The Department of Business Development has revealed the top 10 types of businesses with the highest level of income in 2023.
The list has been generated by analysis of the financial statements of companies operating in battery manufacturing and electric vehicle (EV) equipment, tourism, electrical appliances, pets and animal care, event organising, e-commerce, cosmetics, health, toys, and spiritual beliefs.
Auramon Supthaweethum, director-general of the department, revealed that the department has followed trends in new business registrations through the analysis of financial statements of businesses registered as juristic persons in Thailand (as of June 30, 2024) to estimate the growth direction of businesses in the country.
The top 10 businesses with the highest income were battery manufacturing and electric vehicle equipment, including the production of electronic circuit boards (2.09 trillion baht, up 13.2%); tourism (0.85 trillion baht, up 36.3%); electrical appliances (0.65 trillion baht, up 1.09%); pet and animal care (0.26 trillion baht, up 5.8%); organisers of events like conferences and exhibitions (0.22 trillion baht, up 25.9%); e-commerce (0.18 trillion baht, up 2.12%); cosmetics (0.16 trillion baht, up 5.99%); health (0.07 trillion baht, up 17.9%), toys (0.02 trillion baht, up 1.57%); and spiritual belief-related businesses (200 million baht, up 52.9%).
All 10 business types mentioned above fall in line with the modern lifestyle trends of younger generations who use technology to run their daily lives, along with consumers who care about health and environmental issues.
In addition, there are business groups that are worth watching and have operating results that reflected exponential growth in 2022: soybean oil production (which grew 9,744%), rock salt mining (up 3,207%), regular passenger transport operating between Bangkok and secondary provinces (up 1,095%), biofuel production (up 1,032%), and food retailers on stalls and markets (up 844%).
The department said it would continuously monitor changes in the Thai business sector to provide insights for firms and investors, helping them to be informed and ready to adapt to the evolving commercial landscape.
