Japan Leads 79% Surge in Foreign Investment in Thailand in 2024
Foreign direct investment in Thailand reached 228 billion baht, with Japan accounting for over half of the total.
Thailand recorded a 79% increase in foreign investment in 2024, reaching 228.1 billion baht, according to the Ministry of Commerce.
The surge reflects growing confidence in the Thai economy and investment climate.
Japanese businesses led the influx, contributing 121.19 billion baht, representing 27% of total foreign investment.
Japan's investments spanned multiple sectors, including electric vehicle engine testing, international trade, food and beverage retail, digital content, and contract manufacturing for vehicle parts and electronic components.
Singapore ranked second, with 137 businesses investing 22.49 billion baht (14%), focusing on engineering, international trade, petroleum drilling, and software development.
China followed with 19.55 billion baht (13%) from 123 businesses, primarily in electric vehicle factory installations, electronics, and film visual effects.
The United States contributed 24.68 billion baht (13%) across 121 businesses, targeting retail, medical equipment, food services, and advertising.
Hong Kong accounted for 15.28 billion baht (7%) through 69 businesses, investing in construction, software, and distribution centers.
The number of foreign businesses operating in Thailand increased by 43%, from 667 in 2023 to 954 in 2024, while investment value rose from 127.53 billion baht to 228.11 billion baht.
Despite the surge, the number of Thai employees hired by foreign firms declined by 26%, from 6,845 in 2023 to 5,040 in 2024.
Investment in the Eastern Economic Corridor (EEC) also grew significantly, with a 124% rise in the number of foreign investors and a 46% increase in investment value, totaling 56.49 billion baht.
Key EEC investors included Japan, China, and Hong Kong, focusing on automotive engineering, industrial sourcing, and software platforms.
In December 2024 alone, 70 foreign businesses received operating licenses in Thailand, bringing in 14.14 billion baht in investment.
Key sectors included petroleum platform maintenance, software development, air freight forwarding, and contract manufacturing.
These projects generated 1,369 jobs and facilitated technology transfers in areas such as air cargo management, telematics, and digital advertising.
The surge reflects growing confidence in the Thai economy and investment climate.
Japanese businesses led the influx, contributing 121.19 billion baht, representing 27% of total foreign investment.
Japan's investments spanned multiple sectors, including electric vehicle engine testing, international trade, food and beverage retail, digital content, and contract manufacturing for vehicle parts and electronic components.
Singapore ranked second, with 137 businesses investing 22.49 billion baht (14%), focusing on engineering, international trade, petroleum drilling, and software development.
China followed with 19.55 billion baht (13%) from 123 businesses, primarily in electric vehicle factory installations, electronics, and film visual effects.
The United States contributed 24.68 billion baht (13%) across 121 businesses, targeting retail, medical equipment, food services, and advertising.
Hong Kong accounted for 15.28 billion baht (7%) through 69 businesses, investing in construction, software, and distribution centers.
The number of foreign businesses operating in Thailand increased by 43%, from 667 in 2023 to 954 in 2024, while investment value rose from 127.53 billion baht to 228.11 billion baht.
Despite the surge, the number of Thai employees hired by foreign firms declined by 26%, from 6,845 in 2023 to 5,040 in 2024.
Investment in the Eastern Economic Corridor (EEC) also grew significantly, with a 124% rise in the number of foreign investors and a 46% increase in investment value, totaling 56.49 billion baht.
Key EEC investors included Japan, China, and Hong Kong, focusing on automotive engineering, industrial sourcing, and software platforms.
In December 2024 alone, 70 foreign businesses received operating licenses in Thailand, bringing in 14.14 billion baht in investment.
Key sectors included petroleum platform maintenance, software development, air freight forwarding, and contract manufacturing.
These projects generated 1,369 jobs and facilitated technology transfers in areas such as air cargo management, telematics, and digital advertising.
