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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Sponsored Promoting sustainable tourism at Blue Tree Phuket: Initiatives and impact
Blue Tree Phuket has been offering experiences that are both fun and environmentally conscious for many years. The comprehensive entertainment hub and waterpark has implemented numerous programs to enhance the sustainability of its practices, with its most recent endeavour being...
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Beam me up Phuket – new space theme hotel for the island
A 150 key space themed hotel is under development in Kathu, Phuket, by a Singaporean group . Located close to the Central Festival and Makro complexes, the project is expected to open next year according to a report in TTG Asia. The One Pioneer – Beyond Space Travel hotel say it’s “highly focused on an outer space storyline and will have…
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25 workers injured after container explosion at Laem Chabang Port
At least 25 port workers have been injured and locals evacuated after an explosion in a container on a ship at dock at the Laem Chabang Port in Chon Buri, east of Bangkok, this morning. Laem Chabang’s port director Vice Admiral Yutthana Mokkhao says an urgent investigation is being undertaken to determine the contents of the container. The Hong Kong ship…
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IKEA Thailand launches full online store
“…it took IKEA about two years to study the market demand, develop the infrastructure, and prepare everything before launching their e-commerce service in Southeast Asia.” by Kwanchai Rungfapairsarn IKEA Thailand has announced the official launch of its IKEA Online Store as it gets set to better provide for individual customers across the Kingdom. IKEA Thailand say the seamless online shopping…
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“Very dangerous” Huawei could be part of a US-China trade deal
President Donald Trump has reiterated his complaints against China’s Huawei Technologies but conceded that they could be resolved as part of a negotiated US-China trade deal. Without providing evidence, he went on to call the Chinese telecommunications giant “very dangerous.” The US has virtually banned firms from conducting business with Huawei, the world’s largest telecom manufacturer, citing unspecified national security…
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WeWork opens up in Bangkok. What is WeWork?
“This will pave the way for WeWork’s unique proposition to connect two major groups within the WeWork community: corporations looking to innovate, and start-ups looking to grow and better establish their business.” WeWork has started operations in Thailand. So what is WeWork? WeWork – a platform for creators that provides space, community and services to help people build a life,…
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Skål International heads to Phuket, June 2020
by Paul Poole Tourism industry professionals from all over the world are expected to descend on Phuket between June 25-27, 2020, for the 49th edition of Skål Asia Congress. With more than 15,000 members in almost 90 different countries, Skål International is the world’s largest organisation of tourism professionals. Through countless local, national and international events, Skål International promotes global tourism…
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Central’s new Suvarnabhumi lifestyle centre set to open late August
PHOTO: Central Pattana Central Village, a new luxury retail outlet situated near Suvarnabhumi International Airport, is 70% finished. Wallaya Chirathivat, deputy chief executive of Central Pattana, says the new lifestyle shopping precinct is scheduled to open on August 31. Central says that retail space in Phase 2 have now opened after Phase 1 of the retail development was totally booked. They report…
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Thailand cuts rubber exports in a four month moratorium
Thailand is cutting rubber exports by 126,000 tonnes next week for a four month moratorium. This is a delay in implementing the supply cut agreement with two other regional producers, according to the Rubber Authority of Thailand. Originally it was agreed that Thailand, Malaysia and Indonesia would cut exports back on April 1, a date agreed by the International Tripartite…
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Air Asia resumes flights from Phuket to Jakarta
AirAsia Indonesia says they will resume direct flights between Phuket and Jakarta on the second of July this year. Flights will be available three times a week. For AirAsia, the move marks a return of the route which had been flown for a number of years in the past. “Currently the traveling trend continues to increase especially in the youth market, hence…
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Export growth expected to be the lowest in four years
Export growth for Thailand this year is is now being pegged at less that 1%, the lowest growth in four years. Mr. Ath Pisarnwanich, director of the International Trade Study Centre at the University of Thai Chambers of Commerce is saying the low growth is a result of both the escalating US-China trade war and the Vietnam-EU free trade agreement. The…
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Thailand slashes 2019 exports estimates as trade war escalates
by Phuwit Limviphuwat Thai exporters are expected to pay a heavy price as the ramping up of the US-China trade war continues. The US has now launched a new round of tariffs on Chinese imports. Last Friday US President Donald Trump tweeted: “Talks with China continue in a very congenial manner, there is absolutely no need to rush, as Tariffs…
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Ultimate parties at The Bay and Beach Club, Patong
Newly built and super stylish, The Bay and Beach Club is the hottest addition to the island’s most favorite resort neighborhood of Patong. Elegant and luxurious with a modern design and spacious rooms, the resort sets the benchmark for beachfront accommodation in Phuket. With a convenient location right on the sands of Patong Beach, a holiday spent at The Bay…
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Prayut tentatively embraces China’s Belt and Road strategy for Thailand
Thai PM’s appearance at the second Belt and Road Initiative forum in Beijing last weekend suggests the luke-warm relations between China and Thailand persist. Whilst both nations portray a strong willingness to progress in their financial partnerships there is still a gulf between the two country’s preferred outcomes in the deals they are forging. Last time Beijing snubbed the Thai…
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Chinese continue to soak up Thailand’s condo glut
There are man reasons why Thailand is a favourite location for property buyers from Hong Kong and mainland China – the street food and great weather are just a part of the allure. Chinese nationals spent a record 40 billion baht (US$1.25 billion) on Thai properties in 2018, according to the Bank of Thailand. So who is buying Thailand’s condominiums?…
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Thai property startup FazWaz heads overseas
FazWaz, the Phuket startup that has built a tech-first platform to take on Thailand’s real estate giants, is announcing its overseas expansion today. The move underscores just how far and fast the company has moved since being founded in 2015 in the small beach town of Kamala in Phuket. While real estate markets go up and down, FazWaz has definitely…
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Thai business sector drops 2019 export projections by 1%
The Thai Chamber of Commerce and Board of Trade are revising down Thailand’s 2019 export growth projections from 3.1% to 2.1%. They say several unfavorable external factors are contributing to the revised outlook. Thai PBS reports that Mr. Sanan Aung-ubonkul, vice president of TCC and BoT, says that, in order to maintain the 3.1% growth projection, the value of monthly…
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Strong growth from key markets compensate for slight dip in Chinese tourists
by Thanchanok Phobut | Senior Coordinator, Thailand CBRE, international property consultants, believe that the Thai tourism market is still as resilient as ever. Earlier this year, the Ministry of Tourism and Sports announced they are expecting more than 40 million tourists to visit Thailand this year, up from the record-breaking 38.3 million last year. According to the latest figures, the…
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Buyback Option at VIP KATA Condominium by Phuket9
Phuket9 Company announces a buy-back option for VIP KATA Condominium Project with a rental return of 56% over 8 years. The first two buildings of VIP KATA Condominium were launched in July 2018. After one month in August 2018, Phuket9 commenced construction of the second phase – 2 more buildings including 209 apartments, 2 common swimming pools, rooftop gardens, restaurants and a kids club.…
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Ministry pulls travel cash incentive scheme
Easy come, easy go. The Finance Ministry has scrapped the plan to subsidise Thai’s travel expenses to the tune of 1,500 cash per person. The program was aimed at up to 10 million people for travel in any of the 55 second-tier tourist provinces, part of a scheme to promote domestic tourism outside the well-trodden tourist traps. But the ministry…
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World Bank downgrades Thailand’s 2019 GDP growth to 3.8%
The World Bank is downgrading Thailand’s growth projections to 3.8% from 3.9% for 2019. This compares to last year’s 4.1% GDP. The Bank says that export growth has shrunk to 5.7% from last year’s 5.9%. The World Bank’s senior economist for Thailand, Mr. Kiatpong Ariyapratya, says that the Word Bank also projects that Thailand’s growth rate for next year would…
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Phuket hotel watch – trends in 2019
by Bill Barnett of C9Hotelworks.com At the beginning of the year Phuket’s tourism and hotel sector was cautiously optimistic after a strong first half of 2018 and humbling second half. Key terms that kept popping up were Mainland Chinese, Thai Baht Appreciation, Elections and Supply Concerns. So today, with five months of performance under the belt in 2019 what are…
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‘Seastead’ set up off coast of Phuket
PHOTOS: Nation TV A Thai couple has successfully set up a ‘Seastead’ near Phuket. Seasteading is aiming to build floating societies with “significant political autonomy”. Nearly half the world’s surface is unclaimed by any nation-state, and many coastal nations can legislate “seasteads” in their territorial waters (like a “homestead” but wetter). The nation TV reports that website ‘Bitcoin.com’ and ‘Ocean.builders’…
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Massive 11 hotel project, surf club and waterpark for Kata, Phuket
by Bill Barnett, C9Hotelworks.com Thai developer K.W. Plaza group has unveiled plans for a large-scale mixed-use project called The Beach Plaza on 15 rai, that will have 11 three and four star hotels with a total of 1.490 rooms. The developer is already pitching the unconstructed project to global hotel interests for an imminent sale. The properties will have varying room…
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Thai Air Asia introduces Chiang Rai-Shenzhen route
Thai AirAsia is adding new flights to its Chiang Rai hub with a new direct route to China that starts on April 30. The new daily direct flight from Chiang Rai to Shenzhen (adjacent to Hong Kong) is being promoted this week with fares as low as 735 baht one-way. Bookings opened this week and the promotional fare remains the…
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Losing face: ‘Face Off’ Dr Xeping charged with fraud
PHOTO: Bangkok Post Beauty expert Xeping Chaiyasan has been charged with fraud but continues to deny any wrongdoing claiming the allegation has been brought against her by people with malicious intent. Xeping is known as “Dr Xeping”, although she is not a medical doctor, became famous for the so-called Face Off cosmetic surgery services she promoted. Her arrest, along with…
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Forecasts for Thai export growth revised upwards
The meeting of the Joint Standing Committee on Commerce, Industry and Banking has revised upwards its forecast of export growth in 2019 to between 6.5 – 7.5% from the previous forecast of between 3.5 – 4.5%. The revision is in line with export growth in the past eight months, the committee said. Growth momentum is expected to continue during the…
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Thai businesses feeling pinch from china-US trade wars
Since the US China trade war kicked off in the middle of 2018, Thai businesses have begun to feel the pinch as indicated by a small downward trend in Thai export numbers. In the short run, some Thai export items may benefit from trade diversion as US and Chinese importers shifted to certain Thai products to avoid punitive tariffs. However, indirect…
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Hospitals train staff to recoup money from non-paying foreigners
“…many foreigners sought treatment for ailments or injuries at public hospitals and many failed to fully pay the bills, resulting in multi-million baht in debt.” The Public Health Ministry’s Department of Health Service Support has provided training to public hospitals in tourist provinces to help them collect fees from foreigners, director-general Dr Nattawuth Prasertsiripong said yesterday. The move is aimed at…
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Thailand ‘slightly impacted’ from a no deal Brexit
The EU has agreed to postpone Brexit from next Friday and give UK PM Theresa May time to get her deal approved in Parliament. The PM had hoped to persuade the EU to delay the March 29 Brexit date, set in law, to June 30. But the EU country leaders have offered her two dates… A delay until May 22…
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Doubt over ‘majority support’ in survey about drilling near Si Thep historical park
Locals are up in arms about results from a public hearing into oil drilling project near the Si Thep historical park in Phetchabun province (just north of Bangkok). They are expressing doubt and concern over results of a public hearing that appear to show support for the project. Thai PBS reports that Mr. Prachuab Narkthien, chairman of the club of…
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