THAILAND: THE DETROIT OF ASIA
Thailand’s economy has shown record impressive growth over the past decade. The combination of a sound economic foundation and renewed growth makes this vibrant Southeast Asian economy fertile ground for future automotive investments.
The automotive industry is a vital sector for the country’s economy as it contributes greatly to exports and trade inflows. It is Thailand’s second-largest export industry, after computer parts and components. Thanks to continuous government-led support, automotive has evolved into an industry with vibrant foreign original equipment manufacturer (OEM) competition and an extensive network of supporting industries. Thailand’s long experience with automotive manufacturing has equipped the country with a comparatively low-cost yet experienced labor force for the sector.