Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Sponsored Why health insurance costs more each year and how expats in Thailand can save more money
Each year, many expats living in Thailand see their health insurance premiums go up and often without a clear reason. This can be frustrating, especially when you're trying to plan your budget. But by understanding why prices rise and learning...
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Thailand leads ASEAN dairy market with 19 billion baht in revenue
Thailand has emerged as a leader in the ASEAN dairy market, generating over 19 billion baht in revenue, according to a government spokesperson. The country’s strategic use of Free Trade Agreements (FTAs) has bolstered exports of processed milk products across ASEAN. Anukool Pruksanusak, deputy spokesperson for the Prime Minister’s Office, reported that Thailand has maintained its top position in ASEAN…
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Stable vision: Binance pushes for baht-backed crypto in Phuket
The Government of Thailand is being urged by Binance’s Thai branch to explore the development of stablecoins tethered to the baht, intended for use within the country and particularly within the proposed Phuket crypto sandbox. Unlike volatile digital assets such as Bitcoin, stablecoins are linked to fiat currencies, offering a more stable alternative. Nirun Fuwattananukul, CEO of Gulf Binance, explained…
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Taxing decisions: Thai businesses brace for higher import duties
Thailand’s business entrepreneurs are leaning towards higher import tariffs should the government forge ahead with its ambitious tax reform plans, according to a fresh poll from the Federation of Thai Industries (FTI). This survey follows hot on the heels of Finance Minister Pichai Chunhavajira unveiling a set of tax reform proposals designed to swell state coffers, fuel national development, sharpen…
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Fuelling growth: Thailand’s energy use rises as tourism powers up
The Department of Energy Business revealed fuel consumption in Thailand saw a 2.1% rise last year, reaching a daily average of 155.4 million litres, in tandem with an estimated GDP growth of 2.6-2.7%, largely fuelled by bustling tourism-related industries. In 2023, total fuel consumption was slightly less, at 152.3 million litres per day. Jet fuel, driven by the surge in…
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HKTDC unveils 7 LifeStyle Trade events in April
The Hong Kong Trade Development Council (HKTDC) will unveil the 7 LifeStyle Trade Events, covering gifts, houseware, fashion, printing and packaging, and licensing from April 27 to 30. With the latest products and trends on display under one roof, the events will feature a selection of lifestyle products and services from around the world, maximising and diversifying buyers’ sourcing in…
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Price hike strikes again: Inflation on a ten-month hot streak
Inflation in January has surged to 1.32%, continuing a relentless ten-month climb, with fuel, food, and beverage costs driving the increase. Poonpong Naiyanapakorn, Trade Policy and Strategy Office (TPSO) chief, disclosed that the consumer price index has jumped by 1.32% compared to the same time last year. It’s the second consecutive month where inflation has breached the 1% mark. A…
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Thai banks to ban mule account transactions next month
The banking sector will introduce a ban on financial transactions involving mule accounts next month, adhering to a directive from the Bank of Thailand. Following a recent meeting of the Joint Standing Committee on Commerce, Industry and Banking, Payong Srivanich, chairman of the Thai Bankers’ Association, announced that banks are upgrading their operational and security systems to block transactions across…
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Thai fruit exports set for boost with 3.5 billion baht deals
The Commerce Ministry of Thailand organised a business matching event focused on fruit and agricultural products, alongside a signing ceremony for memorandums of understanding (MoUs) between Thai exporters and international buyers. These initiatives are anticipated to boost export sales by 3.5 billion baht (US$104 billion). Deputy Commerce Minister Napintorn Srisunpang reported that 96 Thai fruit export companies, along with 65…
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IMPACT invests 5 billion baht to expand MICE hub
IMPACT Exhibition Management Co Ltd is making a bold move to dominate Thailand’s meetings, incentives, conferences and exhibitions tourism (MICE) industry, investing 5 billion baht in two new hotels to transform Mueang Thong Thani into a world-class event and entertainment hub. The investment, part of a long-term expansion strategy, will position IMPACT as a key player in the government’s proposed…
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Bank of Thailand targets illegal loan apps for removal
The Bank of Thailand (BoT) has identified 10 mobile applications offering personal loans illegally and is taking steps to have them removed from the App Store and Google Play Store. Pirajit Padmasuta, the central bank’s senior director for financial consumer protection and supervision of financial service providers, stated that the regulator initially reported the 10 verified illegal apps, including Fineasy…
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Unregistered hotels could boost tourism revenue to 3.5 trillion baht
Unregistered hotel operators entering the registration system could significantly increase hidden tourism revenues, potentially reaching 3.5 trillion baht if successful, according to the Tourism and Sports Ministry. Tourism and Sports Minister Sorawong Thienthong stated that the annual revenue reported by the ministry is lower than the actual tourism figures due to the extensive informal economy, which includes illegal accommodations and…
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Commerce Ministry acts to remove unsafe products from e-commerce
The Commerce Ministry is collaborating with 16 government agencies and prominent online platforms to tackle the issue of substandard and non-compliant products on e-commerce platforms. Under the notice and takedown policy, products identified as substandard will be promptly removed, according to Commerce Minister Pichai Naripthaphan. This initiative aims to protect consumers from low-quality products in online marketplaces. The collaboration involves…
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Sky’s the limit: AIS takes off with HOVERAir X1 Pro Max drone
In a daring leap into the skies, Advanced Info Service (AIS) has launched its first drone, the HOVERAir X1 Pro Max, setting its sights on the lucrative drone market. The high-flying gadget is now ready for takeoff at AIS service shops, promising to boost revenue from retail outlets and capture the imaginations of tech enthusiasts and adventurers alike. In a…
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Smoke signals: Thailand cracks down on PM2.5 cross-border pollution
In a sizzling new move to tackle the smoggy skies, Thailand’s Department of Foreign Trade (DFT) sets its sights on cracking down on PM2.5 pollution stemming from cross-border agricultural antics. Their bold plan? To roll out strict measures that target corn imports, demanding ironclad proof that the golden kernels come from non-burning cultivation zones. In a hard-hitting proposal slated for…
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Gold prices soar to record heights amid Trump’s tariff turmoil
Gold is glittering like never before, with prices reaching record heights as jittery investors scramble for safe havens following United States President Donald Trump’s bombshell tariff threats against Mexico and Canada. The price of bullion saw a gleaming rise of up to 0.2%, hitting an all-time high of US$2,799.65 per ounce. This shiny achievement came hot on the heels of…
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Gem of a deal: Bangkok fair set to sparkle with 3.5 billion baht in trade
Organisers of the 71st Bangkok Gems & Jewelry Fair expect the event to generate over 3.5 billion baht in trade. Scheduled for February 22 to 26 at the Queen Sirikit National Convention Centre (QSNCC), the fair is hosted by the Department of International Trade Promotion (DITP) and the Gem and Jewellery Institute of Thailand, with support from various public and…
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Investors to pump 40 billion baht into Pattaya’s tourism sector
Investors are set to inject 40 billion baht into Pattaya, focusing on new hotels and attractions to enhance tourism. On Wednesday, January 29, Wallaya Traisorat, CEO and President of Asset World Corporation (AWC) announced the opening of Meliá Pattaya Hotel, a 234-room property with an investment exceeding 2 billion baht. This hotel targets workcation travellers, digital nomads, meetings, incentives, conferences…
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Casino legalisation: A new opportunity for tourism in Thailand
Thailand is on an exciting yet possibly very controversial journey towards changing its tourism industry. The country is blessed with extraordinary beaches and enriching cultural sceneries. Long since it has been a popular destination for lovers of nature and tourism. Now the country is targeting a wealthier section of people with the desire to rejuvenate and experience luxury. This change…
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Smog threat looms over Thai tourism, hoteliers urge government action
Hotel operators are calling on the government to collaborate with the entire supply chain to address the smog issue before it significantly impacts tourism. Hostels have raised concerns about the financial burden of maintaining clean air for guests. Marisa Sukosol Nunbhakdi, executive vice-president of Sukosol Hotels, stated that there have been no cancellations or delays due to smog during the…
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Japan and China remain top spots for Thai tourists
Japan and China are anticipated to continue being the leading destinations for Thai tourists this year, with at least 2.5 million people expected to visit due to visa exemptions, weaker currencies, and a variety of tourism options. Charoen Wangananont, president of the Thai Travel Agents Association (TTAA), noted that these countries were the most popular at the Thai International Travel…
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South Korean tourists outnumber Chinese in Chiang Mai amid direct flights boost
The South Korean market may surpass the Chinese in terms of tourist arrivals in Chiang Mai this year, attributed to the increase in direct flights and favourable winter weather, as reported by the Tourism Authority of Thailand (TAT). Patsalin Swetarat, director of TAT’s Chiang Mai office, noted that a decline in safety confidence among Chinese travellers has somewhat affected tourism…
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New Hotel Act targets 500 unlicensed Thai hotels
The Tourism and Sports Ministry is set to propose a new Hotel Act specifically for small and medium-sized hotels, with the aim of registering over 500 unlicensed accommodations that currently cannot participate in the existing system. Tourism Vice-Minister Jakkaphon Tangsutthitham reported that more than 90,000 small and medium-sized accommodations in Thailand do not qualify as hotel businesses under the current…
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Google to build new cloud data centre in Chon Buri
Google is set to enhance its footprint in Thailand by constructing a new cloud data centre in Chon Buri, announced Google’s president and chief investment officer, Ruth Porat. Porat engaged with Prime Minister Paetongtarn Shinawatra during the World Economic Forum (WEF) in Davos on Wednesday, January 22. The Google executive expressed gratitude towards the Thai government for its support in…
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Thailand mandates biometric SIM registration to combat fraud
The board of the National Broadcasting and Telecommunications Commission (NBTC) has provisionally approved a draft for a new SIM card registration system, incorporating biometric data collection from mobile users. The proposed system mandates all mobile operators to implement liveness detection biometric technology for SIM card registrations. This move aligns with recent political calls for stricter measures to combat prevalent online…
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US and Thai stocks rise as Trump delays tariff hikes
Global and Thai stock markets experienced a short-term rebound following US President Donald Trump’s decision not to immediately increase import tariffs. Analysts have advised investors to remain vigilant regarding potential policy changes, as current conditions are unpredictable. On January 20, the price of West Texas Intermediate (WTI) crude oil declined after Trump announced plans to sign an executive order declaring…
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Thailand tops as dream destination for Southeast Asian travellers
Thailand has emerged as the top dream destination for Southeast Asian travellers, as revealed by Grab’s SEA Travel Insights 2024 report. Chantsuda Thananitayaudom, senior director of commercial and marketing at Grab Thailand, highlighted the importance of Southeast Asian tourists to Thailand’s tourism industry. In 2024, Thailand welcomed over 10.6 million travellers from Southeast Asia, representing 30% of its international arrivals.…
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MK Group goes MongKol: Thai hotpot chain’s CNY rebrand
In a sizzling marketing twist, Thailand’s leading Suki restaurant chain, MK Group, embraces the cultural phenomenon of “muketing” by rebranding four Bangkok branches to “MongKol” restaurants just in time for Chinese New Year. Muketing, a fusion of marketing and the Thai term mutelu (beliefs and superstitions), integrates lucky symbols, colours, and auspicious timings into business strategies. MK Group’s new MongKol branding,…
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Three million Thai elderly to receive 10,000 baht cash handout
Approximately three million elderly people are set to receive 10,000 baht (US$293) each as part of the second phase of the government’s cash handout initiative, according to Deputy Finance Minister Paopoom Rojanasakul. Paopoom indicated that a recent review identified 3.04 million elderly people 60 years old and over as eligible for the scheme. However, it is estimated that around 20,000…
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Trumping expectations: Bitcoin set to soar under US president
Bitcoin’s price is set to soar during the first three months of Donald Trump’s presidency, while a groundbreaking crypto sandbox in Phuket promises to double Thailand’s digital adoption rate of 12%, according to Binance’s Thai division, the world’s leading cryptocurrency exchange. Ahead of Trump’s swearing-in as the 47th president of the United States, bitcoin reached a staggering new peak at…
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Thailand bets big on casino boom under entertainment banner
In a daring move set to shake up the Land of Smiles, the Government of Thailand is pushing forward with a controversial plan to legalise casinos, sneakily packaged as entertainment complexes. This bold move comes hot on the heels of outspoken former premier Thaksin Shinawatra’s call to legalise online gambling, promising a windfall of tax revenue. Now, the Digital Economy…
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