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 Infinito helps hotels in Thailand with revenue management
Maximising revenue and profit–isn’t that the ultimate goal for every business in the hospitality industry? If you run a hotel, you might have heard that revenue management is an effective way to boost your top-line revenue. It involves using data...
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BioThai Foundation says companies growing hemp commercially will create monopoly:
“…as of now, only official agencies are allowed to grow hemp in the tribe-development zones in Chiang Mai, Chiang Rai, Nan, Tak, Mae Hong Son and Phetchabun provinces.” The Thai government’s plan to let privately-owned companies grow hemp commercially is progressing as part of a three year trial. But, BioThai Foundation says that giving specific companies the right to plant hemp…
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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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Thai banks on 156 billion baht spending spree for recovery
“He hoped the airline could be profitable again in mid-2020.” Thai Airways International is seeking cabinet approval to buy or lease 38 new planes at an estimated cost of 156 billion baht. In the proposal 31 planes will be acquired over the next five years. Thai Airways president Sumeth Damrongchaitham says the proposal would reach Deputy PM Somkid Jatusripitak this…
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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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How the bike-share start-ups fell over
They were awful to ride and were the result of an even more toxic start-up culture in China. A few years ago the bike-sharing craze hit the tourist island of Phuket. It arrived amongst much flourish and ceremony. A year later the bike-sharing company bailed out. It was the same in many targeted tourist zones around the world. At the…
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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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Transport Ministry and State Railways told to pay HK company 11.9 billion baht
The long running issue of Bangkok’s ‘stonehenge’ has been resolved after the Supreme Administrative Court handed down its findings today over the disputed contract of the 60 kilometre link from central Bangkok to Don Mueang Airport. The Thai Ministry of Transport and the State Railway of Thailand have been dealt a costly blow after the Supreme Administrative Court today overturned…
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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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Boeing reveals another software problem in 737 MAX jets
US jet manufacturer Boeing says it has found a new but “relatively minor” software error in its 737 MAX jet models. The aircraft’s anti-stalling system, the MCAS, is already being investigated as the possible cause of two deadly crashes. In both cases all passengers and crew died when the Boeing 737 MAX model jets fell out of the sky after…
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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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Hermès opens its first store in Phuket at Central Floresta
Hermès has opened of its first store in Phuket at Central Floresta, the newly opened lifestyle shopping destination in the heart of the island, opposite Central Festival. As Hermès’ first venture outside the Thai capital, the new Hermès Phuket store makes a significant statement of expansion and confidence in the market. The new address in this world-renowned island will allow the…
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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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People have short memories. Why the Boeing 737 MAX will survive the current crisis.
If history is anything to go on people’s current fears about the Boeing 737 MAX jets will be short-lived. The make0ver of the venerable 737 plane, the most popular passenger jet in history, was supposed to set Boeing on a path to success. Airlines said it was the plane they wanted – perfect for short-haul, cheap to run, new efficient…
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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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Honda projects lower motorcycle sales for 2019
Honda Motor Company, the manufacturer of nearly 80% of Thailand’s motorcycles, is projecting another annual loss this year. New motorcycle sales this year are forecast to drop nearly 4% year on year to 1.72 million units. The forecast is unchanged from its January projection. The baht’s appreciation against the US dollar is leading to fluctuations in exports and lower prices…
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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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