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.
Thais are always loyal to the kind of business they love, so the best option is to start a company that will attract them. It will be a mistake to target a foreign market instead, as you will get less profit and you will be unable to develop your business.
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.
After revealing all these facts, we should conclude that targeting mainly local people is the best Thailand finance advice that businessmen can follow. The most lucrative and profitable industry in Thailand seems to be the food industry due to the three main reasons: first, Thais prefer to eat in groups rather than alone; second, the influence of Western food starts to prevail over the local kitchen and third, apartments in Thailand usually do not have ovens, stoves and other kitchen appliances.
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.
So if you are thinking about opening a profitable business in Thailand, you can start your fast food restaurant, or another kind of restaurant, which can offer a comfortable atmosphere for locals to dine out. Such restaurant will surely attract tourists too, if you add some local meals that will represent Thai traditions.
Mobile food trucks are also profitable for this area. They will work well in Bangkok and other big cities and will quickly gain popularity among scholars and workers who search for cheap and tasty food.
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.
Thais are always loyal to the kind of business they love, so the best option is to start a company that will attract them. It will be a mistake to target a foreign market instead, as you will get less profit and you will be unable to develop your business.
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.
After revealing all these facts, we should conclude that targeting mainly local people is the best Thailand finance advice that businessmen can follow. The most lucrative and profitable industry in Thailand seems to be the food industry due to the three main reasons: first, Thais prefer to eat in groups rather than alone; second, the influence of Western food starts to prevail over the local kitchen and third, apartments in Thailand usually do not have ovens, stoves and other kitchen appliances.
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.
So if you are thinking about opening a profitable business in Thailand, you can start your fast food restaurant, or another kind of restaurant, which can offer a comfortable atmosphere for locals to dine out. Such restaurant will surely attract tourists too, if you add some local meals that will represent Thai traditions.
Mobile food trucks are also profitable for this area. They will work well in Bangkok and other big cities and will quickly gain popularity among scholars and workers who search for cheap and tasty food.
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