Search Results for: economy

  • Thailand News

    PM Srettha’s 122 billion baht budget boost to stimulate economy

    Prime Minister Srettha Thavisin launched the first reading of an additional budget for fiscal 2024, earmarking a whopping 122 billion baht for economic stimulus through the digital wallet scheme. Addressing the House, the Thai Premier outlined the government’s plan to disburse a 10,000-baht digital handout, aimed at enhancing the quality of life and generating job opportunities. “We cannot afford to…

  • Business News

    Thailand disburses 3.48 trillion baht budget to boost economy

    An injection of 3.48 trillion baht from the 2024 fiscal budget has finally been disbursed in the second quarter of this year, following delays that began on October 1 last year due to political setbacks after the General Election in May 2023. With economic growth stagnating, public expenditure is seen as a crucial factor to revive subdued private spending and…

  • Thailand video news

    Thailand Video News | Thai MP proposes legalising pornography and sex toy industries to boost economy, British yoga teacher stranded at Bangkok airport due to torn passport

    In Thailand Video News today, Alex discusses a Thai MP’s proposal to legalise the pornography and sex toy industries in an effort to boost economic growth. A British yoga teacher is stuck at Suvarnabhumi Airport after being stopped from flying due to a tear in her passport. Thailand’s Election Commission has endorsed 200 new senators, and a 2.0 magnitude earthquake…

  • Thailand News

    Thai MP aims to ‘stimulate’ economy with sex industry legalisation

    A Move Forward Party (MFP) MP today announced plans on social media to legalise professions related to the pornography and sex toy industries in Thailand by revising the Criminal Law of Thailand. The revision draft is expected to be proposed during Parliament today, July 10. The MFP MP, Taopiphop Limjittrakorn, shared his plan to legalise professions related to porn and…

  • Business News

    US economy thrives in 2024, China faces challenges

    The US economy has been robust throughout 2024, buoyed by strong consumer spending, fiscal stimulus, and a thriving labour market. In contrast, Europe and Asia, particularly China, have faced economic challenges, with China’s real estate market issues impacting its overall economic performance. However, there are optimistic signs for the remainder of 2024 and into 2025. China’s leadership is beginning to…

  • Business News

    Northeast plans NEC to boost economy at mobile Cabinet meeting

    Private sector representatives in the northeast are set to present a series of economic stimulation projects, including the establishment of the Northeastern Economic Corridor (NEC), during the mobile Cabinet meeting in Nakhon Ratchasima on July 2. Hatsadin Suwattanapongchet, Secretary of the Northeastern Industrial Federations, announced that the NEC, traversing Nakhon Ratchasima, Khon Kaen, Udon Thani, and Nong Khai, will emulate…

  • Business News

    Weak economy and loan restrictions further plummets pickup sales

    Domestic car sales are facing significant challenges as pure pickup sales dropped by 40.8% in the first five months of 2024, primarily due to a weak economy and difficulties in accessing loans, according to the Federation of Thai Industries (FTI). From January to May, sales of pickup trucks fell by 40.8% year-on-year to 75,510 units. While sales of pickup passenger…

  • Business News

    Food delivery market grows as economy threatens restaurants

    The online food delivery market in Thailand is experiencing growth but the challenging economy might force closures of between 50,000 and 100,000 small restaurants. Thailand has approximately 700,000 restaurants, including mobile street vendors, with the total business valued at 800 billion baht. Online food delivery services contribute 15% to this total. Chief Executive of Line Man Wongnai, Yod Chinsupakul, reports…

  • Visa Information

    Thailand unveils new visa measures to boost tourism and economy

    Government spokesperson Chai Watcharong revealed new visa issuance measures aimed at boosting tourism and stimulating Thailand’s economy, following a Cabinet meeting. While many specific details of the visas and potential regulations remain under wraps, more information is expected to be released early next month. The Thai Cabinet approved a comprehensive tourism policy to counteract the nation’s prolonged economic stagnation and…

  • Business News

    Pride Month to boost Thai economy by 4.5 billion baht

    June’s Pride Month is anticipated to stimulate over 4.5 billion baht in economic activity, according to Deputy Prime Minister and Commerce Minister Phumtham Wechayachai. Phumtham announced yesterday that the government, led by Prime Minister Srettha Thavisin, is actively endorsing sexual diversity and collaborating with the private sector to organise additional Pride Month festivities. These events aim to attract LGBTQ+ tourists…

  • Thailand News

    Khon Kaen Zoo opens for wild mushroom harvesting, aids economy

    Khon Kaen Zoo opened its Khao Suan Kwang area to villagers for wild mushroom harvesting, aiming to boost the local economy through sales to tourists and family consumption. The early arrival of the rainy season this year has led to a noticeable increase in rainfall across the Khao Suan Kwang mountain area, resulting in lush greenery and a significant growth…

  • Thailand News

    Lack of digital literacy in Thai workforce likely to effect economy

    The National Economic and Social Development Council (NESDC) raised concerns over the state of literacy and digital skills among the youth and workforce, citing potential detrimental effects on the economy in the coming years. According to NESDC Secretary-General Danucha Pichayanan, recent surveys indicate alarming figures with 64.7% of individuals possessing literacy skills below international standards, while 74.1% exhibit substandard digital…

  • Thailand News

    Srettha unveils plans for Thailand’s economy at UBS conference

    At the UBS Asian Investment Conference 2024 in Hong Kong, Prime Minister Srettha Thavisin showcased a visionary blueprint for Thailand’s economic revolution. Addressing over 2,000 participants and 300 companies from the Asia-Pacific region, he laid out a series of strategic initiatives designed to attract global investment and drive innovation and sustainability. The 62 year old PM emphasised the nation’s readiness…

  • Business News

    Thailand PM calls urgent meeting with economy ministers

    Thailand Prime Minister Srettha Thavisin called for an urgent meeting with economy ministers to discuss short-term economic stimulus measures to address Thailand’s sluggish economic performance in the first quarter of 2024. The National Economic and Social Development Council (NESDC) reported that Thailand’s economy grew by only 1.5% year-on-year for the first three months of 2024. This lacklustre growth has prompted…

  • Business News

    Loan and behold: NPLs spike as economy recovery stumbles

    The Bank of Thailand reported a rise in non-performing loans (NPLs) within the banking industry for the first quarter, attributing the increase to all types of loan products amidst an uneven economic recovery. NPLs in the banking sector reached 502 billion baht, equivalent to 2.74% of total outstanding loans in the first quarter, an increase from 2.66% in the previous quarter.…

  • Cannabis

    Thai economy will be affected by heavy cannabis regulation

    Let’s chat about a hot topic, shall we? Cannabis regulation in Thailand is like trying to find your way through a maze with no map. Now, on one hand, we’ve got this booming black market that’s ready to party when the government says no fun allowed and puts restrictions on recreational use. But on the other side of the coin,…

  • Lifestyle

    The pros and cons of participating in the gig economy

    With the rise of the gig economy, more people these days are choosing to work as independent contractors and freelancers. Since it provides flexible, temporary work options and introduces a fresh viewpoint on autonomy and work-life balance, it is revolutionising the traditional job market. However, because it has less job stability and typical employment benefits, it raises questions about equality…

  • Thailand News

    New Finance Minister Pichai pledges to boost Thailand’s economy

    Newly appointed Finance Minister Pichai Chunhavajira pledged to accelerate initiatives aimed at addressing household debt, stimulating the economy, and raising personal income. Pichai, who previously held the chairman position at the Stock Exchange of Thailand and served as the prime minister’s advisor, observed a consistent decline in the country’s economic growth rate over the past two decades during his inaugural…

  • Business News

    IBM Thailand Director emphasises AI’s impact on economy

    As Thailand grapples with geopolitical conflicts, economic barriers, and technological disruptions, the newly appointed managing director of IBM Thailand shared his vision for the nation’s future. Anothai Wettayakorn emphasised the critical importance of focusing on controllable factors in a complex world and said that strategic planning and positivity could bring about positive change. Anothai went on to highlight the exceptional convergence…

  • Thailand News

    Cabin crew reveals top three seats to avoid in economy class

    In recent guidance, an airline cabin crew member has identified the three worst seats in the economy class and advised passengers to avoid them if possible. When booking flights, especially in economy class, passengers often seek the best available comfort within the constraints of their budget. The advice from the cabin crew member aims to enhance passenger comfort by steering…

  • Business News

    Thailand advances its bid for OECD membership to boost economy

    Thailand is forging ahead with its application to become a member of the Organisation for Economic Cooperation and Development (OECD), a move that is anticipated to significantly enhance the country’s economic growth. The Thai Foreign Affairs Minister, Parnpree Bahiddha-Nukara, took a proactive step on Tuesday, April 16, by submitting an official letter of intent to Mathias Cormann, the secretary-general of…

  • Tourism News

    Songkran expected to boost Thailand’s economy with billions

    The Songkran festival in Thailand this year is anticipated to bring between 140 and 200 billion baht into the country’s economy. The festival, which has been recognised as an Intangible Cultural Heritage event by Unesco, is predicted to attract 10 million international visitors who will contribute 11.8 billion baht to the total spending. In light of the festival’s recognition, the…

  • Business News

    Thai govt plans huge digital wallet handout to boost economy

    The Pheu Thai Party government, led by Prime Minister Srettha Thavisin, is set to roll out a massive digital wallet handout scheme worth 500 billion baht (US$13.75 billion) in the fourth quarter of this year. The scheme, which is designed to stimulate economic activity, involves transferring a sum of 10,000 baht (US$275) to 50 million Thai citizens, intended to be…

  • Business News

    Thai economy forecasts growth between 2.8% and 3.3%

    The Thai economy, driven primarily by exports, forecasts growth between 2.8% and 3.3% for this year, as reported by the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB). The committee, representing diverse sectors, has retained its initial forecast, projecting a 2.0% to 3.0% increase in exports. Following a 1.9% expansion in the previous year, Thailand’s economic growth is projected…

  • Thailand News

    Parliament in favour of legalising gambling to boost economy

    The House of Representatives voted in favour of legalising gambling while boosting the nation’s economy. The special commission championing the creation of integrated entertainment complexes unveiled its plan, urging the government to join hands with the private sector. The commission stressed that public involvement is key, advocating for the legalisation of specific gambling forms like Thai boxing to drive this…

  • Thailand video news

    Thailand Video News | PM floats legalizing casinos to boost economy, Aussie arrested in Koh Pha Ngan after joyriding in stolen motorbike

    In this video, Alex captures news across the country. From the dismissal of an Air India pilot due to alcohol misconduct during a Phuket-Delhi flight, to the bold proposition by Thai Prime Minister Srettha for the legalization of casinos as a means to bolster the economy and tackle illegal gambling, the region grapples with issues spanning from aviation safety to…

  • Thailand News

    Thailand mulls over legalising casinos to boost economy

    Thailand Prime Minister Srettha Thavisin advocated for the establishment of entertainment complexes housing casinos in the country. The 62 year old prime minister stated his belief yesterday, March 28, that legalising casinos could potentially extinguish illegal gambling dens and divert gamblers’ money towards the state. The Thai PM further added that these complexes would operate under proper regulations, leading to…

  • Thailand News

    PM Srettha: Legalise casinos to save Thailand’s economy

    Prime Minister Srettha Thavisin advocated for the legalisation of casinos to combat the shadowy underworld economy in Thailand. PM Srettha outlined his vision for a new law permitting entertainment complexes housing legal casinos, aiming to drag illicit activities into the light and bolster national revenue streams. “We have to bring the grey [underground] economy into the light to allow us…

  • Business News

    Q-Con’s land acquisition set to boost southern Thailand’s economy

    The Industrial Estate Authority of Thailand (IEAT) anticipates its recent land sale to Quality Construction Products Plc (Q-Con), a lightweight brick manufacturer, to bolster the increasing demand for bricks and endorse the government’s economic upliftment plan for the southern region. Situated in the Southern Region Industrial Estate, the 35-rai land was acquired by Q-Con, which had committed to a purchase…

  • Business News

    Thai economy falters as high interest rates impact major sectors

    The Thai economy has taken a hit, with government revenue collections falling short of the target. Lavaron Sangsnit, the permanent finance secretary, attributed the shortfall to high interest rates, which have significantly reduced the purchasing power of consumers, impacting major sectors such as automobiles and real estate. Consumers, particularly those interested in purchasing cars or homes, have found their ability…