As wealth shifts eastward, Thailand is strategically positioned as a gateway to Asia’s rapid growth in global capital finance. That includes leading the way in digital innovation and sustainable financing. Ongoing regulatory reforms are improving transparency and attracting international capital, as well as strengthening market infrastructure.
However, gaps persist compared to leading financial centers. Bangkok ranks 96th in the Global Financial Centres Index — well behind hubs like Hong Kong and Singapore which rank third and fourth respectively — underscoring the need to elevate Thailand’s international standing. The market remains relatively domestic, with no foreign companies listed on the Stock Exchange of Thailand (SET), limited cross-border capital flows, and low participation from large institutional investors. Certain tax and regulatory policies are still less competitive than those of regional peers, and segments such as fintech, digital assets, and other alternative investments, while growing, are still in early stages. Closing these gaps is critical for Thailand to solidify its status as a credible global financial hub.
Key focus areas to position Thailand as a global financial hub
Our latest report, “Developing The Thai Capital Market Toward An International Financial Hub,” produced in collaboration with the Capital Market Development Fund, provides a holistic assessment of Thailand's capital market and outlines a strategic roadmap for its transformation.
The report identifies key areas where Thailand can strengthen its proposition for global investors — from boosting international branding and visibility to enhancing the policy environment, infrastructure, asset offerings, and the domestic investor base. We identified three cornerstones to drive Thailand's financial hub ambitions.
1. Enhance Thailand’s global branding and visibility as a financial powerhouse
Elevating Thailand’s global profile is crucial to attract investors and rebuild confidence. This means proactive branding through targeted promotional efforts and outreach to dispel outdated perceptions, coupled with strong governance and transparency to bolster trust. By increasing Thailand’s representation in major indices and engaging international investors more actively, the country can enhance its visibility and credibility on the world stage.
2. Improve accessibility to capital and develop better market infrastructure
Streamlined regulations and world-class market infrastructure will reduce friction for capital flows. Initiatives include modernizing trading and settlement systems, enabling multi-currency transactions, and simplifying entry for foreign institutions. Developing future-ready talent and refining rules like faster approvals, and targeted incentives are essential enablers to improve market accessibility. A more efficient, connected marketplace will better integrate Thailand with global markets and encourage greater participation from both foreign and domestic investors.
3. Strengthen Thailand’s local institutional investor base and encourage innovation
Long-term growth requires both a deeper local investor base and innovative investment opportunities. Strengthening the domestic institutional investor base such as pensions and insurers will provide stable, long-term capital and enhance market resilience. At the same time, Thailand is differentiating itself by fostering new opportunities in areas like offshore wealth management, digital assets, and sustainable finance. These innovative sectors can unlock new pools of capital and give Thailand a competitive edge, positioning it as a regional leader in emerging financial segments.
Thailand’s transformation success depends on consistency, collaboration, and innovation
Thailand can transform its capital market into an international financial hub that delivers wider access to capital, stronger growth, and greater resilience. With clear direction and consistent implementation, today’s momentum can be converted into lasting advantage.
Translating this vision into outcomes will depend on coordinated effort across the ecosystem — market operators, intermediaries, issuers, and the investment community — underpinned by predictable, internationally aligned frameworks and modern infrastructure. By following a phased roadmap with clear milestones, transparent monitoring, and the flexibility to adapt to evolving global conditions, Thailand can build a capital market that is trusted, competitive, and globally connected.
