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 Do foreigners get free healthcare in Thailand?
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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Thai commerce chairman welcomes end of PCR test requirement
Following the announcement for major changes to Thailand Pass, a commerce leader is giving the government a great big thank you. Yesterday, the chairman of the Thai Chamber of Commerce, Sanan Angubolkul, thanked the government for getting rid of mandatory RT-PCR tests for visitors on arrival, starting May 1. “The private sector believes the decision will help trade, investment, services…
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Former Phuket prison to transform into spooky tourist attraction
An old Phuket prison no longer housing inmates is now set to become a spooky tourist attraction, providing visitors with a “Twilight Zone” experience. Phuket Prison was built in Phuket Town about 120 years ago, and Phuket officials now plan to turn it into a ‘live museum’ to teach both tourists and locals about its history. In addition to the…
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Southern Thailand province gets a wave of income from Full Moon Party, Songkran
Thailand’s southern province of Surat Thani saw a wave of tourism income generated during the Songkran holiday. Many tourists came to the province for the famous Full Moon Party on Kho Pha Ngan, among other tourist attractions. Tourism officials said the province gathered up a total of 895.7 million baht from 83,000 visitors between April 13-17. The income is up…
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Thailand’s diesel price expected to spike starting May 1
Even though Thailand’s energy minister vowed last month to keep the 30 baht per litre cap on diesel prices until the end of May, officials now expect the diesel price to start pushing 35-36 baht per litre by the start of May. The director of the Energy Policy and Planning Office says all agencies have been instructed to plan how…
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Will Milli’s mango stunt help Thailand’s farmers?
After budding Thai rap star “Milli” ate a bowl of sticky rice and mango onstage in front of a crowd of hundreds of thousands at California’s Coachella festival, Thailand’s mango farmers might rake in some dough. Despite being the largest exporter of mangoes in the world, Thailand has had problems with mango shipment due to Covid-19. Sayan Bunying, president of…
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Thai durian shipment to China detected with Covid 19 on packaging
After signs of the coronavirus were detected on the surfaces of boxes of Thai durian, the delivery to China was blocked from entering for 3 days. Companies in Thailand’s fruit export industry have been advised to follow strict Covid-19 guidelines. A shipment of the famous King of Fruits, aka. Durian, from Thailand was reported to be infected at China’s Mohan…
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Thai government to control inflation prices for consumer products
As the Thai government attempts to control inflation, the PM Prayut Chan-o-cha says that there must be no shortages of consumer products or outages, and the prices must not be too expensive. The world wide inflation problems have been created by government’s artificially over-heating economies with quantitative easing rising energy and commodity prices and exacerbated by the ongoing Russia-Ukraine war.…
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South Korea is the most expensive country to raise kids
South Korea is the most expensive country in the world to raise children from birth to age 18, according to research from Jefferies Financial Group. On the list of 14 countries Jefferies researched, South Korea is followed by China, then Italy. Jefferies’s analysts reported some differences between Asian and Western cultures that might be a factor in South Korea and…
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Songkran: Academics predict 10 year low in festival spending this year
Thailand academics predict the public’s spending during next week’s Songkran holiday will be the lowest in 10 years. An associate professor at the University of the Thai Chamber of Commerce said he expects people to spend around 106 billion baht altogether across Thailand this year. This will be 5.4% less than last year, when public spending was recorded at about…
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Thailand inflation jumps 5.7 percent in March, hits consumers’ wallets hard
In March, Thailand’s inflation saw its highest monthly jump in 13 years, rising to 5.73% year on year. That’s according to the Commerce Ministry’s Office of Trade Policy and Strategy, which pins the blame on the war in Ukraine, which has pushed up fuel, food and electricity prices. This unexpected turn of events has caused the office to adjust its…
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Phuket introduces new seafood and gastronomy “Tastival” festival
Following Phuket’s Roi Rim Lay seafood festival last weekend, the island’s officials have come up with another seafood and gastronomy festival for the first time yesterday. The festival is called “Phuket Tastival Seafood and Gastronomy: Roi-Yok-Lo”. It will run until Monday, April 4. Phuket Deputy Governor Anupap and several other officials attended the opening at Saphan Hin, the huge public…
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Thailand’s finance ministry closes 2 insurance firms due to Covid-19 claims
After an overwhelming number of Covid-19 claims caused 2 of Thailand’s insurance providers to owe billions of baht in compensation, Thailand’s finance minister has revoked the providers’ business licenses. The decision was made effective yesterday. One provider, Southeast Insurance, owes 13 billion baht in compensation, while the other, Thai Insurance, owes 4.6 billion baht. The Secretary-General of the Office of…
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Expected computer shortage in Thailand, world
IT workers expect a shortage of computers for sale in Thailand to start between May and June due to Covid-19 impacting producers in China. The chief of sales and marketing at Advice, an IT distributor, told the Bangkok Post that if China’s lockdown continues, as well as the Russia-Ukraine war, computer prices will likely rise. The chief of Advice said…
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Diesel no longer for sale across Sri Lanka, massive blackout
Diesel was unavailable for sale at stations across Sri Lanka today. Petrol is on sale but in short supply, forcing drivers to abandon their cars in long queues. Private business owners say they have already run out of fuel, and even skeleton services may not be possible after Friday. Now, the country is grappling with a 13-hour power blackout, its…
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Finance Ministry expected to adjust 2022 economic forecast from next month
The Finance Ministry will adjust the 2022 forecast for Thailand’s economic growth to focus on the rise in both inflation and energy prices, from next month. According to an unnamed Bangkok Post source, the ministry is concerned about the impact Russia’s invasion of Ukraine will have on overseas arrivals this year. At the start of the year, the ministry had…
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Upcoming seafood festival at Nai Yang Beach this Friday and Saturday, Phuket
Phuket’s Roi Rim Lay seafood festival will be hosted at Nai Yang Beach this coming weekend on Friday and Saturday. The festival will start at 4pm on Friday, and end at 11pm on Saturday, March 25-26. The festival will host over 100 food stands, live ‘Luk Thung’ Thai folk music, and cooking competitions with chili paste and grilled seafood. The…
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Shenzhen now has more billionaires than New York, China has most in world
Shenzhen in China now has more billionaires than New York City. Meanwhile, China has 1,133 listed “billionaires”, more billionaires (measured in USD) than any other country in the world. These 1,133 Shenzhen billionaires make up 34% of the world’s 3,381 billionaires. This is despite the fact China lost 160 of its billionaires in a government crackdown last year. The crackdown…
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Thailand’s electricity tariff expected to surge higher than ever
After Thailand’s Energy Regulation Commission announced yesterday that the electricity price could rise to four baht per kilowatt hour, the ERC now says it will rise to a record high above that. The ERC says this will be the first time the price has surged this high. The fuel tariff is expected to be 0.24 baht per unit between May…
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Thailand’s power will be more expensive in May
From May until August, Thailand’s electricity price will rise to four baht per kilowatt hour, going up by 0.23-1.3 baht per unit. The country’s Energy Regulatory Commission is raising fuel tariffs following Russia’s invasion of the Ukraine. An ERC spokesman said another reason for the price surge is the declining supply of natural gas from the Gulf of Thailand. Russia’s…
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1,000 Thais register to apply for jobs in Saudi Arabia
Thai and Saudi officials say labour relations between their countries are strengthening following renewed relations. Thailand’s labour minister said over 1,000 people have registered online with the Department of Employment to apply for jobs in Saudi Arabia. He claimed the final remaining step is signing a bilateral labour agreement, which is expected to occur soon. The agreement will allow Thailand…
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Thailand’s price cap on diesel will last through May
In the midst of skyrocketing fuel prices around the world, Thailand’s diesel price cap at 30 baht per litre will last until the end of May. After that, a loan of 40 billion baht that supports the subsidy allowing the cap is expected to run out. Thailand’s deputy prime minister, who is also the energy minister, said the country must…
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Federation of Thai Industries wants gov to scrap Test & Go, stop fuel price crisis
The Federation of Thai Industries has called on Thailand’s government to scrap the Test & Go scheme, and stop the ongoing fuel price crisis. On Thursday, the president of the federation suggested easing Test & Go to support tourism and a recovery for the Thai economy. The FTI suggested that Thailand only require fully vaccinated travellers to show proof of…
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As Thailand’s fuel prices spike, stockpile raised
As Thailand’s fuel prices continue to spike, officials have announced that the government will extend fuel stockpiling. Thailand’s Deputy PM and Energy Minister said in a meeting yesterday that the government has instructed oil companies to extend stockpiling of oil reserves from 60 to 70 days to help defuse a pending crisis. He said Thailand will keep its policy of…
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Thai noodle price crisis averted
After some local media outlets reported that noodle prices will rise soon, Thai trade officials claim this isn’t true. The director-general of Thailand’s International Trade Department told the Bangkok Post the department has not yet approved any manufacturers raising their prices. The director-general said the department regularly speaks to instant noodle manufacturers. He said manufacturers who want to raise prices…
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Phuket’s tuna industry falling behind, Phuket VP calls to train fishermen
In a meeting yesterday, Phuket’s Vice Governor Pichet said the provincial government wants fishermen to develop stronger skills with tuna and tuna fishing practices. He said strict fishing laws have already lowered the number of tuna caught in the province. Another issue is that Thailand doesn’t have proper tuna fishing boats. VP Pichet said amendments to current laws on which…
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Thais can now work in Saudi Arabia
As of yesterday, Thai workers can now work in Saudi Arabia, and will be protected by Saudi laws. Thailand’s cabinet approved two draft agreements about this yesterday, which will last for five years. They will be extended for another five years unless one or both parties decide against it. Both countries will cooperate to make sure recruitment and employment is…
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Thailand’s businesses appeal to government to lower labour import cost
Thai businesses say they need more workers, and have appealed to the Labour Ministry to reduce costs of importing migrant workers from surrounding countries like Myanmar and Cambodia. Labour ministers said business operators are concerned that if not enough workers are brought in on time, their businesses won’t be able to meet orders and will have to pay fines. PM…
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Expats want to leave Hong Kong- but that’s an expensive thing to do
After two years of Covid-19 restrictions and political crackdowns in Hong Kong, expats there want to leave. But doing that costs a lot of money in shipping, and pet relocations. It’s not just finances that keep Hong Kong Expats from moving. People who move often have to wait months after shipping their belongings to actually receive them. Hong Kong has…
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Government cracks down hard on pork hoarders
After Songkhla authorities accused one food company of hoarding 200 tonnes of pork in January, the government is on a mission to crack down on pork hoarding. Authorities have gotten more strict about storage and receiving procedures, and inspected 24.48 million kilograms of pork. They then seized 1.07 million kilograms of it that was hoarded. Pork prices are finally lowering…
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Truck drivers threaten to camp in front of Energy Ministry because of diesel price
Angry truck drivers say they will protest and camp out in front of if Thailand’s energy ministry if the minister doesn’t lower diesel prices in seven days. The chairman of the Land Transport Federation of Thailand (LTFT) also said the federation would join protests with other groups hurt by Thailand’s rising cost of living, like farmers affected by low crop…
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