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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Thailand’s healthcare system is well-regarded across Southeast Asia, with options ranging from public hospitals to world-class private facilities. But when it comes to foreign residents or tourists, healthcare access isn’t as straightforward. So, do foreigners get free healthcare in Thailand?...
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Thailand welfare card benefits updated for October
Thailand’s Comptroller General’s Department has updated the welfare card benefits for October. Eligible individuals will receive various allowances and benefits starting this month, including purchasing allowances, transport subsidies, and additional disability payments. The welfare card benefits for October began on Tuesday, October 1. Teeraporn Phasuk, Deputy Director-General of the Comptroller General’s Department and spokesperson for the department, stated that those…
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Penny-wise, pound foolish: Thailand’s budget delay leaves fiscal year in arrears
The Government of Thailand’s delayed budget approval led to significant underinvestment in the previous fiscal year, according to the Comptroller General’s Department (CGD). The state budget for the fiscal year is divided into a fixed fund and an investment fund. For fiscal 2024, which ended on September 30, the fixed fund amounted to 2.8 trillion baht (US$84 billion), covering expenses…
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Agriculture minister vows to expedite debt relief for farmers
Ekaphap Phonsue, spokesperson for the Ministry of Agriculture and Cooperatives, revealed that Saikrai Pimbueng, a committee member and secretary of the Farmers’ Rehabilitation and Development Fund (FRDF), recently met with Narumon Pinyosinwat, the Minister of Agriculture. The meeting aimed to discuss policies and actions concerning Thai farmers’ issues. Saikrai detailed that since 2019, the previous government had considered restructuring farmers’…
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AIS launches 5G movie package for youths at 299 baht monthly
AIS ZEED 5G launched the AIS ZEED 5G Movie Lover package, catering to youngsters who love watching movies and entertainment content both in cinemas and online. This package offers one free cinema ticket per month and a second ticket for just 50 baht at Major Cineplex theatres nationwide. Additionally, subscribers receive 10 gigabytes of high-speed Internet for streaming premium content…
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Thai Airways to issue new shares worth 42 billion baht
Thai Airways International Plc (THAI) is set to issue new shares valued at a minimum of 42 billion baht by December, marking a significant move towards concluding its court-monitored debt restructuring and resuming trading on the Stock Exchange of Thailand (SET). The national airline plans to offer 6.81 billion new shares to creditors as part of a debt-to-equity swap, as…
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Thailand’s bold plan to regulate sex work sparks heated debate
Thailand Prime Minister Paetongtarn Shinawatra’s government is stirring up controversy with a proposal to develop an entertainment complex aimed at formalising underground businesses—sex work included. The plan is designed to bring these industries into the formal economy, making them taxable, and, in the long term, funding welfare programmes in education, public health, and infrastructure. But the proposal has ignited a…
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Lettuce pray: Market shoppers face steep prices ahead of Pattaya Vegetarian Festival
The Rai Vanasin Market in East Pattaya was buzzing with anticipation yesterday as eager shoppers scrambled to stock up on fresh produce for the upcoming Pattaya Vegetarian Festival, which kicks off today, October 2 and runs until October 12. However, as the crowds grew, so did the prices – with many vegetables seeing eye-watering surges just days before the festival…
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Thailand to increase minimum wage to 400 baht by year-end
Thailand’s Labour Ministry has assured the public that a minimum wage increase to 400 baht will be implemented nationwide by the end of the year, as stated by Phiphat Ratchakitprakarn, the Labour Minister. The tripartite wage committee is currently awaiting the official appointment of two new members: the Permanent Secretary of the Ministry of Labour and the Director-General of the…
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PTT station to lower petrol prices, diesel remains unchanged
PTT Station will lower petrol prices today, while diesel prices remain unchanged. PTT Station announced a reduction in retail petrol prices by 30 satang per litre across all types of gasoline yesterday, September 30. This change will take effect from 5am today, October 1. Petrol prices will be adjusted as follows: gasoline will be 43.14 baht per litre, Gasohol 95…
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Finance ministry sees record revenue of 14.4 billion baht
The Ministry of Finance announced that the Treasury Department has achieved record-breaking revenue collection for the fiscal year 2024, amounting to 14.4 billion baht. This represents a 57.9% increase from the previous year and exceeds projections by 25.4%, marking the highest revenue since the department’s establishment on September 30, 1924. The Deputy Minister of Finance, Paophum Rojanasakul attributed this remarkable…
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Thailand’s local businesses get a global boost: It’s time to trade up
Strengthening Thailand’s local businesses to compete on the global stage could be a game-changing strategy for revitalising the national economy, according to Bank of Thailand Governor Sethaput Suthiwartnarueput. Sethaput is advocating for the implementation of “globally competitive localism,” a concept that leverages the strengths of local entrepreneurs, such as cultural assets, to create value-added products and services. This, he believes,…
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Reel deal: Thai man is squids in with government digital wallet
Among the many recipients of the government’s digital wallet handout is a 66 year old Thai man who transformed his share into a thriving small business selling grilled squid. State welfare cardholder Suwit Inrat, also known as Uncle Ood, received the handout money via his Krungthai Bank account around 2am today, September 27, prompting Suwit to spring into action. With…
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Gen Z goes wild for Thailand’s ‘Mutelu’ faith economy
A new survey by Zanroo, a social media data expert, revealed that young Thais are leading the charge in an occult frenzy, racking up billions of engagements online. Zanroo’s study found that Gen Z, those aged 12 to 27, show the highest interest in Mutelu – a term derived from the Indonesian horror film Mutelu: Occult War. The word now…
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Gypsy cash dash: Phuket locals swarm ATMs for 10k baht handout
Hundreds of sea gypsies in Phuket flocked to ATMs at Laem Tukkae, Koh Sirey, Ratsada subdistrict on Wednesday, September 25, as part of the Thai government’s 10,000 baht handout scheme for vulnerable citizens. The scheme, aimed at state welfare cardholders and disabled individuals, is part of a broader economic stimulus programme. A national report noted that the sea gypsies, still…
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Mortgage growth in Thailand hits 23-year low at 1.2%
Kasikorn Research Center (K-Research) projects a mere 1.2% growth in mortgages within the commercial banking sector this year, marking the lowest expansion rate in 23 years. This subdued growth is largely due to the weakened purchasing power of potential homebuyers. According to Kanjana Chockpisansin, head of banking and financial sector research at K-Research, the second quarter of 2024 saw commercial…
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NHRC urges Thailand to rethink Southern Land Bridge project
The National Human Rights Commission (NHRC) is urging Prime Minister Paetongtarn Shinawatra to reconsider the Southern Land Bridge megaproject, highlighting concerns about its environmental impact and implications for local communities. The NHRC supports its call with findings from various studies conducted by state agencies. Council member Sayamol Kaiyoorawongs stated that the prime minister should direct the Office of Transport and…
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Thailand aims to eradicate poverty in two years
Thailand aims to eradicate poverty and build a prosperous economy within the remainder of its term, an adviser to PM Paetongtarn Shinawatra revealed. With just over two years left in office, the 38 year old prime minister is determined to ensure that Thais can rise above poverty, stated Surapong Suebwonglee, deputy chairman of the five-member advisory panel appointed by PM Paetongtarn.…
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Bangkok delists more than 10,000 inactive companies
The Department of Business Development (DBD), under the Ministry of Commerce, announced the removal of 11,515 companies from the Bangkok business registry. The announcement, dated September 2 and 16, cited two primary reasons for this action. The first reason involves 8,420 companies that have not submitted their financial statements for three consecutive years, leading to the assumption that these companies…
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Thailand digital wallet handout falls short: Woman gets only 4,000
A Thai woman attempting to withdraw 10,000 baht for her father, as part of the Thai government’s digital wallet handout for vulnerable groups and people with disabilities, received only 4,000 baht, sparking suspicions of debt deductions by the bank. In Uthai Thani province, the government commenced disbursing 10,000 baht to vulnerable groups and those with disabilities. From early morning, recipients…
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Hong Kong back in top 3 global financial powerhouses
Hong Kong is back with a bang, reclaiming its position as the world’s third-leading financial centre, overtaking Singapore for the first time in over two years. According to a report published yesterday, September 24, by the Global Financial Centres Index (GFCI), Hong Kong’s strategic moves have paid off as it storms ahead in the latest rankings. In the 36th edition…
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Thailand’s universal healthcare won’t ‘break the bank’ says minister
Thailand’s Ministry of Public Health remains confident that the universal healthcare programme will not face financial difficulties, according to Health Minister Somsak Thepsutin. The government has allocated a central budget of 5.9 billion baht for the scheme for the fiscal year ending September 30. Somsak provided this update following a National Health Security Board meeting, where participants discussed plans for…
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I’m hiring it: McDonald’s Thailand adds Texas Chicken crew to menu
McDonald’s Thailand is welcoming employees from Texas Chicken, which is set to close at the end of this month. Yesterday, September 23, McDonald’s Thailand’s Recruitment Facebook page posted a message specifically inviting Texas Chicken employees to apply for positions at McDonald’s, which operates over 230 branches across the country. “To our friends at Texas Chicken, we are saddened to hear…
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Commerce Ministry says pork prices are ‘bringing home the bacon’
The Thai Ministry of Commerce has addressed concerns raised by Commerce Minister Pichai Naripthaphan regarding the high cost of pork in Thailand compared to imported pork. This issue has led to significant expenses for consumers. Consequently, the ministry has instructed the Internal Trade Department to collaborate with relevant agencies to find solutions that balance and make the entire pricing chain fairer.…
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Thailand promotes products with Piccadilly Circus campaign
Thailand’s Ministry of Commerce has launched the Think Thailand Next Level branding campaign to promote Thai products and services. The event, led by Pichai Naripthaphan, took place at Piccadilly Circus in London, aiming to elevate Thailand’s image globally. The campaign’s launch featured a gigantic digital billboard at Piccadilly Circus, a prominent public space and a central hub in London. This…
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Baht-boom: Thailand’s currency surge leaves tourism, exports short
Thailand’s baht is rocketing towards its biggest quarterly rise since the Asian financial crisis, a development that has key tourism and export industries clutching their pearls. Since the end of June, the baht has surged 10% against the dollar, its most significant gain since early 1998. This sudden leap has prompted frantic appeals from the tourism, hotel sectors, and business…
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Shoppers rush post-flood markets in Chiang Rai for bargains
Shoppers flocked to the Sai Lom Joi Market and Doi Wao Market in Chiang Rai‘s Mae Sai district to purchase discounted goods following the recent floodwaters receding. The bustling atmosphere saw a surge of visitors eager to take advantage of the low prices on offer. This annual post-flood shopping event has become a tradition for these border trade markets. Floodwaters…
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Southern Industrial Council opposes 400 baht minimum wage rise
The Southern Industrial Council opposes the proposed 400 baht minimum wage increase, advocating for region-specific adjustments instead. Businesses face high costs for electricity and oil, alongside competition from Chinese investments. Adisorn Tanaengchuan, President of the Southern Industrial Council and executive member of the Federation of Thai Industries (FTI), expressed concerns regarding the Labour Wage Committee’s meeting today to consider the…
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Thai household debt hits 13.6 trillion baht as bad loans rise
Thai household debt has surged to alarming levels, reaching 13.6 trillion baht, with non-performing loans (NPLs) climbing to 1.2 trillion baht. The National Credit Bureau reports a consistent rise in bad debts across housing, automotive, and credit card sectors. Data from the end of July indicates that household debt in Thailand reached a staggering 13.6 trillion baht. This figure is…
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Bangkok street vendors must be poor enough to operate: BMA
In a move that’s bound to shake up Bangkok’s bustling street food scene, new City Hall regulations will allow only “poor Thais” to operate as street vendors. The bold rules, signed by Bangkok Governor Chadchart Sittipunt, have sparked controversy with their stringent requirements, including a ban on migrant workers. Once published in the Royal Gazette, the new rules will go…
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UK signs pivotal trade and investment deal with Thailand
The United Kingdom government has finalised a significant trade and investment agreement with Thailand, marking the first such deal since the Labour government assumed office in July. Commerce Minister Pichai Naripthaphan and UK Trade Minister Douglas Alexander signed the enhanced trade partnership agreement in Bangkok yesterday, September 18. The deal seeks to eliminate specific trade barriers, focusing on sectors such as…
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