Thailand Invigorates Its Investment in Tourism

BANGKOK, April 4, 2013 /PRNewswire/ -- Thailand is well known around the world for its exotic and vibrant tourism industry. Although there are on going expansion in other industries but tourism still remains as a major attraction in Thailand's service industry. Thailand is a popular tourist destination for its tropical climate, beaches, lively nightlife, diverse and friendly culture, delicious food, shopping centres, and its location at the heart of Southeast Asia.

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In 2011, Thailand suffered a major flood that left a huge impact on several industrial sectors in Thailand. Thailand tourism industry proves to be one of the most resilient in quick turn around. In 2011 tourism industry alone has earned USD 25.4 billion, well above the original target of USD 23 billion according to Thailand Ministry of Tourism and Sports. Number of tourists has also increase from 19,230,470 in 2011 to 22,303,065 in 2012 creating many opportunities for an investment in the industry that support country's tourism.

In line with expanding and growing service industry, Thailand Board of Investment (BOI) has outlined its supports through tax and non-tax incentives for investments that promote tourism and strengthen technological capacity for Thailand to achieve quality services to meet global standards and competitive advantage in the service industry.

Thailand Board of Investment, the main government agency for promoting investment in Thailand is actively promoting investment in activities that support Thailand tourism such as Yacht marinas, theme parks, cultural centers, aquariums, open zoos, convention halls and international exhibition centers are examples of activities supported by BOI. Other opportunities for investment in Thailand's tourism infrastructure are movie town, hospitals, hotels, long-term accommodations for foreign retirees, and short-haul air transport, tow boat or yacht renting, and ocean marina service.

Thailand has a long experience in service industry and is well equipped with supply of quality skilled labor, modern infrastructures, international standard services, and strong markets demand to meet the needs of the investors. For more information on investment in Thailand's service industry, please visit www.boi.go.th.

For more information, please contact:

INVESTMENT SERVICES CENTER
THE BOARD OF INVESTMENT
MINISTRY OF INDUSTRY
555 Vipavadee Rangsit Road, Chatuchuck 10900
Tel: +66-2553-8111
Fax: +66-2553-8222

SOURCE The Board of Investment of Thailand