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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From heiress to hero: Thai FA Madam Pang’s journey
Madam Pang, a fifth-generation heiress from Thailand’s billionaire Lamsam family, has transformed Thai football with her passion, leadership, and jaw-dropping generosity. Born Nualphan Lamsam, the 58 year old business mogul comes from one of Thailand’s wealthiest families, with an estimated net worth of US$890 million (approximately 30.82 billion baht). As CEO of Mueang Thai Insurance and a pioneer in introducing…
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Dream homes for less: Thai govt rolls out affordable housing project
Thais earning under 50,000 baht per month are being offered a golden opportunity to own a home in the city through the government’s “Baan Pheu Khon Thai” (Homes for Thais) initiative, with registration set to open on January 20. The project, announced by Transport Minister Suriya Juangroongruangkit, aims to provide affordable, fully furnished housing near urban centres, leveraging land owned…
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Thailand’s household debt reaches 104% of GDP, raising economic concerns
Thailand’s household debt, encompassing informal loans, has risen to 104% of GDP, potentially impacting future economic growth, as revealed by a private sector panel report. Research conducted by Chulalongkorn University for the Joint Standing Committee for Commerce, Industry and Banking (JSCCIB) shows the country’s household debt-to-GDP ratio reached 104% in the fourth quarter of 2024, with informal loans included in…
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Power play: Thailand plugs into cutting electricity costs
The Government of Thailand is actively exploring methods to reduce electricity costs, as suggested by former Prime Minister Thaksin Shinawatra, according to Deputy Prime Minister Pichai Chunhavajira. Responding to Thaksin’s remarks, the de facto leader of the ruling Pheu Thai Party, Pichai noted that Thaksin had assured voters in Chiang Rai of the government’s intention to decrease energy prices to…
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Thailand’s N3 lottery might be scrapped due to poor sales
The Finance Ministry is evaluating the future of the N3 lottery due to its lacklustre public response since its introduction last November. Deputy Finance Minister Julapun Amornvivat announced yesterday, January 7, that the three-digit lottery (N3), designed to rival illegal lotteries and expensive six-digit tickets (L6), has not met expectations during its trial phase. Introduced on November 1 as part…
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Elderly cash windfall: Thai govt handouts confirmed by January 29
The Thai government has officially confirmed that elderly citizens will receive their long-awaited 10,000 baht stimulus payments before January 29. Deputy Finance Minister Julapun Amornvivat, spilled the beans during a press conference at the Ministry of Finance today, January 7. “We assure you, the 10,000-baht payments will hit accounts before the deadline. The exact transfer date hinges on a final…
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CNY spending boom: Thailand poised for festive cash splash
Thailand’s economy is set to light up like a firecracker this Chinese New Year, with spending forecast to rise by over 3%, according to the Economic and Business Forecasting Centre at the University of the Thai Chamber of Commerce. Buoyed by a recovering economy, government cash injections, and a surge of Chinese tourists, the festival promises to spark a celebratory…
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Scrubs to feathers: Retired nurse rakes in a nest egg with ostriches
A retired nurse from Trang’s Mueang district has traded scrubs for feathers, earning a tidy nest egg by raising ostriches and selling their eggs and chicks. Prachuap Singkerk has transformed a two-rai plot of land next to her home into an ostrich haven, where she cares for nine of the towering birds: four males and five females. These industrious ostriches…
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Sweet profit: Lopburi melon farm thrives with high demand
The Orapan Melon Farm in Lopburi province has become a beacon of agricultural success, with its melons in high demand and orders booked well into the next year. Located in the Suratikarn Organic Farmers Group area, the farm cultivates two melon varieties: the Sanwan melon, a Japanese-style fruit with green netted skin and sweet, fragrant flesh, and the Thaihao melon…
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Thailand to revise minimum wage across provinces from January
Thailand is set to implement a new minimum wage structure across its 77 provinces from January 1, 2025. The decision was made following an extensive meeting led by Boonsong Thapchaiyuth, Permanent Secretary of the Ministry of Labour. The meeting, which took place yesterday, December 23 and lasted over five hours, resulted in a unanimous agreement on the new wage rates,…
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Thailand’s massage therapist shortage outlined by Health Ministry
Thailand’s Public Health Ministry has unveiled plans to train 7,000 new massage therapists, addressing a significant workforce shortage in an industry worth 200 billion baht annually. Public Health Minister Somsak Thepsuthin announced the initiative yesterday, December 22, emphasising the goal of elevating Thai traditional massage as a complementary treatment alongside conventional medicine. The programme will focus on developing specialists who…
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Thailand secures South Korean investment in Smart Park project
The Industrial Estate Authority of Thailand (IEAT) has successfully attracted an investment commitment of US$500 million (approximately 17 billion baht) from South Korean investors for the development of Smart Park. The initiative, part of the Now Thailand – The Golden Era campaign, aims to position Thailand as a prime destination for international business ventures. Yuthasak Supasorn, Chairperson of IEAT, welcomed…
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Expensive seafood in Thailand sparks online debate
A customer’s disappointment over an expensive seafood purchase has sparked a heated online debate. After ordering fresh salmon for 200 baht and steamed blue crabs for 120 baht, a woman found her portions to be smaller than expected. The woman’s complaint was met with the vendor’s unapologetic response that this was their standard practice, igniting further criticism from social media…
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Thailand rolls out red carpet with bigger rebates for filmmakers
The Thail Cabinet approved an increase in the rebate offered to foreign film productions, raising it to a range of 15 to 30% to attract more international filmmakers to shoot in the country. This decision, announced by Jirayu Huangsap, spokesperson for the Prime Minister’s Office, is part of a revised strategy to bolster Thailand’s appeal as a filming destination. The…
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2025 kicks off with a salesplosion from the Commerce Ministry
Hold onto your hats, shoppers: the Commerce Ministry is kicking off 2025 with a bang, unveiling its sensational New Year Mega Sale 2025. With jaw-dropping discounts of up to 80% on over 40,000 products and services, this is a shopping spree you won’t want to miss. Over 300 vendors are rolling out the red carpet, from major manufacturers and department…
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Thailand aims to boost trade with Mongolia to 2027 goals
Thailand is gearing up to expand its trade relations with Mongolia, aiming to surpass the 100 million US dollar mark in trade value by 2027. Following discussions with Amarsanaa Tumur, Mongolia’s Ambassador to Thailand, the Minister of Commerce, Phichai Naripthaphan, highlighted efforts to bolster economic cooperation through the Thailand-Mongolia Joint Trade Committee. This initiative aims to open new markets for…
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Yasothon man wins 12 million baht in lottery draw
A man from the northeastern province of Yasothon has become a multimillionaire after winning the top prize of 12 million baht in the latest lottery draw. Hailing from Don Sai Mun district, his life changed dramatically with the announcement yesterday, December 16, by the Thai Government Lottery. The winning numbers for the first prize were 097863, with additional prizes including…
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December 16 lottery results announced: 6 million baht first prize
Yesterday’s lottery draw results have been announced, with many eagerly checking their tickets. The winning number for the first prize, worth 6 million baht, is 097863. Additional prize categories include the three-digit front and back numbers, the two-digit numbers, and various other prizes. The first prize was awarded to the ticket with the number 097863, granting the winner a substantial…
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Grain gains: Thai farmers to receive 1,000 baht per rai support
The Bank of Agriculture and Agricultural Cooperatives (BAAC) has initiated a comprehensive financial support programme, transferring 1,000 baht per rai to Thai rice farmers across the country. Deputy Finance Minister Jullapan Amornvivat presided over the first day of payments, aimed at providing relief and encouraging agricultural productivity. The support programme targets 4.61 million farming households, with total funding reaching 37.4…
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Thai entertainment shines at Singapore’s Asia TV Forum 2024
Thailand’s entertainment industry has made a dazzling splash at the Asia TV Forum & Market 2024 (ATF) in Singapore, proving its growing appeal on the global stage. With a vibrant showcase of films, dramas, and BL series, Thai producers left international buyers and collaborators eager for more. Held from December 3 to 6 at Marina Bay Sands, the event saw…
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Thailand advised to limit economic stimulus as recovery progresses
The Government of Thailand is being urged to reconsider its approach to economic stimulus as the country’s economy shows signs of recovery. The Thailand Development Research Institute (TDRI) advised against implementing large-scale economic stimulus measures, arguing that the economy is on a path to sustainable growth. Nonarit Bisonyabut, a research fellow at TDRI, likened the private sector’s reliance on government…
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Thailand proposes VAT hike, cuts income tax to boost economy
Finance Minister Pichai Chunhavajira has proposed a shift in Thailand’s tax strategy to bolster state revenue and enhance the nation’s economic standing. The plan includes raising the value-added tax (VAT) while reducing corporate and personal income tax rates. This approach aims to drive national development, increase competitiveness, and address domestic disparities. The Organisation for Economic Co-operation and Development recently set…
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Airbus partnership aims to turn Thailand into aviation powerhouse
Thailand is gearing up to soar as the region’s top aviation hub, thanks to a high-flying partnership with European aerospace giant Airbus. In a bid to revolutionise the nation’s aviation infrastructure and safety standards, Transport Minister Suriya Jungrungreangkit met Airbus Asia-Pacific president Anand Stanley in Bangkok yesterday, December 3, to map out ambitious plans. The partnership focuses on transforming Thailand…
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Thai social security wage ceiling set to increase by 2026
The Thai Social Security Office (SSO) is set to revise its wage ceiling, planning an increase to between 17,500 and 23,000 baht. This change aims to enhance pensions and compensation benefits for insured individuals under Section 33, with implementation expected by January 2026. The SSO of the Ministry of Labour opened a public consultation recently to gather opinions on a…
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Thai Cabinet approves civil service salary increase proposal
The Thai Cabinet has acknowledged a proposal to adjust the starting salaries for new civil service recruits, with a bachelor’s degree holder earning no less than 18,000 baht and a vocational certificate holder receiving a minimum of 11,000 baht. This adjustment is expected to utilise a budget of 2.67 billion baht. A meeting took place at Chiang Mai Rajabhat University,…
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Rice and shine: Parboiled prices soar as global markets heat up
Global rice markets are heating up as prices for parboiled rice surged this week, driven by robust demand in major export hubs India and Thailand. After three weeks of stability, Indian and Thai exporters are now cashing in on renewed interest, while Vietnamese traders grapple with stagnant sales. India, the world’s largest rice exporter, saw its 5% broken parboiled rice…
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Thailand’s economy shifts into gear but auto industry hits a bump
Thailand’s economy is on a cautious upswing, buoyed by a surge in exports, a bustling tourism sector, and healthier private consumption. Yet, the road ahead isn’t entirely smooth, with the automotive industry hitting a bump. The Fiscal Policy Office (FPO) has laid bare the mixed fortunes in its recent October economic report, painting a picture of resilience tinged with challenges.…
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Thai coffee lovers ditch pricey cups amid economic squeeze
Thai coffee drinkers are cutting back on their caffeine budgets as the economic crunch hits hard, with pricey cups over 100 baht losing their flavour. Korn Sanguankeaw, Vice President of the Specialty Coffee Association of Thailand, revealed yesterday, November 26, that cafés offering cheaper brews have seen explosive growth of 60 to 100%. “Consumers prefer coffee priced at 60 to…
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Thailand’s automotive production lowest since pandemic
Thailand’s automotive sector faces a significant downturn in 2024, with the Federation of Thai Industries (FTI) projecting annual vehicle production to hit 1.5 million units, marking the lowest output since 2021’s pandemic-affected figures. Speaking at a briefing today, November 25, FTI automotive industry group spokesperson Surapong Paisitpatnapong announced this second downward revision of the year. The federation had previously lowered…
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Thai PM yet to unveil new stimulus to boost economic growth
After nearly three months in office, Prime Minister Paetongtarn Shinawatra is poised to influence Thailand’s economic growth through a series of new stimulus proposals. These measures aim to address various economic challenges and are anticipated to be unveiled shortly. The National Economic and Social Development Council (NESDC) recently projected Thailand’s GDP growth to be between 2.3% and 3.3% for 2025,…
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