Thailand is the second-largest economy in Southeast Asia, recognized by the World Bank as ‘one of the greatest developmental success stories in both social and developmental indicators. Tourism is one of the biggest economic factors in Thailand, contributing an estimated 12 trillion baht to the Thai economy each year. Bangkok, which is one of the largest cities in Thailand and a major destination for tourists and ex-pats, is becoming an increasingly popular destination for entrepreneurs. Whether you’re are a resident or non-resident, you can start your own business in Thailand. Here are some of the most profitable ideas to consider.
#1. Baby Items:
Whether you’re thinking of starting a physical store or are selling online with delivery to Thai addresses, the global baby care market is booming and expected to grow very fast over the next few years. The major growth driver for this is the products that are used for longer periods by parents and infants and today’s parents around the world want to invest money in the best products for their little ones. And with more ex-pats moving their families to Thailand, you’ll have a growing market of both locals and foreigners.
If you love to cook, then a catering business could be the perfect idea for you. In addition, if you’re highly skilled at cooking Thai food, then you’ll have a large market of tourists and ex-pats who’re willing to pay for cooking classes so that they can get better at creating the favorite local dishes. In Thailand, you could be catering for weddings, festivals, and many other events. It’s a profitable business but it does require stamina and motivation to succeed.
#3. Wedding Planning:
With stunning beaches and very affordable wedding packages available, it’s no surprise that more and more couples are making the decision to start their lives as husband and wife together in Thailand. Since it’s such a popular wedding destination, good wedding planners are always in high demand. As a wedding planner, you’ll be working with local couples or communicating with couples from overseas who need somebody that they can trust to arrange their big day for them before they arrive.
#4. Hotel or Hostel:
If you’re in a position to invest in property in Thailand, starting your own hotel or hostel could be an extremely profitable business idea. Check out furniture stores Bangkok where you can find modern, affordable furniture to create comfortable rooms that travelers will love staying in. Appeal to young travelers on a small budget with a cheap hostel or open a luxurious hotel that’s aimed at travelers with money to spend.
#5. Digital Marketing Agency:
Digital marketing is one of the most lucrative opportunities in the advertising industry. If you want to start a business in Thailand that allows you to explore the country and travel whilst you earn money, it’s ideal, as all you’ll need to offer your services to clients is a laptop and working internet connection.
These are just a few great business ideas that you can start when you move to Thailand. Which would you choose?