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The growth of the global middle class

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According to estimates by Brookings Institution, by 2030, Asia will be home to more than 65% of the global middle class — more than 3.5 billion people. The main growth is expected in Southeast Asian countries, including Thailand, Vietnam, Indonesia and the Philippines. Among them, Thailand already takes a leading position due to its stable economy, tourist attractiveness and government policy aimed at integrating highly qualified foreigners.

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Since 2022, the Thai government has been implementing a strategy to attract up to 1 million expats and digital nomads. The country has launched a long-term visa program (LTR — Long-Term Resident visa), which provides the right to reside for up to 10 years. The focus is on high-income professionals (from $80,000 per year), entrepreneurs, business owners and qualified personnel. More than 4,000 applications for such visas were submitted in 2023 alone, and the number continues to grow.

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Tourism is being transformed into relocation

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Tourism in the country is also showing an impressive recovery, with Thailand receiving more than 28 million international tourists in 2024, compared to 11 million in 2022. At the same time, many of them stay for a long time — in the format of “workation”, relocation or purchase of real estate. According to the Nomad List, Bangkok and Phuket are among the top 10 cities in the world for digital professionals. And according to Numbeo, Thailand is consistently among the top 5 countries in terms of growth in the number of remote workers from Europe, Asia and the CIS.

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Phuket stands out in particular from other destinations. In 2023, it recorded an increase in demand for renting and buying housing by 12%, according to Thailand Real Estate Information Center. At the same time, the volume of transactions involving foreigners in the premium segment increased by 18%. Investors are attracted by both ready-made projects with 5-star services and the construction of new complexes with a yield of 5 to 12% per annum and a complete management system.

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Phuket's infrastructure already meets the needs of an international audience: the international airport serves more than 120 direct routes, the island has prestigious international schools and hospitals, and the level of safety and service makes the region especially comfortable for family life.

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The emergence of new sustainable demand from Asia's growing middle class is not a temporary phenomenon, but a long-term trend. People are moving not only for the climate, but also for stability, infrastructure and investment opportunities. Real estate in Thailand is increasingly seen not as a “vacation” asset, but as part of a long-term well-being strategy.

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Taking into account demographic forecasts, economic policy, active government support and the interest of foreign buyers, Thailand's real estate market is already showing signs of steady growth. This is a chance for investors to take a strong position in one of the most promising regions of the coming decades.

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