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 New in July: Save 10% for life on family health plans in Thailand
Cigna has a special offer this July for families in Thailand. When you sign up three or more people on a family health plan, you will save 10% on your premiums for life. This deal helps you get affordable, high-quality...
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Unregistered hotels and lodgings told to get their paperwork in order, or close down
At least 5,000 of the country’s estimated 23,000 unregistered small hotels are expected to get their paperwork in order. The rush to action follows the announcement by the current government to register and comply with the Hotel Act, or be closed down. Most of Thailand’s busy tourist spots are rampant with small and illegal lodgings for tourists. Whilst the growth…
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Thailand’s exports plunge 5.8% in May
Thai exports have declined 5.8% for the month of May 2019. The value of May’s exports is 648 billion baht. The Commerce Ministry says in their report today that the contraction is mostly influenced by global factors including ongoing trade tensions between US and China and tighter global financial conditions, and specific factors of each country and region, political uncertainty…
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Private hospitals briefed on new drug prices and medical fee notifications
Internal Trade department officials have briefed representatives of 353 private hospitals around Thailand about the public notification of prices of drugs, medical supplies and medical services to patients are treated at their hospitals. Internal Trade Department Director General Wichai Phochanakit explained that the private hospitals need to notify the public of the prices of drugs separately, not including the hospital…
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Thai Baht hits six year high – 31.05 to the US dollar
The Thai baht has hit a six-year high, reaching 31.05 to the US dollar yesterday after the US Federal Reserve signalled possible interest rates cuts. The US Fed says their monetary easing would be in response to increased economic uncertainty and a drop in inflation expectations. The Thai currency is forecast to keep trading in a range of 31.15 to 31.25…
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Tesco looks to open 750 new convenience stores in Thailand
by James Davey, Editing by Paul Sandle Tesco, the UK’s largest retailer, has announced that it could grow its business in Thailand by opening 750 new convenience-style stores. There are currently1,583 Tesco stores in Thailand. Tesco’s Asian investment plunge will likely target the Chinese and South Korean markets as well. The Thai subsidiary, Tesco Lotus, was the first western supermarket to set…
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Chinese move their purchase power away from Bangkok condo market
Chinese condo buyers are veering their purchase power away from the Bangkok property market citing the strong Thai currency, overpricing and a supply glut. 2015 – 5.8 Yuan to the Thai Baht 2019 – 4.4 Yuan to the Thai Baht The rise of the baht and the weakening of the Chinese Yuan over the past four years, have culminated in…
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Bangkok to Hua Hin van operators blame Prayut but passengers say the service was “terrible”
PHOTO: NewsBeezer A minivan service from Bangkok to Hua Hin has been forced to conclude services by the end of June. “June and James Transport” are blaming the military government and NCPO leader Prayut Chan-o-cha. But Manager Online says reviews from customers shed a different light on the story saying the service was “terrible”. Customers say the vehicles were terrible…
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True Digital Park opens in Sukhumvit 101 Road, Bangkok
Under the concept of ‘One Roof, All Possibilities’, the new True Digital Park is now ready to support the country in driving the digital economy. The “Work Space” is a workplace and digital innovation development space. The True Digital Park says they will collaborate with government agencies, enterprises and global tech giants including The National Innovation Agency, Digital Economy Promotion Agency,…
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SCB report says political instability will dampen economic confidence
The question over stability of the new government continues to dampen economic outlook, despite the recent sittings of Parliament and the formal election of a new prime minister – this according to a new economic outlook report. The report by the Siam Commercial Bank’s Economic Intelligence Centre says that the new government will face difficulty in balancing the interest of each…
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Fishermen say they will protest fishing bans off Nakhon Si Thammarat, Thailand
Fishermen in Nakhon Si Thammarat are warning of mass protests against the provincial governor if he doesn’t act and allow them to fish legally in the seas off the provincial coast. The south Thailand fishermen say they’re being harassed by fishery officials. 500 local fishermen gathered yesterday to air their grievances to the newly elected Palang Pracharat MP for the…
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Private sector waits for new economic ministers to raise investor confidence
The private sector says they’re waiting to see the new ministers emerge from the current negotiations that will be in charge of economic portfolios, who may raise the confidence of investors. Meanwhile, the Consumer Confidence Index was at 77.7 in for the month of May, the lowest in 19 months. Thanawat Pholvichai, director of University of the Thai Chamber of…
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Facing headwinds in 2019, Thai economy looks better for 2020
The Thai economy is projected to grow 3.8% in 2019, slightly below last year’s 4.2%. The main reason is slower growth in the global economy. thailand-business-news.com reports that this is likely to lead to a deceleration in Thai exports and tourism, which will impact domestic consumption. But the report says that foreign direct investment and government stimulus measures could prop up…
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Is Airbnb taking over the Thai hotel industry?
Airbnb is posing a less significant threat to hotels in Thailand than expected, but its influence in the longer term should not be underestimated, according to real estate company JLL Offering new alternatives to travellers, Airbnb is certainly taking some of the wind out of the sails of the traditional hotel accommodation model. However, findings from Jone Lang Lasalle (JLL) shows…
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MRT extension from Hua Lamphong to Tha Phra opens Mother’s Day in Thailand
PHOTO: The Nation A free trial service of the MRT Blue Line extension from Bang Sue to Tha Phra in Bangkok will be launched at the beginning of next year, and commercial services will begin in March. Mother’s Day on August 12 this year has been picked for the official launch of the MRT extension service from Hua Lamphong to…
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Nation Multimedia Group takes legal action over alleged copyright violation
The Nation Multimedia Group is filing criminal cases against two media monitoring service companies for violation of its copyright. NMG’s subsidiaries Krungthep Turakij Media, Nation News Network and Kom Chad Luek Media, as plaintiffs, filed criminal cases with the Central Intellectual Property and International Trade Court on April 9 against iSentia Bangkok and iSentia Monitoring Services (Thailand). The two companies…
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Where are Thai’s heading for this summer holidays?
Thai travellers who are booking through Airbnb are discovering new ‘off the beaten track’ destinations. Globally, Airbnb identifies some of the top trending destinations based on percentage growth in bookings during the same time last year *. And when we say growth, we mean mega growth! The top choices are: • Valenciennes, France (704%) • Changsha, China (695%) • Matsudo, Japan…
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Phuket’s new town planning code will radically change island
Thailand’s Department of Public Works and Town & Country Planning is finalising sweeping new development regulations for Phuket. The island’s MICE industry is expected to be a big winner from the proposed changes (more below). In April the draft regulations were issued for public comment and it is expected the new set of rules will come into effect over the next…
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Airports of Thailand open bidding for new duty free contracts at three airports
Airports of Thailand (AoT) says they will finalise the bidding process to announce who will manage the commercial areas at three provincial airports – Phuket, Had Yai and Chiang Mai – on June 10. King Power Duty Free has had a stranglehold on the duty free concession areas of the country’s four main airports but are having to bid for…
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Thai Smile joins Star Alliance as ‘connecting partner’
Thai Smile Airways, the budget offshoot of Thai Airways, will become the “Connecting Partner” in the Star Alliance, the world’s largest airline network. Customers travelling on an itinerary which includes a transfer between a Star Alliance member airline and a Connecting Partner will be offered standard alliance benefits, such as the issue of a boarding passes for connecting flights at…
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Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
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Risland plans new developments in Bangkok and Phuket
PHOTO: Artist impression of the new Cloud Thonglor-Phetchaburi Hong Kong-based property developers Risland Thailand say they will spend 8 billion baht launching five residential projects in Bangkok and Phuket. The investment budget of 8 billion baht is an increase from 5 billion in 2018 and 3 billion in 2017, the first year Risland operated in the country. From June to…
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Thailand’s aviation industry passes international inspections
A pass mark, maybe a C+. The International Civil Aviation Organisation (ICAO) told Thai aviation officials have scored 65.07%, exceeding the minimum pass mark of 60%. Thailand only scored 34.2% when it received a ‘red flag’ four years ago. The score has been awarded after ICAO officials carried out a full inspection of Thailand’s civil aviation standards The inspections were…
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Beam me up Phuket – new space theme hotel for the island
A 150 key space themed hotel is under development in Kathu, Phuket, by a Singaporean group . Located close to the Central Festival and Makro complexes, the project is expected to open next year according to a report in TTG Asia. The One Pioneer – Beyond Space Travel hotel say it’s “highly focused on an outer space storyline and will have…
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25 workers injured after container explosion at Laem Chabang Port
At least 25 port workers have been injured and locals evacuated after an explosion in a container on a ship at dock at the Laem Chabang Port in Chon Buri, east of Bangkok, this morning. Laem Chabang’s port director Vice Admiral Yutthana Mokkhao says an urgent investigation is being undertaken to determine the contents of the container. The Hong Kong ship…
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“Very dangerous” Huawei could be part of a US-China trade deal
President Donald Trump has reiterated his complaints against China’s Huawei Technologies but conceded that they could be resolved as part of a negotiated US-China trade deal. Without providing evidence, he went on to call the Chinese telecommunications giant “very dangerous.” The US has virtually banned firms from conducting business with Huawei, the world’s largest telecom manufacturer, citing unspecified national security…
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April’s exports fall to the lowest level in 24 months
“Deputy PM Somkid Jatusripitak has scheduled a meeting on May 31 with Thailand’s commercial attachés from across the world in a bid to boost exports.” Thailand’s exports fell 2.6% last month (April) to US$18.5 billion, the lowest level since May 2017. Thai PBS reports that imports in April also dropped by 0.72% to about US$20 billion, resulting in a trade…
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WeWork opens up in Bangkok. What is WeWork?
“This will pave the way for WeWork’s unique proposition to connect two major groups within the WeWork community: corporations looking to innovate, and start-ups looking to grow and better establish their business.” WeWork has started operations in Thailand. So what is WeWork? WeWork – a platform for creators that provides space, community and services to help people build a life,…
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Skål International heads to Phuket, June 2020
by Paul Poole Tourism industry professionals from all over the world are expected to descend on Phuket between June 25-27, 2020, for the 49th edition of Skål Asia Congress. With more than 15,000 members in almost 90 different countries, Skål International is the world’s largest organisation of tourism professionals. Through countless local, national and international events, Skål International promotes global tourism…
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Thailand cuts rubber exports in a four month moratorium
Thailand is cutting rubber exports by 126,000 tonnes next week for a four month moratorium. This is a delay in implementing the supply cut agreement with two other regional producers, according to the Rubber Authority of Thailand. Originally it was agreed that Thailand, Malaysia and Indonesia would cut exports back on April 1, a date agreed by the International Tripartite…
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BioThai Foundation says companies growing hemp commercially will create monopoly:
“…as of now, only official agencies are allowed to grow hemp in the tribe-development zones in Chiang Mai, Chiang Rai, Nan, Tak, Mae Hong Son and Phetchabun provinces.” The Thai government’s plan to let privately-owned companies grow hemp commercially is progressing as part of a three year trial. But, BioThai Foundation says that giving specific companies the right to plant hemp…
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