Thailand Reports Record Investment for 2024

Thailand's Board of Investment (BOI) reported record investment figures for 2024, with applications exceeding 1.13 trillion baht (approximately $32.5 billion), marking a 40% year-on-year increase and the highest level in a decade. The digital industry led the surge, attracting 243 billion baht across 150 projects, fueled by investments in data centers and cloud computing from global tech giants. Other strong sectors included electronics and electrical appliances, automotive, and agriculture, each garnering significant investments. The growth reflects investor confidence in Thailand's infrastructure, skilled workforce, and supportive government measures. Foreign direct investment (FDI) constituted a substantial portion of the total, with Singapore being the largest source, followed by China and Hong Kong. The BOI aims to continue this upward trend with targeted proposals exceeding one trillion baht for the upcoming year.