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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Sponsored 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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The social media giants in battle with ‘old’ media and world governments | VIDEO
https://youtu.be/HKKIuWHw_t8 “The rules signal greater willingness by countries around the world to rein in big tech firms such as Google, Facebook and Twitter that the governments fear have become too powerful with little accountability.” India has issued strict new rules for Facebook, Twitter and other social media platforms just weeks after the Indian government attempted to pressure Twitter to take…
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Long Buddhist holiday to see over 40 percent reduction in domestic tourism
The long Buddhist festival holiday, which starts today, is set to see over a 40% reduction in domestic tourism. The Tourism and Transport Authority of Thailand has made the estimation which tallies around 1.09 million domestic trips, a number that is down 44% from last year’s Makha Bucha Day. The 2nd wave of the Covid pandemic this year has made…
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Thailand’s passenger car sales drop by over 44% year-on-year
Thailand’s domestic car sales dropped by over 21% last month, with passenger car sales plummeting by over 44% year-on-year. The Bangkok Post reports that the resurgence of the Covid-19 virus late last year has affected consumer confidence and buying power. The sale of commercial vehicles is also down by 5.4% year-on-year. Surasak Suthongwan from Toyota Motor Thailand, says people are…
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Government’s tourism co-payment scheme riddled with alleged fraud
The government’s tourism co-payment scheme has been allegedly riddled with fraud after almost 1,000 business operators have been reported for taking advantage or outright cheating the system. The Tourism Authority of Thailand has lodged a complaint with the Crime Suppression Division involving businesses cheating the We Travel Together or Rao Tiew Duay Kan, campaign. 448 hotels and 486 vendors nationwide,…
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Government think tank says vaccine rollout vital to tourism recovery
The National Economic and Social Development Council says the recovery of Thailand’s tourism sector is heavily dependent on the rollout of Covid-19 vaccines and the establishment of herd immunity in the Kingdom. The Bangkok Post reports that Danucha Pichayanan from the NESDC says the government needs to come up with a better plan for the rollout, including prioritising workers in…
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Airlines, hotels say 2021 likely to be even worse than last year
Thai airlines and hotels fear that the tourism crisis in 2021 is set to dwarf last year’s in terms of its impact, as they appeal for government aid. The Bangkok Post reports that Asia Aviation, the largest shareholder in Thai AirAsia, has warned that when international tourism eventually does resume, there may not be enough suppliers to meet demand as…
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Economy expert says Phuket’s income per capita could soon fall below poverty line
A Phuket tourism economy expert says Phuket’s income per capita could soon fall below the provincial poverty line if something isn’t done to increase revenue. Assistant Professor Chayanon Phucharoen, Associate Dean for Research and Graduate Studies, Faculty of Hospitality and Tourism, Prince of Songkla University Phuket campus, says the news is based off a report by the university. In it, the…
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Krabi mayor hopeful tourism crisis will be over soon
As is the case in many popular tourist spots in Thailand, the economy in the southern province of Krabi has been decimated due to Covid-19. Nation Thailand reports that tourist numbers in Krabi have fallen sharply, from a yearly average of 6 million to just 1.5 million last year. Revenue from tourism has plummeted from around 120 billion baht to…
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Legalisation of hemp cultivation is expected to boost stocks
Thailand’s recent legalisation of hemp cultivation is expected to boost stock prices in related sectors. Market analysts at KTBST Securities Research say plantation and refinery businesses are likely to be the first to to receive licenses to grow hemp or produce extracts, and those businesses should expect an uptick in stock prices. Market analysts add that businesses that plan to…
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