5 Lucrative Business opportunities in Thailand

In case you don’t know already, Thailand is the second largest economy in Sea with a well-developed infrastructure and a growing GDP. Though Thailand’s economy is diverse, its manufacturing sector is essential and that is very much reflected in the exports by the Swedish companies, wherein types of machinery for the power sector and transport are dominating. Even during difficult times, the Thai economy has proven to be resilient.

Dating back to 2016, Thailand’s manufacturing sector contributed 27% in the GDP, agriculture 8%, automobiles trade 15%, transportation and storage 6%, and financial and insurance activities 8%. Contribution from each sector remained the same for the past five years along with all the sectors growing positively. Despite severe economic and political crisis over the past 30 years, the Thai economy has managed to grow at 7.7% CAGR.

Following are some primary trends shaping the opportunities and economy in Thailand;

1. Infrastructure Investments: The majority of the investments and projects are carried out in this sector. While aiming to improve the infrastructure in the coming years, the country is focusing on sustainability and environmental impact.
2. Transportation: As trade increases, Thailand will be in need of more logistic solutions. Even the E-commerce industry is expected to drive the express delivery market while catering to the demand for this service in the B2C business segment.
3. Healthcare: Thailand’s population is growing fast in numbers, especially the elderly, thus creating the need for more healthcare facilities. Besides, a significant increase in interest from foreign investors in the healthcare sector, particularly in private and public healthcare, the medical devices sector, and drugs is seen.
4. Thailand 4.0: The country is focusing on being a value-driven economy in order to take steps into the S curve. This means there is more emphasis on digitalization in order to cater to the smart cities, smart manufacturing plus digital solutions for the consumers.
5. Manufacturing: Thailand is the strongest in this. The new policy in Thailand is putting more effort to shift the manufacturing industry into more technology-driven while aiming to attract investment in these industries.

So, now that you have an understanding of the potential sectors to invest in, you can now think of setting up your business in Thailand.