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 and is the 23rd largest economy in the world by GDP.

Recent Macro

Recent Macro

  • GDP contracted in 2020, due to the Coronavirus pandemic, but 2021 has seen a positive start, with growth up 4% from 2020

  • 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$ 7,809 in 2019

  • GDP per capita in Thailand averaged US$ 2,126 from 1960 until 2019 (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 2019 to an industry revenue of US$ 62bn

  • Number of international tourist arrivals to Thailand in 2019 reached 39.7 million people, up 4.2% from 2018

  • The average revenue per user (ARPU) currently sits at US$167

  • Chinese tourists enjoy travelling there and account for 27% of all international arrivals


  • Property prices between 2009 and 2021 had an average growth rate of 5.8%

  • 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
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