Great many foreigners would like to take advantage of the opportunity to open their own business in Thailand. However, most of them do not know where to start from and which is the biggest moneymaking industry in Thailand. The following Thailand finance advices will help you find the greatest Thailand's industry to invest money in.
The specifics of Thai demographics are the first thing you need to learn to be able to start successful business in this country. Since the foreigners are only a small percentage of the Thai economic, it is wise to not target tourists only. You will benefit more, if your business targets locals and tourists alike, so that you will get enough number of clients and bigger earnings.
Invest in a business that is well-liked by local people and that does not have too much competition. For example, if you intend to open a go go bar, you will lose the local people due to the ethical and moral reasons that would not allow them to attend your bar. Targeting foreign customers only will lead to losses, as there are many other venues like this that would attract them.
Keep in mind that if Thais love your business, they will keep coming back to you, so targeting a foreign market only will be a big mistake in terms of making good profits and gaining popularity.
Before catering your business to foreigners only, take into consideration the fact that tourism can be affected by military coups, which take place once every decade. This might greatly affect your business if it is targeting foreigners.
Taking all these factors into account, we can conclude that the most profitable business in Thailand is the one that targets locals mainly. The best option to go for is food industry because of the following three reasons: firstly, local people don't like to eat alone but rather in groups; secondly, just like everywhere, Thai kitchen starts giving up its place to Western foods and third, most apartments are not equipped with kitchen appliances like ovens or stoves.
Thais prefer to eat together with their friends outside, as their apartments usually are too small to accommodate large groups. Bangkok workers usually eat on the go due to their busy lifestyle and Western influence. Traditional meals with rice are now replaced with breads or sandwiches, pastries and coffee for the beginning of their working day. Thais regularly visit fast food restaurants to have a lunch and dinner with their family and friends.
Since food industry is considered to be the biggest moneymaking industry in Thailand, opening a fast food restaurant here will be a great business opportunity for you. If you want to attract locals, just provide comfortable atmosphere where they can dine out together. If you would like to attract foreigners as well, add some traditional Thai meals in the menu too.
You can even opt for opening mobile food trucks that will greatly benefit you in a capital and other Thai cities. They will soon gain popularity and attract both young people and workers who are too busy and would like to eat on the go.
The specifics of Thai demographics are the first thing you need to learn to be able to start successful business in this country. Since the foreigners are only a small percentage of the Thai economic, it is wise to not target tourists only. You will benefit more, if your business targets locals and tourists alike, so that you will get enough number of clients and bigger earnings.
Invest in a business that is well-liked by local people and that does not have too much competition. For example, if you intend to open a go go bar, you will lose the local people due to the ethical and moral reasons that would not allow them to attend your bar. Targeting foreign customers only will lead to losses, as there are many other venues like this that would attract them.
Keep in mind that if Thais love your business, they will keep coming back to you, so targeting a foreign market only will be a big mistake in terms of making good profits and gaining popularity.
Before catering your business to foreigners only, take into consideration the fact that tourism can be affected by military coups, which take place once every decade. This might greatly affect your business if it is targeting foreigners.
Taking all these factors into account, we can conclude that the most profitable business in Thailand is the one that targets locals mainly. The best option to go for is food industry because of the following three reasons: firstly, local people don't like to eat alone but rather in groups; secondly, just like everywhere, Thai kitchen starts giving up its place to Western foods and third, most apartments are not equipped with kitchen appliances like ovens or stoves.
Thais prefer to eat together with their friends outside, as their apartments usually are too small to accommodate large groups. Bangkok workers usually eat on the go due to their busy lifestyle and Western influence. Traditional meals with rice are now replaced with breads or sandwiches, pastries and coffee for the beginning of their working day. Thais regularly visit fast food restaurants to have a lunch and dinner with their family and friends.
Since food industry is considered to be the biggest moneymaking industry in Thailand, opening a fast food restaurant here will be a great business opportunity for you. If you want to attract locals, just provide comfortable atmosphere where they can dine out together. If you would like to attract foreigners as well, add some traditional Thai meals in the menu too.
You can even opt for opening mobile food trucks that will greatly benefit you in a capital and other Thai cities. They will soon gain popularity and attract both young people and workers who are too busy and would like to eat on the go.
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