Economy News
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Bangkok university professor says no “travel bubbles” for at least 6 months
A professor at Bangkok’s Chulalongkorn University says Thailand’s “travel bubble” plan, which would allow small groups of foreign tourists to visit Thailand, should be put on hold for at least another 6 months. In a Facebook post yesterday, he said that the global Covid-19 situation remains “of serious concern”, as new infections are still surging, with more than 200,000 new…
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Thai economy won’t need a bailout from the IMF
The Thai economy won’t need a bailout from the International Monetary Fund, although the GDP growth for 2020 may end up being the lowest in the region. The Governor of the Bank of Thailand, Veerathai Santipraphob says the Thai economy is “strong enough”. Speaking at a seminar entitled “Post-Covid Economic Direction”, Veerathai noted that, although Thailand has managed to control…
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“It will take several years for tourism numbers to recover” – BoT
The Bank of Thailand chief says that “it would take several years for foreign tourist numbers to return to the 40 million levels”. The BoT says, that the coronavirus pandemic has heavily impacted a “lucrative industry” that provides a lot of jobs. The BoT expects only 8 million foreign visitors this year, down 80% from last year’s record 39.8 million.…
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Emergency Decree, Phase 6 to be discussed in coming weeks: CCSA
Dr. Taweesin Visanuyothin, spokesperson of the Centre for Covid-19 Situation Administration, said in a press conference this morning that discussions on the Emergency Decree and a “Phase 6” of lifting Covid-19 restrictions and reopening the country are expected in the upcoming weeks. A meeting is expected of the committees, including the CCSA and the National Security Council, responsible for easing…
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Poll: vast majority fear second virus wave, support foreign arrival ban
A recent opinion poll by Suan Dusit Rajabhat University, or Suan Dusit Poll, showed well over 90% of respondents fear a second wave of Covid-19 and want a complete ban on foreign arrivals in Thailand. The poll, taken July 14-18, gauged the concerns of 1,459 Thai adults of various education levels and occupations, about the possibility of a second outbreak,…
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Suvarnabhhumi Airport sees huge jump in traffic
Despite a continued and near-total ban on international arrivals, Bangkok’s Suvarnabhumi International Airport is seeing a spike in traffic after the government eased lockdown measures and allowed domestic travel. The airport’s general manager says that from July 1-15, Suvarnabhumi saw 3,205 flights (1,604 incoming and 1,601 outgoing) or an average of 214 per day. “The total number of passengers using…
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Somkid’s departure sees baht drop further
The baht’s current shine as the ‘safe’ current in Asia has lost its lustre. After riding high as Asia’s best performing currency last year, the baht has wiped out all of its 8% gains this year during the Covid-19 crisis, and yesterday’s announcement of the resignations of Deputy PM Somkid Jatusripitak and “the four big boys” (4 of Prayut Chan-o-cha’s…
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Thailand’s over-zealous virus control is killing the economy
Investors and economists are saying that “fear” and concerns over a second wave of Covid-19 is stopping Thailand’s economy recover. “Thailand should overcome concern of a second wave of Covid-19 and instead relax restrictions on foreign investors and tourists in order to shore up its falling economy.” Prominent local investor Dr. Niwes Hemvachiravarakorn says that the Thai Government… “shouldn’t worry…
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Thailand to allow medical tourism within 2 weeks
The Centre for Covid-19 Situation Administration announced today that Thailand’s medical tourism and wellness programs will go ahead despite the controversy swirling around 2 Covid-19 cases this week – in Bangkok and in Rayong. CCSA spokesman Dr Taweesin Visanuyothin says the Ministry of Public Health will announce a list of hospitals that pass its criteria next week, and the first…
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Deputy PM Somkid, top economic team resign
Deputy PM Somkid Jatusripitak, widely considered Thailand’s economic tzar, has resigned, along with 3 ministers working for him, paving the way for the long-rumoured cabinet reshuffle by PM Prayut Chan-o-cha of the government’s economic team. The 3 others are Finance Minister Uttama Savanayana, the energy minister and the minister of higher education, science, research, and innovation. The deputy secretary-general of…
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Poll shows most Thais still oppose foreign arrivals
A recent survey carried out by the National Institute of Development Administration, or Nida Poll, shows that a majority of Thais still oppose opening the country to foreigners, even if they’re not infected with Covid-19, saying the global coronavirus situation is still very serious. The poll was conducted on July 6-8 on 1,251 people aged 18 and over, of various…
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Koh Lan to get “neo” branding to attract tourists
The popular resort island of Koh Lan, about 8 kilometres off the Pattaya coast in the Gulf of Thailand, will become “Neo Koh Lan”, as Pattaya is being upgraded as a tourism and investment hub under the Thai government’s poster economic project, the Eastern Economic Corridor (EEC) scheme. Pattaya’s mayor says the island, along with Koh Sichang (north of Koh Lan)…
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Former PM Abhisit, Thanathorn promote welfare state in Thailand
A former PM of Thailand is criticising the administration of PM Prayut Chan-o-cha for what he called the “lack of improvement in people’s livelihoods” and the absence of a solid welfare system. Former PM Abhisit Vejjajiva made the comment during a seminar on socio-economic issues yesterday. The seminar was organised by We Fair, a group advocating turning Thailand into a…
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One third of tourism businesses could go under due to Covid-19
The president of the Tourism Council of Thailand is warning that close to a third of tourism-related businesses are likely to be permanently shuttered in the second half of this year, due to the impact of the Covid-19 crisis. Chairat Trirattanajarasporn says many will simply run out of liquidity to keep their businesses afloat and be forced to close up…
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“Travel bubbles” to require minimum 2 week stay
“Travel bubble” tourists who visit Thailand during its soft and timid reopening phase, tentatively scheduled for August, may have to spend 14 days in designated areas. Then, a negative test for Covid-19 after 2 weeks would free them up to go anywhere in the Kingdom. Thailand’s tourism and sports minister says he’s met with PM Prayut Chan-o-cha about creating travel…
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Bangkok clinics in 72 million baht fraud scandal
The National Health Security Office has registered a complaint against 18 clinics in Bangkok, and thousands of patients will be questioned by police investigating an alleged 72 million baht in fraudulent claims under the government’s 30 baht scheme, also known as the “gold card” scheme. Police said yesterday that as many as 10,000 patients of the rogue clinics may be…
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Cabinet reshuffle coming as 4 economic ministers resign
PM Prayut Chan-o-cha says he’ll reshuffle the Cabinet following the resignations of 4 economic ministers from the ruling Palang Pracharat Party. The finance minister, energy minister, the minister of higher education, science, research and innovation and the deputy secretary-general to the PM and secretary to the Council of Economic Ministers held a joint press conference to announce their resignations. Political…
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Thai agriculture minister to take a delegation on a coconut harvesting tour
The ‘Monkey Business’ story has drawn a lot of attention following the People for the Ethical Treatment of Animals’ companies about alleged abuse and misuse of trained macaque monkeys to pick Thai coconuts for commercial purposes. After a week of articles, videos and debate about the relative merits of using monkeys to pick coconuts, the Thai Agriculture Minister formerly invited…
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Thai Airways creates “survival team”
Beleaguered national flag carrier Thai Airways has created a so-called “survival team” to work out a business plan to support its debt rehabilitation, according to a source at the airline. The company filed for bankruptcy protection on May 19. The survival team is tasked with producing a business plan, effective through October 31. The airline’s acting president has ordered the…
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AOT considering joint venture with Thai Airways to keep services running
The company that runs 6 of Thailand’s airports says it wants to work with Thai Airways to ensure airport services can continue while the national carrier goes through a “rehabilitation” process and struggles with the loss of business caused by the Covid-19 crisis. Airports of Thailand president Nitinai Sirismatthakarn says the AOT board is in talks about a joint venture…
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First post-Covid flight from China lands in Bangkok
The first charter flight from China to Thailand has landed in Bangkok, after Thailand partially lifted its 3 month ban on foreign arrivals on July 1. Yesterday, a Spring Airlines flight flew 31 Thai nationals and 21 members of a Chinese company in Thailand from Shanghai’s Pudong International Airport to Bangkok’s Suvarnabhumi International airport. All foreigners, except those with work…
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Government defends “monkey business” after PETA call for boycott on Thai coconut products
People for the Ethical Treatment of Animals, the US-based animal rights group, is no stranger to controversy and has been accused of double standards in the past. Now it faces accusations of “cultural racism” after its open call to ban all Thai coconut products because some of the coconuts may have been harvested by monkeys. In a statement issued this…
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“Travel bubble” scheme likely to be delayed
Thailand’s “travel bubble” scheme, which would allow limited numbers of certain groups of tourists from nations or areas deemed Covid-19 free by the World Health Organisation, now appears likely to be delayed. The Civil Aviation Authority of Thailand has announced the delay after several countries, that were considered for the scheme, have now seen resurgences of the virus. The CAAT’s…
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Thailand’s economy facing bleakest prediction in Asia
“The Bank of Thailand predicts that its gross domestic product will shrink by more than 8% this year.” While Thailand appears to have been successful in suppressing the Covid-19 virus, a report in The Bangkok Post today says the outlook for the country’s economy is far from favourable, calling it the worst in Asia. The Bank of Thailand predictions are…
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US ambassador meets deputy PM to discuss Thailand’s “great investment potential”
US Ambassador to Thailand Michael George DeSombre, who raised eyebrows in May when he described the US as “a better friend than China,” has praised the kingdom’s “great investment potential”, highlighting the expansion of current projects and further support for industry as ways to promote further cooperation. Deputy PM Somkid Jatusripitak welcomed the ambassador to the open discussion amongst key trade…
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Thai PM expresses concern over “travel bubbles”
PM Prayut Chan-o-cha has expressed serious concerns about the resumption of international travel under the “travel bubble” scheme, stressing that Thailand must implement a vigorous arrivals screening protocol. The scheme is a proposed limited resumption of international travel to and from countries with a reciprocal agreement. The Thai government has indicated it has taken a risk-averse stance with future Covid-19…
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Major international retailers banning monkey-picked coconuts – VIDEO
Allegations of animal abuse are prompting major Western retailers to pull Thai coconut products from their shelves, amid accusations that the coconuts are picked by monkeys treated inhumanely. People for the Ethical Treatment of Animals claim monkeys are snatched from the wild and trained to pick up to 1,000 coconuts a day. The animal rights group says pigtailed macaques are…
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Thailand growing more expensive for expats
According to Employment Conditions Abroad, Bangkok and Chiang Mai are among the 30 most expensive cities for expats in Asia. The capital of Turkmenistan might not spring to mind when with considering the priciest cities, but according to ECA International it ranks first on both the global and Asian tables, a 5 point rise up the rankings due to an…
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Medical, wellness tourists will be first to be allowed in: CCSA
The government plans to allow local tours for overseas medical and wellness tourists beginning this month, and the start of tourism “travel bubbles” in September. Taweesilp Visanuyothin, spokesman for the Centre for Covid-19 Situation Administration, said medical and wellness tourists will be welcomed from this month on. If they are properly handled during their 14 day quarantine and treatment at…
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Chiang Mai International Airport sees more traffic
Northern Thailand’s gateway airport is recovering some of its flight and passenger traffic. With the easing of travel restrictions enforced to fight the spread of Covid-19, the director of Chiang Mai’s international airport says traffic is picking up, and more flights and passengers are expected this month. On average, the airport received 40 flights and about 4,000-5,000 passengers per day…
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