Plusses
Minuses
Very nice, peaceful and civil mainstream Thai culture
Low crime, safe place (relative to others)
Interesting expat community from all over the world
Expats tend to be Directors and other high level people, and explorers
Abundant and affordable skilled labor
Cheap labor
Inexpensive office space and overhead
Not too strict
Internet is OK, reliable, unrestricted
Stores have practically everything
Relatively free economy for small & medium businesses
Good infrastructure
Public transport goes everywhere
Centrally located for Asia
Low cost of living (with servants)
Lots of things to export
Lovely ladies
Foreigner property ownership restrictions (except condos)
Foreigner company ownership restrictions (exceptions exist)
Evil and protection - money-wielding foreign gangs are the worst!
Corruption on big projects (a much lesser evil)
Pollution -- choking air pollution on Bangkok roads, mostly due to nonenforcement against a small % of vagrantly violating vehicles !!
Language barrier -- English is poor -- must learn some Thai
Sanitation sometimes poor (avoidable)
Public transport full at rush hour (avoidable)
Weather too hot for some people
Culture too alien for some people
Sometimes unsatisfactory quality of service (like anywhere in the world)
Traffic in Bangkok (not too bad now, was worse before)
Copycat lack of creativity, originality, and double-checking the foreigners or the Thais of higher status / rank