Thailand is my favorite spot (surprise), I've been to a lot of places in Asia, and while I've had great times and enjoyed them, none have been as good as Thailand. And certainly none of them would be a place I would want to live (except maybe Hong Kong, if I had a big salary and could travel a lot).
Bangkok and Thailand has so many advantages, cheap food, cheap hotels, great shopping, movies, etc...
Travel wise there are 100's of places to go inside Thailand, lots of islands (Phuket being the worse of them :) ) , national forests, ancient ruins in the North, etc...
I have a long list of places inside Thailand I still want to visit.
Plus Thailand is centrally located, making it easy to visit Cambodia, Vietnam, Indonesia, Nepal, China, etc...
And Thais are friendly people (most of them), that is not the feeling I get traveling around Vietnam and China. Balinese and Laos are also very friendly and two of my favorite spots to go.