Economy News
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Why is Bangkok's air quality so bad?
Imagine waking up early in Bangkok and you see all the beautiful morning fog from your balcony, but as you sip your coffee you realise it's just Bangkok's air pollution that's making the sun rise aesthetic. Ranked as the 36th...
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Thailand banks on foreign investment to power economic surge
Bangkok Bank remains bullish on a surge in foreign direct investment (FDI) into Thailand, anticipating it will turbocharge the nation’s economy in the coming years despite global uncertainties. At the 2025 ASEAN Business Forum helmed by the bank last Thursday, Bangkok Bank President Chartsiri Sophonpanich unveiled striking figures: Thailand’s investment applications soared by 35% in 2024, hitting a decade peak…
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Population decline: Thailand’s birth rate hits 75-year low
Mahidol University highlighted a significant demographic issue as Thailand recorded fewer than 500,000 births in a year for the first time in 75 years. In 2024, the country registered only 462,240 births, a marked decrease from 519,000 in 2023. Associate Professor Chalermpol Chamchan from Mahidol’s Institute for Population and Social Research noted that this is the fourth consecutive year where…
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Power play: Thailand set to slash electricity bills with tariff tweak
In a shock move that could see electricity bills slashed, the Energy Regulatory Commission (ERC) is eyeing a reduction in the power tariff by 0.17 baht per kilowatt-hour. This welcome change hinges on the government trimming its budget for renewable energy promotion. At present, the power tariff stands at 4.15 baht per unit, with a chunk earmarked for renewable energy…
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Israel to open 13,000 agriculture jobs for Thai workers
Some 13,000 jobs in the agriculture sector are set to be made available for Thai workers, as announced by Israeli Agriculture and Rural Development Minister Avi Dichter. In recent discussions held in Jerusalem, senior Thai officials, including Labour Minister Phiphat Ratchakitprakarn and Department of Employment Director General Somchai Morakotsriwan, met with Dichter. The Thai delegation visited Beit Hilkia Moshav on…
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Thai tax tangle: Expats warned of new rules on overseas income
A packed meeting of the Pattaya City Expat Club turned into a lively debate as members received crucial updates on Thailand’s controversial new tax policy regarding overseas income transfers. Hosted by Thomas Carden, director of American International Tax Advisers, and tax attorney Patcha Inkudanonda, the session offered clarity, and raised fresh concerns, about the Thai Revenue Department’s evolving guidelines. Patcha…
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Second phase of 10,000 baht handout for elderly starts January 27
Finance Minister Pichai Chunhavajira announced that the second phase of the government’s 10,000 baht cash handout will start on January 27, two days earlier than initially planned. This phase will target approximately 3.5 to 4 million elderly citizens aged 60 and above, who will receive the funds through the government’s PromptPay app. The economic stimulus programme was originally designed to…
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Thailand boosts durian export checks after China ban
Thailand’s Ministry of Agriculture and Cooperatives is set to enhance its contamination screening processes for durians before export to China, following a temporary ban imposed by the country. Agriculture and Cooperatives Minister Narumon Pinyosinwat announced yesterday, January 14, that each durian shipment will undergo testing for Basic Yellow 2, a cancer-causing dye, along with cadmium and durian borers, prior to…
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Chulalongkorn University announces the ‘Future of Jobs 2025’
Chulalongkorn University President, Professor Doctor Wilert Puriwat, announced the findings from the Future of Jobs 2025 report. Chulalongkorn University is the only partner institution in Thailand to collaborate with the World Economic Forum (WEF) to propose a roadmap for coping with changes in the labour market over the 2025 to 2030 period. The report is based on a survey of…
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Thailand greenlights legal casinos to boost tourism and economy
In a game-changing move, the Thai Cabinet has given the nod to a draft bill that would legalise gambling and casinos, aiming to turbocharge tourism, job creation, and investment. Prime Minister Paetongtarn Shinawatra announced the bold move today, January 13, heralding a new era for the country’s economy. Under the government’s ambitious plan, the legislation, soon to be debated in…
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Taxing tunes: Music giant pitches cut to boost Thailand’s soft power
Thailand’s largest music company made a bold appeal to the government for a corporate tax reduction in the entertainment sector, arguing it could supercharge the industry and bolster the nation’s soft power ambitions. GMM Music Plc CEO Phawit Chitrakorn paints a picture of an industry that thrives on slim profit margins, clocking in at a modest average of 10%. Phawit…
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Thailand’s new housing project targets lower income families
Lower-income Thai citizens will soon have access to an affordable housing project through the Homes for Thais initiative, which offers accommodation on state-owned land without requiring down payments. The programme instead implements a monthly rental system. The Transport Ministry will present the project details to Cabinet today, January 13. Prime Minister Paetongtarn Shinawatra will launch the initiative on Friday, January…
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Rice to the occasion: Commerce Ministry fast-tracks SME trade talks
The Commerce Ministry is moving to accelerate the liberalisation of rice trade, with a meeting planned for January 17. This session aims to finalise strategies to assist small enterprises in becoming rice exporters, targeting concrete outcomes in the first quarter of the year. During a meeting on January 10 to discuss pressing policies, Commerce Minister Pichai Naripthaphan instructed all departments…
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Tourism stocks tumble amid Chinese tourist fears
Thai tourism stocks took a hit this morning as concerns mounted over a potential decline in Chinese tourist arrivals during the Chinese New Year. The drop follows revelations about a Chinese actor, Wang Xing, who was found in Myanmar and is suspected to have been a victim of human trafficking. This incident has cast a shadow over Thailand’s safety reputation.…
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Central Pattana’s 500 million baht Chinese New Year splash
Central Pattana Plc (CPN) isn’t playing small this Chinese New Year as they, together with Central Department Store Co Ltd (CDS), unleash a mega 500-million-baht spending spree on their dazzling The Great Chinese New Year bash. Running from now until February 6, this vibrant celebration is expected to dazzle at Central malls nationwide, including the ever-busy Esplanade Ratchada. Leading the…
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From heiress to hero: Thai FA Madam Pang’s journey
Madam Pang, a fifth-generation heiress from Thailand’s billionaire Lamsam family, has transformed Thai football with her passion, leadership, and jaw-dropping generosity. Born Nualphan Lamsam, the 58 year old business mogul comes from one of Thailand’s wealthiest families, with an estimated net worth of US$890 million (approximately 30.82 billion baht). As CEO of Mueang Thai Insurance and a pioneer in introducing…
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Dream homes for less: Thai govt rolls out affordable housing project
Thais earning under 50,000 baht per month are being offered a golden opportunity to own a home in the city through the government’s “Baan Pheu Khon Thai” (Homes for Thais) initiative, with registration set to open on January 20. The project, announced by Transport Minister Suriya Juangroongruangkit, aims to provide affordable, fully furnished housing near urban centres, leveraging land owned…
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Power play: Thailand plugs into cutting electricity costs
The Government of Thailand is actively exploring methods to reduce electricity costs, as suggested by former Prime Minister Thaksin Shinawatra, according to Deputy Prime Minister Pichai Chunhavajira. Responding to Thaksin’s remarks, the de facto leader of the ruling Pheu Thai Party, Pichai noted that Thaksin had assured voters in Chiang Rai of the government’s intention to decrease energy prices to…
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Thailand revives trade with Pakistan in major economic pact
After a decade of silence, Thailand and Pakistan are back at the negotiating table, reigniting hopes for a booming trade partnership. The two nations have agreed to resume talks under their Joint Trade Committee (JTC) at the ministerial level, with Thailand hosting the next round of discussions later this year. In a recent meeting between Thailand’s Minister of Commerce, Pichai…
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Thailand’s N3 lottery might be scrapped due to poor sales
The Finance Ministry is evaluating the future of the N3 lottery due to its lacklustre public response since its introduction last November. Deputy Finance Minister Julapun Amornvivat announced yesterday, January 7, that the three-digit lottery (N3), designed to rival illegal lotteries and expensive six-digit tickets (L6), has not met expectations during its trial phase. Introduced on November 1 as part…
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Elderly cash windfall: Thai govt handouts confirmed by January 29
The Thai government has officially confirmed that elderly citizens will receive their long-awaited 10,000 baht stimulus payments before January 29. Deputy Finance Minister Julapun Amornvivat, spilled the beans during a press conference at the Ministry of Finance today, January 7. “We assure you, the 10,000-baht payments will hit accounts before the deadline. The exact transfer date hinges on a final…
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Scrubs to feathers: Retired nurse rakes in a nest egg with ostriches
A retired nurse from Trang’s Mueang district has traded scrubs for feathers, earning a tidy nest egg by raising ostriches and selling their eggs and chicks. Prachuap Singkerk has transformed a two-rai plot of land next to her home into an ostrich haven, where she cares for nine of the towering birds: four males and five females. These industrious ostriches…
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Thailand’s household debt set to decline faster than expected
The Bank of Thailand is optimistic as the nation’s household debt-to-GDP ratio is projected to fall more swiftly than previously anticipated. This promising outlook is driven by ongoing debt reduction strategies and the introduction of a new debt relief programme. According to the central bank’s latest financial stability report for 2024, there’s a noticeable drop in the household debt-to-GDP ratio,…
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Sweet profit: Lopburi melon farm thrives with high demand
The Orapan Melon Farm in Lopburi province has become a beacon of agricultural success, with its melons in high demand and orders booked well into the next year. Located in the Suratikarn Organic Farmers Group area, the farm cultivates two melon varieties: the Sanwan melon, a Japanese-style fruit with green netted skin and sweet, fragrant flesh, and the Thaihao melon…
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Thailand to revise minimum wage across provinces from January
Thailand is set to implement a new minimum wage structure across its 77 provinces from January 1, 2025. The decision was made following an extensive meeting led by Boonsong Thapchaiyuth, Permanent Secretary of the Ministry of Labour. The meeting, which took place yesterday, December 23 and lasted over five hours, resulted in a unanimous agreement on the new wage rates,…
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Thailand secures South Korean investment in Smart Park project
The Industrial Estate Authority of Thailand (IEAT) has successfully attracted an investment commitment of US$500 million (approximately 17 billion baht) from South Korean investors for the development of Smart Park. The initiative, part of the Now Thailand – The Golden Era campaign, aims to position Thailand as a prime destination for international business ventures. Yuthasak Supasorn, Chairperson of IEAT, welcomed…
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Thailand’s credit card industry faces toughest challenge in 20 years
The credit card industry in Thailand is bracing for its most formidable challenge in two decades, a situation attributed to an anticipated weak economy next year, as highlighted by the Thai Bankers’ Association’s credit card club. Atis Ruchirawat, chair of the club, emphasised that the unsecured loan sector, encompassing credit cards and personal loans, has already felt the tremors of…
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Expensive seafood in Thailand sparks online debate
A customer’s disappointment over an expensive seafood purchase has sparked a heated online debate. After ordering fresh salmon for 200 baht and steamed blue crabs for 120 baht, a woman found her portions to be smaller than expected. The woman’s complaint was met with the vendor’s unapologetic response that this was their standard practice, igniting further criticism from social media…
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Thailand rolls out red carpet with bigger rebates for filmmakers
The Thail Cabinet approved an increase in the rebate offered to foreign film productions, raising it to a range of 15 to 30% to attract more international filmmakers to shoot in the country. This decision, announced by Jirayu Huangsap, spokesperson for the Prime Minister’s Office, is part of a revised strategy to bolster Thailand’s appeal as a filming destination. The…
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Thailand aims to boost trade with Mongolia to 2027 goals
Thailand is gearing up to expand its trade relations with Mongolia, aiming to surpass the 100 million US dollar mark in trade value by 2027. Following discussions with Amarsanaa Tumur, Mongolia’s Ambassador to Thailand, the Minister of Commerce, Phichai Naripthaphan, highlighted efforts to bolster economic cooperation through the Thailand-Mongolia Joint Trade Committee. This initiative aims to open new markets for…
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Thai pig farms face closure risk amid pork oversupply crisis
The Swine Raisers Association of Thailand (SRAT) expressed growing concern that small pig farms could face closure due to an increasing oversupply of pigs, as larger farms aggressively expand their production capabilities. This oversupply issue arises from major pig farms in Thailand continuously boosting their production without aligning with the actual market demand for pork, according to SRAT President Sitthiphan…
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