Thailand is becoming one of the main hubs for business because of certain contributing factors like – the location of Thailand is in the middle of Asia, the steady economy of the nation and cheap labor cost to name a few. There are a lot of strong business opportunities in Thailand which are hoping to grow their current organization in their nation of origin into Asia, and there are some that want to start a new business on their own in Thailand.  Here is a choice of some of the top industries that provides the best business opportunities in Thailand and the reasons why you should invest in one of these industries.

• Translation services – The huge number of outsiders and global brokers working together in Thailand encourage the consistently expanding requirement for translational services. The companies and the individuals reliably need significant records, for example, deals and different kinds of authoritative reports deciphered from their main language into Thai and the other way around. This is one of the best segments for starting a business in Thailand. We all know that English is the main language that is used throughout the world but in Thailand, the comprehensive use of English is low. Therefore, most of the companies require a translator or outsource their translations to another agency. Hence, it will be a good option if you set up your own agency in translational services. You can start business in Thailand on translational services of not only one language but of different languages. Since Thailand is now a part of ASEAN; most of the companies need to translate dialects in Korean, Japanese, Chinese and others to maintain international relations with them. So you can really earn a good profit if you provide the important translational services. It will be a worthwhile business opportunity here if you can set up a gifted group of interpreters, editors and advertisers. Keep in mind even the famous translational companies in Thailand tend to provide only few dialects. So, if you are able to market your services properly, provide affordable rates for the services and set up highly professional and skilled experts and editors in a wide range of language, then you will surely get a lot of success in this field.

• Real estate companies – Buying and selling of property is a big business in Thailand. The real estate costs are rising and are helping in providing great opportunities in business. This is especially in case of the foreigners who find it really difficult to buy a property. They take help from the agents who will help them to find a new property by taking a certain amount of fee. So, if you are looking for business for sale in Thailand, you can explore a lot of opportunities in this particular area with ample amount of profit as well. Well now, the question is how much profit can you earn? The foreigners look for agents who collaborate with the Thai owners in order to make sure that every part of the sale goes smoothly. If you set up agency with good expert agents, the foreigners will come to you for helping them in buying a property and in return they will pay you a commission. The commission price is usually 10% of the requesting price and if it is for big hotels and resorts, then the commission is excessively high. So, if you have a good marketing team and a strong sales team who can advertise the properties in the best manner, then it is likely to earn a lot of money from this industry.
• Restaurant and food joints – The restaurant & food industry is one of the best ideas of opening a business in Thailand. The people in Thailand are extremely busy with their work and therefore, there is a lot of profit in this sector. The snacks, burger joints, and fast foods sell very well in Thailand. There are certain food outlets here that specialize in not only Thai cuisines but also other foreign cuisines like Italian, Chinese, Indian and others. Another contributing factor for such a popularity of the food business is the large number of tourists that come here for vacations. You can set up a restaurant or food joint here. Rather than selling only the local dishes, you can incorporate foreign cuisines especially the ones which most of the restaurants do not specialize here, can likely attract a lot of customers to your restaurant. It is definitely a profitable option if you are thinking of setting up business in Thailand. The chefs of your restaurant can blend some of the cuisines together to create an innovative dish, for example, the Thai and Chinese ingredients can be used together to create Thainese dishes. To bring new innovations, it is important to hire the right chefs and charge affordable prices so that everyone can enjoy! Thailand boasts of expert chefs and food makers who are specialized in all areas of the hospitability segment. This will be easy for you to choose a group of chefs for your restaurant that will help you in adding innovative menus and delicious recipes for your restaurant.
• Travel and tour companies – Most of the tourists take help of tours and travels operators for buying packages to Thailand tour. There are now international travel companies coming up to serve clients from both parts of the world. You will find a lot of companies offering tours and travel services but the biggest benefit of the international companies is that it helps the needs of the international tourists along with a tour guide of their preferred language. Over the most recent couple of years, there has been a sharp ascent in the quantity of Russian and Chinese explorers coming to Thailand and vacationers from these nations will, in general, have significantly more cash to spend than Thai visitors and will take help from Thai tour operators so that all of their needs and requirements can be taken care of. Global organizations that can build up solid business services with the tour and travel business in Thailand will most likely offer their customers the best rates along with high-quality services that will definitely satisfy their high needs. If you are planning of doing business in Thailand, then you can definitely choose this industry. The needs of the tour and travel package are in high demand because of the increasing number of tourists in Thailand.
• Cab rental services– Though the number of tourists visiting Thailand for both vacation and business purposes are huge, the real market gap lies in the rental cab services which are limited and is waiting for a big business scope to be filled in. You will find a lot of car dealers here and therefore, purchasing a first hand or a second car is relatively an easy task.  Also there is a demand for high cab services in some of the essential locations of the place like the airports, some of the major hotels and train stations.  You really have a huge scope for doing business in Thailand and you can also develop relations with foreign cab companies in their own country. When you give the travellers an option to book online cabs from beforehand and arrive during pickup on the landline date, the customers feel secured and they save a lot of time in sorting out the transport means after their landing. If you wish to set up cab Rental Company, one of the best things that you can do is provide a driver along with the rental cabs. This will be highly beneficial for those tourists who wish to explore the country without the hassles of transportation at their own pace but do not have a foreign driver’s license to drive the cab. Most of the foreign tourists do not have that. This is where you can earn a lot of profits.
• Healthcare businesses – Another scope for doing business in Thailand is in the medical and healthcare areas. The demand for medical services is quite high in Thailand among the expats, Thai people, and the tourists who come here for business and vacation purposes. Thailand has become extremely popular as one of the leading providers of medical facilities in Asia and there is no shortage of the professional and doctors here. But with the population surge and increasing demand for the healthcare standards, you will find a lot of business for sale in Thailand for more healthcare services. Another prospect for doing business is the medical tourism industry. A lot of tourists come from USA or Australia to do their surgeries or other operations in Thailand for its lower costs. Few of the examples of medical procedures for which the Thailand medical tourism is popular are as follows: breast augmentation, dental surgeries and cosmetic surgeries. Organizations that can speak to worldwide customers and give completely customized packages that incorporate fantastic aftercare services are certain to find this is a worthwhile business in Thailand for outsiders and Thai nationals.

These are some of the best business scopes in Thailand and you should invest or start a new business of your own in one of these leading and profitable industries to maximize sales and profit of your own company. Nothing can be more fulfilling than owning your own business.  Apart from the above mentioned business opportunities; there are some other industrial area where you can take a look at – garments, jewelry, freelance writing and so much more. Before starting any business in Thailand, first make an analysis of the market conditions and only then get started with it.

Interesting Reads : 

• Market Entry Strategy in Thailand
• Growing and scaling a successful social enterprise in Thailand
• What you should consider before doing business in SE Asia
• How to do business in Asia when you are not based in Asia

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