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.
-
Sponsored Living on a budget in Thailand? Here’s how to stay healthy without breaking the bank
Thailand is a popular place for people who want to enjoy a good life at a lower cost or even on a budget. Many expats, retirees, and digital nomads choose to live here because daily expenses are cheaper than in...
-
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…
-
Thailand tries 2-prong strategy to get perishables to China
Thailand is bypassing supply-chain roadblocks to deliver its perishables – mainly agricultural and food products – to China, its biggest market in Asia. Since Thailand shares no border with China, perishable goods like fruit and vegetables have traditionally been sent from Thai farms and warehouses by truck, going through either Vietnam or Laos. Ships and planes are also used, but…
-
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,…
-
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…
-
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…
-
The future is now: 5G taking off in Thailand
5G… we’ve all heard aboutit, but what is it, really? 5G literally means fifth-generation wireless technology. As the successor to 4G, the biggest changes include higher speeds, almost zero latency (the delay in transfer of data once an instruction has been given), and the ability to connect more devices at once. However, the benefits of 5G aren’t limited to its…
-
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…
-
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…
-
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)…
-
Travel bubbles may be postponed “indefinitely”
The Civil Aviation Authority of Thailand now says the proposed “travel bubble” scheme, which could have allowed limited numbers of tourist arrivals from designated “low risk” countries, may have to be “postponed indefinitely”, after its 3 target partners – China, Japan and South Korea – experienced new outbreaks of Covid-19. On Tuesday, the CAAT’s director-general told reporters he expected Thailand…
-
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…
-
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…
-
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…
-
“I already lost heart years ago” – Thailand’s economic Tzar ponders his fate
Thailand’s Deputy PM and leading economic advisor, Somkid Jatusripitak, has acknowledged his fate if PM Prayut Chan-o-cha decides to reshuffle the cabinet. “A decision to shake up the cabinet is the prerogative of the prime minister.” “I have been prepared for a long time. I am old now. I already lost heart years ago.” Mr Somkid has long been proclaimed…
-
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…
-
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…
-
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…
-
900 million budget for MotoGP gets Cabinet nod
The Cabinet today gave the green light (pun intended) to the Tourism and Sports Ministry’s proposal to earmark 900 million baht for MotoGP race from 2021-2025. The ministry predicts the races will generate at least 3 billion baht in revenue. The licences for holding the motorbike races cost the government 100 million baht annually. Authorities paid 300 million for licences…
-
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…
-
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…
-
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…
-
Domestic tourism stimulus package registration starts July 15
Thai nationals, who are 18 years or older, can start registering for the domestic tourism stimulus package on July 15. The government’s “Rao Tiew Dauy Kan” (We Travel Together) scheme entitles 5 million Thais to discounts on hotels and eating out, while 2 million can get rebates on flight tickets. A report in the Nation Thailand says the arrangement will…
-
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…
-
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…
-
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…
-
Bangkok’s shopping malls struggle under tourist ban, fierce competition
Suvarnabhumi, the name of Bangkok’s second international airport, means “realm of gold,” and was given by His Majesty the late King Rama IX to Bangkok’s eastern outskirts (technically in Samut Prakhan province), once a marshland called Nong Nguhao (Cobra Swamp). With its overtones of wealth, the name represents the hopes of developers, who are turning the area into a retail…
-
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…
-
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…
-
Draft law would ban online alcohol sales in Thailand
In April, the government imposed a nationwide ban on the sale of alcoholic beverages as part of the Emergency Decree to stem the spread of Covid-19. Now the country’s top alcohol regulator has approved a draft regulation to ban online alcohol sales. The move comes after alcohol watchdog groups urged the government to crack down on the online sales, which…
-
Thai nightlife grapples with “new normal”
Thailand’s nightlife scene is grappling with a ‘new normal’ as changes upon its recent reopening see facemasks joining the normal bikini wear in red-light districts across the Kingdom. After being forced to close for more than 3 months in order to stop the spread of Covid-19, bars, karaoke venues and massage parlours are in the latest category of businesses allowed to…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.