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Krabi: On the way to becoming Thailand's investment stronghold!
Learn how Krabi is thriving as an emerging tourism and investment city in Thailand through infrastructure projects and growing demand.
Krabi: On the way to becoming Thailand's investment stronghold!
Krabi Province is on the verge of a significant recovery. According to Workpoint Today, Krabi is considered an emerging region in southern Thailand that is establishing itself as the “Tourism Powerhouse of Andaman.” With the plan to transform itself into an “Investment City”, the province shows great potential for investment and development.
The newly opened Central Krabi plays a central role here, attracting 45,000 visitors on the opening day. Central Pattana has not only opened this large shopping mall, but also plans to build two more high-end real estate projects in the region. The tourism sector is a key driver of economic growth in Krabi, with revenue forecast at 91 billion baht in 2024 and rising to 100 billion baht in 2025. It is estimated to receive around 6.3 million tourists annually, mostly from Europe, Malaysia, India and Singapore.
What would tourists be without a well-developed infrastructure? Krabi International Airport will be expanded by the end of 2025, with a capacity of 8 million passengers per year. In addition, the “Andaman Ring Port” project is being planned, which will connect Krabi with Phuket and Phang Nga via high-speed ferries. Such developments also make Krabi an attractive destination for digital nomads who find a new home here.
Quality of life and purchasing power
The population of Krabi numbers approximately 480,000 people, with over 70% of residents being of working age. Purchasing power is remarkably high; the average spend on luxury goods is over 10,000 baht per bill, which is twice the national average. The locals are particularly generous during the high season: spending on fashion reaches almost 20,000 baht per purchase.
In the real estate landscape, prices are also attractive - the average price of land is 70,000-75,000 baht per square wah, which is about half of the prices in Phuket. Given the increasing demand for housing from the local population, new investors and long-term foreign residents, this trend is expected to continue.
The future of Krabi
In addition to the developments mentioned, there are other infrastructure projects that are planned to be implemented by 2030. Investments in highway projects and the expansion of airports are intended to further stimulate growth. Krabi shows great potential as a real estate market, with a market growth forecast of 6-7% annually until 2030, with an estimated total value of $85-90 billion. An annual demand for 60,000 to 80,000 new residential units is expected - an exciting time for investors!
Overall, the picture for Krabi is positive, especially due to the continuous development of the tourism sector and the associated market. Not only is the city ready for investment, but it also offers a promising quality of life that attracts both locals and digital nomads.
For more information, visit Workpoint Today: Click here. For a comprehensive report on Thailand's growth prospects, visit krabicliffvillas.com: Click here.