Report ranks Thailand best country to start a business

Thailand is considered the best place to start a business in the world according to a recent US News & World Report, in part due to the relatively low initial costs and streamlined procedures that make it attractive to entrepreneurs. Starting a business in Thailand takes an average of 26 days and costs 6.6 percent of the average income per capita according to the World Bank. Thailand also ranked second most affordable country for decisions makers and came in 26th overall as best country based on a variety of metrics including standard of living, ease of doing business, adventure, education, heritage, entrepreneurship and others. Thailand came in 7th as best country to invest for foreign direct investment. The rankings, which were developed by US News & World Report in cooperation with global marketing communications company Y&R's brand strategy firm, BAV Consulting, and the Wharton School of the University of Pennsylvania, asked more than 21,000 survey participants from four regions to associate 80 countries with specific attributes.

The U.K. based Post Office Travel Money report cited Bangkok as the best value long-haul city destination in the world. Researchers looked at the price of 11 travel essentials including food and drink, sightseeing, airport transfers and three nights' accommodation. The report cited the cost of accommodation which gave Bangkok the edge over other cities as well as the many things to see and do in the city. Tokyo came in second, in large part due to the low cost of eating out and many free museums and attractions.

Five international airlines are expanding air access to Thailand with new flights from Beijing, Doha, Istanbul, Maldives, India’s Jaipur and Tiruchirappalli, and Singapore already added or coming soon. On March 27 Thai Airways launched its Phuket Express service with four direct Beijing – Phuket flights a week, since June 1 Qatar Airways has increased the frequency of; Doha to Bangkok flights to five times per day. The airline also flies twice daily to Phuket for flights a week to Krabi. Turkish Airlines launched four flights a week Istanbul – Phuket flights on July 17 and in the high season they will be increased to daily flights. Jetstar Asia will add four weekly flights from Singapore to Hat Yai return from 3 November, 2017.

In a Bangkok Post interview last week Facebook Thailand head John Wagner noted that Thais shop online differently, with nearly twice the global average sending Facebook messages to businesses each month. Thais also spend more time on mobile videos, 60 percent higher than the average. Mr. Wagner said Thai companies have good success with mobile videos to promote new goods and services. More than 70 percent of shopping involves mobile phones in the country, higher than many other countries. Thailand has 48 million Facebook users, one of the top ten in the world in terms of accounts while Bangkok has more users than any other city in the world.

Work Permit

Any foreigner working in Thailand must obtain a Work Permit before beginning work. While a prospective employer may file an application on the foreigner’s behalf in advance of his starting work, the actual Work Permit will not be issued until the foreigner has entered Thailand in accordance with the immigration laws and has presented himself to receive his Work Permit.

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