Trends in the Recruitment and Job Placement Market in Thailand, October-December 2023

＜Market Overview in Thailand＞

The National Electric Vehicle Policy Committee, chaired by the Prime Minister of Thailand, has launched the EV3.5 program to boost domestic EV production and investment. This includes subsidies and reduced import tariffs.

While Chinese automakers continue to expand their market share (currently holding the fourth-largest share of battery-powered passenger car registrations in 2023), Japanese automakers are also stepping up their presence. Four key players have pledged an investment of approximately 615 billion yen over the next five years for local EV production.

＜Local Hiring Trends among Companies in Thailand＞

Many Japanese-affiliated companies have slowed their hiring around the new year, but plan to ramp up in the coming months. While demand for Chinese speakers is rising due to the expansion of Chinese companies, the limited pool of candidates presents a recruitment challenge.
 
Across Southeast Asia, Vietnam is attracting increasing attention, while Thailand remains a target for expansion. The need for local staff in newly established companies is strong, particularly for managerial, administrative, and specialized roles like accounting and IT. However, a widespread shortage of qualified candidates is lengthening the hiring process.

＜Job-Seeker Trends in Thailand ＞

The current economic climate, with a weak yen, is driving more Japanese job seekers to consider overseas opportunities to support their children's education. However, few are exclusively focused on Thailand; it's generally one option among several. To remain competitive in attracting these candidates, companies must make their offers as attractive as possible.