Thinking about moving to a tropical paradise?
Wondering why more and more people are choosing Thailand, particularly Phuket, as their home? “It’s obvious: sea, sun, palm trees,” you might say. We confidently state that you will be surprised and learn many new and interesting things you haven’t even thought about before.
Ready to find out why all roads lead to Thailand? We’ll be happy to guide you on this topic.
“Thailand’s development is one of the great success stories.”
Thailand is a newly industrialized country with a rich culture, incomparable cuisine, pristine white-sand beaches, island life, and Asian metropolises. All of this is just a drop in the ocean of reasons that make many people seriously consider a permanent or temporary change of residence.
Despite globalization, the Land of Smiles has managed to preserve its centuries-old traditions and form a mentality based on friendliness, a positive outlook on life, and a smile in harmony with the locals’ relaxed pace. Once you visit Thailand, you can’t forget the cherished words “sabai sabai,” meaning “no worries.”
Thai cuisine is a separate art form, evoking warm associations for anyone who has had the chance to experience it: Pad Thai, Tom Yum seafood soup, sticky rice with mango. And a thousand and one ways to prepare each dish. Not to mention fresh tropical fruits and vegetables, highland tea, coffee, and even strawberries from the north of the Kingdom.
Vibrant colors, an abundance of greenery, and incredibly beautiful nature with majestic mountains in the north and “soaring” karst cliffs in the south not only grant a special sense of calm but also inspire human creativity. Recall famous movies filmed here: “The Man with the Golden Gun,” “The Beach” with Leonardo DiCaprio, “Rambo,” and “Bridget Jones’s Diary.”
But what if the answer is much more complex than it seems at first glance?
Thailand’s economy is growing rapidly, paradoxically hand in hand with the carefree “sabai,” in the context of “slow but steady growth.” The familiar expression “slow and steady wins the race” perfectly describes Thailand’s economic stability.
Bright examples are the local currency and the country’s inflation rate. Over the past 15 years, the Thai Baht has established itself as one of the strongest world currencies, not prone to large fluctuations even during global crises. The average inflation rate over 45 years has been just 3.89%.
And, of course, one of the most important pillars of the Thai economy and its resilience is its strategically advantageous location in the heart of Asia. The Kingdom of Thailand ranks among the top 3 exporting countries in ASEAN (Association of Southeast Asian Nations), with a total population of over 660 million people, and consequently, active participants in trade.
As a participant in the RCEP (Regional Comprehensive Economic Partnership), Thailand and 14 other countries (including Singapore, Malaysia, Australia, China, South Korea, Japan) signed a free trade agreement that came into force on January 1, 2022, forming the largest free trade zone in the world, covering almost one-third of the global economy.
The agreement enhances potential positive effects for an economy based on agricultural products (rice and rubber), as well as automotive manufacturing, auto parts production, data processing machine exports, electronics, and gemstones/jewelry. Thailand is a key figure in the supply chain network for essential goods, partially explaining how it has successfully managed global crises and avoided sharp shortages.
Leveraging its central location in Asia, the Kingdom invests huge sums in developing transport infrastructure and strives to become a major transit hub for travelers and businesses. Thailand currently has 38 airports nationwide (12 international, 26 domestic) and offers simplified visa processes for visiting countries like Singapore, creating ideal conditions for spontaneous travel and weekend getaways: 1-2 hours on a plane and you’re in a new country with a different rhythm and culture. Sounds tempting, right? Additionally, such transport accessibility to global economic powerhouses like China and India is an extra bonus for any business.
Speaking of business. Thailand is a land of opportunities with clear goals reflected in the new economic model “Thailand 4.0”, aimed at developing science, innovation, and technology.
The digital age dictates its conditions, prioritizing a high level of telecommunications development, especially for businesses directly dependent on it. High-speed underwater communication cables connect Thailand with 16 countries. Thus, the central location combined with an open global stance again played its role, allowing the Kingdom to become an ideal communications hub.
It’s no surprise that numerous international corporations choose the Land of Smiles as their second home, including Toyota, Honda, Mazda, Samsung, Canon, HP, IBM, Shell, and many others.
Why is Phuket the Ideal Place to Live?
Comfortable Climate and Captivating Nature
What do you think of when you hear the cherished word “Phuket”?
Likely the white-sand beaches of the Andaman Sea gem: vibrant Patong, tropical Nai Harn, Bang Tao with its casuarina trees, or the hidden Paradise Beach with stunning views.
Due to its proximity to the equator, there’s no pronounced seasonality. The Andaman Sea delights with its warm embrace at 26°C year-round, ensuring a tourist flow throughout the year. Two seasons can be loosely distinguished: the hot/dry season (November–April) and the monsoon season (May–October). Locals don’t use the word “snow,” and are only familiar with ice in drinks. Ask any Thai to translate “winter,” “spring,” or “autumn” and be surprised by the long pause :) The monsoon season is especially popular with visitors from Australia and New Zealand, where the seasons are reversed, so our summer months are their winter.
Phuket – A Choice for Everyone
People of different ages, interests, and professions move to Phuket, alone or with families, with pets or without. Phuket is beautiful in its diversity, and everyone finds something special here. This is also facilitated by a favorable visa policy for foreigners and the possibility of obtaining residency (more in our article “Visa Matters and Residency in Thailand”).
A calm tropical lifestyle with a variety of ways to spend time on self-development, entertainment, and relaxation: golf, Muay Thai, yoga, dancing, cycling marathons, diving, yachting, rafting, deep-sea or freshwater fishing, wind- and kite-surfing, water parks, even an ice rink, children’s parks, shopping, day markets with the freshest fruits and seafood, night markets with live music, viewpoints for sunrises and sunsets.
A large international community means a diversity of cafes and restaurants with cuisines for every taste, and a huge selection of both local and imported products: from cheeses to cottage cheese and buckwheat in supermarkets.
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High Level of Education
The state places great importance on the level of education. Over 100 international schools nationwide offer education in English, Russian, Japanese, French, and other languages. Two universities rank in the Top 50 in all of Asia.
The presence and development of international schools like British International School (BISP), UWC Thailand, and Headstart International make Phuket an excellent place for families choosing quality, international-level education (more in our article “Education in Phuket”).
Top-Class Healthcare System
The Kingdom of Thailand is famous for its high level of medical development and quality services at affordable prices, striving to become the leading medical tourism destination in Southeast Asia.
Local hospitals treat millions of foreign patients annually. Due to high demand, the healthcare sector continues to develop rapidly, providing the highest quality medical care and professional specialists, implementing innovative technologies, and conducting extensive clinical research.
Thailand ranks 6th in Asia and 17th in the world for medical tourism, offering the largest number of private hospitals in Asia, many accredited by JCI (Joint Commission International). A prime example is Bangkok Hospital Phuket.
Separately, we note a feature longtime visitors will remember, still relevant today: the absence of factories and any manufacturing on the island, another major advantage of Phuket.
Phuket – The Island of the Future
Ask anyone who visited Phuket 10-20 years ago, and they’ll tell you how everything has changed beyond recognition :)
Thailand actively promotes and implements the idea of comprehensive development for Phuket:
- Expansion of the existing airport and construction of an additional one; new tunnels and road interchanges.
- The grand “Phuket Light Rail” project to launch a monorail along the central part of the island, with a budget of 35 billion THB.
- A key venue candidate for specialized international events, including candidacy for EXPO initiatives under the theme “Future of Life: Living in Harmony, Sharing Prosperity.”
Why Do Savvy Investors Choose Phuket?
Influx of foreign investment began with the development of tourism, which made the island of eternal summer known, and the tourist flow turned into an investment flow.
International Resort
Tourism potential is Phuket’s calling card, ranking an honorable 6th in Asia for popularity according to Tripadvisor, and the #1 tourist destination in Thailand.
There is a clear interest from developers in partnering with major players in the international hotel business, brands like Marriott, Sheraton, InterContinental, and Wyndham, who continue to invest in Phuket’s tourism sector and expand their presence on the island.
Limited Land for Development
It’s important to understand that Phuket is the largest island in Thailand — its main advantage from a real estate market perspective. The amount of land is limited and not increasing, demand is growing, and everyone is trying to secure a coveted place in the sun.
Construction of residential properties is only permitted on 60% of Phuket’s territory, as about 40% is designated as national parks and reserves. It’s impossible to build a huge number of high-density apartments here due to strict building height restrictions.
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All this contributes to steady price growth in the real estate market; apartment prices in condominiums have continued to rise steadily even during global economic downturns.
Affordable Property and Cost of Living
The real estate market in Phuket is a young market. In terms of maturity, it can be compared to Singapore’s early growth stages, which now ranks 8th in the world for cost of living and among the top three in Asia for price per m².
Phuket is still developing but already represents a level of quality and service significantly exceeding expectations and prices in all areas of life, making it an ideal destination for permanent or temporary residence. It’s still possible to acquire a villa or apartment by the sea on the island of eternal summer at an accessible price (more in our article “Price Segments and Types of Real Estate in Phuket”).
Simplicity and Transparency of Purchase
The entire transaction process is maximally simple and consists of just 3 stages: deposit → contract → handover (more in our article “Stages of a Real Estate Transaction”).
You don’t need to be in Phuket, and payment can be made in any convenient way: bank transfer, cryptocurrency, or cash at the developer’s office.
The hardest part is deciding on the purchase goal and preferences, including the specific qualities of the property that meet your needs. Be sure to consult with an experienced specialist who can help find the most suitable option for you. We will be happy to provide free guidance on any questions related to purchasing property.
