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There are many business opportunities available for foreigners that would like to start their own business in Thailand. But it is not so easy to choose the right industry to invest in. If you would like to find the Thailand's biggest moneymaking industry, take a look at the finance guidance that reveals details about the business climate in this beautiful and attractive country.
In order to know more about the most profitable area in this country for starting successful business, you need to learn more about Thai demographics. You don't have to target foreigners only, as they make up a small percentage of sales. Rather opt for a business that targets both locals and tourists, as this will ensure you will get enough customers and respectively more profits.
You will greatly benefit, if you invest in business with less competition and which is well-liked by locals. Obviously, opening a go go bar is not a wise decision, as locals will not visit it because of moral and ethical principles in their society. If you target tourists only, you are likely to suffer losses, as tourists may choose many other venues available around.
You will surely get loyal Thai clients that will keep coming to you, if they like your business. If you target a foreign market only, you are unlikely to get good profits, neither to gain popularity.
If you still would like to cater your business to foreigners only, consider also the fact that once a decade military coups occur that affect tourism. This will surely affect your business as well if you target tourists only.
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.
Since the Thai apartments are not big, they cannot accommodate many guests and for this reason they prefer to eat outside. Usual practice of Bangkok workers is to eat on the go as a result of Western influence and the busy lifestyle. Rice meals that are traditional for Thais are currently replaced by sandwiches, pastries or breads for breakfast combined with coffee. For a lunch and dinner they attend fast food restaurants with family members and close 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.
In order to know more about the most profitable area in this country for starting successful business, you need to learn more about Thai demographics. You don't have to target foreigners only, as they make up a small percentage of sales. Rather opt for a business that targets both locals and tourists, as this will ensure you will get enough customers and respectively more profits.
You will greatly benefit, if you invest in business with less competition and which is well-liked by locals. Obviously, opening a go go bar is not a wise decision, as locals will not visit it because of moral and ethical principles in their society. If you target tourists only, you are likely to suffer losses, as tourists may choose many other venues available around.
You will surely get loyal Thai clients that will keep coming to you, if they like your business. If you target a foreign market only, you are unlikely to get good profits, neither to gain popularity.
If you still would like to cater your business to foreigners only, consider also the fact that once a decade military coups occur that affect tourism. This will surely affect your business as well if you target tourists only.
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.
Since the Thai apartments are not big, they cannot accommodate many guests and for this reason they prefer to eat outside. Usual practice of Bangkok workers is to eat on the go as a result of Western influence and the busy lifestyle. Rice meals that are traditional for Thais are currently replaced by sandwiches, pastries or breads for breakfast combined with coffee. For a lunch and dinner they attend fast food restaurants with family members and close 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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