Most Profitable Business Opportunities in Thailand

Boasting one of the largest economies in the world and the 2nd largest in Southeast Asia Thailand abounds with industries and other commercially driven companies. The nation holds the 6th place in Asia for ease of doing business. With this favourable backdrop, the nation is a sought-after location for expanding existing operations or venturing into new businesses. Discover some of the lucrative business opportunities in Thailand.

Tourism Related Businesses

Ranking in the 8th position as the most popular destination in the world, tourism is a thriving industry in Thailand. Despite the setbacks due to the COVID-19 pandemic, arrivals are gaining pre-COVID momentum with Phuket resorts attracting large numbers of visitors as are other popular destinations of Thailand at present

This highly lucrative industry contributes approximately 8 pct to the GDP of Thailand and creates many jobs for locals while providing many opportunities for start-ups.

Tourism Agencies – Arranging domestic itineraries for inbound visitors’ tourism agencies build partnerships with transport providers, guides and hotels to offer a comprehensive package for visitors.

Tour Guide Services - A much-needed service to have the tourism industry prospering. Tour Guides handle sightseeing excursions, tailor adventure packages, city tours and more to have visitors visiting different parts of Thailand such as Bangkok, Phuket, Chiang Mai etc. throughout the year.

Photography – Capturing memorable moments is in demand as visitors love to carry professional images of special moments in Thailand. Offering services of freelance photographers or photography studios in touristic locations. This is in demand by many

Online Businesses

Launching an online business in Thailand is a profitable venture with a growing number of digital-savvy consumers. They can be from Thailand or even a global clientele. Would-be entrepreneurs would benefit immensely. These online start-ups can be as follows.

IT and Software Services – This segment has a high demand for cloud-based software models (SaaS), developing mobile apps and other software solutions for global customers. With the high IT skilled workforce in Thailand offering competitively priced packages is possible.

Freelance Services – Offering these services such as digital marketing, writing, graphic designing and more freelancing is an easy start-up which requires minimal capital.

Franchise Operations – Having an international franchise started in Thailand is another lucrative avenue of business as the Franchise provides the business model, training, branding etc. Popular franchise operations have succeeded in Thailand such as AMAkids, Wayback Burgers etc.

Food and Retail Business

With a huge population, the consumer market is huge in Thailand having many openings for food and retail businesses to prosper.

Restaurants – With many visitors thronging to different parts of Thailand restaurants keep doing brisk business close to tourist hotspots and surrounding areas. Offering authentic Thai dishes along with international food combinations is a great way to attract visitors.

Convenience Stores – Convenience Stores are a great attraction in Thailand with both large- and small-scale operations doing well in residential neighbourhoods around the country.

Street Food Stalls – Operating with narrow margins and high volume, this is a fast-selling business which requires only a small capital.

Accommodation

Hotels and Hostels have grown rapidly in different parts of Thailand. Yet, there is more demand for accommodation in touristic areas such as Phuket.

Although reputed star-class accommodations like Anantara Mai Khao Phuket Villas cater to discerning visitors, adding more room nights in popular cities remains a valuable investment opportunity, despite the considerable cost.