Thailand is Hot! Thailand's Jumpstart on Covid Recovery Puts The Country Ahead of The Game

Thailand is making a comeback after the Covid-19 pandemic battered its tourism industry. From serene beaches to bustling cities, Thailand has something to offer everyone. With its friendly locals and delicious food, it's no wonder that Thailand is often referred to as the "Land of Smiles."

This resurgence in tourism is great news for Thailand's economy. The country has worked hard to rebuild its image since the outbreak and it looks like all that effort is paying off. Hotel and resort sales have more than doubled that of pre-pandemic rates. The Thai travel boom is real with some tourists even pre-booking for 2023. Interest in alternative accommodations such as private villas and homes is rising as well and it’s attracting investors who want to take advantage of the demand.

Thailand is on track to meet its target of 10 million visitors this year, according to its government. It’s a healthy number, considering that airlines are still operating at less than 50 percent capacity, limiting the number of flights to the country.

Business is just picking up and by 2023, Thailand and other countries in the Asia-Pacific region are forecasted to recover fully. This stands in contrast to other areas, which are predicted to bounce back to pre-pandemic normals in 2024.

And those are only some of the reasons to invest in Thailand. The nation is the second largest economy in Southeast Asia, next to Indonesia, and is quite welcoming to foreigners, whether they be digital nomads, expats, or retirees. Even a tourist can open a bank account there in less than 30 minutes. Bureaucracy is less of an issue compared to neighboring countries. Thailand has also placed 21 out of 190 countries on the latest Ease of Doing Business rankings by the World Bank.

When it comes to the real estate market, Thailand has boomed in recent years, as the country continues to attract international investors. Thailand’s real estate sector is attracting buyers, sellers, and renters from all over the world. Investors who are looking to buy property in Thailand will benefit from its central location and proximity to the fast-growing economies in Cambodia, Laos, Vietnam, and Myanmar. The baht is one of Asia’s least volatile currencies and Thai property also holds its value well, even in a recession. Plus, even rentals and homes in the outskirts of Bangkok are flourishing thanks to improved transportation.

Whether they’re working as an expat or are one of the thousands of foreign retirees living here, people from all walks of life are finding a place in Thailand’s property market. The country offers a wide range of options for those looking to invest in or rent property, from high-end properties and villas to more affordable apartments and homes.

With a growing economy and infrastructure, Thailand is an attractive option for both local and international investors. The country is making efforts to curb inflation, with tourism and exports injecting healthy growth into the economy. Over 85% of Thailand’s exports are manufactured goods such as electronics, office equipment, and vehicles, and this industry has been growing steadily for decades, making the country’s economy one of the most dynamic in Asia. This economic success story has carried over into the real estate market.

More and more foreign nationals and high-worth investors are buying property in Thailand because of the high demand and relatively affordable costs. Prices are steadily increasing and their real estate markets are finally recovering.

Southeast Asia, especially Thailand, has been in the periphery for so long and it’s refreshing to see that it’s having its time in the sun. The "return" of Thailand to the global stage has long been in the making and it’s up to investors to seize this moment.

When it comes to buying property in Thailand, you want to find a reliable and professional real estate agent that can help you throughout the process. At Geonet Properties, our team of experienced property experts are here for you every step of the way. We know how important this decision is for you, which is why we will provide all the information you need to make a well-informed decision about your property purchase. We are dedicated to helping you find the perfect home or investment that suits your needs and budget, so contact us today to get started!