Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Sponsored How to reduce out-of-pocket medical expenses in Thailand?
Managing medical expenses in Thailand is important as healthcare costs continue to rise. The country’s healthcare system includes both public and private options, but even with the Universal Coverage Scheme (UCS) for citizens, many still face high out-of-pocket medical expenses....
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The case for temporarily closing hotel and restaurant operations
OPINION by Bill Barnett As the final days of disruptive 2020 come screeching to an erratic end, hotel, and restaurant owners are peering into an unpredictable year ahead. Here in Thailand over the past week, the tourism industry has been shaken to its core over an uptick in Covid-19 cases and backroom speculation over fears of another round of lockdowns. (Restrictions,…
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Thai government plans to amend business, immigration rules, for foreign investors
Foreign investors in Thailand have long decried the onerous, complex, and sometimes downright baffling, bureaucracy that comes with doing business in the Land of Smiles. And it appears officials in Bangkok are finally sitting up and taking notice. Nation Thailand reports that, in an effort to stimulate the ailing economy, the government plans to make some changes to the regulations…
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Something fishy about the Samut Sakhon Covid outbreak – who’s responsible?
Here are 2 resources for the above story… https://thethaiger.com/news/national/… http://www.rapid-asia.com/blog/forced… Until the weekend many people would have never heard of Samut Sakhon, a province just south west of Greater Bangkok and sharing a provincial border with the capital. The province is best known as a major hub for Thailand’s shrimp and fishing industry, packed with markets around the coastal tributaries…
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Bangkok’s commercial property market struggles through 2020
This year Thailand’s developers had to work around the effects of government lockdowns and restrictions because of the Covid-19 pandemic. Indeed significant changes have occurred to the commercial property market in Thailand. CBRE Research reports that the Bangkok office market suffered a significant change in the net up-take, whilst the retail market consumer confidence index fell and the hotel market…
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How to buy gold in Thailand – from bracelets to baht
Jett Gunther visits Bangkok’s Chinatown and discusses why you should buy gold in Thailand, and how. Bangkok is home to one of the largest Chinatowns in the world, and the Chinese love gold! Not only is gold highly regarded as a sacred metal, gold has held its value for thousands of years! In the past 20 years alone, the price…
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Starting a Business In Southeast Asia
Southeast Asia is potentially one of the most exciting places to begin a business, due to its young population, wide variety of skills sets within that population, such as those learned on an online MBA degree, as well as how quickly various economies within the region are growing. Places like Thailand, Vietnam and Malaysia are becoming not just Asian, but…
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What has the pandemic taught hotels about luxury. Is ‘less’ more?
by Anthony Lark “Let’s say goodbye to all that stale pretence and manufactured pomp” Until the collective nightmare that was 2020, many of the so-called high-end hotels had a reputation for trying to convince guests to pay for often dingy guestrooms lacking any real views inside an otherwise ornate structure with a storied, celebrated past, where the first impression was…
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Thai Airways to resume flights from Bangkok to Chiang Mai and Phuket
After nearly 9 months on the ground due to the coronavirus pandemic, along with problems balancing their accounts, Thai Airways will resume flights between Bangkok and Chiang Mai as well as Bangkok and Phuket later this month. The flights will start back up on Christmas day. Flights from Bangkok to the 2 key tourist provinces have been grounded since April…
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Suvarnabhumi expansion being reviewed in line with “new normal” expectations
The 44 billion baht northern expansion of Bangkok’s Suvarnabhumi airport is being revised, to meet “new normal” requirements, according to Airports of Thailand. AOT president, Nitinai Sirismatthakarn, says the process will take 1 or 2 months to complete. Nation Thailand reports that the airport’s new northern terminal will have the capacity to handle 30 million passengers a year, with Nitinai…
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Pandemic has washed away Pattaya’s “soapy” massage parlours
While the Covid pandemic has hit Thailand’s businesses hard, it has also washed away its not-so-legal soapy massage parlours after tourism has dried up its clientele. Such places, known as glorified brothels, have left many masseuses out of work as boards have barricaded the once booming establishments. Soapy Massage (àap-òp-nûat, อาบอบนวด, literally bath, steam, massage)… These are the bigger massage parlours where…
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Bank of Thailand takes action to curb Thai baht’s strength
The Bank of Thailand has moved forward measures, originally meant to begin early 2021, but most of which will now take effect from end of this month. The end result is that the new rules will make it easier for Thais to shuffle money overseas and invest in foreign assets. It will also make is easier for Thai citizens to…
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Hotel investment group launches world’s first “green” hotel fund
Destination Capital, a hotel investment group in Bangkok, has announced that it will launch the world’s first ever “green” hotel fund. The fund will acquire hotels and implement sustainability systems and procedures to promote long term environmental and financial sustainability in investments using the EDGE certification programme. EDGE, an online platform, is an innovation of the International Finance Corporation, which…
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US grocers cut ties with Thai coconut milk company after PETA reveals monkey labour
Grocery stores throughout the United States are cutting ties with the Thai coconut milk company Chaokoh and other Thailand coconut product suppliers following an investigation by People for the Ethical Treatment of Animals (PETA) into the monkey labour at Thailand coconut farms. PETA Asia claims the Thai macaques are “snatched from the wild” and treated like “coconut picking machines.” Recently,…
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Thai Airways adds another 21.5 billion baht debt in Q3 report
Thai Airways has accumulated more losses, on top of a decade of annual losses, for the latest quarter. At the moment the national airline’s debt is four times higher than last year’s debt. The airline, already struggling, has been mostly grounded since the end of March. At the end of last week Thai Airways put 34 of its old planes…
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Phuket & Koh Samui face financial ruin in the short to medium term – VIDEO
Phuket and Samui are both islands, fed mostly by arrivals at their international airports. Of course, both remain closed and the islands are trying to survive on a dribble of domestic tourists. And there’s no sign of hope any time soon for the future. Bill Barnett is ‘Mr Hotel & Hospitality’ for Thailand and the region. What does he see…
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Second Thai airline hit by Covid fallout as Nok Air to prepare rehab plan
The Central Bankruptcy Court has approved Nok Air’s petition to begin a rehabilitation process, as the low-cost airline struggles with losses incurred due to the Covid-19 economic fallout. The Bangkok Post reports that Nok Air has debts of up to 26 billion baht, with 23 billion baht in assets. In the first half of 2020, it reported revenue of 3.4…
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Hotels reluctant to apply for ASQ status due to government’s cap on tourist arrivals
With the number of foreign arrivals who can enter Thailand on the special tourist visa limited to just 1,200 a month, hotel owners say they’re reluctant to apply for alternative state quarantine status. Hoteliers say a lack of tourists in sufficient numbers, coupled with the number of quarantine facilities already in existence, means the investment required to gain ASQ approval…
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Thai Airways to launch one-off flight over sacred Buddhist sites
Thai Airways has announced a special flight on November 30 that will give passengers the opportunity to chant Buddhist mantras while flying over 99 sacred sites in the Kingdom. Wiwat Piyawiroj, executive vice-president at the struggling national carrier, says passengers will fly over Bangkok and 31 provinces, taking in 99 holy sites, over which they will be able to chant…
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Government to consider rescue packages for tourism businesses in South
The government will hold a mobile Cabinet meeting in Phuket today to consider potential rescue packages for tourism-related businesses that have been ravaged by the closure of international borders. The proposals, which include soft loans for airlines and other businesses, come after PM Prayut Chan-o-cha met with Phuket business representatives and local officials yesterday. The Bangkok Post reports that the…
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Free Trade Agreement talks continue between Thailand and EU
Thailand is resuming trade talks with the European Union on the long-delayed Thai-EU free trade agreement. The 15th Thai-EU Senior Officials’ conference was held virtually between leading Thai and European trade officials this week. The push was on to have the Free Trade Agreement signed and sealed by the end of this year. Discussions were held regarding the ongoing affects…
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Thailand’s media spend shrinks as brands shy away from ‘bad’ news
Young protesters, who use social media and messaging intuitively vs Thai officials and police who try and track those messages to keep up with the plans of the protest movement. Although Thai police have water cannons and brute force, the Thai youth at the core of the current protest movement also have a valuable weapon. And it’s being used more…
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Foreign investors and businesspeople seek clarity about the current “situation” in Thailand
With Thailand battling to come up with a safe and sustainable manner of re-opening its borders, and the footage of the street protests reaching out to a world audience, foreign investors are saying they need more details of what they can or cannot do in Thailand under the new State of Emergency. The Thai Chamber of Commerce is calling for…
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Bangkok office rents drop for the first time in 10 years
As the coronavirus pandemic continues to take a toll on Thailand, and the region’s, economy, Bangkok office rents and occupancy rates are expected to drop after consistent growth over the past 10 years, according to Colliers International Thailand. It will be the first contraction in that sector since 2010, according to the property consultancy’s associate director of research and communication,…
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Thai Airways seeks to conserve finances by offering unpaid leave, early retirement
Thailand’s long-suffering national carrier is trying to conserve what cash it has by offering staff early retirement or unpaid leave. Thai Airways says it’s seeking to reduce its workforce in an attempt to stretch its finances to April 2021. According to a Bangkok Post report, acting president Chansin Treenuchagron says 80% of the airline’s employees have agreed to salary cuts…
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Expat shift drives changes in Bangkok’s condo market
Thailand’s dominant working expat nationality in past decades has been Japanese, currently making up 18% of expatriates in the country. But, while Japanese expatriate numbers are decreasing, a CBRE report notes that Chinese and Filipinos are on the rise. There were 28,560 Japanese expats in Thailand as of Q3 2020, just ahead of the Chinese expat contingent at 25,811. As China’s manufacturing has…
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Thai Airways to provide flights to some international destinations this month
Thai Airways, the beleaguered national carrier currently undergoing a “rehabilitation” process (code for bankruptcy and restructure proceedings), says it’s laying on a number of special flights to destinations outside the Kingdom this month. Nation Thailand reports that the airline is introducing flights to Hong Kong, Taipei, London, Copenhagen and Stockholm. Executive Vice President Wiwat Piyawiroj says the flights are being…
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Thai Vietjet introduce new “Deluxe” product for domestic routes in Thailand
Thai Vietjet, which currently operates 13 domestic routes within Thailand, is launching a new “Deluxe” product, starting from 999 baht. The “Deluxe” tickets will include 7 kilos of carry-on and 20 kilos of checked luggage (currently an additional charge), as well as seat selection and priority check-in. Date, route and flight changes are also permitted 1 time, free of charge.…
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Thailand’s first cancer medicine factory expected to cut drug costs in half
The government just sealed the deal to build Thailand’s first factory to produce cancer-treating medicine and chemicals, a move that is expected to cut treatment drug costs in half. Buying imported cancer-treating drugs is expensive. Thailand spends about 21 billion baht per year on imported cancer medicine, according to Deputy PM and Public Health Minister Anutin Charnvirakul. The local factory is intended…
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Thailand’s Social Security Office forced to explain investment in Sri Panwa Phuket Resort trust fund
The Social Security Office, a department under the direction of Thailand’s Ministry of Labour, is being asked to explain its investment in the trust fund of Phuket’s Sri Panwa Phuket Resort. The demand comes as members of the opposition and political activists call for an investigation into the property’s land rights. The owner of Sri Panwa Phuket, Vorasit Issara, has…
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Struggling airlines to get reprieve through small loans, extension to fuel tax cut
Airlines in Thailand are being offered a financial lifeline, as the Government Savings Bank announces soft loans for carriers left struggling as a result of the current Covid-19 ‘disruption’. Nation Thailand reports that the GSB is offering the loans over a 60 month period, with an annual interest rate of 2%. Chairman Patchara Anuntasilpa says the proposal will shortly be…
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