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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Revamped Jungceylon Shopping Center unveils a refreshed look with new immersive concepts
Jungceylon, one of Phuket’s largest malls, is set to unveil its new look following an asset enhancement initiative (AEI) to reposition the mall as "The Oasis of Shopping in Patong" – a one-stop destination offering fresh and immersive concepts in...
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Rock Thailand, Japanese start-ups eye Thai businesses
Noting Thailand as the new south east Asian regional innovation hub, the Japanese Embassy in Bangkok, in collaboration with Thailand’s Ministry of Digital Economy and Society, CP Group and True Corporation, launched Rock Thailand, a start-up incubation project. Rock Thailand is being used to open a stage for 10 top technology start-ups from Japan to present their business models to…
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King Power’s duty free monopoly under review
King Power Duty Free’s monopoly of duty free concessions at some of Thailand’s busiest airports may be coming to an end. The Thai PM has warned against the “monopolisation” of the country’s airport duty free sector ordering a review of the auctioning process that could threaten the multi-billion-dollar empire of current concession holder King Power. Thailand expects to welcome over…
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Bangkok now in the Top 10 list for most expensive Asian locations for expats
Bangkok has, for the first time, made it into the list of Asia’s top 10 most expensive locations for expats. A rise in average rental prices this year caused by an influx of expats from China and an increase in tourism traffic have hit expats and put the city in 10th place on the annual list, with an average US$3,880…
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Almaty Governor from Kazakhstan visits Phuket
PHOTO: Almaty Governor Mr Batalov Amandyk Gabbasovich presents Phuket’s Governor with an ideal gift The Governor of Almaty city in Kazakhstan dropped in on Phuket’s Governor today for discussions on tourism, investment and culture exchange as a new Sister City. This morning Phuket’s Governor Phakkaphong Tavipatana welcomed Almaty Governor Mr Batalov Amandyk Gabbasovich from Kazakhstan at the Phuket Provincial City…
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Thai Smile opens new Bangkok-Kolkata route
Jumping on the tourism bandwagon between India and Thailand, Thai Smile Airways has announced a new route from Bangkok to Kolkata, starting from March 31. The airline will operate five flights a week (Tuesday, Thursday, Friday, Saturday and Sunday) from Suvarnabhumi Airport in Bangkok to Kolkata, East India. The airline says the new route is “in line with its business…
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Top 5 Phuket (and Thailand) hotel trends for 2019
by Bill Barnett Moving through high season in 2019, hoteliers are starting to look for strategies for the rest of the year in order to not be reliant only on volatile mass markets. The following is C9 Hotelworks read on key trends for the year. Pressure On Demand – Good Hotels Perform, Others Left Out Diving into the numbers, the reality is that…
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Phuket hotels under pressure to perform
by Bill Barnett C9 Hotelworks Despite registering a record high 9 million passenger arrivals at the island’s gateway international airport in 2018, performance data is indicating that a slowdown in its double-digit growth rates over the past few years is on the horizon for Thailand’s resort destination of Phuket. While airport arrivals grew 8% year-on-year, the gains posted were at…
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Bangkok Airways spending 3 billion on new planes, airports
PHOTO: A Bangkok Airways ATR 72-600 dwarfed by a Thai Airways ‘jumbo’ Bangkok Airways is putting aside 3 billion baht to finance two new aircraft to support their growing passenger numbers. The local airline is forecasting a 3% growth in bums-on-seats this year to over 6 million passengers. The airline’s CEO says they hope to purchase two new ATR 72-600…
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Thai Airways says it will stick to ‘rehabilitation plan’ despite 11.6 billion baht loss in 2018
It hasn’t been a good week for Thai Airways as the national airline continues to fly passengers to their original destinations days after flights were cancelled and rescheduled due to Pakistan airspace closures. Even yesterday Thai Airways was reporting a backlog of up to 2,000 passengers they were hoping to clear before the end of this weekend. Meanwhile, it emerged…
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Go-Jek begins services in Thailand, challenging Grab
Indonesia’s Go-Jek ride-hailing service has now started up in Thailand under the banner ‘GET’. Nadiem Makarim, the founder and CEO says they will continue to move into the regional market currently dominated by Grab. Go-Jek, Indonesian for motorbike taxis (sort of), has launched in Thailand as ‘GET’ and will concurrently build presence in The Philippines through a recent financial-tech acquisition. The launch…
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Huawei continues investing in Thailand
PHOTO: Huawei president for SE Asia, James Wu during media conference at MWC 2019 in Barcelona, Spain. by Somluck Srimalee, The Nation Chinese tech giant Huawei Group has set aside an investment budget of US$81 million (2.5 billion baht) for Southeast Asia towards ICT enablement from 2019-21, focusing on OpenLabs, enabling cloud developers and cultivating ICT talent, James Wu, said.…
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Strong baht a concern for Thai hotel sector
by Bill Barnett Thailand’s baht performance against Asian currencies in 2018, was unmatched, with the exception of the Japanese yen. Commenting on the trend financial news Bloomberg have highlighted that in 2019, a further 4% in growth this year have it sitting at the top of the table. Oddly, one of the underlying factors stimulating the baht’s appreciation is the…
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Scrapped: Back to the drawing board for Suvarnabhumi Terminal 2 design
It’s back to the drawing board for the AoT and the new Terminal 2 project at Suvarnabhumi Airport. The contract to design the much needed second terminal has been the subject of a lot of bitter criticism in the Thai architectural community. The board of Airports of Thailand Public Company, the operator of Suvarnabhumi international and five other major airports…
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Thai exports fall 5.7 percent in January, year-on-year
Thai export results have dipped for the third straight month, falling more than 5.65% compared to a year earlier. The fall was a lot bigger than expected, according to the Thai commerce ministry. Shipments contracted 1.72% in December, compared to a year earlier as well. January’s export drop was due to falling shipments of rice, gold, electronics and cars, according to the…
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Thailand’s sponsorship market grew 19% – 2018
ASN (Asia Sponsorship News) has just released its Sponsorship Market Overview for Thailand 2018. Local agencies have had their say on the performance of the Southeast Asian sponsorship marketplace. 2018 was a robust year for Thailand’s Sponsorship market, growing 19% year-on-year to US$223.4 million (2017’s total investment was US$188.2 million) and making grounds on reaching its previous (outlier) market peak of…
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Man arrested over 50 million baht scam
A man has been arrested for allegedly defrauding around 100 stock market investors of about 50 million baht. Pol Lt Gen Suchate Hakparn, the Immigration Bureau chief who also heads the economic crime centre, says 52 year old Jittaraphon Nisarat was arrested on Tuesday at his apartment in Bangkok’s Phra Khanong district. Surachate says Jittaraphon was arrested under a warrant…
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Anti graft body raises concerns about contract bidding at Suvarnabhumi
“The private anti-graft watchdog called on Thai media and the public to keep a close watch on the conduct of the company calling for bids.” The Anti-Corruption Organisation of Thailand is expressing concerns over alleged lack of transparency in two major contracts under review at Suvarnabhumi Airport. In a statement issued yesterday, the private anti-graft watchdog called on Thai media…
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Airbus scales back in the UK and invests more in Thailand’s new aviation maintenance hub
by Supalak Ganjanakhundee Uncertainty over Thailand’s political situation is apparently less of a concern for Airbus than the political uncertainties in the UK with Brexit looming. Whilst Airbus is pulling out some of its manufacturing in Britain, the European consortium is now looking to Thailand for new maintenance and repair facilities to help service the rapidly growing ASEAN aviation sector.…
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Co-working space – not just for start-ups
PHOTO: HUBBA-TO co-working space in Bangkok by Thanchanok Phobut | Senior Coordinator, CBRE Thailand CBRE, an international property consultancy company, reveals that co-working space seems to be on the tip of everyone’s tongue these days. There was a time when no-one knew what the term “serviced office” meant or why someone would want such an option. But today, you can’t…
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Thailand’s property market surges with Chinese confidence remaining high
Chinese investors are still spending big in Thailand’s property market. The country’s ‘teflon’ tourist reputation and uncertain national election outcomes are doing little subdue investor enthusiasm. Two coups in a decade have done little to cool enthusiasm in Thai property. Tourists from Asia’s top economy continue to recognise Thailand as a top spot for holidays, and investment. According to data Chinese real…
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AoT defers final decision about new BKK airport terminal until February 20
PHOTO: Rendering of the new proposed Terminal for Suvarnabhumi Airports of Thailand has set a deadline of February 20 to decide whether it will go ahead with the construction of the much-needed second terminal at Suvarnabhumi Airport, the country’s largest and busiest airport. The 42 billion baht project has been embroiled in controversy amid criticism from organisations including the Council…
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Invacio Research Analytica takes aim at equivocator’s in politics
ADVERTISING Invacio Research Analytics Thailand, a group subsidiary of Invacio founded by William J D West and led by Linleeya West (Thai – Swiss Educated), have just launched a multi-agent AI-driven analysis system that is designed to clean up politics and expose deceptive practices and statements in video presentations and interviews. https://www.youtube.com/watch?v=bxSxcJ_PsY4&feature=youtu.be Invacio, as a company, is intent on providing…
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Bangkok to Los Angeles in just over 5 hours. The second supersonic revolution.
PHOTOS: boomsupersonic.com When the world’s first supersonic passenger jets took to the skies (in December 1968 – The Russian TU-144, followed not long after by Concorde in March 1969) the two aircraft had been designed with slide rulers and tested in rudimentary wind tunnels. The age of computer design and digital bench testing was a generation away. Still, the feat…
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Reflections #2 – Thailand Tourism Forum – ‘Chindia Tourism’
‘CHINDIAN’ Tourists – Same Same or Different? by Wimintra Raj – hotelintel.co If you’re running a hotel or any business related to the local tourism industry in Thailand, this is an article you need to read, then read again. It was just one of the many presentations at the annual Thailand Tourism Forum held in Bangkok recently. “For the third…
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Pattaya faces a condo oversupply
Last year, Pattaya saw 10,239 condominium units launched with a combined worth of 55 billion bHT (USD1.7 billion), a huge jump from JUST 2,192 units in 2017. Phattarachai Taweewong, the Senior Manager of Collier’s research department, told Bangkok Post that a large portion of the homes remain unsold due to the massive supply last year, The research department’s research showed that…
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Thailand’s marine industry unites around single yacht show
The fourth Thailand Yacht Show & RendezVous has now wrapped up with many of the exhibitors praising the new format and noting the sales and contacts made during the four day marine exhibition. The exhibit was held between January 10-13 at the Royal Phuket Marina. Leading international yacht dealers, brokerage houses, charter agencies and marine suppliers were there to showcase…
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Avengers theme park closes in Bangkok after only 7 months
Usually anything to do with the Avengers is a license to print money. But not in the case of Southeast Asia’s first Marvel Entertainment theme park. The park, constructed at the Mega Bangna Shopping Centre in south-east Bangkok, is going out of business after just seven months. Despite the fanfare when it opened in June 2018, the themed attraction didn’t…
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Some restrictions lifted for superyachts in the region
PHOTO: katarocks.com Thailand is poised to ease rules on bareboat charters as well as introducing new measures to attract more luxury and super yachts into the region. The new measures were laid out in a presentation called “Highlighting Strategies for Attracting Yachts and Improving Safety at Sea” held at the 2019 Thailand Yacht Show and Rendezvous in Phuket. Gordon Fernandes,…
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Company rolls out new computers for Chiang Mai school
Top executives from Thailand property development company Boutique Corporation recently visited the Intanon Wittaya School in Chiang Mai and presented them with ten desktop computers to the school. Inthanon Wittaya School is located in Amphur Mae Jam, 111.2 kilometers from Chiang Mai, with 192 kindergarten and primary school students. The school offers a computer class but only had 11 computers…
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BOI approves new rail services, new port investment
PHOTO: Duangjai Asawachintachit, BOI secretary general The Board of Investment of Thailand (BOI) has laid out strategies to boost the development of rail services and the country’s cruise tourism. Duangjai Asawachintachit, BOI secretary general, says the latest BOI meeting chaired by the Prime Minister had resolved to instigate measures to attract investment in rail development and related infrastructure for continued…
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