I can suggest you a lot of ideas, but it doesn’t mean that they will turn out to be successful. For a business to be successful there are so many factors that matter. Of all, it is important for you to have interest in what you are doing. Like I may ask you to invest in import and export, but your interest lies in restaurant and pub business. If that’s what the thing is you should follow your belief.
However, the business ideas below are a sheer representation of R&D; whether you choose from these is your discretion;
Export Business: Did you know Thailand has the 21st largest export economy in the world. Besides, it has a trade balance of almost $40.68 billion after annual import deduction. In fact, in the past 5 years, the country has experienced a massive export sales growth from $203 billion cut to $231 billion per annum. Here are top 5 export commodities of Thailand;
- Refined petroleum,
- Rubber,
- Rice,
- Raw sugar,
- Gold,
Tourism Industry: To invest in a travel and tourism industry you will need to obtain TAT license. To go by the statistics tourist arrivals has increased to 2712030 in October, 2018 from 2655560 in September, 2018 while benefiting hotel and other related tourism businesses. This forecasts a decent increase in the number of tourists. To make that happen, the Thai government is taking initiatives. Like this time (2018), the government has made the visa-on-arrival fee free for some countries (December 1st – January 31st) to encourage more visits.
Food Industry: If you don’t know already, Thailand is the food hub with so many delectable delicacies being served. It is absolutely okay for you to think whether your business will do good or not, especially when there are so many. Well, let me tell you that nothing is too much in Thailand, particularly when it comes to good food. Not only the tourists, but the Thais love eating out. They would rather prefer dining outside than cooking food.
E-commerce Industry: Thailand’s e-commerce industry market share is expected to triple in the next 5 years. It is expected to grow by 8.5% this year.
However, to start any business make sure you have sufficient capital. Sure, it is more affordable in Thailand, but you must understand every business demands a certain amount of investment. Nothing comes free.
