BANGKOK, Dec. 23 (Xinhua) -- Thailand's new business registration increased 2.37 percent in the first 11 months compared to a year earlier, with the accumulated number approaching the 90,000 target for 2024, official data showed on Monday.

During the January-November period, 83,219 businesses were newly registered in the Southeast Asian country, with a combined registered capital of 262.85 billion baht (about 7.68 billion U.S. dollars), according to the Ministry of Commerce.

The growth in business registration reflects positive momentum in the Thai economy, driven by tourism recovery and supportive government policies, the ministry said in a statement.

The ministry also identified emerging business trends for 2024, with five high-growth sectors expected to thrive, including sports and fitness, tourism and entertainment, electric vehicles and electronics, e-commerce, and film production.

Conversely, traditional sectors such as offline retail, steel manufacturing and agriculture-related businesses are struggling with declining interest and need to adjust to technological and market changes to stay competitive.

Looking ahead, businesses should adapt to the changing landscape by embracing technology, building business networks, offering differentiated products and services, utilizing data for decision-making, and aligning with sustainable business trends, said Oramon Subthaweetham, director-general of the ministry's Department of Business Development.

Entrepreneurs who are aware of and adapt to the rapidly changing global business environment will be able to navigate challenges and achieve sustainable growth, Oramon added. Enditem

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