Thailand was placed No. 10 in the most current list of the 12 most developed Asian nations put together by Yahoo! Finance.
On the Human Development Index Score, which took into account per capita GDP, research and development (R&D), and the presence of significant multinational corporations, the nation received a score of 0.80.
According to the report, Thailand’s service industry would make up 58.3% of the country’s GDP in 2020, according to government spokesman Anucha Burapachaisri.
The output of industrial manufacturing in Thailand increased by 7.31% in 2021 compared to the previous year, bringing in a total of US$137 billion (4.7 trillion baht).
Thailand’s human development score for 2021–2022 was an impressive 0.80, and in 2020, the nation allocated 1.14% of its GDP on R&D.
Also: uptick in new company registrations
With registered capital of 20.9 billion baht, the number of new business registrations increased by 6 percent annually from 7,972 to 8,466 as a result of the tourism industry’s quick improvement and stronger economic growth. Almost 20% of new registrations are in the building, real estate, and food and beverage businesses.
These three categories saw an increase of nearly 11% over the previous year. The government estimates that between 72,000 and 77,000 new enterprises will have been registered overall this year.
For any help starting a business in Thailand contact us
