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.
-
Sponsored Living on a budget in Thailand? Here’s how to stay healthy without breaking the bank
Thailand is a popular place for people who want to enjoy a good life at a lower cost or even on a budget. Many expats, retirees, and digital nomads choose to live here because daily expenses are cheaper than in...
-
Thai exports set for boost from cars, electronics and agriculture
With a forecasted lethargic overall performance in 2023, Thai exports are set to be propelled by automobiles, auto parts, electronics, and agricultural products in the concluding quarter of this year, according to the Federation of Thai Industries (FTI). The FTI anticipates a rising global demand for these products, which should invigorate Thai exports that have been sluggish for several months.…
-
Thailand’s economy set to grow despite potential export decline
A prominent joint business group announced today that Thailand’s economy is set to grow by 2.5% to 3.0% this year, a prediction consistent with their previous forecast. This anticipated growth is attributed to government support measures and the tourism industry. However, the Joint Standing Committee on Commerce, Industry, and Banking (JSCCIB), which represents these sectors, warned of a potential decline…
-
Thai MPI faces contraction amid global conflicts and tourism slump
The Office of Industrial Economics (OIE) anticipates a contraction between 4% to 4.5% in the Thai Manufacturing Production Index (MPI) this year due to less-than-projected tourism growth and geopolitical conflicts impacting the global economy. In contrast, the MPI was projected to shrink by 2.8% to 3.8% in July. The OIE further predicts a contraction of 2.5% to 3% in the…
-
Cabinet’s gasohol price cut draws scrutiny despite public approval
The recent resolution by the Cabinet to trim the prices of gasohol 91 and 95 by a single baht per litre has prompted queries from energy experts and firms, despite the public’s eager acceptance of this cost-of-living alteration. This determination was reached following Bangchak Corporation, a crucial oil retailer, increasing the prices of the majority of gasohol types, an amalgamation…
-
Thai economy’s Q3 bounce-back: Warming up after a cool Q2
The Thai economy’s growth rate for the third quarter of this year is anticipated to surpass that of the second, according to the Bank of Thailand. This forecast comes after the nation’s economic expansion fell short of the central bank’s estimations for the preceding quarter. Chayawadee Chai-anant, the assistant governor for the corporate relations group at the central bank, reported…
-
Thai tourists’ Korea travel ban outcry impacts agencies amid visa woes
Following a surge in posts under the hashtag #BanTravelToSouthKorea (#แบนเที่ยวเกาหลี) on the Twitter (X) platform, tourism agencies are being urged to pay heed to the concerns of Thai tourists. Over a million posts were generated during the past weekend alone, highlighting the losses suffered by both tourists and tour operators in recent years. The Korea Tourism Organisation (KTO) reported that…
-
Thai baht hits six-week high ahead of Federal Reserve meeting
The Thai baht reached a six-week high against the US dollar yesterday morning, trading at 35.86. Analysts predict further appreciation if the Federal Reserve does not provide clear indications regarding United States interest rate trends at its upcoming meeting. As Head of Research at Kasikorn Research Centre, Kanjana Chockpisansin observed that the baht’s quick appreciation from 36.50 to the US…
-
Thai EV stocks to soar with renewed government support measures
Electric vehicle (EV) and battery manufacturing-related stocks are predicted to gain from the upcoming renewal of EV support measures by the government next year, according to Asia Plus Securities (ASPS). The EV Policy Committee will convene today, with new support measures for electric cars and pickups being anticipated. These measures are expected to adjust the subsidy to fall between 50,000…
-
Sugar prices clampdown: Thai Government enforces caps amid production cost hike
The Thai government yesterday resolved to regulate sugar prices to lessen the burden on the public. The Minister of Commerce, Phumtham Wechayachai, expressed confidence that the move will not cause controversy with Brazil. Following the weekly cabinet session, Phumtham disclosed that the government had decided to set a limit on the ex-factory prices for granulated sugar at 19 baht per…
-
LiuGong Machinery’s blueprint: Constructing a new chapter across Asia-Pacific
LiuGong Machinery, a Chinese construction machinery manufacturer, unveiled plans to establish three new factories and three machine assembly facilities in the Asia-Pacific region. The company is still in the process of deciding on the specific countries for these new developments, with Thailand being one of the potential locations. The commencement of these projects is anticipated for the following year, according…
-
Edtech collaboration: Hong Kong and Thailand unite to enhance education
Hong Kong extended an open invitation to Thailand to engage in a meaningful Edtech collaboration aimed at advancing educational technology in both regions. This is to enhance student learning and facilitate teachers in crafting personalised lessons and promoting active classroom engagement. The EdTech collaboration was discussed during the Edtech Month Summit 2023 held recently in Hong Kong. The summit centred around…
-
Thailand’s population ages like fine wine, marking a global trend
The global ageing population has seen a swift rise in the past three decades, with two-thirds of individuals over 60 residing in developing Asian countries. As of 2021, Thailand has officially become a fully aged society, with a fifth of its population aged 60 or above, as per World Health Organisation and UN data. By 2031, Thailand is projected to…
-
Thai DUI products face stricter controls amid global conflicts
The Foreign Trade Department, under Thailand’s Commerce Ministry, announced its plans to tighten control measures over goods linked to weapons of mass destruction (WMD) and dual-use items (DUI). The Thai DUI products refer to goods that can serve both commercial and military applications. The decision, formulated in response to escalating global conflicts, aims to bolster international trust in Thai products.…
-
Phuket: Proposal to extend nightlife venues operating hours to promote tourism
The proposal to extend the operating hours of nightlife venues in Phuket for a trial period of three months has been put forward by local tourism operators. Phuket Tourist Association president Thaneth Tantipiriyakij stated that the move to extend nightlife venue hours could potentially increase tourism revenue by an estimated 30%. The extension of hours would cater to the influx of…
-
YouTrip sets sights on Southeast Asian expansion
Southeast Asian fintech giant YouTrip is gearing up for regional expansion, backed by a successful funding round that raised US$50 million (1.84 billion baht). The round witnessed participation from new investors, including global venture capital firm Lightspeed. This Singapore-based multi-currency digital payments platform has managed to amass over US$100 million (3.68 billion baht) in funding since its inception. The newly…
-
Thai tourism bodies urge government to rebuild confidence with Chinese tourists
The Association of Thai Travel Agents (ATTA) and the Tourism Council of Thailand (TCT) called on the government to restore confidence in Chinese tourists via mainland tour agents, emphasising that this approach can guarantee tourist safety. TCT president, Chamnan Srisawat, suggested that the government should exercise caution before deciding on a permanent exemption from visas for the Chinese market. The…
-
BAAC organises Japan trip to boost Thai farmers’ global market competitiveness
The Bank for Agriculture and Agricultural Cooperatives (BAAC), led by its president, Chatchai Sirilai, has organised an overseas business study trip to Fukuoka, Japan, from October 20 to October 24. The initiative aimed to aid small-scale Thai farmers and farming businesses by enhancing their business efficiency and competitiveness in the global market. The trip provided an opportunity for knowledge exchange…
-
Lazada Thailand boosts logistics sector with sorting facility
Lazada Thailand has set the stage for fierce competition in the local logistics sector by investing heavily in a state-of-the-art sorting facility, its largest investment in Southeast Asia. This move anticipates a boom in the e-commerce market, predicted to hit US$32 billion by 2025. Simultaneously, Kerry Express is increasing its logistics operations’ accuracy and efficiency by integrating automation technology and…
-
Scrapping immigration forms may boost Malaysian tourist influx in Thailand
Tourism professionals in Songkhla have voiced their desire for the discontinuation of the TM6 immigration paperwork as an additional border checkpoint and the eradication of extra-time service charges, as these measures continue to slow the influx of tourists from Malaysia. The government gave its approval this week to scrap the TM6 forms from November 1 to April 30, 2024, at…
-
The Mall Group plans to extend opening hours to promote Thailand tourism
Thailand Mall Group Co-chairwoman Supaluck Umpujh proposed a novel strategy to invigorate the nation’s economy by attracting a greater influx of foreign tourists. She insists that the government’s ongoing efforts to enhance the tourism sector are moving in the right direction but advocates for the introduction of special incentives to stimulate investments in artificial tourist attractions across the nation. Supaluck also…
-
MQDC’s Well Living Expo: Building a sustainable future one home at a time with a 30-year warranty
Leading real estate developer MQDC hailed the success of its MQDC Well Living Expo at Siam Paragon, which took place from October 12 to 15. The expo stressed the importance of holistic homes and a 30-year warranty towards achieving a sustainable quality of life, in line with MQDC’s For All Well-Being mission. Chief Operating Officer of MQDC, Assada Kaeokhiao, said…
-
Thai banks see 0.71% loan growth as SMEs and households struggle
Thailand’s top six banks reported a meagre loan growth of 0.71% in the first three quarters of 2023, as compared to the same period in 2022. This slowdown is primarily due to reduced loan uptake by small and medium-sized businesses (SMEs) and an increase in household debt. The six banks—Bangkok Bank (BBL), Kasikornbank (KBank), Krungthai Bank (KTB), Siam Commercial Bank…
-
BGRIM’s solar sonata: Renewable energy giant strikes the right chord in Italy
BGRIM, a leading player in the renewable energy sector, has launched a new project for a solar power plant in Italy. The Ortanova project involves the development of an 80.9-megawatt ground solar energy system, complete with a tracking system. This initiative is in response to the growing global demand for clean energy. The undertaking is steered by RES Co Sicilia…
-
Thailand’s business travel bounce-back: TCEB predicts 2024 revival, 2019 return by 2025-26
The Thailand Convention and Exhibition Bureau (TCEB) forecasts a business travel sector revival by 2024, with 23.2 million travellers expected. However, it predicts a business travel return to the pre-pandemic levels of 2019 only by 2025 or 2026 due to global economic unpredictability. TCEB’s president, Chiruit Isarangkun Na Ayuthaya, revealed that their business travel revival strategy will focus on stimulating…
-
Thai beauty giants Srichand and Karmarts paint the world with global expansion plans
Srichand United Dispensary Co and Karmarts Plc, two Thai beauty corporations, are preparing for global expansion. Srichand’s Chief Executive, Rawit Hanutsaha, disclosed plans for aggressive international growth, particularly in Indonesia due to its large beauty market and population. The firm is in the process of identifying suitable Indonesian distributors and is also considering Malaysia. Srichand has already established a global…
-
SET forecasted to dip amid US bond yield uncertainty
The Stock Exchange of Thailand (SET) index, which dipped below 1,400 points last Friday, is anticipated to continue its downward trajectory this week, potentially hitting 1,330 to 1,350 points, as per market analysts’ predictions. Factors contributing to this trend include fluctuating US bond yields and uncertainties in global factors. Wikij Tirawannarat, a senior executive at Bualuang Securities, pointed out that…
-
Thai Cabinet fuels up for savings: Gasohol 91 prices set to drop
The Thai Cabinet today gave initial approval for a 2.5 baht per litre reduction in the price of gasohol 91 for three months, likely to start from October 31, as stated by the Thailand Energy Minister. Thailand Energy Minister Pirapan Salirathavibhaga confirmed that this price cut would be facilitated by a 2.5 baht per litre reduction in excise tax, a method…
-
Asia’s crypto craze: Bitcoin’s impressive ascent fuels ETF hopes
The cryptocurrency market witnessed a notable surge in Asia, with Bitcoin reaching a near 18-month high. The climb in value today, October 24, by over 6% to US$35,198, is the highest recorded since May 2022 and is the result of speculation around the potential launch of a Bitcoin exchange-traded fund (ETF). Monday, October 23, saw Bitcoin’s best session in almost…
-
Thai government’s policy paradox: Digital wallet scheme and minimum wage hike under fire
The Thai government of Prime Minister Srettha Thavisin has faced significant challenges since coming to power seven weeks ago, with various commitments made during their campaign now under scrutiny. A crucial task includes the repatriation of Thai citizens affected by the Middle East conflict and the ongoing Israel-Hamas unrest. The Thai government’s promise to hike the daily minimum wage to…
-
High demand for SAF production expected by Bangchak in 2025
Bangchak Corporation, a leading energy conglomerate listed on the Stock Exchange of Thailand (SET), anticipates a significant demand for Sustainable Aviation Fuel (SAF) production once it enters the market next year. The prediction comes as awareness about the environmental impact of traditional jet fuel increases among companies. Chaiwat Kovavisarach, Bangchak’s Group Chief Executive, revealed they had received a very warm welcome…
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.