# New business registrations increased by 14% in July 2024

- Link: https://www.thailand-business-news.com/companies/160171-new-business-registrations-increased-by-14-in-july-2024
- Published: 2024-09-04T17:32:23+07:00
- Author: NBT World

Thailand’s business sector saw significant growth in July 2024, with a 14% increase
in new business registrations compared to the same period in 2023. This marks a 
continuing trend of expansion, fueled by government economic stimulus measures and
improvements in tourism. A total of 7,837 new businesses were established in July
2024, with registered capital reaching 237.04 billion baht, a 42% increase from 
the previous year.

The top three business categories with the highest number of new registrations were
general construction, real estate, and restaurants/food shops. This trend aligns
with the overall seven-month period data, where a total of 54,212 new businesses
were registered, representing a 0.16% increase compared to the same period in 2023.
Interestingly, while new business registrations are on the rise, there was a slight
decrease (11%) in the number of businesses that ceased operations in the first seven
months of 2024 compared to the previous year. This trend is attributed to a shift
in the business registration landscape over the past decade, moving away from retail,
wholesaling, and manufacturing towards service-oriented businesses.

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These service businesses now represent over half of newly registered businesses,
with a strong concentration in real estate, restaurants, shipping, and logistics.
Furthermore, the number of foreign investment entities receiving permission to operate
businesses in Thailand also experienced a significant surge, increasing by 22% to
reach 460 in the first seven months of 2024. This contributed to a 54% increase 
in total investments from foreign entities compared to the same period in 2023. 
Japan, Singapore, the United States, China, and Hong Kong were the top five origins
of these investors.