Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
To keep up with the most recent business news in Thailand, subscribe to our newsletter and follow us on social media.
-
Sponsored
Top 6 reasons you should send your kids to an American-Style summer camp in Thailand
It’s the end of June, and that means kids in Thailand are on a long summer holiday! If you’re looking for a fun yet educational activity for your kids to pass summer break, sending them to iCamp Thailand, the first...
-
Pheu Thai Party’s digital handout scheme could boost Thailand’s GDP by 3%
The Pheu Thai Party‘s proposed digital handout scheme, requiring around 500 billion baht, could potentially boost Thailand’s GDP growth by 3% in the next year, according to the Bank of Thailand. Sakkapop Panyanukul, the central bank‘s director of the economic and policy department, mentioned the digital handout contribution depends on the economic multiplier. The 3% GDP projection uses a cash…
-
Power play: FTI cheers new government’s energy cost pledge
The Federation of Thai Industries (FTI) expressed its satisfaction with the newly elected government’s commitment to lowering energy costs and retail diesel prices. Newly inaugurated Prime Minister Srettha Thavisin has prioritised energy price reductions as an early objective of his administration. An immediate cut in energy prices has been promised by the 61 year old Srettha and his Cabinet upon…
-
Rice and shine: Thailand sets sights on 8 million tonnes export mark
The director-general of the Department of Foreign Trade, Ronnarong Phoolpipat, announced that Thailand’s rice exports are expected to achieve the target of 8 million tonnes this year. This forecast comes after the recorded shipments through to August 29 reached 5.29 million tonnes, reflecting a year-on-year increase of 11.9%. This upswing in rice exports aligns with the rising concerns over drought…
-
ATTA doubts efficacy of free visa plan for Chinese tourists
The Association of Thai Travel Agents (ATTA) has expressed scepticism about a government proposal to offer free visas to Chinese tourists as a means of stimulating demand. ATTA cites economic difficulties and a weak currency as challenges that could render this initiative ineffectual, particularly in the face of flight and staff shortages. The Federation of Thai Tourism Associations and the…
-
Grain gain: Thailand’s rice exports sprout an impressive 12% surge
The Commerce Ministry reported a significant increase in Thailand’s rice exports. Data reveals an 11.91% rise in exports from January to August 29, compared to the same duration last year. During this period, Thailand managed to export a hefty 5.29 million metric tonnes of rice. Despite the impressive rice export figures, the agricultural sector in Southeast Asia has been grappling…
-
Premium privilege: Thailand Elite Card set to increase membership fee by 50%”
Thailand Privilege Card Co (TPC), operator of the Thailand Elite Card, announced plans to increase its base membership price by 50%, raising it from 600,000 baht to 900,000 baht. The move is part of the company’s strategy to boost its annual revenue to 8 billion baht. In addition, the company will be introducing four new types of cards, all of…
-
NBTC developing nationwide streaming platform for digital TV by 2025
The National Broadcasting and Telecommunications Commission (NBTC) is set to develop a nationwide streaming platform, aiming to streamline all real-time streaming content from existing digital TV channels. The platform is anticipated to be fully operational by 2025, aligning with the NBTC’s online migration plan and catering to the increasing number of online content consumers. This initiative is also expected to…
-
Thai government considers utility tokens to boost digital wallet initiative
The Pheu Thai-led government is anticipated to roll out utility tokens to bolster its digital wallet initiative, a move pending approval from the Bank of Thailand as the regulator currently bans using tokens as payment, according to Asia Plus Securities (ASPS). The financial services company projects that the government will issue Type 1 utility tokens, each valued at 10,000 baht,…
-
Thailand’s PM plans to boost tourism revenue to US$100 billion by easing visa rules
Thailand Prime Minister Srettha Thavisin has proposed a plan to boost tourism revenue to nearly US$100 billion next year. This involves loosening visa regulations for travellers from China and India and extending the duration of stay for tourists from all nations. Chinese travellers, who accounted for the most significant proportion of visitors pre-Covid-19, have been subjected to a taxing visa…
-
Online impostors scam public with high-profile personas as digital deception thrives
Members of the public are being targeted by fraudsters posing as high-profile business figures as online scams continue to run rife. Authorities warned potential investors to exercise caution and authenticate any investment links or messages they receive, following a spike in scam cases. The Digital Economy and Society (DES) Ministry identified common traits among scammers, most notably the promise of…
-
CKP and BEM partner for Thailand’s first solar-powered mass transit rail
CK Power Plc (CKP) Bangkok Expressway and Metro Plc (BEM) have forged a partnership to bring the first solar-powered mass transit rail systems to Thailand. The collaboration aims to utilise solar energy to power the MRT Chalerm Ratchamonkol Line (MRT Blue Line) and the MRT Chalong Ratchadham Line (MRT Purple Line) which, combined, span over 71 kilometres and have 54…
-
Thai tourism faces strain from sluggish Chinese, Japanese economies
Tourism operators in Thailand are facing significant challenges due to the sluggish economies of China and Japan and an uneven recovery in Thai tourism that benefits larger operators. A recent survey by the Thai Hotels Association (THA) and the Bank of Thailand revealed that 29% of three-star or lower-rated hotels have been severely impacted by interest rate hikes and may…
-
Sand and smiles: Nearly 18 million tourists make waves in Thailand this year
With the close of this year on the horizon, Thailand’s Tourism and Sports Ministry reported that almost 18 million overseas tourists have laid a beach towel in the Land of Smiles. Thailand, which heavily leans on tourism as a significant economic pillar, is setting its sights on welcoming around 28 million visitors by the end of the year. The statistics…
-
Phuket’s international convention centre supported by new PM
Phuket’s stalled international convention centre project might see new life with Prime Minister Srettha Thavisin‘s promise to revisit it for local economic stimulation. During a recent visit to Phuket and Phangnga, PM Srettha engaged local tourism representatives, acknowledging their suggestions. Thaneth Tantipiriyakij, President of the Phuket Tourist Association, is confident the prime minister and Pheu Thai Tourism committee will seriously…
-
Thailand’s Q2 economic recovery slows, full-year 2023 growth forecast revised
Thailand’s second quarter of 2023 saw a slowdown in economic recovery, with GDP growth falling from 2.6% year-on-year in the first quarter to 1.8%, as reported by the National Economic and Social Development Council on August 21. The figures fell significantly short of consensus estimates of 3.1% and growth projections of 2.9%. The economy’s quarter-on-quarter growth was a mere 0.2%,…
-
Thailand’s household debt soars as auto loans and cooperative debts spike
The secretary-general of the National Economic and Social Development Council (NESDC) issued a warning over the steady increase in Thailand‘s household debt. The critical areas requiring stringent monitoring were identified as auto loans and debt originating from savings cooperatives. During a press conference outlining the nation’s social outlook for the second quarter of 2023, Danucha Pichayanan revealed that household debt…
-
Liquid dreams: Thailand’s Pilatus Marine charts global growth with 1.05 billion baht vessel acquisition
Pilatus Marine, a SET-listed company and Thailand’s leading liquefied petroleum gas (LPG) transport operator, is set to acquire three large used liquid-carrying vessels for a total cost of 1.05 billion baht. This move is aimed at expanding their services overseas. Operating in both marine and land transport of LPG, Pilatus Marine also leases vessels to other companies. The incoming ships,…
-
Thai AirAsia targets 40% domestic market share by 2023, plans Japan expansion
Thai AirAsia, a leading low-cost airline, has set a goal to command 40% of the passenger market share domestically by the close of 2023. This comes as the airline intends to introduce two additional routes in Japan in the upcoming year. In a revealing disclosure, Santisuk Klongchaiya, the Chief Executive of Thai AirAsia, mentioned that the airline’s market share in…
-
Siriraj Hospital partners with Cariva to bolster Thailand’s medical AI ecosystem
Siriraj Hospital‘s Faculty of Medicine, under Mahidol University, is partnering with local artificial intelligence (AI) start-up, Cariva (Thailand), to utilise AI technology in enhancing medical treatment and developing innovative medical products and services. This collaboration is aimed at solidifying Thailand’s reputation as a medical hub and facilitating the export of AI-driven healthcare innovations to the Asia-Pacific region. Dr Apichat Asavamongkolkul,…
-
Thai exports suffer 10th month of decline amid global economic challenges
In July, Thai exports decreased more than anticipated for the 10th successive month. The drop is primarily due to a decline in global commodity prices since their peak in the early months of the Russia-Ukraine conflict last year. High interest rates and stringent lending conditions, compounded by weak global demand, have led to a slowdown in consumer spending, explained Keerati…
-
GAC to invest 6bn baht in Thai EV and battery factories
Guangzhou Automobile Corporation (GAC), China’s second-largest electric vehicle (EV) seller, is set to invest 6 billion baht in the construction of EV and battery factories in Thailand over the next three to five years. The move will transform the country into a key production and export base for the firm. Ocean Ma, who oversees the company’s subsidiaries, Aion Automobile Manufacturing…
-
Pheu Thai leadership welcomed by tourism operators
The Pheu Thai political party’s potential leadership of the Tourism and Sports Ministry has been warmly welcomed by tourism operators. This development arises from growing speculation around the formation of the new Cabinet. Numerous news outlets suggest that the ministry might transition from the Bhumjaithai Party to Pheu Thai. Adith Chairattananon, the honorary secretary-general of the Association of Thai Travel…
-
Tech sector recovery drives global stock market surge despite China concerns
Tuesday saw global stock markets rise due to strong tech recovery, despite worries about China’s slow economy and US rate uncertainty. Nvidia’s shares increased by 8.5% on Monday, boosting trading in Asia and Europe. In New York, Nvidia’s shares went up by 2.5% before its second-quarter report today, Wednesday. At the beginning of trading, Nasdaq focused on technology and rose…
-
Thai economic recovery slower than expected, Bank of Thailand governor confirms
Economic recovery in Thailand is underway but progress is slower than anticipated, particularly in the areas of tourism and exports, according to Sethaput Suthiwartnarueput, governor of the Bank of Thailand (BoT). In a recent business seminar, Sethaput expressed concerns over a less-than-rosy picture of the nation’s economy, with exports and tourism spending falling short of expectations. Despite these challenges, he…
-
Meta Thailand leverages AI for enhanced ROI and growth of reels
In an economic climate that continues to pose challenges, Meta Thailand is leveraging artificial intelligence (AI) to enhance the return on investment for businesses and advertisers. The company is also concentrating on the development of Reels, their short video clip service that serves as a competitor to TikTok. Prae Dumrongmongcolgul, the country director for Meta in Thailand, said… “We plan…
-
Domestic tourism in Thailand hits 93% recovery
Thailand’s domestic tourism sector has seen a significant recovery, reaching 93% of its pre Covid-19 levels, according to the Tourism Authority of Thailand (TAT). The TAT expects to record approximately 160 million domestic trips in the country this year, a sharp contrast to the dismal figures witnessed at the onset of the pandemic in 2019. At a press conference, Suladda…
-
CardX braces for regulatory change raising customer debt repayment 3%
CardX, a credit card service provider operating under SCB X Group, anticipates a potential issue with customer compliance linked to an upcoming regulatory change from the Bank of Thailand. The central bank presently permits credit card users to repay their debt at a minimum rate of 5% of the overall credit balance each month, a measure introduced to aid consumers…
-
Political change, Thai PM appointment poised to boost stocks
The anticipated appointment of Thailand‘s 30th prime minister this week is predicted to bolster stocks likely to benefit from political change and the policies and stimulus measures proposed by the Pheu Thai Party, reported Bangkok Post. Brokerage firm Asia Plus Securities (ASPS) projects the 11-party coalition, which declared on Monday its possession of 314 MP seats, will secure enough senatorial…
-
Thailand’s DES Ministry plans legal action against Facebook over scam complicity
Thailand’s Digital Economy and Society (DES) Ministry is preparing a legal case seeking the shutdown of Facebook within the country, accusing the social media giant of collusion with fraudulent operators. The ministry alleges that Facebook has been complicit in aiding scammers, who utilised the platform’s sponsored pages to deceive Thai citizens into making investments. The ministry plans to invoke the…
-
Climate change: Thai businesses warned of ‘global boiling,’ rising power costs
The United Nations has warned of the global boiling – the intense rise in temperatures and associated power costs we are seeing now, which are predicted to only worsen in the future. Thailand witnessed an unprecedented rise in electricity bills and an all-time high average temperature in July. This salient shift in weather patterns is leading businesses and governments to consider…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.