Thailand Country Profile

Thailand remains a preferred destination for overseas businesses, given its central location in Southeast Asia and worldwide connections. Here are some key market features foreign businesses should know about as well as a SWOT analysis of Thailand. To better understand if you’re ready to enter the market, click here to take our Readiness Check.

• Robust consumer market with 70 million people and further access to ASEAN population of 600 million.
• Second largest economy in Southeast Asia, third largest export base in ASEAN.
• Total of 13 FTA’s with AFTA, ASEAN, Australia,  China, Chile, India, Japan,  New Zealand, Peru and South Korea as well as RCEP. Negotiations are currently ongoing with EFTA (Iceland, Liechtenstein, Norway and Switzerland) and the EU.
• Thailand’s top export categories are: electronics; machinery; cars and automotive parts; rubber products; polymers of ethylene and propylene; and precious stones and jewellery.
• Thailand is known as the “Detroit of Asia” with nearly 2 million cars manufactured by all major brands, including Mercedes and BMW.
• Building on the success of the Eastern Seaboard, the Thai government continues developing the Eastern Economic Corridor (EEC), a flagship megaproject that aims to become the ASEAN-leading economic zone for industrial, infrastructure, and urban development.
• Superior service sector used as the gold standard in hospitality around the world.
• Thailand is repeatedly ranked as the most favoured country to live as an expatriate with value for money in terms quality of living, superior infrastructure, international standard hospitals and schools; superior holiday destinations and restaurants from all the world’s kitchens.
• Bangkok is one of the best connected cities in Asia with direct flights to all major cities in Europe, Asia, and Australia. Ideal place to locate a regional headquarters for Asia.