Thailand has a very low cost of living. Several expatriates have been planning to move to the beautiful Southeast Asian country since it offers a whole lot more at very low rates. Thailand is a newly industrialized country and has been steadily showing progress in economic status for over two decades. 

It did experience some rebuttals during the Asian Financial Crisis but things are definitely looking up at present with the fast growth of industries like trade and tourism. Export projects helped improve the nation’s financial status at an expansion rate of over 4% every year.

Thailand is also very rich in natural resources having the highest percentage of arable land at 27.25%. The country mainly exports rice which comprises a large portion of its overall GDP. More than half of the total available land area in Thailand is used to plant and harvest rice.

Currently, Thailand’s total GDP is priced at almost 600 billion euros which ranks 21st worldwide. The Economist put the country in 21st place in the Worldwide Quality-of-Life index. Thailand is also working together with other economic giants like China and the United Kingdom to further promote economic growth.

Food and Drinks Costs in Thailand

Food and drinks in Thailand is much cheaper compare to the United Kingdom. The average person spends about 100 euros every month on grocery items and raw food sources like fruits and vegetables. Eating in a restaurant can be cheap or expensive depending on the location.

Foreign cuisines tend to be priced higher compared to other local restaurants in the area with the same ambiance and service. A dinner for four in a middle class restaurant can cost only around 40 to 50 euros. There are also a number of expensive restaurants in major cities like Bangkok which charge up to several hundred euros per meal.

Locally produced food and drinks are very affordable. One can spend less than 100 euros a month if purchasing in community markets and fish ports. Rice is one type of food with several varieties. The price would depend on the quality and kind. Meat products are pork and beef along with poultry, eggs and seafood like tuna, marlin and squid. Thailand has several locally produced fruits and vegetables all-year round and all these come at very low prices. Prices however can increase in bigger cities, delis and supermarkets.

Clothing and Accessories Costs in Thailand

Prices of clothing and accessories are relative to the brand and quality. There are night markets and flea shops all over cities where expatriates can find very cheap pairs of jeans, batik, hats, bags and footwear. The quality of course may not be as good compared to the ones sold in department stores and shopping centers. Designer labels are located in the heart of major cities and these are expensive just like most imported accessories.

Gadgets are imported from Japan or China. The prices also differ but China-made goods are more affordable. Tourists usually flock to shop for beachwear, swimsuits, batik clothing and other exotic textiles. There are also a number of good diving shops along the coastal regions. Most are owned by foreigners and prices tend to be higher. Other commodities like electronics, computers, trinkets and home appliances are usually imported but prices range from moderate to expensive depending on the brand.

Housing Costs in Thailand

Renting an apartment will cost around 100 to 200 euros per month. The usual setting includes a private toilet and bath, one bedroom and a living room. The space expatriates get for their money is actually reasonable. There are also condominium units which include two or more rooms, two or more toilet and baths, a general swimming pool and other amenities.

Prices will increase as more privileges and services come with the rental. Most expatriates prefer to live downtown in a nice condominium while others enjoy renting a house by the beach. Beach house rentals are less expensive although there are resorts which can charge up to 100 euros a night.

Electricity and water will cost around 100 euros every month. Owning land in Thailand may not be as easy for expatriates since the government prioritizes that only locals get to own property. Some foreigners would marry locals in order to legitimately own land while others would entirely change their citizenship. Housing loans are provided by some Thai banks. Taxes are included in construction and maintenance. There are also agencies which will ensure that the building is properly done as well as document ongoing fees and future costs and value.

Services Costs in Thailand

Small and river buses are available all over major cities especially Bangkok. There are also taxi cabs and motor bike taxis. Taking a full circle in the city will cost around 6 to 10 euros. Air and water transportation is also reliable and affordable. Trains are the cheaper alternative to airplanes and these travel between cities daily.

Health care services in Thailand are also state-of-the-art and facilities and personnel are ensured by the government to be of the best working quality. The country is currently aiming to improve tourism through medical services so all aspects with regards to the system have been well-supported. Both private owners and the government are working together to boost the health care system with the aim to attract foreigners. Expatriates get to enjoy quality medical services plus a scenic and affordable vacation.

The education system in Thailand has also been improved recently since the government wanted all locals to be educated especially in their common language. Literacy rate in Thailand now soars at over 92%. The working force has become more efficient and effective due to the increasing number of skilled and knowledgeable graduates year after year.

Employment Costs in Thailand

More males are working in Thailand than females since cultural heritage still adheres that women are supposed to stay in the home and function as housewives. The number of working women however, has been rising at a rate of over 5% every year. Nowadays, the employment rate in Thailand is at a commanding 97%.

The influx of foreign investors has provided more job opportunities for university graduates and other skilled workers. Tourism and export still comprise the bulk of the financial support to the economy. Expatriates are more likely to find jobs in the business, tourism and health care fields. Salary rate is moderate at the meantime.