The Situation of Entrepreneurial Society in Thailand: Evidence from Global Entrepreneurship Monitor Data
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Abstract
The purpose of this research is to study the level of entrepreneurial activity in Thai society, using data from the Global entrepreneurship monitor (GEM) project in 2024. Through in-depth interviews with 36 experts across 9 fields, the study found that the top three Entrepreneurial Framework Conditions (EFCs) in Thailand that are most conducive to entrepreneurship are domestic infrastructure, social and cultural equality, and market openness. Conversely, the least conducive EFC is knowledge transfer for research and development. Additionally, the Adult Population Survey (APS) of 2,000 Thai adults of working age (18-64 years old) revealed a Total Early-stage Entrepreneurship Activity (TEA) rate of 15.5%, indicating that approximately 16 out of every 100 Thai adults are involved in starting new businesses. The Southern region had the highest TEA rate at 18.9%. Women tend to be more engaged in early-stage entrepreneurial activities than men, with TEA rates of 16.5% and 13.8%, respectively. The data also indicates that the 35-44 age group has the highest TEA rate, at 18.7%, suggesting that middle-aged working adults are the most likely to start or own new businesses.
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