Bangkok’s vibrant skyline is drawing a new wave of Indian restaurateurs and hoteliers eager to expand.
Bangkok is fast emerging as the go-to expansion market for India’s hospitality and retail entrepreneurs. From Maharashtrian fine dining to boutique hotels, a surge of Indian-operated businesses are setting up shop in the Thai capital – often as a second market after success in India or the Middle East. With prime retail rents around THB 3,700/m² (download report), abundant vacant offices (Grade A vacancy ~26–29%), and booming tourist demand, Bangkok offers an attractive mix of affordability and opportunity, that is if you are not looking to buy land where it seems the sky is the limit. Add in easier visas and a thriving Indian wedding industry, and it’s no surprise Indian founders are increasingly viewing Bangkok as their next big frontier.
Dubai Today, Bangkok Tomorrow: A Second-Market Expansion
For many Indian businesses, Bangkok’s rise comes on the heels of Dubai’s. After establishing their brands at home or in the UAE, Indian entrepreneurs are turning to “the Big Mango” as the logical next step. Peshwa, for example, a Maharashtrian restaurant brand, recently launched branches in Bangkok and Pattaya after building a loyal following in Dubai’s Karama and Jebel Ali areas. Similarly, Delhi’s famed Daryaganj restaurant chose Bangkok for its first international outlet, citing a “growing appetite for Indian cuisine” among both locals and visitors. Co-founder Amit declared, “We are thrilled to bring the authentic flavours of North India to Bangkok… We believe our timeless classics will resonate with discerning palates”.
On the hospitality side, UPAR Hotels – a venture led by former OYO executives – has opened boutique properties in Bangkok, including a 26-room hotel in the heart of Sukhumvit 11 and another in Silom. And 24 Hills, an Indian hospitality group, recently debuted a 10-room hotel near Lumphini Park, with plans to cater to India’s booming destination wedding market. These entrepreneurs are drawn by Bangkok’s cosmopolitan vibe and its sizable Indian diaspora, but also by hard business logic: prime locations can be secured at relatively lower costs than in Mumbai or Dubai, and the city’s foot traffic includes millions of Indian tourists annually. 24 Hills has now already further grown in the market and exchanged their 10 room hotel oiutlet for a larger project.
Why Bangkok? Tourists, Tenants, and Ties That Bind
Thailand’s appeal to Indian entrepreneurs is underpinned by surging tourism and improving connectivity. In 2024, a record 2.1 million Indian travelers visited Thailand – nearly 30% more than in 2023, making India Thailand’s third-largest source market. By late 2024, Thailand even celebrated its 2,000,000th Indian tourist of the year, surpassing pre-pandemic numbers. This influx is fueled by robust air links (over 340 weekly flights between India and Thailand) and visa facilitation – notably Thailand’s new visa exemption policy allowing Indian tourists 60-day stays. Travel from major Indian cities to Bangkok has never been easier or cheaper, meaning a steady stream of potential customers for Indian-run restaurants, retail outlets, and hotels.
Moreover, Thailand’s aggressive courtship of Indian weddings has grabbed entrepreneurs’ attention. The country hosted over 1,200 Indian destination weddings in 2023–24, averaging THB 10–20 million (USD 280–560k) in budget each – generating an estimated THB 17 billion in revenue. Hotels with banquet halls or proximity to scenic venues stand to benefit hugely. Entrepreneurs like 24 Hills are keen to tap into this trend, designing boutique hotels that cater to wedding groups and big family events. As TAT (Tourism Authority of Thailand) notes, Thailand’s mix of luxury venues, full-service event support, and now visa-free entry keeps it among the top choices for big Indian weddings.
Finally, deep cultural and business ties between India and Thailand make Bangkok a friendly expansion environment. The local Indian community is well-established, with enclaves like “Little India” in Pahurat and a concentration of Indian eateries and grocery stores around Sukhumvit Soi 3–11. New entrants often find an existing ecosystem of suppliers, chefs, and even patrons familiar with their brands. This clustering effect – for instance, Indian vegetarian restaurants and spice shops thriving near Lower Sukhumvit where Indian and Middle Eastern tourists congregate – provides a soft landing and immediate customer base.
Real Estate Realities: Rents, Vacancies, and Location Clusters
Beyond demand factors, Bangkok’s property market dynamics are a major draw. The city currently offers a tenant-friendly environment for commercial leasing, with high supply and negotiable rents. Prime ground-floor retail rents in the central district (CBD/CRD) average about THB 3,700 per square meter per month – roughly half of Mumbai’s or Dubai’s prime rents in USD terms. Notably, Grade A office vacancies hover around 26–29% – an unusually high rate for a capital city. This oversupply of space has put downward pressure on prices and made landlords more accommodating. Indian firms venturing into Bangkok can secure premium locations – whether it’s a flagship store in a luxury mall or a spacious restaurant in Sukhumvit – with favorable terms like rent-free fit-out periods or shorter lease commitments.
For example, when UPAR Hotels scouted Bangkok, they found that even in trendy Sukhumvit, smaller hotels and guesthouses were available for takeover at reasonable rates due to the pandemic-era shakeout. The team snapped up a property near Bumrungrad Hospital and Nana, rebranding it as UPAR Hotels Sukhumvit 11 Nana – a location that draws both medical tourists and nightlife seekers. Meanwhile, restaurateurs like Peshwa have benefited from clustered retail opportunities; their Bangkok outlet sits in Sukhumvit Soi 20, surrounded by hotels and expat foot traffic, yet at a fraction of the rent one would pay in Dubai’s downtown.
Bangkok’s geography also favors strategic clustering. Indian businesses often gravitate to areas with existing synergies: Sukhumvit Nana/Asoke (Soi 3– Soi 13) for its mix of tourists, expatriates, and Middle Eastern/Indian dining scene; Silom/Sathorn for proximity to embassies and five-star hotels; and downtown shopping hubs like Siam/Chidlom for retail brands. As an example, Royal Enfield, India’s iconic motorcycle maker, chose Thonglor for its first Thai dealership – a nod to the affluent local demographic but also an area popular with Indian expats and tourists. These micro-clusters mean new entrants can immediately plug into existing demand pockets. As one Indian restaurateur put it, “Bangkok’s layout allows us to find our tribe – we set up where we know our customers already are.”
Support on the Ground: Partners in Expansion
Navigating a foreign market can be daunting, but Indian entrepreneurs in Thailand are finding strong local partners to smooth the journey. Lazudi Commercial, a Bangkok-based real estate advisory, has quickly become a trusted ally for many incoming Indian operators including Peshwa, Upar and 24 Hills. The firm takes a “needs-first” leasing approach, often helping clients identify the optimal location based on their concept and budget, then mediating deals to ensure long-term win-win arrangements. “Many of our Indian clients come with a clear vision – be it a 100% vegetarian fine-dining restaurant or a boutique hotel catering to wedding groups – so we focus on aligning them with properties and landlords that match that vision,” a Lazudi Commercial representative explains. This might mean negotiating revenue-sharing leases for F&B startups to reduce upfront risk, or convincing a conservative Thai landlord to adapt a space (e.g. install an Indian kitchen or extra banquet hall) for a committed tenant. In a market where relationships matter, Lazudi’s local insight and landlord network have been key in securing prime sites for newcomers.
Legal and administrative setup is another area where specialist help is invaluable. Siac Consulting – a Bangkok consultancy specializing in foreign business incorporation and visas – has been a go-to support partner for many Indian SMEs. From obtaining BOI promotions (Thailand’s Board of Investment incentives that allow 100% foreign ownership and other perks) to handling work permits for Indian chefs and managers, Siac ensures new entrants remain compliant while taking advantage of all available benefits. For instance, a BOI promotion can exempt a restaurant chain from the usual Thai shareholding requirements, or allow a hotel venture to bypass quotas on foreign employees. Siac’s team often provides turnkey solutions: registering the company, securing visas for the founding team, and even guiding on licenses (food service, alcohol, etc.) – freeing the entrepreneurs to focus on their core business.
Crucially, both Lazudi and Siac emphasize a long-term partnership mentality. Leasing a space or starting a company is just the first step; success in a new market comes from continuous adaptation and local understanding. These partners continue to advise on expansions to secondary cities (some Indian restaurateurs are already eyeing Phuket and Chiang Mai), on changing regulations (such as new visa options or zoning laws), and even on cultural nuances in marketing to Thai clientele. The result is a growing community of Indian business leaders in Bangkok who feel supported and confident in their Thai ventures.
Ready to Ride the Wave? With Bangkok embracing international entrepreneurs like never before, Indian business owners have a unique window of opportunity. Whether it’s opening the next award-winning Indian fine dining in Sukhumvit or launching a boutique hotel that doubles as a wedding venue, the Thai capital offers fertile ground for expansion. To make the most of it, partner with experts who understand the landscape. Lazudi Commercial can help find that perfect property and negotiate the deal you need, while Siac handles the red tape to get you operational fast. Bangkok’s doors are open – and the stage is set for India’s boldest brands to thrive in Thailand.
References: Peshwa Restaurant Thailand, Upar Hotels Sukhumvit 11 Nana (Expedia), 24 Hills Hotel (Expedia), Thai-Co Business Services, TAT Newsroom, Economic Times, VnExpress.
