Commercial Specialist U.S. Commercial Service, Bangkok

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Presentation transcript:

Commercial Specialist U.S. Commercial Service, Bangkok Thailand Country Outlook Ora Boonyalug Commercial Specialist U.S. Commercial Service, Bangkok

Thailand at a Glance About the size of Texas (20th in the world) 67 million people Bangkok 8-10 million Chiang Mai 1.8 million Infrastructure Suvarnabhumi Airport Laem Chabang Port (20th in the world) Eastern Seaboard – Industrial Zone

King Bhuibol Adulyadej PM Yingluck Shinawatra Political Overview Type of politics: constitutional monarchy Head of state: King Rama IX Prime Minister: Yingluck Shinawatra King Bhuibol Adulyadej PM Yingluck Shinawatra Democracy Monument

Thailand: The Heart of ASEAN The Association of Southeast Asian Nations is a 10 member countries with 580 million consumers (9% World Population) Hub of ASEAN for: Tourism Medical tourism World-class healthcare service Automobile manufacturing Fashion & jewelry Agro-business

Thailand Economic Outlook GDP: $365.5 billion GDP per capita: $ 10,000 2012 GDP growth: 6.4% 2013 GDP forecast at around 4.5-5.5% Inflation rate: 3.5-4.0% Unemployment rate: 0.6 % Export Driven Economy: $250.9 billion Export Growth: 17.2% Key industries Tourism industry, food processing, agro- industry, automotive, electrical & electronics, gems & jewelry, services. *Figures for 2012

Ease of Doing Business - Thailand 18 out of 185 Source: World Bank 2013

Thailand’s Market Strengths Strategic location in the heart of Southeast Asia Free market economy Educated workforce Inexpensive property for investment & rental Developed infrastructure Excellent healthcare & international schools Quality of life for expatriates Friendly local people Level playing field for U.S. Companies

USA–Thai Treaty of Amity Signed in 1833 & Amended in 1966 Allows American citizens & businesses incorporated in the US or in Thailand to engage in business on the same basis as would a Thai national. Maintain a majority shareholding or to wholly own its company in Thailand Exempt from most of the restrictions on foreign investment imposed by the Foreign Business Act of 1999. Restrictions only in fields of communications, transport, fiduciary functions, banking involving depository functions, the exploitation of land / natural resources, & domestic trade in agricultural products.

Tourism Thai visitors spent approximately $246 million in USA in 2010 Approximately 73,000 Thai travelers visiting the USA last year. Most Thais travel to the USA mainly to: Study abroad Sightseeing tours Shop at factory outlets Visit Casinos and Theme Parks Visit National Parks and Ski Resorts

Ora Boonyalug Commercial Specialist Thank You Ora Boonyalug Commercial Specialist Bangkok, Thailand Tel: +66 2 205 5241 E-mail:oboonyal@trade.gov Http://export.gov/thailand