In South East Asia’s Indochina peninsula lays the country of Thailand, formerly the Siam so well portrayed in the musical The King and I. For many,
Thailand is known for its wonderful food made with fragrant spices creating a flavour that is uniquely Thai and for vacations, massages and honeymoons. With images of practicing yoga in peaceful lush surroundings with a statue of Buddha in the background, Thailand is a place that many people have on their bucket list.
Thailand is known for its wonderful food made with fragrant spices creating a flavour that is uniquely Thai and for vacations, massages and honeymoons. With images of practicing yoga in peaceful lush surroundings with a statue of Buddha in the background, Thailand is a place that many people have on their bucket list.
But Thailand is not just great food and vacations, and with a population rapidly approaching 70 million, Thailand is a country open for business. Over the last decade, doing business in and with Thailand has been made a great deal easier having implemented a number of reforms that have benefited entrepreneurs and seen new businesses grow. These benefits have seen regulatory hurdles fall and a greater integration and use of technology such as electronic documentation being accepted as business standards.
Thailand is most certainly open for business and whilst to the outsider Thailand would seem to be primarily a country that thrives on tourism, and tourism does play a huge part, it should be noted that more than 50% of the population are employed in the agricultural sector that accounts for less than 10% of the GDP of Thailand. Industry in Thailand has grown on the back of the large numbers employed in agriculture and whilst directly it only accounts for 10% of the GDP it indirectly influences the rest of the economy.
But what about doing business in Thailand on the ground? With the growth in entrepreneurial business, one can expect to be dealing with a new generation of business owner or manager, many will speak English especially those who are determined to break into international markets but, and again, this goes back in a way to the large number employed in agriculture, being able to speak the local language, Thai, is essential for trade to really begin.
Thailand’s tourism sector has grown, and in this industry, English is almost a must, but for those areas less touched by tourism that want the same success, often rural or remote areas that are stunningly beautiful, language becomes the barrier. Even an executive who has Thai speaking guides or staff may feel a little excluded from the dealings and conversation without even the smallest amount of spoken Thai.
The Thai language is a powerful tool for any business or person looking to trade beyond the stereotypical Thailand of Buddha's and Massages that are a little more outside Phuket and Bangkok. Speaking the language breaks down barriers and further opens up opportunities the country has created. Even in the boardrooms of Bangkok, speaking Thai makes an impact, it shows respect, and if you have the wherewithal to learn the language you will be seen as a person worth doing business with.
Thailand is sneakily making its way up the ranks of countries that are easy to deal with and learning the language (in-house or online) may just get you in to a growth market sooner than the rest. With the language you can have the pleasure of doing business in Thailand and enjoy the pleasure that Thailand is renowned for.
