Southeast Asia Markets

Thailand

Thailand, with a nominal GDP of approximately $549 billion in 2023, is the second-largest economy in Southeast Asia. Future growth is expected to be driven by tourism, exports, and government stimulus measures.

Home to around 71 million people, Thailand has a labor force exceeding 40 million, with about half residing in urban areas. The workforce remains youthful, with a significant portion under 35, supporting the nation’s economic growth.

Thailand’s economy is diverse and increasingly competitive, with the service sector – particularly tourism – serving as its backbone. In 2024, tourist arrivals surged to 36.1 million, nearing pre-pandemic levels, and are projected to reach 41.1 million in 2025. Key industries driving growth include electronics (notably computers and components), automotive (with a focus on electric vehicles), food processing and agriculture – where Thailand ranks as a global leader in rice and rubber exports.

The Thai government is steering the nation toward a digital future, prioritising accessible digital infrastructure nationwide. Initiatives such as the 'Digital Thailand' vision aim to foster job creation in tech sectors and develop a thriving digital ecosystem. Policies like the virtual bank licensing framework, introduced in 2024, underscore efforts to enhance financial inclusion and adapt to evolving digital consumer trends.

Thailand remains a top destination for foreign direct investment in Southeast Asia, supported by its open, market-oriented economy, streamlined regulations, competitive tax rates and trade-friendly policies. The Eastern Economic Corridor (EEC) continues to attract investment in high-tech industries, with capital inflows bolstering manufacturing and green energy projects.

Get in touch to discuss how we can help you expand in Thailand.

"We never expected the opportunity to meet these big corporations in Thailand – we couldn’t have asked for anything more from the service you provided."

Australian brand – Dairy-based formula milk

Thailand Leadership

Kanokthip Tiraretsema (Lek)

Country Manager, Thailand

Lek leads our Thailand operations, with two decades' experience in business matching, market research and consulting.

She has advised companies in technology, healthcare, energy, automotive, financial services and the public sector, helping them identify growth opportunities and establish influential industry connections.

Lek holds a BA in Marketing from Kasetsart University and an MBA from The American University in the US.

Southeast Asia – Semiconductors

This report provides an overview of the opportunities for overseas companies in Southeast Asia's semiconductor industry.

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This report provides an overview of the opportunities in enterprise technology within Singapore and Malaysia, market entry strategies and explored the latest trends and developments that tech firms need to consider when growing their business in the two countries.

Key tech sectors covered include: AI, big data, ML, IoT. Key industries covered include: logistics, manufacturing, energy, healthtech and more.

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