EXPECTATION GDP Growth Rate in Thailand is expected to be 1.

00 percent by
the end of this 2017 quarter, according to Trading Economics
global macro models and analysts expectations. Actual GDP Groth
Rate is 1.00 percent. Looking forward, the economists estimate
GDP Growth Rate in Thailand to stand at 0.90 in 12 months time.
In the long-term, the Thailand GDP Growth Rate is projected to
trend around 0.80 percent in 2020, according to Trading
Economics.

COMMUNICATION PRESENTATION:
- As a deeply Buddhist people, Thais place great emphasis
on the outward forms of courtesy. Being self-effacing,
modest and not embarrassing or intruding on others;
- In such a culture, the smile is the most useful non-verbal
tool and disarms as well as hides a large variety of
emotions and reactions;
- Thailand is known as the Land of Smiles, which indicates a
good deal of relaxation and a friendly attitude but might
not always be entirely positive.
MEETING:
- Thais greet and say goodbye to each other with the
traditional Buddhist greeting called the wai. The wai may
be made while sitting, walking or standing;
- It takes the form of a slight bow forwards while bringing
your hands to a praying position in front of you between
chest and forehead with the fingers pointing upwards;
- Junior person offers the wai first and the senior
responding;
- Most educated and cosmopolitan Thais now offer both a
wai and a handshake.
NEGOTIATIONS:
- Face-to-face meetings are preferred to other, more
impersonal methods such as email. Only the most senior
people have authority and responsibility;
- As the Thais strongly value relationships, personal and
insider connections are of great importance and they
often work hard to help or assist friends and family;
- As Thais tend to be less direct and pay attention to body
language, facial expressions, tone of voice;
- Conflict is avoided and harmony is placed above
competition. The Thais are generally non-confrontational,
therefore outspokenness, harsh opinions and candour are
avoided during in-person interaction.

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ORGANISATION There are many kinds of business organization for person who
would like to do business in Thailand. However, the basic and
most favorable are as followings:
1. Sole Proprietorship - It is an unincorporated business
owned by one person.
2. Partnership - According to Thai law, there are three
different types of partnership: Unregistered Ordinary Partnership,
Registered Ordinary Partnership, Limited Partnership;
3. Limited Company - Under Thai law, there are two types of
limited companies, private company and public company;
4. Joint Venture - A contractual unincorporated joint venture
or consortium is not recognized as a unique legal entity under the
Civil and Commercial Code;
5. Branches of Foreign Company - There is no special
requirement for foreign company to register its branch in order to
do business in Thailand;
6. Representative Office – If a company is accepted for this
representative office, expedited visas and work permits for up to
two foreigners to work in the branch are available.

LEADERSHIP - With regards to relationships between leaders and

subordinates the Thais place great emphasis on the
concept of respect towards their elders in business
settings, leaders are often viewed as a stand-in for one’s
elders and therefore, are treated with respect and loyalty;
- On the other hand, the largest proportion of
employees perceived their managers to be consultative,
followed by paternalistic, autocratic and participative;
- In addition, employees who perceived their managers to
be more democratic also reported a higher level of
influence in decision-making, greater satisfaction with
participation and job satisfaction.

ETIQUETTE - The meal will almost certainly be paid for by the Thai host,
so don’t insist on paying yourself;

- Image is important in Thailand and business formal dress

codes are strictly adhered to, especially within large firms
and governmental organisations as it projects an image of
professionalism. For meetings, full business suits are often
worn.

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Do Follow These Rules of Thailand Etiquette
Remove your shoes: removing your shoes before entering a temple or visiting
someone's home is essential.

Return a wai

Use your right hand: The left hand is considered dirty, as it is sometimes used for
"toilet functions."

Eat with a spoon

Show respect to monks: When greeting a monk, monks receive a higher wai than
ordinary people; monks do not have to return your gesture.

Smile: The "Thai smile" is famous, essential to Thailand etiquette

Thailand background
Size: 513.120 km²

Population: 68,86 millions

Capital&main cities: Bangkok& Nonthaburi, Nakhon Ratchasima, Chiang Mai, Hat Yai;

King: Vajiralongkorn

Economy: 407 bn $ (GDP)

Language: Thai

Religion: main religion is Buddhism, but there is a strong undercurrent of Hinduism with its
distinct priestly class

Currency: Thai Baht

Climate: Thailand can best be described as tropical and humid for the majority of the country
during most of the year.

3
Visas: Yes, A tourist needs a tourist visa so you can stay in Thailand for a period of 15 or 30
days

Refferences
http://davidcliveprice.com/doing-business-in-thailand/

http://www.adasiaonline.com/understanding-thailands-business-customs-and-practices/

https://tradingeconomics.com/thailand/gdp-growth/forecast

http://www.thaiembassy.com/business/business_type.php

http://www.tandfonline.com/doi/abs/10.1080/13602380903168962?journalCode=fapb20

https://www.tripsavvy.com/thailand-etiquette-dos-and-donts-1458305

https://en.wikipedia.org/wiki/Religion_in_Thailand

https://www.focus-economics.com/countries/thailand

https://en.wikipedia.org/wiki/List_of_municipalities_in_Thailand

http://www.xe.com/currency/thb-thai-baht

https://www.travelfish.org/weather/thailand

http://www.thaiembassy.com/thailand/thailand-tourist-visa.php

https://www.crossculture.com/latest-news/the-lewis-model-dimensions-of-behaviour/

https://www.crossculture.com/about-us/the-model/

http://www.businessinsider.com/the-lewis-model-2013-9

BOOK: B._Tomalin_B._Nicks_The_Worlds_Business

BOOKS: http://www.kohsamuisunset.com/thailand-travel-guide/