Kriengkrai suggests that Thailand can attract companies from Singapore by highlighting lower living costs, affordable rents, and tourism appeal, despite Singapore’s competitive tax rate and infrastructure.
Kriengkrai believes that attracting major corporations from Singapore to Thailand could significantly benefit the economy, thanks to lower living costs. Many regional offices currently based in Singapore may find the cost of living in Thailand more appealing.
Although Singapore has a strong infrastructure and a competitive 17% personal income tax rate, Thailand offers advantages such as affordable rents and cheaper labor. These factors could be enticing for businesses considering a move.
Additionally, many professionals in Singapore frequently visit Thailand for weekend getaways. By relocating, these companies could foster substantial economic growth for Thailand, according to Kriengkrai.
Source : Will Thailand dethrone Singapore as global investment hub in 2025?
