Economy News
Thailand economy news, business updates, financial markets, and government policies—stay informed on economic developments shaping the nation. Get the latest from The Thaiger, your trusted source for Thailand economic news.
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Study shows most Thai people live hand to mouth
PHOTO: eTamping Nearly half of Thailand’s citizens aged 18-65 are spending everything they earn on monthly bills and living expenses, leaving them with nothing to put aside as savings. A study carried out by GoBear, an international financial comparison site, reveals that the highest percentage of people living paycheck to paycheck (53%) are those in the 36-45 age group. 51% of…
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Twin TAT campaigns will boost domestic travel
In November the Tourism Authority of Thailand plans two campaigns – “Visit Thailand with 100 Baht” and “Shocking Price Weekday Travel”, – aimed to generate 400 million baht in local tourism revenue before the end of the year. The TAT’s executive director of product promotion said “Shocking Price Weekday Travel” would encourage upper and middle-class Thai tourists to travel more…
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Thailand resume free trade talks with EU, reducing reliance on China
The European Union has restarted talks with Thailand about a potential free trade agreement. The talks started just days after unfreezing a deadlock put in place by the previous military junta. The resumption of talks comes as Thailand seeks to diversify its economy and reduce reliance on China, which accounted for 14% of the its total foreign direct investment in 2018.…
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TAT says ‘all go’ for tourism discount campaign
PHOTO: Thailand Shopping and Dining Paradise The Tourism Authority of Thailand’s governor says that the TAT will introduce two domestic tourism promotional measures – a 100 baht nationwide tourism campaign, and “shocking-price weekday” discounts. The 100 baht campaign will offer some 40,000 products and services at only 100 baht each. Registration is required and will be open on November 11-12…
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“Eat, Shop, Spend” drive reaches registration target
Ten million people signed up for the first Eat, Shop, Spend stimulus campaign since its launch on September 23. The organisers have expressed thanks to all who have participated. The first phase of the campaign aimed to boost domestic spending by offering 10 million people a 1,000 baht voucher via the G-Wallet mobile application to spend in specific shops, outside…
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Thailand’s growth forecasts for the rest of 2019 slashed again
Following their most recent meeting, the Joint Standing Committee on Commerce, Industry and Banking has announced Thailand’s economic growth this year has been revised downward to between 2.7 – 3.0% from the previous projection of 2.9 – 3.3%. It has also revised down its prediction of this year’s exports to between minus 2 – 0%. The committee says the revised…
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“Too good for its own good” – The Thai economy
Bloomberg has written an opinion piece about the robust Thai economy, sharing its fears along with some pats on the back. “Thailand really should let its hair down. The currency is strong and the current-account surplus is big versus the neighborhood, while there’s a lot of scope for fiscal expansion. The Bank of Thailand has been grudging in cutting interest rates, in contrast to the…
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Asian markets stumble over trade concerns, Brexit sentiment sinks pound
Asian markets fell after hefty losses in New York yesterday, owing to growing China-US tensions in the next round of trade talks, while the British pound continues to be beaten down by fears the UK is on the verge of crashing out of the EU. The downbeat mood comes as investors fret over signs the global economy is slowing down.…
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Focus back on US-China trade talks – Asian markets rise
“A large percentage of the market thinks China may roll the dice and take advantage of what they think is Trump’s weakened political state.” Asian markets rise today as investors resume their focus on the next round of China-US trade talks this week. But hopes for success are being tempered by mixed messages from both sides of the table. There has been…
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Chim-Shop-Chai stimulus scheme set for a second roll-out
Thai PM Prayut Chan-o-cha is hinting the government may launch a second phase of the “Chim-Shop-Chai” (Eat-Shop-Spend) scheme. He says he’s waiting for officials to complete an assessment of the first phase and its ability to boost the sluggish economy. Chim-Shop-Chai was a raging success. Up to one million Thais were able to register each 24 hours to apply for…
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Round two of the “Eat, Shop, Spend” tourism stimulus
Round one of “Eat, Shop, Spend” (Chim, Shop, Chai) was a resounding success with the allotment for registrations completely subscribed on the days of registration. It was a 1,000 baht ‘gift’ to encourage Thais to travel and spend outside their home provinces. Now the government are rolling out the second round of the stimulus packages to keep the local tourism…
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Thais clamour for the “Chim, Shop, Chai” 1000 baht give-away program
PHOTO: buriramguru.com The “Chim, Shop, Chai” (Eat, Shop, Spend) program has been a resounding success, and it’s still got a another five days or so to go. Thai citizens can apply for the 1000 baht ‘gift’ from the government and spend the money at selected shops anywhere outside their home province. The government only accepts one million applications each day so,…
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Asian Development Bank drops growth forecast for Thailand
“The bank forecasts a slightly higher growth rate at 3.2% next year, due largely to infrastructure investment in the Eastern Economic Corridor.” The Asian Development Bank is lowering its growth forecast for Thailand’s economy from 3.9% to 3% but is optimistic that conditions will improve next year. “The bank forecasts a slightly higher growth rate at 3.2% next year, due…
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Chim-Shop-Chai – more than a million already register for the latest Thai stimulus package
Interest in the government’s latest stimulus package has been massive with online portals being battered by people wanting to know more about how they can get their hands on the 1000 baht give-away from the Thai government. More than a million people have already registered to join the government’s Chim-Shop-Chai (Taste-Shop-Spend) program, where they will receive a 1000 baht to…
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Finance Ministry launches 100 billion stimulus package to kickstart sagging economy
PHOTO: thailandshoppingdining.com The Government is kicking off a new stimulus package valued at 100 billion baht to “stimulate the grassroots economy”. Prasong Poontaneat, permanent secretary of the Finance Ministry reported that the government is preparing a brand-new stimulus package. “The Finance Ministry and related agencies will spend more than 100 billion baht on approximately 30 million low-income households nationwide.” The…
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Thailand’s August exports fall further than expected
Some more lumpy economic news for Thialand as the focus is on the monthly customs clearances to provide a compass for the country’s economy. Customs-cleared exports dropped in August 4% compared to the same month a year earlier. Exports unexpectedly rose in July, according to the commerce ministry today. The decline in August has shown itself to be greater than…
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Strong baht poses a tough challenge for Thailand
PHOTO: Dreamstime.com Thailand’s currency is currently giving it a major economic headache, according to a Bloomberg report shared by ThaiVisa this morning. The Thai baht has been the best performer globally against the US dollar for over 5 years now, but that strength has caused growth estimates to be cut for an economy relying on trade and tourism. The ongoing…
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What goes up must come down – the battle of the baht
Newton’s law looms over the Thai baht. Meanwhile, the Thai baht continues to be the best performing currency in Asia. The Thai currency is riding a 6-year high against the USD and, this year, has surged 8% against the US currency. But the strong baht is causing knock-on effects to the rest of the Thai economy, battering exports and stifling tourist…
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Thailand’s gold and jewellery exports rise nearly 30%
The export value of gems and jewellery grew by 29.3% in the past seven months despite unfavourable trading terms with the rising baht. The Gem and Jewellery Institute of Thailand director, Duangkamol Jiambutr, puts the value of exports from January to July at US$9 billion or approx. 280 billion baht, a 29.3% increase year on year. Gold exports led the climb,…
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Asian stock markets mostly rise on positive news
“China announced it would resume trade talks with the US in Washington next month.” Most Asian equities and currencies rallied today, building on the previous day’s advance as investors were cheered by a number of positive developments on trade, Hong Kong and Europe. Markets were already on an upward trajectory after the leader of Hong Kong withdrew a controversial extradition…
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Central Bank of Thailand voices concern over impact of economic slowdown
PHOTO: Thai PBS World The Bank of Thailand has expressed concern about the country’s rising household debt as a result of the sluggish economy. The bank’s assistant governor Titanun Mallikamas was speaking on Monday, in response to the National Economic and Social Development Council raising the matter at a press conference. “We are closely monitoring household debts, as Thai families…
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