Many companies have broken into Thai market and many are planning to do so, considering the market scenario of the Thailand, perception have it that this trend is not going anywhere in the near future. Those who want to expand their business to Asia, they are more likely to consider Thailand for business start-up, to make business connections and expand already established business.
Where Thailand is having many industries to strengthen its export, it is no wonder that prospects of doing business in Thailand are high. If you are thinking to expand your business to foreign market, then it is time for you to consider Thailand either.
Below are given few of the reasons that govern the reason that why it is important for you to consider Thailand for expanding your business:
- Application Procedure and Policies:
Thailand has developed quite soft policies for businesses; making business development seamless in Thailand. Similarly, application procedure for business in Thailand is also quite easy – starting from submitting application and all other bureaucratic steps for approval, everything is quite easy and encouraging to apply.
- Welcoming Culture:
Though, it may not be very significant for many people, but culture do cast impact on the success of the business and its growth is also determined by the cultural values and norms. What if people of certain region are too centered and do not welcome foreign products and investors? Sounds difficult to thrive for a business in such conditions? Well, prospects of encountering any such problem in Thailand are very minimal, because Thai culture is very generous and people are well known for their hospitality and kindness. This welcoming culture makes it possible for businesses to thrive easily without facing any cultural barriers.
- Growing Economy:
Thailand is more of just a beautiful place for outsiders, it is also being regarded in terms of fast growing economy. Its export sector and local market are strong enough to boost its economy – which is actually happening. Besides this, it is also having a well-established infrastructure and system to foster the business and foreign investments.
- Strong Tourism Industry:
Thailand is famous for its beautiful sites, beaches, culture and other tourist attractions that its tourism industry is getting stronger day by day. Considering this, it is quite imperative that Thailand will never be short of consumers. Besides its local consumer market, it also gains a huge chunk of share from the tourists – this is not going to end soon.
- Language of Business:
Thailand has given a significant significance to English language and it is being taught at universities and colleges, so language is not a huge barrier in business development. Moreover, some other languages like French and German are also being spoken here. However, we cannot deny the fact that 85% of the Thai people speak Thai, but the good part is that this hurdle can be removed by hiring professional company offering English to Thai translation service, to make the communication and business establishment easier and seamless.
Considering all these facts regarding doing business in the Thailand, it seems that Thailand is an important country for doing business with government and local bodies ready to help new investments and business to the fullest.