Thailand the New Startup Capital of Southeast Asia
Bangkok is the most visited city in the world welcoming 22.7 million international visitors. Thailand has long been known as a great destination for visitors of all kinds. Thailand is becoming the ideal place to set up businesses targeting the ever-growing middle class of Indochina and Southeast Asia as a whole.
Why Thailand is the ideal location to headquarter a startup based in Southeast Asia.
Ease of doing Business
There are a multitude of ways a foreign national can set up a business in Thailand with relative ease. The Thai government understands the need to invest in areas of growth such as manufacturing, high end services and digital technologies as such there are many incentives for businesses whether local or foreign who invest in these areas through the Board of Investment (BOI).
Low Operating Costs
Thailand has a very established private sector catering to various business needs, with a multitude of choice when it comes to the most business expenses. A very competitive rental, telecommunications and broadband sectors lead to big cost savings for businesses setting up in Thailand.
Highly Educated Workforce
Thai work force is filled with highly educated, globally traveled and multi-lingual employees. With the sheer amount of highly trained job seekers available it truly is an employer’s market. With most middle-class Thais going to Universities and completing ever popular exchange programs in the west.
Digitally savvy population.
Thais are one of the highest levels of mobile internet penetration in the world. From their heavy use social media, internet banking, digital payments and their use of a multitude of online technology in their daily lives. We have a population that this very tech savvy and very much plugged into the world through the internet. Allowing you to not only find customers for all kinds of digital services and products but also employees and partners who will comprehend the power of technology and its nuances relatively easily.
Thailand is all but set to become the ideal home for startups in Southeast Asia. If you as a business owner are looking for the greatest return for your investment with the least number of challenges in the region look no further than Thailand.