Thai Industries Making a Comeback | Thailand Insurance Service

Thai Businesses Operating as Normal Following Pandemic

From 2019 onwards the global pandemic has disrupted the economy across all industries. 

Before COVID Thailand was ranked as the nation with the sixth-highest GDP in the East Asia & Pacific region. Thankfully due to the decline of COVID cases globally, Thai industries are starting to operate as normal and it’s feeling of business as usual again.


Tourism has been a staple for the Thai economy for many years. However the pandemic put a halt on that industry as heavy restrictions were applied to travel. Now those restrictions are lifted, it can be seen that tourism is slowly coming back to Thailand. With an anticipated 5.5 million people set to visit the country this year. It’s an increase on the initial forecast. However this is very little in comparison to  2019 when Thailand saw 40 million foreign tourists visit the country.


Export has taken a hit, from 2020-2022 however the industry kept afloat. Even though COVID hit Thailand hard, the export industry managed to continue to flourish. Export goods in 2020 contributed to over $20 billion was earned in trade surplus. The main produce being exported are vehicles, meat, seafood, electronics, as well as precious metals and gems. The latter two being the fastest-growing in sales.

If you have an SME business within Thailand business pak insurance is a necessity. Thailand Insurance Service provide tailored solutions to ensure your business has the right policies when operating in Thailand.

Contact us to discuss all of your business needs today.