Chiang Rai vs Chiang Mai: Revenue per Company 2026
In short
Chiang Rai's average registered company earns 15.71 million baht in revenue, as of 17 July 2026. Chiang Mai's average company earns only 8.11 million baht, close to half as much. Chiang Mai still carries far more companies than Chiang Rai, a count 3.49 times larger. Yet Chiang Mai's total revenue is only 1.80 times Chiang Rai's, nowhere near that 3.49 times gap. Spread a similar economy across a much bigger company base and the average firm gets smaller, not richer.
Does more companies mean more revenue per firm in the north?
The bigger business hub loses on this measure. Chiang Rai's average registered company earns 15.71 million baht in revenue, according to DBD data as of 17 July 2026. Chiang Mai's average company earns only 8.11 million baht, a little over half as much. Divide one figure by the other and Chiang Rai's typical firm brings in 1.94 times what a Chiang Mai firm brings in. Chiang Mai still runs the larger economy in absolute terms, with 65,164 registered companies against Chiang Rai's 18,652, a company count 3.49 times higher. That size advantage does not carry through to the per company math. Chiang Mai's total revenue of 528.72 billion baht is only 1.80 times Chiang Rai's 292.97 billion baht, far short of its 3.49 times lead in company count.
Revenue per registered company, Chiang Rai vs Chiang Mai
- Chiang Rai16
- Chiang Mai8
- Thailand, national average40
Figures in million baht per company.
Chiang Rai's smaller company base still earns more per firm than Chiang Mai's, and both sit well under the national average.
Companies, revenue and revenue per company
| Province | Registered companies | Total revenue (billion baht) | Revenue per company (million baht) |
|---|---|---|---|
| Chiang Rai | 18,652 | 292.97 | 15.71 |
| Chiang Mai | 65,164 | 528.72 | 8.11 |
| Thailand, national average | 1,989,709 | 80,146.50 | 40.28 |
Registered companies, total revenue and revenue per company by province, as of 17 Jul 2026.
Why the per company gap matters
The gap says more about how each province filled its economy than about which one is managed better. Chiang Mai's tourism, education and services base draws a large number of small operators, so its company count has grown faster than its revenue base. Chiang Rai counts far fewer companies, and its economy leans more on agriculture, cross border trade and a smaller set of larger operators, so revenue concentrates in fewer names. Neither province gets close to Bangkok's scale. Chiang Rai's per company figure sits at 0.39 times the national average of 40.28 million baht, and Chiang Mai's sits at just 0.20 times that average. A founder weighing where to register a new company should read a high company count as a sign of competition, not opportunity. A crowded market with a shrinking slice of revenue per firm is a harder market to win on price alone.
Definitions
- Revenue per company
- Total reported revenue for a province divided by its count of registered companies, an aggregate figure rather than an average of individual company results.
- Registered company
- A juristic entity on file with the DBD registry under a given province, whether or not it has filed a financial statement.
- Total revenue
- The sum of reported revenue across all companies in a province that filed a financial statement, as aggregated in the source data.
- National average
- Total reported revenue across all of Thailand divided by the national count of registered companies, used here as a benchmark for both provinces.
Assumptions
- Revenue per company divides total reported revenue by every registered company in the province, including many that have not filed a financial statement, so the figure understates what an active reporting company alone earns.
- Province is assigned by the registered address on file with DBD, which can differ from where a company actually operates or sells.
- Figures are aggregates that describe each province's registered company base as a whole. They make no claim about any single company or its directors.
Methodology
Revenue per company is total reported revenue for a province divided by its count of registered companies, drawn from the DBD registry as aggregated in the market_province_insight table, as of 17 July 2026. Total revenue is the sum of reported revenue across companies in that province that filed a financial statement. The registered company count includes every company on file for that province, filers and non filers alike, so the resulting average is a province wide figure, not an average of individual company margins.
How we verified this
- Chiang Rai revenue per company recomputed as 292,968,493,878.34 divided by 18,652 equals 15,707,082 baht, rounded to 15.71 million.
- Chiang Mai revenue per company recomputed as 528,719,407,450.49 divided by 65,164 equals 8,113,673 baht, rounded to 8.11 million.
- Per company ratio recomputed as 15,707,082 divided by 8,113,673 equals 1.94, confirming Chiang Rai's average firm earns nearly double Chiang Mai's.
- Company count ratio recomputed as 65,164 divided by 18,652 equals 3.49, confirming Chiang Mai has 3.49 times as many registered companies.
- Total revenue ratio recomputed as 528,719,407,450.49 divided by 292,968,493,878.34 equals 1.80, well below the 3.49 times company count ratio, which is the arithmetic reason the per company average falls in Chiang Mai.
- National average per company recomputed as 80,146,498,562,463.62 divided by 1,989,709 equals 40,280,513 baht, and both provinces confirmed below that figure at 0.39 and 0.20 times respectively.
References
- Department of Business Development. (2026). Registered juristic persons and financial statement aggregates. Ministry of Commerce, Thailand. https://www.dbd.go.th/
- Office of the National Economic and Social Development Council. (2025). Gross regional and provincial product (GPP). https://www.nesdc.go.th/en/info/gross-regional-and-provincial-product-gpp/
Frequently asked questions
Which province earns more revenue per company, Chiang Rai or Chiang Mai?
Chiang Rai does, with an average of 15.71 million baht in revenue per registered company against Chiang Mai's 8.11 million, according to DBD data as of 17 July 2026.
Why does Chiang Mai have so many more companies but not more revenue per firm?
Chiang Mai holds 65,164 registered companies against Chiang Rai's 18,652, a count 3.49 times larger. Its total revenue is only 1.80 times higher, so the extra companies dilute the average instead of adding proportional revenue.
How do Chiang Rai and Chiang Mai compare with the national average revenue per company?
Both trail it by a wide margin. The national average is 40.28 million baht per company, so Chiang Rai runs at 0.39 times that level and Chiang Mai at 0.20 times, which shows how much national revenue concentrates outside the north.
Cite this page
Chatpong L. (2026). Chiang Rai vs Chiang Mai: Revenue per Company 2026. Max Data Insights. https://maxdatathailand.com/insights/chiang-rai-vs-chiang-mai-revenue-per-company-2026
Data & corrections
Download the data (CSV)Spot something off, or want to ask about the data? Email insights@maxsolutions.co.th. We publish corrections.
Written by
Chatpong L.Founder, Max Data, Max Solutions Co., Ltd.
Chatpong L. leads Max Data, a company-intelligence platform built on Thailand's official business registry. He writes about the structure of the Thai economy using primary registry data. His work covers company formation, industry concentration, and regional business activity.
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This page reports company-level and aggregate statistics only. It names no individuals and makes no claims about any person. Figures are provided for information and may be revised as source data updates.