Business Etiquette Greeting – Five general-rule simple steps to giving a positive and confident greeting; 1) look the person you are greeting in the eye, 2) give a firm handshake, 3) greet them by name, 4) clearly and slowly say your own name, and 5) smile. Or if you want to give a traditional Thai greeting… Continue reading Business Etiquette
Digital Economy With the world digitising at an unprecedented rate and emerging markets vying for the attention of foreign investors, Thailand’s success in this regard will depend on how well it is able to build its digital capabilities. The internet economy will certainly be an important generator of future growth, and as such, it is… Continue reading Digital Economy
Foreign Direct Investment FDI by sector – Foreign Direct Investment net inflows in Thailand equalled US$ 2.48 billion in the year 2021 with ‘Manufacturing’ and ‘Financial and insurance activities’ receiving nearly 70% of total FDI. Manufacturing was a clear favourite among foreign investors, far surpassing the investments received by other sectors. Chart 1 below, indicates… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT)–The prevailing standard CIT rate in Thailand is 20%. A comparative overview of seven major ASEAN economies, as seen in the chart below, indicates that Thailand’s CIT rate is not only below the average but is also one of the lowest among these markets. This makes Thailand one of the… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking – According to the World Bank, doing business in Thailand is very easy. Thailand is one of the highest performing countries in the global Ease of Doing Business Index, having ranked 21st in the year 2019. As seen in the chart below, this rank puts Thailand far… Continue reading Ease of Doing Business
Government Structure and Society Thailand is a constitutional monarchy with the monarch as the head of state. While almost every government since 1932 has accepted constitutional authority, the country has had 17 constitutions, the most recent drafted in 2017. All of these documents have provided for a National Assembly with a prime minister as head… Continue reading Government & Society
Demographic Advantage Population – As the 11th most populous country in Asia, The Kingdom of Thailand is home to nearly 70 million people. However, projections regarding the country’s population growth remain bleak given its consistently declining growth rate, which stood at 0.22% in the year 2020. Thailand’s population alone does not afford it much of a demographic advantage, but when it… Continue reading Demographic Advantage
Historical Background The Kingdom of Thailand has a rich and unique history dating back to the early 1200s. Centuries of rule by absolute monarchies, invasions by the Burmese Kingdom, endeavours to fend off European colonialism and internal revolutions demanding greater freedom have all amalgamated to offer the country of Thailand, formerly known as Siam, an… Continue reading Historical Background
COUNTRY HIGHLIGHTS Thailand > Country Highlights COUNTRY HIGHLIGHTS FOR THAILAND Map of Thailand Geography The 50th largest country, second largest in Southeast Asia, similar in size to Spain. Total Land Area513,120 sq km/198,116 sq mi CapitalBangkok GDP in US$ (Billion) Global Ranking (2021) 26 Economy Currency baht (฿)THB 34.23/US$ (April 30, 2022) Major Economic SectorsAgriculture… Continue reading Country Highlights
