Why Thailand is thriving
Thailand as a nation continues to go from strength to strength and their construction industry is leading the way after being deemed one of the most exciting hubs for contractors in all of Southeast Asia.
In 2016 the Thai construction market had an estimated value of $41.4 billion, that figure is only expected to increase throughout 2017. With nearly half of that value $17.9 billion to be exact coming from the private investments its clear to professionals that investing in Thai infrastructure and property is an appealing option.
There has been vast investment channeled into improving the nation’s transportation network and expansion of the Eastern Economic Corridor leading to Thailand rapidly becoming a major economic player in Asia.
It is not just the construction sector that is growing in Thailand both their exports and tourism sectors continue to expand after exports of goods rose by 2.6%YOY, which is the highest growth seen in the past four years.
The number of tourists coming to Thailand over the first quarter also grew by 12% and there was a marked increase in the number of Chinese tourists coming to Thailand which increased by 32%.
All factors lead to an increase in revenue for the Thai government who are then reinvesting a large portion of that capital back into the country as announced recently as part of the mid-year budget which was set at 190 billion baht.
So for those looking to invest or start a new business, Thailand should definitely be high on your list of considerations.