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 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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Thailand to revive 300-baht tourism tax to boost revenue
Tourism Minister Sorawong Thienthong reignited plans for a 300-baht tourism tax, which was put on ice by former Prime Minister Srettha Thavisin. The move is set to help rake in a whopping 3 trillion baht in tourism revenue this year. Sorawong, who stepped into his role yesterday, September 16, believes the tax will be a game-changer for the industry. “This…
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Thai business leaders grill PM Paetongtarn on economic rescue
Thai business leaders and economic gurus are turning up the heat on Prime Minister Paetongtarn Shinawatra, urging immediate and long-term strategies to avert an economic catastrophe. Top of their list? Comprehensive debt restructuring, help for the low-income earners, and bolstering small and medium-sized enterprises (SMEs) against the foreign online trading juggernauts. In a dramatic parliamentary session yesterday, September 15, the…
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WHAUP to invest 2.3bn baht in renewable energy projects
WHA Utilities and Power (WHAUP), a subsidiary of Thailand’s largest industrial land developer WHA Corp, is set to invest 2.3 billion baht to bolster its operations and meet the rising demand for water and renewable energy in Thailand and Vietnam. A significant portion of this budget will be directed towards expanding renewable energy, aiming to achieve an electricity generation capacity…
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Political payout: Listed companies to rake in the baht
Listed companies across a swath of sectors are set to cash in big, thanks to the Pheu Thai-led administration’s progressive new policies, Bualuang Securities (BLS) revealed. The brokerage is urging investors to zoom in on mid-cap stocks, particularly in retail, consumer goods, food, finance, construction, transport, tourism, and healthcare. The launch of Vayupak Fund units has already sent the Stock…
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Cluck’s up: Texas Chicken to fly the coop in Thailand after 9 years
In a shock announcement, Texas Chicken has revealed that it will be shuttering all its outlets in Thailand by the end of this month, ending a nine-year run that has left fans of the crispy treat crestfallen. The bombshell was dropped on their official Facebook page, and there was no explanation for the abrupt exit. “It’s time to say goodbye…
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Thailand’s ‘Wellness on a Plate’ campaign serves up health benefits
The Tourism Authority of Thailand (TAT) is cooking up something special! In a bold move, the TAT has launched a dazzling new campaign titled Wellness on a Plate, spotlighting the health perks of Thailand’s eclectic culinary delights. Aiming to marry the nation’s rich food culture with wellness tourism, this initiative promises a feast for both the senses and the soul.…
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Thai-riffic tech boom: Chinese software firms set sights on Thailand
Chinese software companies are increasingly setting their sights on Thailand, recognising it as a key market for digital growth. Many of these firms, mostly small and medium-sized enterprises (SMEs), started by providing cloud-based solutions to Chinese online merchants in Thailand. Their offerings include sales order management, inventory control, and accounting software. In a sign of the times, Chinese food delivery…
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Thailand’s tourism shake-up: Private sector dives into man-made marvels
Thailand is gearing up to revamp its tourism scene with a fresh array of man-made attractions, and the private sector is already jumping on board. The government is drawing up plans for entertainment complexes that will include legal casinos, marking a bold new direction for the country’s tourism strategy. Private firms are keen to get in on the action. Asset…
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Emirates takes luxury to new heights with fragrance collaboration
Emirates is soaring to new heights, unveiling its latest luxury enhancement—a first-of-its-kind partnership with Irish organic beauty brand VOYA. Launching aboard First and Business Class, Emirates teamed up with VOYA to create bespoke Eau de Toilette fragrances, marking a new chapter in its premium travel experience. With sophistication and understated luxury at its core, this exclusive range is VOYA’s first-ever…
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ETDA plugs in: Powering up Thailand’s digital economy for 2024
Thailand’s Electronic Transactions Development Agency (ETDA) unveiled plans to further its role as a co-creation regulator and promoter next year, aiming to boost the digital economy’s value and generate positive social impact. The ETDA intends to enhance the nation’s digital infrastructure, focusing on promoting e-document management, improving governance of digital platform services, and leveraging artificial intelligence (AI) for good governance…
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Thai Finance Ministry enhances data use for economic growth
The Ministry of Finance is advancing its data utilisation efforts to develop comprehensive profiles of Thai citizens’ liabilities and assets, aiming to bolster economic development. Permanent Secretary Lavaron Sangsnit revealed that creating a data lake will enable the government to craft improved national development policies and identify regional strengths and weaknesses. This system will consolidate diverse information about citizens, including…
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Grab Thailand launches new cash loans for partner merchants
Grab Thailand announced a revamped portfolio of cash loans aimed at its partner merchants, offering three distinct loan products to cater to businesses of all sizes. The new offerings include loan amounts up to 10 million baht with interest rates capped at 1% per month for larger businesses. The initiative aims to boost working capital, enhance liquidity, and support entrepreneurs…
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Macro worries: Thai consumers feel the crunch, says PwC survey
Thai consumers are increasingly concerned about the impact of macroeconomic volatility on the country’s economic outlook, with 54% expressing significant worry, according to PricewaterhouseCoopers’ (PwC) latest survey. This prompted a shift towards spending more on essential goods. Social media has emerged as the preferred shopping channel, despite ongoing concerns about personal data leakage. The Voice of the Consumer Survey 2024:…
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Bullion on the rise: Gold takes centre stage amidst Fed rate cut
Gold prices surged over 1% to hit a record high today, driven by the anticipation of an impending interest rate cut by the Federal Reserve following signs of a slowing US economy. In early trading in New York, spot gold increased by 1.6%, reaching US$2,551.19 per ounce. Concurrently, US gold futures rose by 1.4%, settling at US$2,578.90. Thai gold selling…
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Thailand’s economy to see 2.5% growth in 2024, EIC forecasts
Thailand is projected to experience a soft economic landing next year, according to the Siam Commercial Bank’s Economic Intelligence Centre (SCB EIC). The research centre has maintained its 2024 economic growth forecast for Thailand at 2.5% but has downgraded its 2025 outlook to 2.6%, down from previous forecasts of 2.9 to 3%. EIC chief economist Somprawin Manprasert explained that the downward…
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Thai rice prices fall in a grainy twist as Indonesian bids drop
Thai rice prices plunged to their lowest levels in over a year as Indonesian bidders were compelled to lower their high prices in a recent auction. Meanwhile, Indian rice export prices continued their downward trend, reaching an eight-month low. Indian 5% broken parboiled rice was priced at US$534 (around 17,000 baht) per tonne this week, marking the lowest level since…
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Langham’s latest hotel to transform Bangkok’s Customs House
Langham Hospitality Group is set to turn heads in Bangkok with its latest luxury venture, The Langham, Customs House, Bangkok. Set in the vibrant Bang Rak district, this glamorous new hotel will breathe new life into the city’s iconic Customs House, perched along the Chao Phraya River. At the heart of this project is the magnificent 1888-built Customs House, a…
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Mid-priced hotels in Thailand struggle amid price-sensitive tourists
Hotels in the mid-priced and budget segments in Thailand faced significant challenges in maintaining room and occupancy rates in August, as tourists remained sensitive to prices. Thienprasit Chaiyapatranun, President of the Thai Hotels Association (THA), reported that while the average occupancy rate for hotels nationwide improved to 61.8% from 58.4% year-on-year, it still fell short of the pre-pandemic rate of…
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New law to regulate Thailand oil and gas prices nears approval
A draft law aimed at empowering energy officials to regulate domestic oil and cooking gas prices is advancing towards parliamentary approval. This legislation could become a significant energy policy under the emerging Paetongtarn Shinawatra government. Energy Minister Pirapan Salirathavibhaga highlighted yesterday, September 11, that the bill should be reviewed by legislators before the year’s end. Pirapan championed this policy since…
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Thailand to regulate foreign e-commerce, new rules for COD services
The Ministry of Digital Economy and Society (DES) is set to collaborate with various agencies to regulate foreign e-commerce platforms, according to minister Prasert Jantararuangthong. These platforms are leveraging local infrastructure and the domestic market without contributing back to the country, Prasert stated yesterday, September 11. Prasert, who also serves as a Deputy Prime Minister in the new Cabinet, mentioned…
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Japan sees record tourist arrivals, Thai visitors surge
Tourist arrivals to Japan have surged to record levels, with over three million visitors per month from March to July this year. Despite the sweltering heat in July, Japan attracted 3.29 million tourists, marking a 41.9% year-on-year increase, as reported by the Japan National Tourism Organisation. Among these visitors, Thai tourists ranked fifth, with 671,810 arrivals. Japan has been a…
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Pattaya gears up for 61st OSEAL Lions Forum this November
The Pattaya Area Sponsorship Procurement Committee convened an important meeting yesterday at the Chanyut and Friends Law Office, situated at the Pattaya Central Red Light Intersection. The gathering was presided over by Chanyut Hengtrakul, the former Secretary to the Minister of Education, who now leads the committee. Discussions centred around the upcoming 61st Orient and Southeast Asian Lions Forum (OSEAL)…
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Thai supermarket Big C to launch four new branches
Big C Supercenter Plc, one of Thailand’s biggest supermarket and convenience store chains, is set to expand with the launch of four additional branches by the end of 2025. Company Chief Executive and President Aswin Techajareonvikul announced plans to renovate 18 existing stores and open one new store this year, with a total investment of 5 billion baht. “Moreover, the…
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Thailand’s delivery and ride-hailing GMV hits US$5bn in H1 2024
Thailand’s online food delivery and ride-hailing services saw a significant rise in gross merchandise value (GMV) in the first half of 2024, reaching US$5 billion (approximately 168 billion baht), as reported by India-based Redseer Strategy Consultants. Both sectors are anticipated to maintain double-digit growth from 2023 to 2028, propelled by robust demand among digital consumers and an increasing number of…
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Software sector grows 12.8%, hits 215 billion baht
The software sector experienced a robust growth of 12.8% last year, reaching a valuation of 215 billion baht (US$6.4 billion), outperforming three other digital sectors. Investment in advanced technologies such as artificial intelligence (AI), data analytics, cloud computing, and cybersecurity bolstered this growth, according to a joint survey by the Digital Economy Promotion Agency (Depa) and IMC Institute. The software…
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Red Lobster Thailand’s endless shrimp deal led to bankruptcy woes
Red Lobster’s Ultimate Endless Shrimp promotion, offering unlimited shrimp for US$20 (around 670 baht), became a permanent menu item last year, leading to a surge in customer traffic at the chain’s nearly 700 restaurants. Diners flocked to Red Lobster, indulging in various shrimp dishes like Parrot Isle Jumbo Coconut Shrimp, Walt’s Favorite, Garlic Shrimp Scampi, Shrimp Linguini Alfredo, and Grilled…
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Thailand’s 400-baht wage hike alarms small hotel owners
Hoteliers in Thailand express concern that raising the daily minimum wage to 400 baht exclusively for large employers could disrupt the job market in the hotel sector. This pay disparity may attract workers to larger hotels, leaving smaller establishments struggling to retain staff. With Thailand’s tourism industry yet to fully rebound, industry leaders urge the government to focus on reducing…
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Exploring new trends in gold trading for enhanced profitability
Gold has been a highly valued commodity for centuries thanks to its rarity, beauty, and many practical uses. In recent decades, gold trading has become particularly lucrative due to market volatility and rising gold prices. However, the gold market is constantly evolving with new products, regulations, and technologies. Staying up-to-date with the latest gold trading trends is essential for traders…
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Baht volatility surpasses regional currencies amid US rate cut speculation
The baht has shown notable volatility against the US dollar, surpassing its regional counterparts primarily due to market expectations of a US policy rate cut and Thailand’s substantial gold imports. Year-to-date, the baht’s volatility rate is 7.3%, just below the Korean won’s 7.4%. However, it exceeds other regional currencies, with the Malaysian ringgit and Indonesian rupiah at 5.5%, the Philippine…
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Thailand champions game-changing tax scheme for low earners
Finance Permanent Secretary Lavaron Sangsnit has thrown his weight behind the daring negative income tax (NIT) scheme, championing welfare payments for workers when their income dips below a certain threshold. Dubbed “workfare,” this initiative is geared to incentivise employment while offering crucial financial support. Lavaron made his case clear: the NIT system encourages people to stay employed by guaranteeing state…
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