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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Starting a new life abroad is exciting—new culture, new lifestyle, and new chances to grow. But living far from home also means taking steps to protect your health in unfamiliar surroundings. Without the right coverage, even small health issues can...
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Koh Samui booms as over 200,000 tourists visit the popular island in January
The picturesque island of Koh Samui in Surat Thani province, Thailand, has seen a remarkable turnaround to its economy in the first month of 2023 with over 200,000 tourists visiting in January alone. After a year of uncertainty due to the Covid-19 pandemic, the arrival of over 200,000 tourists has been a welcome sight for the island’s local economy. The…
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Something fishy about Thailand’s rising prices?
The Internal Trade Department stopped greedy manufacturers from increasing the prices of baby milk formula and canned fish products, amid fears that Thailand’s rising prices are more about reduced profits for shareholders than increased production costs. Government Spokesperson Rachada Dhnadirek said yesterday that the department told manufacturers that both are controlled products – though they must have already known this…
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Bank of Thailand increases interest rates, again!
The Monetary Policy Committee (MPC) of the Bank of Thailand insists that it had to hike its policy interest rate by 0.25% to 1.50% yesterday for the fourth consecutive time to curb high inflation. MPC Committee Secretary Piti Disyatat reported that the committee was unanimous in its decision. “Under a gradual policy normalisation, rate hikes could take place for a…
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Thai Cabinet approves electricity bill discounts over next four months
The Thai Cabinet has approved electricity bill discounts over the next four months for more than 19 million households. According to the Bangkok Post, the discounts will span from the remainder of this month (January) to April, 2023. Deputy Secretary-General to the prime minister, Anucha Burapahaisri, says the discounts have been approved to help with the high power tariff. Households…
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Thailand still needs thousands more tourism workers
Thailand still needs thousands more tourism workers than it already has. The kingdom’s Labour Ministry recently surveyed the labour demands of 32,359 tourism operators in 60 provinces. The ministry found that out of all the operators, 1,817 businesses needed a total of 9,763 more workers. Employers need receptionists, porters, waiters, cleaners and housemaids, chefs, kitchen workers, cashiers, and accountants. The…
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USD Coin, Shiba Inu, Big Eyes Coin: What you must consider before investing in Crypto in 2023
After reaching a record high in late 2021, cryptocurrency markets had a significant decline in 2022. Amid the FTX collapse, continued bankruptcies, and regulatory worries, Bitcoin fell from a record high of $69,044.77 in November 2021 to $16,400 in November 2022, representing a fall of nearly 76%. Is the present rise expected to continue in light of these persistent worries,…
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Not much expected from Thailand’s gold sales this Chinese New Year
Thailand’s Gold Traders Association (GTA) doesn’t expect much from this year’s gold sale during Chinese New Year. The new year usually draws a swarm of customers looking to buy gifts for their loved ones. But this year, Chinese-Thai buyers will prefer to buy smaller pieces weighing one or two salung, rather than one-baht pieces, according to GTA vice-president Pichaya Phisuthikul.…
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China top source of Thailand investment in 2022
Thailand’s main source of investment in 2022 was China, for the first time in three years. The world’s second-largest economy poured US$2.3 billion (75 billion baht) into electronics, automotive and data centres. The figures, of course, do not include the tide of Chinese investment in grey areas such as drugs and gambling. China last held the No.1 position in 2019,…
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Community craft centre exploiting indigenous Karen weavers
Members of the Bang Kloi Karen community employed as weavers in a community craft centre have accused the centre of exploiting indigenous workers. The Karen workers claim they suffer poor working conditions and are paid less than the minimum wage. Activist Anchalee Ismanyee said weavers are paid much less than the official minimum wage in Phetchaburi province of 335 baht…
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Makro expects big investment funds to move in
Thailand’s leading wholesale and hypermarket operator Siam Makro Plc, is waiting for big investment funds to move in as company stock heads for a one-year high. Shares are now mature enough to attract the attention of global fund managers. Makro wants to be the biggest operation of its kind in Asia. In many parts of Thailand, Makro cash and carry…
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Thailand’s real estate sector did not fully recover in 2022
Thailand’s real estate sector did not fully recover in 2022 due mainly to the economic downturn along with higher inflation and interest rates. The war in Ukraine has not helped. But while the recovery was not all it could have been, the outlook for 2023 is more hopeful. Thailand’s Consumer Confidence Index stands at 47.9, the highest in 20 years,…
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The rise of Thailand’s biggest company – Delta Electronics
Delta Electronics is officially Thailand’s biggest company, its rise sailing ahead of the likes of Airports of Thailand and PTT, with shares at all-time highs. Delta Electronics Plc (DELTA) is one of Thailand’s leading electronics component makers, but few have heard of the new grey rhino in the room. DELTA has gone from strength to strength since its founding in…
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Electric vehicles to hit the accelerator this year, says FTI
The Federation of Thai Industries (FTI) predicts a bold future for Thailand’s electric vehicle (EV) industry, unlike the International Monetary Fund which believes the kingdom is heading for a recession. The FTI reckons the EV industry will hit the accelerator this year and sell between 25,000, to 35,000 cars, reports Bangkok Post. But, to achieve that target the EV industry…
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