Our Market

Below provides a profile of the Thai market overall and interesting facts and information about issues important to both Thais and foreign executives working in Thailand.

Geographic Profile

The Kingdom of Thailand lies in the heart of Southeast Asia. It is bordered to the north by Burma and Laos, to the east by Laos and Cambodia, to the south by the Gulf of Thailand and Malaysia, and to the west by the Andaman Sea and the southern extremity of Burma. Its maritime boundaries include Vietnam in the Gulf of Thailand to the southeast and Indonesia and India in the Andaman Sea to the southwest.  The capital city is Bangkok, the country's center of political, commercial, industrial and cultural activities. Its primary religion is Buddhism, practiced by around 95% of all Thais.

Total Area
513,120 km2

Population
65,998,436

Official Language
Thai

Currency
Baht (THB)

Political Structure
Parliamentary Democracy and Constitutional Monarchy

Economic Growth

According to Thailand’s Ministry of Finance, Thai economy in 2011 is forecasted to continue to grow at 4.5 % (or within the range of 4.0 – 5.0 %). The main driver behind this growth is its private domestic spending, both consumption and investment, which is projected to continue to grow from 2010. Private consumption is forecasted to grow at 4.9 % (or within the range of 4.4 – 5.4 %) as employment and income still remain promising. Private-sector employees’ minimum wage and government officials’ pay are being raised, along with tourism income forecasted to revive after the political situation reverts to normal. Private investment, on the other hand, is projected to grow at 11.3 % (or within the range of 10.3 – 12.3 %), with improving investor confidence combined with higher capital utilization especially in export-oriented industry that has stood high since 2010.

Work Visa Information

Foreigners who wish to work, conduct business or undertake investment activities in Thailand must apply for a Non-Immigrant Visa at the Royal Thai Embassies or Royal Thai Consulates-General.  Various categories of the Non-Immigrant Visa are currently provided to meet the needs and qualifications of individual business persons. These include business visa Category “B”, business-approved visa Category “B-A” and investment and business visa Category “IB”.  Holder of this type of visa wishing to work in Thailand must be granted a work permit by the Ministry of Labor before starting work.

Useful links:

www.bot.or.th  (Bank of Thailand)
www.moc.go.th  (Ministry of Commerce)
www.mfa.go.th  (Ministry of Foreign Affairs)
www.rd.go.th  (Revenue Department)
www.immigration.go.th  (Immigration Bureau)
www.eng.mol.go.th  (Ministry of Labor)