The country of Thailand is a popular destination for tourists and business travelers alikeThe country has a rich culture, diverse landscape, and beautiful beachesThailand is also one of the most popular wholesale destinations in ThailandThis article will explore the top five reasons why Thailand is such an attractive destination for those who are looking to wholesale goods in Asia.
Thailand’s government has been pro-business for decades, which means that it’s easy to get a business license and start a company with little red tapeThe country’s low labor costs are also attractive to many businesses looking to set up shop thereThere are plenty of factories that operate at very competitive rates in Thailand, making it easy for companies to find affordable manufacturing solutions as well.
Table of Contents
Why You Should StartStart Wholesale Export Business in Thailand?
1The Gateway to Asia
Thailand is a country situated in the Southeast Asia region with its neighboring countries, including Myanmar (Burma), Laos, Cambodia, and MalaysiaTherefore, it is considered a strategic location that serves as a convenient “link” to other nations in the region, allowing for easier international business transactions, especially in the export business.
In addition, Thailand is one of the founding members of ASEAN and has been active in the formation and development of the ASEAN Free Trade Area, therefore reducing the import duties that businesses in the country have to pay.
Thailand is perfectly placed at the crossroads of Asia and offers easy access to the region’s dynamic markets, including its domestic consumer market of more than 66.17 million people in 2021 (according to BOI).
2Thailand’s 21st Rank on “Ease of Doing Business”
The World Bank conducts a yearly study on the “ease of doing business” in 190 different countries around the world that looks at domestic and medium-sized organizations, Thailand included.
In this ranking, Thailand is positioned at 21st out of 190 countries in 2020 (the latest available research)Receiving an overall score of 80.1 which is relatively high, when compared to the number 1 country, New Zealand receives 86.8 pointsMoreover, Thailand also obtains admirable scores on various topics such as:
- Starting a business: 92.4 scores
- Trading across borders: 84.6 scores
- Paying business taxes: 77.7 scores
Additionally, Forbes listed the country as the 8th best-emerging market in 2020This shows that Thailand is among the most successful countries in Southeast Asia for foreign businesses and foreign investors alike.
3Thailand’s Economy is Growing, Despite COVID-19
We all know that the COVID-19 pandemic has disrupted businesses across all sectorsAs a result, Thailand’s GDP fell6.2% in 2020 and the situation is considered the largest contraction since the Asian financial crisisDespite the setback, the country was able to grow back its GDP1.6% at the end of 2021Even though the COVID Omicron variant is still a significant issue, Thailand’s economy is expected to grow3.5 – 4.5% in 2022, drivenfiscal policy, exports, and investments from foreign entities.
As stated above, the country’s economy is in recovery and continues to gain positive momentum and starting a business here has never been easierIf you are an entrepreneur planning to launch a wholesale or export business, now is the best time to do so.
4Thailand Has a Strong Export Potential
Thailand is a country known for its “export-oriented” economy with 65% of its GDP coming from the export sectorAccording to sources, it is also ranked as the 24th country with the most goods and services exported, which are valued at over 270 Billion US dollars in December of 2021By the same token, Thailand’s exportsCountry in the top 3 positions are:
- The United States – 15% ($34.40 Billion)
- China – 13% ($29.76 Billion)
- Japan – 10% (22.88 Billion)
Furthermore, since the majority of export products are dealt at wholesale pricesa manufacturer or wholesaler, this means wholesale in Thailand is able to grow, due to its relation to the export businessSo, any wholesalers in Thailand would gain the opportunity to expand their business internationallyThus, it is undeniable that Thailand is one of the perfect places to elevate a wholesale and export business.
5Thai Government Support and Incentives for Foreign Investors
One of the reasons why many foreign entrepreneurs look forward to starting a business in Thailand is due to the support and incentives from the governmentThe Thailand Board of Investments (BOI) offers investors a wide range of different tax incentives as well as support services, duty exemptions, or reductions for activities that meet the national development objectivesYou can learn more about BOI support here.
Thailand’s BOI also coordinates the provision of a “One-Stop Service Center” for Visas and Work Permits, which makes it possible for foreign staff of BOI promoted companies to obtain work permits and long term visas more easily and takes less timeAs for the export sector, the Department of International Trade Promotion (DITP) provides individuals who are starting an export business in Thailand with essential support and a whole host of other services.
From all the 5 reasons, we can clearly see that Thailand is one of the best destinations to establish an export businessAs for entrepreneurs who are looking for the best wholesale products for their business.
Aec Trade Center – Pantip Wholesale Destination
The largest and most comprehensive wholesale center in the Southeast Asia region.
With the concept, Food Destination Center, wholesalers can find quality and variety of food products and services at the best price from manufacturers and dealersNot to mention, AEC TRADE CENTER has an effective Solution Service Center (SSC) that offers exclusive support services for wholesalers and customers such as Business Matching Area, B2B/B2B2C Parking Space, Loading Zone, Live Feeding & Studio, and many more.
To create a better wholesale online experience, AEC TRADE CENTER also integrates the services with PhenixBox, a B2B/B2B2C omni channel wholesale platform via the website and application that provides seamless O2O tradingIt hosts various unique features, including Group Purchase, Seller Store, E-Catalog, and moreAllowing for convenience, safety, and 24-hour trading for both wholesalers and customersAlong with the Chinese alliances from CCC Group, “Yiwu”.
It is known as “the largest small commodity wholesale market in the world”the United Nations, the World Bank and Morgan StanleyIn 2020, they opened their physical store called “YIWU SELECTION THAILAND SHOWCASE” at AEC TRADE CENTER – PANTIP WHOLESALE DESTINATION, BANGKOK, THAILANDTheir service will help customers find a reliable partner in China who can offer qualified service and trustable after-sale serviceThey will help you find great China suppliers with reasonable prices and more related servicesBesides, YIWU SELECTION THAILAND SHOWCASE is one of the key online stores among many on the PhenixBox platformAll of which can effectively enhance the growth of your business in Thailand.
For more information, please visit AEC TRADE CENTER – PANTIP WHOLESALE DESTINATION
Name of company : AEC Trade Center Pantip Wholesale Destination
Address : 604/3 Phetchaburi Rd, Thanon Phaya Thai, Ratchathewi, Bangkok, Thailand 10400
Email : [email protected]
Tel : +6661-416-6790
Website : www.aectradecenter-th.com