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 Limited-time deal: Save 20% on Cigna's expat health plans forever
Starting a new life abroad is exciting—new culture, new lifestyle, and new chances to grow. But living far from home also means taking steps to protect your health in unfamiliar surroundings. Without the right coverage, even small health issues can...
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Thai community enterprise signs 100 million baht deal for Korat’s Golden Bananas export to Japan
A landmark deal worth 100 million baht has been signed between a Japanese buyer and a Thai community enterprise group for the purchase of 5,000 tonnes of Korat’s Golden Bananas. This first-ever export deal, set to greatly benefit local farmers, has been hailed for its potential to open new markets for Thai growers. The contract was signed at the Lamtakong…
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Thailand leaps in digital competitiveness ranking, claims 35th spot globally
Thailand has made significant strides in its digital competitiveness, jumping five spots from the previous year to rank 35th out of 64 economic territories. This progress is revealed in the World Digital Competitiveness Ranking (WDCR) 2023, published by the International Institute for Management Development (IMD). The uplift in ranking is a result of advancements in three pivotal areas: technology, knowledge,…
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Singapore and Zurich rank as world’s most expensive cities in 2023
The Economist Intelligence Unit (EIU) recently revealed that Singapore and Zurich share the title of the world’s most expensive city in 2023. Following closely are Geneva, New York, and Hong Kong, maintaining that the worldwide cost-of-living crisis is yet unresolved. The research and analysis division of the Economist Group observed that prices for over 200 frequently utilised goods and services…
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Thai organisations face frequent cyberattacks, study reveals
A recent study conducted by Cloudflare, a US-based firm specialising in content delivery, networking, and cloud cybersecurity, disclosed that 57% of Thai organisations have been targeted by at least 10 cybersecurity incidents in the past year. The findings revealed that the primary motivation for these cybercriminal activities was to install spyware, followed by financial gain and ransomware. Interestingly, despite the…
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Thailand’s export sector sees recovery with third month of growth
The Director-General of the Fiscal Policy Office, Pornchai Thiraveja, announced that the export sector is showing signs of recovery, marking its third month of consecutive growth. Despite a year-on-year contraction of 2.7% in the value of exports between January and October, monthly figures indicate a resurgence, with an 8% rise in October to US$23.5 billion. Quarterly analysis shows a decrease…
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TAT forecasts surge of Chinese tourists into Thailand via land in 2023
The Tourism Authority of Thailand (TAT) predicts that over 300,000 Chinese tourists are expected to cross into Thailand overland next year. This surge is due to the China-Laos railway, contributing to visitor numbers, especially in the northeast’s second-tier cities. Chuwit Sirivejkul, TAT’s regional marketing director for East Asia, indicated that around 70,000 to 100,000 Chinese tourists, 2% to 3% of…
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Thailand’s shrimp exports forecasted to surge by 10% next year
A 10% surge in Thailand’s shrimp exports is on the horizon for the upcoming year, brought about by a minor uptick in local shrimp production and bolstered demand primarily from the United States. Thai Shrimp Association President Ekapoj Yodpinit disclosed that shrimp production in Thailand this year mirrored the previous year’s figure of 280,000 tonnes. Meanwhile, the country’s shrimp exports…
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Thai auto market anticipates price war as Chinese EVs flood in
The Thai auto market is bracing for a potential price war as the influx of affordable electric vehicles (EVs), mainly from China, threatens the traditional dominance of internal combustion engine (ICE) vehicles. Over the next few years, the competition is set to escalate as two to three Chinese automakers plan to roll out their EVs in Thailand, capitalising on the…
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Thai businesses may face wage pressure after state officials’ salary increase
The Thai Chamber of Commerce predicts a potential ripple effect on businesses, following the Cabinet’s decision to approve a 10% salary increase for state officials. The chairman of the chamber, Sanan Angubolkul, anticipates that this move may compel businesses to raise their wages to attract skilled employees. The salary increase for new state employees will result in a monthly income…
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No evidence of naked short selling in Thai stock market, says ASCO
The Stock Exchange of Thailand (SET) and the Association of Securities Companies (ASCO) confirmed that there is no occurrence of naked short selling within the Thai exchange. This comes amidst the Securities and Exchange Commission’s (SEC) request for ASCO members to align their short-sell guidelines with those of the SEC. Pichet Sithi-Amnuai, ASCO president, revealed that regular inspections of short…
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Flight cancellations: Chinese airlines slash 40% of slots amid Thai tourism slowdown
The Civil Aviation Authority of Thailand (CAAT) witnessed a substantial number of flight slot cancellations by Chinese airlines, accounting for over 40% of total cancellations across Thailand’s airports. The CAAT director, Suttipong Kongpool, highlighted that such cancellations are not unusual and are often a result of fluctuating travel demand. Airline companies frequently resort to such measures in order to maintain…
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True Corporation spearheads AI utilisation for automation
True Corporation, led by Deputy Chief Executive Sharad Mehrotra, is positioning itself at the forefront of artificial intelligence (AI) utilisation with ambitious plans for widespread automation and paperless operations. The company’s recent hybrid conference, AI Gets Good, highlighted the critical need for an integrated approach that blends technology, people, and ethics. Accenture research indicates that language-based AI could augment around 40%…
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Doubts over Thai target of 8.2 million Chinese visitors in 2024
Analysts have expressed doubts over the Tourism Authority of Thailand’s (TAT) ambitious target of attracting 8.2 million Chinese visitors next year. This comes as predictions for overall foreign arrivals next year have been downscaled, amidst concerns over a sluggish global economy. Kasem Prunratanamala, who leads research at CGS-CIMB Securities in Thailand, stated that while the firm has kept its estimation…
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Thai Airways takes a smile: Reinstates nine cool-season routes for domestic delight
Thai Airways International reinstated nine domestic routes for the cool season, previously provided by its former affiliate, Thai Smile Airways. The services, which will run until March 30, utilise the Airbus A320 planes from the airline’s former subsidiary, Thai Smile. The re-established routes offer daily flights from Bangkok to nine destinations – Chiang Mai, Chiang Rai, Hat Yai, Khon Kaen,…
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Thailand and Malaysia enhance bilateral relations to boost border trade and tourism
A significant agreement was recently reached between the leaders of Thailand and Malaysia to bolster their bilateral relations, with a specific focus on enhancing border trade and tourism. The Thai Prime Minister, Srettha Thavisin, and his Malaysian counterpart, Anwar Ibrahim, agreed upon this during their working visit at the newly inaugurated Sadao customs checkpoint in Songkhla. Their meeting, which took…
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Job-jitters in Thailand: Employment growth hits five-quarter low
The state planning agency of Thailand revealed today that the country’s employment growth has slowed to a five-quarter low of 1.3% year-on-year in the third quarter amid a sluggish economy and weak demand for exports. This comes as Southeast Asia’s second-largest economy recorded a meagre growth of 1.5% in the July-September period, marking the slowest pace witnessed this year. The…
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Visa-free travel policies boost global tourism and economy
Countries worldwide are recognising the importance of travel freedom in bolstering their economies and accelerating the recovery post-pandemic. As tourism and trade flourish without border restrictions, governments are implementing strategies to enhance their tourism competitiveness, such as visa-free travel policies and the digitalisation of pre-travel processes. Prominent countries like China and India, with their vast populations, are primary targets for…
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Thai and Malaysian PMs to boost border trade and tourism
A meeting slated for tomorrow between Thai Prime Minister Srettha Thavisin and Malaysian Prime Minister Anwar Ibrahim in Songkhla province is expected to tackle initiatives aimed at enhancing Thai-Malaysian border trade and tourism. A source revealed that the agenda includes a proposal from Thai tourism businesses to grant Tor Mor 6 immigration clearance form exemptions to Malaysian visitors at five…
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10 trading strategies you must explore for a stable flow of finance
An investment strategy represents a set of principles that guide investment decisions. There are different trading plans that you can follow depending on your choice, risk tolerance, access to capital, and ability to reach your long-term financial goal. When you are trading in financial markets, you will come across popular trading options. You can find your success using one strategy to…
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Gold prices could hit US$2,015 per ounce in near future, says GTA
The Gold Traders Association (GTA) projected a potential rise in gold prices, possibly hitting US$2,015 (71,535 baht) per ounce in the near future. However, this trend may be interspersed with periods of market volatility. Yesterday morning, spot gold saw an increase of 0.4% to US$1,997.39, spurred by a dip in the US dollar and a fall in the benchmark US…
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Thai car exports surge 12.2% in October despite domestic sales slump
Thai car exports witnessed a 12.2% surge in October, reaching 105,726 units, thanks to the escalating demand for pickups primarily in the Middle East. However, domestic sales didn’t keep pace, suffering from the burden of high household debt. The Federation of Thai Industries (FTI)’s Automotive Industry Club reported robust sales in other markets last month, including Australia, Europe, North America,…
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Chinese tourists still prefer Thailand despite visa exemptions
Despite increasing competition from countries offering visa exemptions to Chinese tourists, Thailand’s tourism industry remains secure due to its dominant market share and increased expenditure per trip, according to the country’s Tourism and Sports Ministry. Countries such as Kazakhstan, Maldives and Sri Lanka have started offering visa exemptions for Chinese tourists, yet Thailand continues to be the preferred destination, said…
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Thai economy in crisis: Government seeks foreign investment and tackles debt
The economy in Thailand is in crisis and needs some significant stimulation, according to the nation’s Prime Minister Srettha Thavisin, who also acts as the Thai Finance Minister. The nation’s reliance on tourism has been heavily impacted by lower-than-expected foreign arrivals, resulting in a need to prioritise foreign investment and tackle household debt. The 61 year old prime minister made…
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Former TAT governor urges government to boost Chinese visitor numbers
The former Tourism Authority of Thailand (TAT) governor urged the government to reconsider its tourism strategy to improve the dwindling Chinese market. Predictions for this year suggest that arrivals from China will only total 26.8% of the 2019 level. Former TAT governor Yuthasak Supasorn suggested that the government should negotiate with China to secure more flight routes and slots for Thai…
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Thailand and Sri Lanka set to finalise free trade agreement by year’s end
Thailand and Sri Lanka are on track to finalise a bilateral free trade agreement (FTA) by the close of this year. The chief of trade negotiations has indicated that the signing of the agreement is expected by early February next year. Chotima Iemsawasdikul, the director-general of the Trade Negotiations Department, disclosed that Thai and Sri Lankan officials are set to…
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Thai stock market hit by short selling amid falling figures
Speculation on short selling and naked short sales has been linked with causing havoc in the Thai stock market today, as retail investors attribute the continuous market decline to these practices. The Stock Exchange of Thailand (SET) has taken a hit this year with a drop of 14.9% as of November 20 and a decrease in market capitalisation from 3.2…
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Thailand’s smart electronics and IT sectors set for growth with EV production
The Office of Industrial Economics (OIE) anticipates a significant surge in Thailand’s smart electronics, and IT sectors in the forthcoming year. The trigger for this expected growth is the commencement of production by global electric vehicle (EV) manufacturers within the country. The assembly of EVs is heavily reliant on electronics and IT products, hence the increased demand in these sectors,…
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Spa-demic resilience: Thailand’s wellness sector unaffected by global downturn says MSpa
Minor Hotels’ spa and wellness arm, MSpa International, declared that the current global economic downturn and geopolitical conflicts will not impact high-spending guests in Thailand’s wellness sector. The company’s group director, Sandie Johannessen, stated emphatically that the nation’s wellness centres continue to attract enthusiastic visitors for leisure trips and retreats, despite the global situation. Johannessen also pointed towards the affluent…
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Central Pattana Plc launches Black Friday 2023 #shocksales
Black Friday 2023 #shocksales is set to be launched by Central Pattana Plc, an entity responsible for the operation of 38 malls across the country and The Esplanade. Spanning three days, the major shopping extravaganza provides shoppers with numerous promotional opportunities mirroring the Black Friday sales in the United States, a customary retail period that follows Thanksgiving and marks the…
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Thai stock exchange investigates potential naked short selling offences
A specialised committee has been established by the Stock Exchange of Thailand (SET), designed to delve into the issue of naked short selling. The team will comprise representatives from the Korea Exchange and Nasdaq stock exchange in the US, brought in to aid Thai regulators in their investigation into potential offences. The committee’s work is slated to commence imminently, as…
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