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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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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Thailand launches 20 billion baht fund to support struggling SMEs
Industry Minister Akanat Prompan announced plans to establish an Industrial Reform Fund worth at least 20 billion baht (US$593 million). This initiative aims to support manufacturers, particularly small and medium-sized enterprises (SMEs), in addressing liquidity challenges and enhancing their competitiveness. SMEs are currently facing significant liquidity issues and difficulties in accessing financial resources amidst intensifying competition and rapid technological advancements,…
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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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Thai stock market leads Asia with 6% dollar gain in September
The Thai stock market has surged to become the top performer in Asia this month, recording a 6% increase in dollar terms. Foreign investors have returned as net buyers, injecting over 20 billion baht (US$595 million) into the market, driven by a combination of domestic and international factors, according to the Stock Exchange of Thailand (SET). South Korean and Chinese…
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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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Thailand urged to reform high tax rates to match global standards
Thailand’s tax system requires comprehensive integration, as its current personal and corporate income tax rates exceed international standards, stated Finance Minister Pichai Chunhavajira. During his keynote speech at the ACMA Business Forum 2024 on Shaping Tomorrow, Pichai highlighted that Thailand’s personal and corporate income tax rates are relatively high compared to competing nations. He noted that there is a global…
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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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Cathay soars again: A350 fleet back in action after fiery setback
Cathay Pacific Airways triumphantly re-launched its Airbus A350 aircraft, after a dramatic engine fire grounded the fleet and caused the cancellation of 90 flights over the past week. The fiery incident uncovered a rare issue with fuel hoses, triggering an urgent, large-scale inspection and repair operation across the airline’s A350 lineup. With 48 of these widebody jets under Cathay’s wing,…
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Noodles of growth: Mama set to stir up premium market
Thai President Foods Plc, the company behind Mama instant noodles, anticipates significant growth in the instant noodle market this year, with the premium segment potentially outperforming the overall market. Pun Paniangvait, manager of the president’s office, reported that Thailand’s instant noodle market experienced an 8% to 9% growth in the first half of this year, and the company projects a…
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Thailand rice is on the rise with global GI glamour
The Thailand Rice Department is on a mission to put Thai rice in the global spotlight by promoting its distinctive strains with certified Geographical Indication (GI) labels to a wider audience. Farming communities in Phatthalung and Trang in the south, along with Phayao in the north, have crafted premium rice products that command top prices. These farmers are betting on…
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Thailand’s economy feels the squeeze as Q3 wraps up
Thailand’s economy is under severe strain, grappling with both internal and external pressures as the end of the third quarter looms. The kingdom is fighting to stabilise its financial footing while China, a vital trading partner, wrestles with its economic troubles. The Thai baht took a hit earlier this month, mirroring the ongoing turmoil in the world’s second-largest economy. The…
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Digital TV operators sink or swim with licence deadline drama
Digital TV operators are in hot water as they face a raft of industry troubles and the looming expiry of their licences in 2029. The sector is grappling with rapidly changing viewer habits, a surge in streaming services, and nagging worries about dwindling viewership figures. Back in 2013, the National Broadcasting and Telecommunications Commission (NBTC) auctioned off 24 digital TV…
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Thai stocks hit 18-month high as baht rallies post new govt formation
Thai stocks surged to their highest levels since March last year, with the baht also experiencing a significant rally. This boost in financial markets follows the formation of the new government, sparking optimism over policy continuity. The Stock Exchange of Thailand (SET) Index rose by as much as 2.9%, driven by gains in the packaging, information and technology, and petrochemical…
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Thailand’s new transport centre boosts regional logistics hub status
Airports of Thailand Ground Aviation Services (AOTGA) anticipates that its newly inaugurated Multimodal Transportation Centre at Suvarnabhumi Airport will bolster Thailand’s position as a regional logistics hub, enhancing goods transportation among Cambodia, Laos, Myanmar, and Vietnam (CLMV). The new centre is designed to integrate various transportation modes, including land, rail, sea, and air, with the added benefit of consolidating customs…
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Thailand mandates foreign e-commerce offices under new law
Thailand will soon require foreign e-commerce operators to establish registered offices within the country, as stipulated by the new digital platform service law. The Electronic Transactions Development Agency (ETDA) announced this move following consultations with the Department of Trade Negotiations to ensure compliance with international trade agreements, according to executive director Chaichana Mitrpant. The initiative is part of broader efforts…
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Thailand mandates VAT registration for online sales platforms
The Ministry of Finance is set to integrate online sales platforms into Thailand’s tax system, following a Cabinet decision mandating these platforms to register for value-added tax (VAT). An anonymous ministry source confirmed that the Revenue Department will amend the Revenue Code in line with the Cabinet’s resolution. Online sales platforms will now be required to register for VAT in…
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Thailand levels up: Set to be Southeast Asia’s e-sports epicentre
Thailand is poised to become a leading e-sports hub in Southeast Asia, according to Riot Games, a US-based game developer. Riot Games Thailand Manager Jon Lor emphasised the strong foundation already present in the Thai gaming community. “From my perspective, it’s about building on the strong foundation we already have. We’ve seen incredible enthusiasm from the Thai gaming community, and…
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Thai content creator market valued at 45 billion baht in 2024
Tellscore Co Ltd, a Thai influencer marketing platform, has valued the local content creator market at 45 billion baht (US$1.3 billion) for this year, marking a 25 to 30% increase compared to last year. This growth is driven by surges in news, science, education, and family content. Suvita Charanwong, Chief Executive and co-founder of Tellscore, highlighted that despite Thailand’s sluggish…
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SCB predicts Bank of Thailand to lower rates by 0.25%
Siam Commercial Bank (SCB) anticipates the Bank of Thailand (BoT) will initiate a series of policy rate cuts starting later this year, potentially continuing into early next year. This move is expected to trigger a reduction in interest rates across the banking sector. SCB’s Chief Executive Kris Chantanotoke predicts the central bank’s Monetary Policy Committee will reduce the policy rate…
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Villa thrill-a: Russian buyers drive Phuket’s 2024 villa surge
Phuket’s villa market has seen a remarkable surge in the first half of 2024, surpassing the total launches for the entirety of 2023. For the first time in 15 years, the value of new villas has exceeded that of condominiums, driven primarily by robust demand from Russian buyers. Phattarachai Taweewong, director of the research department at property consultancy Colliers Thailand,…
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Turbulence ahead: Thai pilots unhappy over foreign job wet lease plan
The Thai Pilots Association expressed significant concerns regarding the potential liberalisation of pilot jobs for foreigners through wet lease agreements for domestic routes. This move, they argue, could risk another red flag from the International Civil Aviation Organization (ICAO). Several stakeholders, including the Department of Employment, the association, the Civil Aviation Authority of Thailand, and an airline that requested the…
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Temu’s impact on Thailand’s e-commerce market remains uncertain
Chinese e-commerce giant Temu‘s potential to impact the e-commerce market in Thailand and the region remains uncertain, according to market analytics firm Cube Asia. Sellers may need to brace for another price war if Temu sustains strong incentives and a low-price strategy, similar to the shifts seen with Shopee, Lazada, and TikTok Shop focusing on profitability. Simon Torring, co-founder of…
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Phuket hotels see steady service charges and rising room rates
Phuket’s hotel industry will see stable service charge income and rising room rates during the upcoming peak season, according to the Phuket Hotels Association (PHA). PHA President Bjorn Courage noted that employment levels in Phuket’s 95-member hotels have fully rebounded post-pandemic. Typically, service charges account for 10% of paid room nights and are distributed monthly among all staff members. With…
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Central Fraud Register curbs mule accounts in Thai banking sector
The banking industry has taken a significant step towards curbing financial fraud by introducing a Central Fraud Register (CFR) system, designed to facilitate data-sharing and clamp down on mule accounts. In a joint effort with the Thai Bankers’ Association (TBA), the Bank of Thailand (BoT) began implementing this system last month, targeting the prevention and eradication of financial fraud related…
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