PeoplePerHouse has dubbed Bangkok as the region’s best place for start-ups.
Thailand’s low cost of living lures in many expatriates. Offering a comfortable level of living with a cheap price tag. Additionally the country’s has many home conveniences to keep them happy. It has some of the region’s best hospitals. You can buy all the usual Western brand names. Eating out is affordable and there is plenty of entertainment on offer. Therefore it is no wonder that Bangkok is in the news again. This time for being crowned as the start-up capital of Asia.
This is according to the online platform PeoplePerHour, a UK firm that provides an online marketplace for freelancers in a range of industries to advertise their services for use. PeoplePerHour used a number of factors in determining their rankings. Combining everyday living costs such as food and transportation, as well as rent and the potential for earnings. The online platform also considered how easy it is start a new business in each city. Thailand’s capital not only came first within the region but also was ranked seven on a global scale. Which is not surprising considering the high costs associated with living in the regions hubs of Hong Kong and Singapore.
Bangkok won its accolade for various reasons. It is strategic location makes it a regional hub. This alongside its growing middle class has meant that more and more start-ups see the city as an ideal place to kick start their business plan. With many start-ups being homegrown and not necessarily at the hands of expatriates.
Over the years the government have been keen to support start-ups in a bid to help boost its appeal and have helped contribute to the rising number of start-ups. According to science and technology Minister Atchaka Sibunruang, over 7,500 new jobs have been created as a direct result. Investment in this sector has also increased 150 percent if compared to the previous year.
In a response the city has welcomed a wave of co-working spaces to accommodate start-ups as well as freelancers. Chiang Mai in the north has already been earmarked as a start-up hub according to JLL however Bangkok could be considered to have the edge for its wealth of business opportunities and also its connectivity with many flights operating within the region and the rest of the world.
Vancouver, Canada topped the global charts, followed by Berlin, Germany and Manchester, England.