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.
Thai demographic features are specific and you should learn more about them before starting your own business in this country. It will be a mistake to target foreigners only, as they will bring you only a small percent of earnings. Rather opt for business that will target local people and tourists alike, so that you get more profits from both groups.
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.
Another factor you need to consider when catering your business to foreign tourists only is the fact that there are military coups once a decade that might significantly affect tourism for some time thus affecting your business as well.
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.
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.
Thai demographic features are specific and you should learn more about them before starting your own business in this country. It will be a mistake to target foreigners only, as they will bring you only a small percent of earnings. Rather opt for business that will target local people and tourists alike, so that you get more profits from both groups.
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.
Another factor you need to consider when catering your business to foreign tourists only is the fact that there are military coups once a decade that might significantly affect tourism for some time thus affecting your business as well.
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.
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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