Thailand is a newly industrialized country. Its economy is heavily export-dependent, with exports accounting for more than two-thirds of its gross domestic product. Thailand is the second-largest economy within ASEAN. Described by the World Bank as “one of the great development success stories” for its progress in social and economic development, the country remains on an upward trajectory. Thailand is a very popular Tourist Destination even though it accounts to just 7% of its GDP. It has become a Hub for Agriculture, Marine and Hardware exports. Thailand’s investment this year as a percentage of GDP is set to reach 30%, outstripping the 24% global average, 19% for advanced economies, 18% for countries in the euro zone, 17% for the US and 15% for the UK. The increased investment will also help to offset the impact of the global economic downturn in China, Europe and the US which purchase the bulk of Thailand’s exports.
Gateway to Asia- Thailand enjoys a strategic location and serves as a gateway into the heart of Asia – home
to what is today the largest growing economic market.
The country also offers convenient trade with China, India and the countries of the
Association of Southeast Asian Nations (ASEAN), and easy access into the Greater
Mekong sub-region, where newly emerging markets offer great business potential.