With the pandemic starting to end, many people are now looking for investment opportunities. If you are considering an investment in the Thai market, you may not be sure where to begin. The country is modernizing and the economy is growing.
Furthermore, it has a substantial community of international residents. In this article, we will analyze some of these business ideas and investment opportunities in Thailand.
Since Thailand is one of the main transportation hubs in Asia, the import/export industry is thriving. Multiple transportation avenues cross through Thailand and its harbors make it even more appealing. Either setting up an import/export company or investing in one that’s already listed would make a great move.
Furthermore, the large expat community in Thailand makes it a good market for European or North American goods. Both locals and foreigners are willing to pay higher prices for goods of greater quality.
Real Estate Industry
The real estate sector accounts for 6% of Thailand’s GDP. It is also one of the largest contributors to the country’s overall economic growth. Investing in either land or real estate is a great idea as the prices continue to rise throughout Thailand’s continued development and modernization. Foreign investors often fear that buying land or real estate abroad will be difficult logistically. However, in Thailand, you can start a locally registered real estate company and thus avoid a lot of bureaucratic red tape.
Most expats looking for real estate in Thailand acquire the services of a specialized company and the demand for such services is on the rise. The opportunities are endless when it comes to investing in Thai real estate. You can set up a local team with relatively low costs if you’re doing so from the UK or Europe. This enables you to break the language barrier and attend to local customers as well, not just expats.
Translation & Content Industry
This next investment idea is also related to Thailand’s growing expat population. It’s not a secret that many Westerner freelancers choose the country as a place of residence. They choose to live and work in Thailand because of the low cost of living, amazing weather, and jaw-dropping landscapes. This unique combination sets the perfect environment for investing in translation services. All the foreign documents need to be translated into Thai for temporary visas or residency.
Also, despite the vast expat community and continuous modernization in recent years, the percentage of the English-speaking population is still quite low – around 27%. And this figure includes the non-natives as well. Therefore, lots of Thai companies require the services of English translators. According to a census from 2011, there were around 45,000 Thai-born residents in the UK. So you won’t even have to set up your business in Thailand, there are also opportunities to base the business in the United Kingdom and operate remotely.
Street Food and Catering
Thais are huge fans of street food and the entire culture seems to be centered around socializing and eating. So, investing in a series of street food parlors would put you in a good position to make a profit. Especially now when it seems that the COVID restrictions are slowly being removed across the globe.
Of course, you should also consider the risks of investing in the food and catering business. You’ll surely face massive competition from the locals. Furthermore, if you’re not at all familiar with this sector, you’ll need to blindly trust a local partner. Perhaps it’s a better idea to start a Thai restaurant in the UK but that’s not the point of your goal is to invest in Thailand.
Car and Scooter Rental
Thailand gets around 40 million foreign tourists each year. Perhaps not all of them are interested in renting cars or scooters since choosing all-inclusive resorts for the entire trip seems to be the norm. However, even if 10% of those 40 million travelers require a car or scooter, a rental business makes a lot of sense.
You’ll find cheap local cars and scooters while the costs for insurance and other taxes are nothing compared to the UK. If you’re thinking about this type of investment, note that you’ll need to partner with someone local. The language barrier is the main reason why you’ll need a Thai partner and you’ll also want someone on the premises to handle client interaction.
Casino Management Systems Market
According to the Ministry of Digital Economy and Society, online Thai casino websites earn $32 million USD annually. With that, the casino management systems market is growing, as the online industry expands. This may very well be a lucrative investment opportunity. Some of the biggest software providers are Win Systems, Ensico, Playtech, Scientific Games, Chetu, Advansys, APEX pro gaming, and Zeta Gaming.
These software providers are focused on ensuring that their games are mobile-friendly, as many people in Thailand and around the world own a smartphone but do not necessarily own a laptop or desktop. This is especially true for young people.
These are just a few of the numerous opportunities Thailand provides to UK investors. As stated in the introduction, the country is very appealing in terms of investing paths one can pursue. However, out of all the possibilities, we consider these to be the ones with the best chances to succeed considering the current trends.
Depending on how much you’re prepared to invest, investing opportunities could spread to the IT sector, jewelry design, or a tourism agency. Always start with a business plan to put everything on paper and see if it makes sense for you!