Why start business in Thailand?

Starting a business in Thailand can be advantageous for several reasons. Here are some key factors that make Thailand an attractive destination for entrepreneurs:

Strategic Location

Thailand is strategically located in the heart of Southeast Asia, making it a gateway to other markets in the region. Its geographical location provides easy access to markets such as China, India, ASEAN countries, and the Asia-Pacific region.

Growing Economy

Thailand has a dynamic and growing economy, with a strong domestic market and increasing consumer purchasing power. The country has a diverse range of industries, including manufacturing, tourism, services, and agriculture, offering opportunities for various types of businesses.

Favorable Investment Environment

The Thai government has implemented policies and incentives to attract foreign investment and promote entrepreneurship. These include tax incentives, streamlined business registration processes, and initiatives to support specific industries such as technology, renewable energy, and tourism.

Supportive Business Environment

The Thai government has taken measures to improve the ease of doing business in the country. Initiatives such as the Eastern Economic Corridor (EEC) and various investment promotion schemes aim to simplify regulations, enhance infrastructure, and attract foreign investment.

Source: Department of Business Development (DBD)
www.dbd.go.th 

Strong Infrastructure

Thailand has well-developed infrastructure, including modern transportation systems, reliable logistics networks, and advanced communication technologies. This infrastructure facilitates business operations and connectivity within the country and across the region.

Skilled Workforce

Thailand has a sizable and skilled workforce, with competitive labor costs compared to many developed countries. The country has a strong education system and vocational training programs that produce a pool of talented professionals.

Sources: Office of the Higher Education Commission, data 
as of 13 February 2017; Office of Vocational Education 
Commission, data as of 25 January 2017, and; Office of the 
Education Council, data as of 26 February 2017. 

Robust Tourism Industry

Thailand is renowned for its vibrant tourism industry, attracting millions of visitors each year. This presents opportunities for businesses related to hospitality, travel, entertainment, and retail.

Cultural Richness

Thailand's unique culture, heritage, and traditions make it an appealing destination for many tourists and entrepreneurs alike. The blend of modernity and traditional values creates a diverse and vibrant environment for businesses to thrive.

It's important to note that starting a business anywhere comes with its challenges and considerations. It is advisable to conduct thorough market research, understand the legal and regulatory requirements, and seek professional advice before establishing a business in Thailand or any other country.

One additional advantage of starting a business in Thailand is the availability of comprehensive professional services tailored to meet your specific business setup requirements. Witsaroot L&L exemplifies this by offering a wide range of legal and business solutions in a single place. We assist clients in navigating the intricacies of starting a business, even if they lack initial knowledge or direction, ensuring that solutions are readily provided from the outset.