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Mrs. Auramon Supthaweethum, Director General of the Department of Business Development, Ministry of Commerce, revealed that the outstanding and worth-watching business groups in 2024 are based on the analysis by assessing business data from various sectors. Internal statistics of the Department include the number of business establishment registrations, growth rate, business performance, and termination registration, along with economic factors and various business environments.
Based on the analysis results, it is possible to divide the businesses that are worth watching and interesting in 2024 into 4 large categories and 9 sub-categories consisting of the following businesses:
This business has benefited from positive factors in the opening of the country and government support measures. As a result, the number of tourists visiting Thailand has steadily increased. Interesting tourism-related businesses are as follows.
Such as restaurants, hotels, resorts, apartments, guest houses, tour operator businesses, currency exchange businesses, and travel agency businesses.
During January-November 2023, 7,459 businesses were established, growing 48% compared to the year 2022. Total operating results for fiscal year 2023 is 575,347 million baht, growing by 64% compared to the year 2021.
This business group tends to be established more to serve the needs of both Thai and foreign tourists. The Tourism Authority of Thailand expects the number of tourists in 2023 to be around 27 million and 2024 to be around 30 – 35 million. This is a good opportunity for businesses to expand or start up their businesses to serve the market and in line with the expected number of tourists.
Such as business and merchandise exhibition businesses, meetings organization businesses, catering businesses, and entertainment businesses.
During January-November 2023, 1,138 businesses were established, growing 45% compared to the year 2022. Total operating results for fiscal year 2023 is 56,750 million baht, growing by 37% compared to the year 2021.
These are the businesses that can generate huge amounts of money, especially concerts or music festivals by foreign artists that attract both Thai and international visitors. This is also a good opportunity for most participants to take this opportunity to travel further.
Business groups related to health care, appearance treatment, and personal health include the following interesting businesses:
Such as businesses of planting plants and spices, incense, medicine, hospital businesses, specialized disease clinics, and pharmaceutical and medical supplies retail-wholesale business.
The health and beauty business for the fiscal year 2022, generated revenue of 1,184,181 million baht which is higher than the year 2021, valued at 97,052 million baht. The net profit is 91,959 million baht, higher than the year 2021, valued at 3,687 million baht.
Due to the COVID-19 pandemic, people have become more interested in health care and the importance of their image, appearance, and lineament. This is another important factor supporting this business group’s growth.
Such as businesses of care facilities for the elderly, accommodation providing service business, and businesses of social works without shelter for the elderly.
The business was established in January-November 2023, totaling 107 businesses, an increase of 11% compared to 2022. 721 businesses are operating nationwide with a total registered capital of over 4,250 million baht.
With the trend of entering the aging society both in Thailand and abroad worldwide, the number of elderly people is increasing, contrary to the annual birth rate. As a result, businesses related to care for the elderly will play a role and create marketing opportunities to serve the elderly population who need specialist care.
The businesses of the modern generations’ lifestyle are particularly attractive, which can be adapted following the rapidly changing consumer behavior over the past few years. Interesting business categories include:
Such as pet care businesses, food and pet supplies retail businesses, and animal food wholesale businesses.
In an era where people turn to having pets rather than having children, this business has grown from love and bond between people and pets that are like family members. As a result, pe towners are willing to pay a lot of money for the best which enables businesses to generate income and profits continuously.
During January-November 2023, 197 businesses were established, growing 12% compared to the year 2022. Total operating results for fiscal year 2023 is 197,842 million baht, including the profit growth in 2022 has more than tripled from 3,152 million baht in 2021 to 13,304 million baht in 2022.
Such as recycling businesses, environmental consulting businesses, and electric vehicle parts manufacturing businesses.
With climate change happening today, people are becoming more aware of the environment. Consumers are increasingly looking for eco-friendly products and activities to reduce the impact on the environment, resulting in a growing interest in these types of businesses.
During January-November 2023, 197 businesses were established, growing 12% compared to the year 2022. Total operating results for fiscal year 2023 is 486,759 million baht, including the profit growth in 2022 is more than 45% from 24,517 million baht in 2021 to 35,512 million baht in 2022.
In a world driven by digitals and innovations, this group meets the current global challenges, covers all ages of the population in society, and includes both government and business sectors with high market value. There are interesting types of businesses as follows:
Such as Internet retails businesses, and the businesses of the central market of online trading. It is a business with continuous growth that meets modern lifestyles, and convenient and easy access to services and products at the fingertips.
In 2023 (January-November), 1,800 businesses were established, growing by 17% compared to 2022. Revenue for the fiscal year was 194,837 million baht which increased from 2021 by 38,192 million baht or 24%.
Such as processing business and invoicing for financial transactions. It is a business that provides payment services for goods or services via online, making it easy and convenient to pay for goods and services quickly.
In 2023 (January-November), 22 businesses were established, generating 19,098 million baht in the fiscal year of 2022 revenue, a 37% increase from 2021, including a 1.9 times higher profit from 844 million baht in 2021 to 2,478 million baht in 2022.
Such as the web page programming business, computer programming business, and software consulting business.
During January-November 2023, there were 1,104 business establishments. This group generated revenue of 160,201 million baht in the 2022 fiscal year or 14% higher than the 2021 fiscal year.
This growth is in line with the era that is driven by technology and innovation, such as integrating technology with AI or artificial intelligence in the technology industry, which has become a driving force for consumer demand in software businesses.
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