There are several factors that need to be considered before relocating to a foreign land. We list five reasons why expatriates are flocking to Thailand, highlighting some of the draws and must-knows before making that move:
Cost of Living
Thailand has always been a nation where one can both travel and live on a relatively reasonable budget.
The country has long been known as a wallet-friendly destination, with the price of everyday necessities such as food, public transport, gym memberships and utilities considerably lower than its regional counterparts such as Hong Kong and Singapore. Fixed expenditures such as property for both rental and purchase purposes (short-stay accommodation included) also tend to be less expensive than those in neighbouring countries.
Career Opportunities
One of the main attractions of relocating to any developing country is the various job opportunities that the particular nation has to offer. Thailand poses an enticing prospect for those who are looking to relocate to an environment that has plans for exponential growth over the next several years. Government initiatives to boost infrastructure in the country will create a plethora of new positions over the next decade. Projects like the Eastern Economic Corridor and Thailand 4.0 will require considerable efforts in terms of manpower to materialise.
The country also boasts incredibly low unemployment figures, strengthened by an economy moving on an upward trajectory due in part to a booming tourist trade. Thailand also has one of the easiest climates to carry out business in, and immigrants have an extremely conducive destination to relocate to for employment.
Inviting Environment
Thailand is home to one of the most vibrant cultures in the world. Cuisine wise, the country provides its residents an array of local and international offerings, especially in the more cosmopolitan cities such as Bangkok, Phuket and Chiang Mai. It’s also one of the most hospitable cultures in the world, known for its congenial and tolerant attitude towards expatriates.
In its major cities, the country presents to visitors an unrivalled mix of heritage together with a bustling nightlife. Bangkok also offers its residents a shopping paradise, from its floating markets to Platinum Mall and Siam Paragon’s luxury outlets. One has to experience the vibe first-hand, to understand why the nation’s capital is rated as the world’s top tourist destination.
Steadying Political climate
Although seemingly plagued by albeit peaceful coups, Thailand is by and large an orderly nation compared to its neighbouring countries. Foreign Ministry spokesperson Busadee Santipitaks put things into perspective when he stated that Thailand’s ranking and status as a dangerous destination was outdated and biased, and did not reflect the recently improved situation within the country. Many tourists have also mentioned the fact that they feel completely safe while visiting – with their major worries surrounding traffic and extreme sports that the country has on offer.
Steady Returns on Property Investments
The Thai market for condominiums has created quite a buzz in recent years due to above average returns on investments. Rental yield typically demands 5% and upwards, in variance to countries like China that draw 2%. Thailand also offers investors freehold ownership of condominiums while countries like China work predominantly on the leasehold model. Not only are maintenance fees less costly in Thailand compared to the regional average, condominium resale is faster and more straightforward compared to landed property.
The above are our top five reasons why Thailand will continue to be an enticing proposal for those looking for a change in living environments or for property investment purposes.