|GDP (2015)||US$395.1 billion|
|GDP per Capita (2015)||US$5,876.5|
|GDP Growth (2015)||2.8%|
|GDP Growth (2016, projected)||3.2%|
|Export Growth (2015)||-5.6%|
|Export Growth (2016, projected)||0.0%|
|Trade Balance (2015)||US$34.6 billion|
|Current Account Balance (2015)||US$31.6 billion|
|International Reserves (2015)||US$156.5 billion|
|Capacity Utilization Rate (2015)||64.65|
|Manufacturing Production Index (2015)||107.72|
|Core Inflation (2015)||1.1%|
|Headline Inflation (2015)||-0.9%|
|Consumer Price Index (Nov 2016) (2011=100)||106.79|
|Corporate Income Tax||10-20%|
|Value Added Tax||7%|
Investing in Thailand? Contact Us!