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.
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More cuts at Thai Airways as flagship carrier continues rehab process
The chairman of the Thai Airways rehabilitation plan says the airline is making good progress with cost-cutting exercises. Piyasvasti Amranand says Thailand’s national carrier has managed to recover 44.8 billion baht by cutting its workforce and ending aircraft lease agreements. “Thai Airways’ operational performance has progressed satisfactorily in many aspects, including cost reduction and organisational restructuring.” According to a TTR…
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Central plans 500 million baht reboot for New Years festival season
After months of restrictions for shopping centres, with promotional events banned in areas with high Covid-19 infection rates, 35 Central shopping centres across Thailand are preparing for the holiday shopping season with a multimillion baht market campaign to boost sales. Central Pattana Plc is set to spend as much as 500 million baht this New Years festival season in an…
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Thailand aviation sector optimistic following November 1 re-opening
Following Thailand’s re-opening yesterday to vaccinated tourists from 63 approved countries, the aviation sector is feeling positive. According to a TTR Weekly report, Thai carriers are hopeful that the re-opening will mean they can restore their schedules to pre-pandemic levels by the end of this year. The current situation is that Thai Air Asia is operating just 10 of its…
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Crypto Adoption Increase in Asia, Thailand Ranks Among Leaders
It was reported by Chainalysis, one of the largest blockchain data research company that the crypto market has grown drastically in Asia. In just a year, the market saw a growth of 706% increase, representing 14 percent of all crypto transactions around the world. The recent report of the research company indicates that the crypto market of Central and Southern…
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Thailand’s chicken industry suffering from lack of migrant workers
Thailand, one of the world’s major producers of chicken products, is struggling to keep up with exports. Japanese food companies, one of the major importers of Thai chicken, are feeling the pinch. Like many industries, it’s a labour shortage causing many of the issues. Around the world, supply chains have been severely disrupted by the Covid pandemic and labourers have…
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Government considers tax cut for highly-skilled foreign workers
The Thai government is considering cutting the rate of personal income tax for highly-skilled foreign workers, in order to attract more talent to the kingdom. Ekniti Nitithanprapas from the Revenue Department says officials are mulling the possibility of reducing the rate to 17%. The Bangkok Post reports that the rate of personal income tax in Thailand is based on salary…
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Facebook, WhatsApp, Instagram are down as the Facebook data centre crashes
Facebook, WhatsApp and Instagram are all down on this Monday evening. Users of Facebook’s suite of social media platforms are all non-responsive as millions of users try to access their accounts. Users on mobile, desktop and tablets are all affected. Issues started around 22:44 Thai Time and are currently impacting users worldwide with the hashtag #facebookdown trending on Twitter. We’re…
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Thai AirAsia operating 20 domestic routes from this month
From this month, Thai AirAsia is resuming a number of domestic routes, as well as introducing new ones. TTR Weekly reports that the low-cost carrier is now operating flights from Bangkok’s Don Mueang Airport to Phitsanulok, Nan, Loei, Sakon Nakhon, Surat Thani, Krabi, and Trang. It will also launch a new route from Chiang Mai to Hua Hin from October…
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Consumer complaints hotline targets rip-off shopkeepers
A nationwide hotline number is now in operation to allow consumers to file complaints against shop owners who overcharge for basic necessities. Nation Thailand reports that the Commerce Ministry has launched the 1569 hotline following complaints of excessive charges for essential goods. Shopkeepers are being warned they face penalties of over 7 years’ imprisonment and/or a fine of 140,000 baht…
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Strapped for cash, Thai Airways puts 3 more aircraft up for sale
The beleaguered national carrier, Thai Airways International, is to sell 3 more aircraft in a bid to raise some much-needed funds. Also up for grabs is a flight simulator, as the airline continues with its rehabilitation plan and attempts to modernise its fleet. The Bangkok Post reports that the airline is selling 3 of its Airbus A330-300s, all of which…
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Thai government officials offered special promotional fares on Air Asia
Thai Air Asia has launched a promotional deal targeting government officials, members of the Federation of Thai Industries and the Thai Chamber of Commerce, as well as employees of state enterprises. The perks will also apply to their travel companions. The thinking behind the deal is that government officials were some of the first to be vaccinated and are not…
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Occupancy at alternative quarantine hotels takes a nosedive
Bookings at alternative quarantine hotels have plummeted, with Prin Pathanatham from AQ Club Thailand saying average occupancy is currently around 25 – 30%. It’s believed rumours the quarantine period may be reduced from next month have led to the drop in bookings, coupled with signs that infections may have peaked. And Prin says the resumption of domestic flights from dark…
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Germany’s finest engineering applied to residential properties in Pattaya
PATTAYA: A few months ago, the German architect Mario Kleff demolished two new villas on Pratumnak Hill, which he is now replacing with a new one. The villa is being built using German engineering quality, with reinforced concrete and long steel girders. Intensive construction work has been underway at the Majestic Residence, Soi 366 Kasetsin, on Pratumnak Hill since…
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Thailand’s spa operators optimistic business will pick up in last quarter
The president of the Thai Spa Association says he’s hopeful things will improve in the last quarter of the year, if the country re-opens and domestic tourism picks up. Krod Rojanastien says the industry has suffered badly under Covid-19 restrictions, with most of the 8,000 registered facilities closed and 70% – 80% of staff out of work. And, while restrictions…
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Suvarnabhumi’s ranking plummets in World’s Best Airports index
The results of this year’s World’s Best Airports awards are in, and in the last 10 years, Bangkok’s Suvarnabhumi has taken a nosedive from number 13 to 66. The awards, voted for by passengers, are run annually by UK consultancy, Skytrax. This year’s results were decided by an online survey that ran for a 12-month period between August 2020 and…
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Officials say employees are to resume work, compensated accordingly following ease on restrictions
With restrictions easing in “dark red” zones tomorrow, the Department of Labour Protection and Welfare has declared that employees can go back to work with their normal compensation, according to Thai media sources. The department has declared that employers are required to summon all employees back to work and pay them accordingly. If employees are not paid their wages, their…
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Vietjet to launch 4 direct cross-country routes from September
From next month, Vietjet will resume a number of domestic routes between Thai provinces without the need to connect in Bangkok. The carrier is promoting 4 routes for around 389 baht when taxes and other fees are factored in. According to TTR Weekly, the airline has dropped its 1pm – 3pm booking window so passengers now have more time to…
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CP boss outlines 4 ways government could speed up pandemic recovery
One of Thailand’s wealthiest businessmen has outlined 4 ways in which the government could accelerate the country’s Covid-19 recovery. The Bangkok Post reports that Dhanin Chearavanont, senior chairman of the Charoen Pokphand Group, was responding to questions from journalist Suthichai Yoon during a Facebook Live interview yesterday. According to Dhanin, the government must increase relief measures for those affected by…
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OPINION: Why restaurants are so f**ked
Article by Guest Blogger Joelle Parenteau (This article contains some strong language that may offend some people) Covid 19 is about to kill restaurants by the thousands. This pandemic is the ultimate pressure test and restaurants are failing hard. Think about it: when we come out of this, your favourite food spots might not be there any more. Why are…
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What is so important about the Sandbox?
OPINION by Bill Barnett from c9hotelworks.com Being on the ground in Phuket over the past sixteen months of the pandemic I have experienced the up’s and downs of pandemic tourism firsthand. Over the past month with the Sandbox program coming into place, we have seen over 13,000 travellers arrive at the Phuket International Airport. “What is so important about the…
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Thai AirAsia suspends flights, cuts salaries as financial woes continue
As Thailand’s airlines continue to struggle with the financial fallout from Covid-19, Thai AirAsia has suspended all flights for this month. The carrier is also cutting staff salaries or deferring partial or whole payment until September. According to a Bangkok Post report, the airline’s financial woes are worsening as low passenger numbers show no sign of improving and cash flow…
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Inside story behind the Thailand property seachange
by Bill Barnett of c9hotelworks.com For Thailand’s real estate market, Covid-19 has brought massive changes in lifestyle and ongoing pandemic fatigue is pushing many domestic buyers to shift property investment preferences in favour of resort or countryside destinations. Whether you call it Plan B, a sea change or an escape plan, one thing for certain is that change is in the…
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Locked in a construction worker camp in Bangkok – Thailand’s hidden Covid tragedy | VIDEO
Friso Poldervaart and Greg Lange, founders of the Bangkok Community Help Foundation, spoke to The Thaiger this week about the critical problems emerging in some of the worker and construction camps. Some 80,000 people – mostly Burmese, Cambodian and Thai workers – have been isolated in these shanty towns, basically imprisoned. They are guarded by Thai police and army. Some…
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Thailand international boat show coming to Phuket in 2022
Press Release Hit hard by the pandemic, Phuket is set to receive a boost in the new year when the Thailand International Boat Show will be held 6 – 9 of January 2022 at the award-winning Royal Phuket Marina. Targeting those with an interest in boating and luxury lifestyle, organisers also expect to welcome wealthy jet-setters from overseas on the…
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Machinist in Nonthaburi arrested for allegedly making, selling guns
Today, a factory machinist in Nonthaburi, a province north of Bangkok, was arrested for allegedly, illegally making, modifying, and selling guns out of a worker’s dormitory. Prajak Phoonphian, a 39 year old factory machinist was arrested early this morning after CSD police, acting on a warrant searched his dormitory at a lathe plant in the Pak Kret district in Nonthaburi.…
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Calls for factories to be moved out of residential areas after blaze at plastics plant
The Federation of Thai Industries is calling on the government to move factories away from residential neighbourhoods, following the devastating blaze in Samut Prakan, outside Bangkok. According to a Bangkok Post report, FTI chairman Supant Mongkolsuthree suggests factory owners could be given incentives to relocate, such as a reduction in corporate income tax and land tax. “Factory relocation requires support…
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Bangkok sex workers and bar staff call for monthly cash handouts
High heels were lined up on the ground and underwear was tied to a gate outside the Government House in Bangkok this morning as the city’s sex workers and other bar and nightlife staff called for monthly cash handouts. Covid-19 restrictions shut down bars and nightclubs, leaving many out of work for months. Only a group of around 20 gathered,…
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Open Pattaya’s bars! Business owners protest bans on city bars and clubs | VIDEO
The situation for many of Pattaya’s clubs and bars, the cornerstone of the city’s economy, is dire. One of the most prolific bar owners is Bryan Flowers from Nightwish Group. He wants his staff to remain employed as he sees the city’s economy and workers suffer. He is also asking the media to stop publishing raw stats and numbers each…
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