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 predicts 2.7% growth amid slow export recovery, high debt
Thailand’s economy is experiencing a gradual recovery, with projected growth of between 2.2% and 2.7% this year, according to a recent announcement by a prominent joint business consortium. The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB), which includes key stakeholders from these sectors, has maintained its previous growth forecast. Exports, a crucial component of Thailand’s economic engine, are…
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Thailand aims to be global hub for skilled foreign workers
Thailand is aiming to enhance its global competitiveness by becoming a hub for skilled foreign workers, as part of a long-term strategy to drive and sustain economic growth. Prime Minister Srettha Thavisin is spearheading this initiative by introducing a range of new visa types designed to attract international talent, according to government spokesman Chai Wacharonke. This announcement was made yesterday,…
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Thailand to tax residents’ foreign income irrespective of remittance
The Revenue Department of Thailand will amend a law to tax individuals with foreign income, even if that income is not brought into Thailand. Director-General of the Revenue Department, Kulaya Tantitemit stated that the current tax law mandates individuals residing in Thailand for over 180 days per year to pay taxes on foreign income if it is brought into the…
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Thai govt unveils tax measures to spark tourism surge
The Thai Cabinet today approved a series of tax measures aimed at boosting domestic tourism during the low season, announced the deputy finance minister. These measures will be in effect from May to November and include tax deductions for companies organising conventions and seminars, according to Paopoom Rojanasakul. Further initiatives target increased domestic travel to secondary cities by allowing income…
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Lack of digital literacy in Thai workforce likely to effect economy
The National Economic and Social Development Council (NESDC) raised concerns over the state of literacy and digital skills among the youth and workforce, citing potential detrimental effects on the economy in the coming years. According to NESDC Secretary-General Danucha Pichayanan, recent surveys indicate alarming figures with 64.7% of individuals possessing literacy skills below international standards, while 74.1% exhibit substandard digital…
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La Niña weather phenomenon likely to further fuel food inflation
The Commerce Ministry is closely observing the transition from the El Niño to La Niña weather phenomenon, which could impact Thailand’s inflation, especially concerning food items like fresh vegetables and fruit due to their water sensitivity. Director-General of the Trade Policy and Strategy Office (TPSO), Poonpong Naiyanapakorn stated that data from the Thai Meteorological Department (TMD) shows that El Niño…
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Thai trade event forecasts 60 billion baht in deals
Deputy Prime Minister and Minister of Commerce Phumtham Wechayachai praised the THAIFEX–ANUGA ASIA 2024 event, predicting trade deals worth 60 billion baht over five days. The event, held from May 28 to June 1 at the Impact Exhibition Centre in Mueang Thong Thani, was organised by the Ministry of Commerce’s Department of International Trade Promotion, in collaboration with the Thai…
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Ethereum ETFs approved, crypto prices to surge this year
Cryptocurrencies are having a golden year, with the US Securities and Exchange Commission (SEC) recently approving eight funds set to launch spot Ethereum exchange-traded funds (ETFs). Analysts predict the bull run will persist into the second half of the year, driven by strong interest from institutional investors. The SEC’s approval on May 23 for rule changes allowing ETFs to buy…
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Thailand’s Pride Month to attract 860,000 visitors
The Thai government is preparing to champion gender equality, anticipating that Pride Month activities will provide a significant economic boost. Deputy government spokeswoman Kenika Ounjit highlighted that Prime Minister Srettha Thavisin’s administration had announced this initiative as he assumed office. “The government aims to foster a society that embraces diversity and equality across age, gender, religion, and social status, positioning…
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Thailand doubles visa-free stay for 93 nations to boost tourism
Thailand has extended the visa-free exemption period for visitors from 30 to 60 days .This is great news for tourists and business travelers alike, as it will allow them to stay in Thailand for longer periods of time. The visa exemption applies to nationals of 93 countries, including the United States, Canada, the United Kingdom, Australia, and Japan. Visitors from…
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