The second phase (take-off stage) took place between 1986
and 1996 when Thai outward FDI increased rapidly, both in
terms of volume and the range of host countries. Thai
companies ventured further afield to such locations as Australia, Canada and the Maldives, as well as European
countries and offshore financial centres (Cayman Islands
and British Virgin Islands). While the United States and
Hong Kong (China) continued to be the principal host
economies, other Asian countries, particularly ASEAN
countries, have emerged as significant destinations.