RAMP.Global’s agency network makes it easier for employers to identify and procure talent from 23,000+ staffing agencies in over 100 countries.
COUNTRY SEARCH:
Thailand
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
Thailand
Thailand, with a GDP of $514.9 billion, ranks 27th globally. Key industries include tourism, textiles, and automotive parts. With a working population near world average and a low unemployment rate of 0.9%, the labor market is stable. Thailand features a moderate number of recruitment agencies, supporting its diverse economy.
Thailand'S
AGENCY LANDSCAPE
500
Agencies operating in Thailand
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
14-18%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
Thailand'S
FEATURED AGENCIES
99Owls Consultancy
Gateway Search
Get featured here
Thailand'S
GROSS DOMESTIC PRODUCT (GDP) RATING
27
WORLD RANKED
Thailand ranks 27th in the world by current economic output
$515B
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
7
APAC RANKED
Thailand is the 7th biggest GDP in APAC out of 41 countries in the region
GDP GROWTH (%)
The above chart compares how Thailand's GDP has grown, compared to the rest of the world and the APAC region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
Thailand'S
CURRENCY AND CODE
฿
Country currency
THA
Country ISO code
Thailand'S
INFLATION RATE
0.7%
CURRENT RATE
▼0.5% REDUCTION
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
Thailand'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
Thailand'S
LABOUR STATISTICS
67M
POPULATION
With a population of 66,558,935, Thailand is a medium sized country by global standards. Thailand's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in Thailand is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. Thailand's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
Thailand'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
Thailand'S
UNEMPLOYMENT RATE
0.9%
CURRENT PERCENTAGE
▼0.03% REDUCTION
Thailand's unemployment rate is low, suggesting either a booming economy or reliance on foreign labour. Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
Thailand'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
True Corporation
Siam Cement Group
Sri Trang Gloves
Top industries
Tourism
Automobiles and automotive parts
Computers and parts
Thailand'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
76
/
59
Male | Female
In Thailand there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
Thailand'S
WORKING LIFE
16DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard work hours: 8 hrs/day, 40 hrs/week. Overtime pay: 150% for normal days, 200% on holidays, 300% if overtime on holidays. Employees can work up to 36 hrs of overtime. Managers with supervisory authority may be exempt from overtime pay.
Thailand'S
TOP BENEFITS
98DAYS
Maternity leave
Maternity: 98 days leave, first 45 days full pay by employer, then 50% by social security. No statutory paternity leave in Thailand, only optional by employers. No parental leave law.
30DAYS
Sick leave
Employees get up to 30 days of paid sick leave with full salary. Plus, they're entitled to 3 paid business leave days annually and up to 60 days of military service leave if required.
COUNTRY SEARCH
