The economy of Thailand is heavily dependent on exports, which accounts for more than two-thirds of the country's gross domestic product. Thailand itself is a newly industrialized country, with a GDP of 16.316 trillion baht in 2018, the 8th largest economy of Asia, according to the World Bank

Recent Macro

Recent Macro

  • GDP expanded 2.4% YoY in Sep 2019, following a growth of 2.3 % in the previous quarter. 

  • The data reached an all-time high of 15.3% in Dec 2012 and a record low of -12.2% in Jun 1998

  • The World Bank downgraded Thailand's economic growth outlook for 2020 to 2.7%, but the latest revised figure is still higher than the bank’s growth estimate of 2.5% for last year

  • Thailand ranked 21st in the World Bank’s Ease of Doing Business Index

  • The Gross Domestic Product per capita in Thailand was last recorded at US$ 6361 in 2018

  • GDP per capita in Thailand averaged US$ 2710 from 1960 until 2018 (source: World Bank)


Key Info

Key Info


  • Currency of Thailand is the Thai Baht (THB)


  • Tropical monsoon climate with high humidity

  • Mean annual temperature of 27℃ (82°F)

  • 3 distinct seasons: Hot season March - May; Rainy season June - October; Cool season November - February 


  • Withholding tax rate is set progressively based on the appraised value and years of ownership

  • Stamp duty of 0.5% is paid by the seller at point of sale of property


  • Travel & Tourism in Thailand grew by 6% in 2018 - almost double the global average of 3.9%

  • Number of international tourist arrivals to Thailand in 2018 reached 38 million people, up 7.1 percent YoY. 40 million arrivals are forecast for 2019

  • Revenue in the Hotels segment is forecast to amount to US$ 1,351m in 2020

  • The average revenue per user (ARPU) currently sits at US$166.70

  • Chinese tourists account for 27% of all international arrivals


  • The property market cooled in 2018, with price increases of around 2-3% 

  • Foreigners may own condominium properties as freehold provided 51% of units in the condominium are available to local ownership

  • Foreigners cannot own land but may purchase a leasehold interest in it for 30 years which is then renewable

  • Legal fees tend to be a fixed cost (up to 2%) and stamp duty is paid by the seller
Enquiry form
Close form

Contact form

We love to share new opportunities. We hope you will sign up below so you can be the first to hear about these. Alternatively, let us know what is of interest and we'll share specific information.