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 Long-term life in Thailand? 5 reasons private health insurance pays off in the long run
Thailand is a great place for expats and retirees, offering a warm climate, affordable living, and rich culture. However, healthcare can be tricky for foreigners since they aren’t eligible for public health coverage, and private care can be expensive. Private...
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Government is to allow people to use “legal” parts of cannabis in business
With intentions to promote cannabis as the country’s potential new cash crop, the government is preparing guideline to allow people to produce, sell or own cannabis and hemp. The permitted businesses, including textile, pharmaceutical, and cosmetics will be able to register to receive FDA permissions from January 29. According to the FDA secretary-general, leaves, stalks, stems, roots, flowers, and seeds…
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Future of Thai department stores is being redefined
While department stores have been a familiar destination for Thai people for many decades, CBRE, an international property consultant, is witnessing a decline in popularity and stunted growth, particularly in 2020 when Covid-19 adversely impacted the sector. CBRE believes that to adapt to e-commerce disruption and the changing consumer behaviour, department stores in 2021 (and beyond) will have to fine-tune…
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US jobs market stumbles back into decline
The labour market for the world’s largest economy is heading back into reverse mode after slowly chugging back into gear over the past 8 months, following the March stock crash and initial impacts of the US state lockdown measures.. The December report was the first drop since April figures, providing the strongest evidence of the impact of the huge number…
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Covid-19 could cost an estimated 9 billion baht loss to the economy – Thai alcohol association
An alcohol business association is saying the latest round of restrictions and closures on pubs and bars could cost the industry and businesses 9 billion baht. The Thai Alcohol Beverage Business Association is railing against the Thai government’s policies as they restrict the operations and operating hours of tens of thousands of bars, pubs and clubs around the country. They…
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Thai Airways delays take off in 2021 | VIDEO
Due to the current outbreak of Covid-19, Thai Airways, Thailand’s flagship airline, is reducing its international flight schedule until at least March 27. A limited schedule of domestic flights are still operating as normal under the airline’s domestic carrier Thai Smile. Thai Airways will reduce international flights to the following destinations: Asia •Hong Kong: One daily return flight – TG638/TG639…
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Latest details of Covid restrictions and locations in Thailand | VIDEO
UPDATE: From tomorrow (Tuesday), restaurants will be required to close to in-dining customers, from 7pm to 6am. Restrictions are now in place, as of midnight last night, as the latest mitigations against Thailand’s Covid-19 outbreak. The outbreak, which kicked off on December 20 last year, has now reached most of Thailand’s provinces, some more affected than others, and that…
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Thai Restaurant Association asks PM not to restrict in-dining services
As the 4 day New Year long weekend comes to a close, there are a number of proposed restrictions looming as the CCSA battles to contain the latest outbreaks of cases, particularly in and around Bangkok and the nearby easter provinces. There is currently a proposal to restrict Bangkok’s restaurants to take away services only, as well as full travel…
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What’s closed in Bangkok? Decision on restaurants today.
Here’s the full list of closures from the BMA that went into effect at midnight last night in the city of Bangkok. The Bangkok Metropolitan Organisation has closed “high risk’ venues around Bangkok.(Pattaya/Banglamung list of restrictions and closures below) Entertainment venues, water parks, amusement parks, playgrounds, floating markets, flea markets, snooker and billiards clubs, arcade game premises, games shops, Internet…
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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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Monopoly comes to Phuket, but don’t Go To Jail!
You may not be able to physically visit the world famous holiday island right now, but you can buy and trade property along it’s best known streets – all whilst sitting at home and playing Phuket Monopoly with your family. You can also get “free parking”, usually at a premium in Phuket’s most popular towns. But make sure you don’t…
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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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Bangkok is the best leisure city in the Asia Pacific – Business Traveller Asia-Pacific
Despite few travellers actually being able to visit Thailand’s capital, including ‘business travellers, readers of Business Traveller Asia-Pacific have again named Bangkok the ‘Best Leisure City in the Asia-Pacific’. The Big Mango retains the top ranking on the list for the 5th consecutive year. Bangkok also got third place in the ranking of the Best Business city in the Asia.…
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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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Krabi’s Ao Nang businesses shut up or sell up
Ao Nang, Krabi’s tourist strip, is struggling under the strain of no customers or tourists. Thai Residents reports that there are now at least 10 hotels up for sale valued at billions of baht. Businesses and hotels along the popular Ao Nang tourist strip have been shutting down because of the prolonged closure of Thailand’s borders to general tourism. Even…
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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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Thai cabinet approves extension of jet fuel levy holiday
Whilst the current cheapest domestic air fares have been around the same prices they were before local airlines were grounded, there is a possibility of some more drops in your seat prices. Thailand’s budget carriers could be offering lower seat prices after the cabinet yesterday approved an extension of the jet fuel tax holiday. Thailand’s low-cost carriers have been slowly…
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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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Approval sought for multi-billion-baht Phuket medical hub
Industry officials are seeking the go-ahead for a project to transform over 140 rai of government land in Phuket into a world-leading medical hub. The project is budgeted at 3 – 4 billion baht, depending on which report you read. Kitkong Tantijaraswarodom, from the Federation of Thai Industries, believes the development of a medical and wellness hub in the sub-district…
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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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