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.
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Sponsored 12Go introduces Japan Rail Passes to enhance travel accessibility for international travellers
For those who have travelled throughout Thailand, 12Go is a well-known provider of various trips, though the platform itself has a much wider reach. Ranging from buses to planes, 12Go is undoubtedly a leading booking platform for travel throughout the...
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Godfather of artificial intelligence quits Google, warns of technology’s dangers
A prominent computer scientist, frequently referred to as “the godfather of artificial intelligence,” has resigned from Google to voice his concerns about the potential dangers of the technology, according to yesterday’s US media reports. Geoffrey Hinton, known for creating a foundational technology for AI systems, expressed to The New York Times that advancements in the field could pose “profound risks…
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Top 5 nationalities investing in Thailand in Q1
Foreigners invested 33 billion baht into Thailand in the first quarter of the year, a government spokesperson revealed today. Investors from Japan invested the most, followed by investors from Singapore and the USA, respectively. A spokesperson for the Prime Minister’s Office and Deputy Secretary-General to the Prime Minister Anucha Burapachaisri revealed that the government approved investment from 174 foreign investors…
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Lululemon to open store in Thailand this July
Canadian athletic apparel, accessories, and footwear brand lululemon athletica will open a store in CentralWorld in Bangkok this July. It will be the brand’s first store in Thailand. The brand did not give an exact date in July for the store’s opening on CentralWorld’s first floor opposite H&M Home – joining the mall’s newly-opened American burger joint Shake Shack. Lululemon…
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Bangkok’s luxury condo market is booming
Bangkok’s luxury condo scene is booming with rent at some high-end condominiums now hitting 100,000 baht per month, reports BangkokBizNews. Sanchai Khu-Ekachai, Director and Head of Research and Consulting at Knight Frank Thailand Co., Ltd. said… “The condo market began to recover because of demand from foreigners affected by the Russia – Ukraine war, especially condos in Bangkok. Russian tourists stimulated…
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Grab Thailand relaunches premium services with ‘The Ultimate 5 Senses Experience’
Grab Thailand is ramping up its premium on-demand ride-hailing service by reintroducing “GrabCar Premium” with the concept of “The Ultimate 5 Senses Experience,” in collaboration with Spotify and Chol Aromatique. This strategic move is aimed at creating an impressive user experience through an astonishing ambience appealing to all five senses, targeting urban people – especially white-collar workers and foreign tourists – who…
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MGM Resorts set sights on Thailand that could help attract more tourists
Thailand, which has notoriously steered away from gambling, has started to make moves towards legalising casinos – with the hope that it could put them up there with other famous gambling destinations and attract more tourists to the country. In the past few months, lawmakers in the country have approved a report, meaning that there is a very real possibility…
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AI-created song removed from streaming platforms
An ingenious AI tune impersonating Canadian stars Drake and The Weeknd was removed after causing quite a commotion! “Heart On My Sleeve,” a tune created using artificial intelligence (AI) software to emulate the voices of Drake and The Weeknd, has been causing a right stir. After receiving millions of listens within a short space of time, Universal Music Group (UMG)…
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Record high Netflix subscriptions, imminent password crackdown
Netflix Smashes Records with 232.5 Million Subscribers, and Ad-Supported Tier Going Brilliant Ace stuff from Netflix as they revealed that the number of subscribers reached a staggering 232.5 million in the first quarter, setting some serious records. Not only that, their swanky new ad-supported tier is getting a thumbs up from tv lovers. The streaming titan flexed those financial muscles…
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A closer look at the crypto industry in Thailand
Thailand’s crypto industry has been steadily growing in recent years. This success is partially thanks to the government’s increased support for the sector. In 2018, the Thai government legalized cryptocurrencies and introduced a regulatory framework to oversee crypto-related activities in the country. Since then, Thailand has become a popular destination for crypto startups like Bitcoin casinos, trading exchanges, and payment…
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Pepsi Thailand introduces bottles made from 100% recycled plastic
Suntory PepsiCo Beverage (Thailand) will switch to 100% recycled plastic for its 550ml Pepsi bottles, expected to enter the market later this month, under the campaign “Appreciate Fizz: Dare to Change the World.” PepsiCo joined forces with Chulalongkorn University and ENVICCO Co., Ltd. to launch the project, “Pepsi Recycled PET Bottle Campaign.” Pepsi will be the first carbonated drink brand to…
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Thailand’s billionaire trio makes Forbes’ 2023 list of world’s richest
Forbes yesterday released its annual list of the world’s billionaires, and Thailand has its hands in the till with 28 billionaires, three of whom are ranked in the top 150. The list includes Dhanin Chearavanont, Charoen Sirivadhanabhakdi, and Sarath Ratanavadi, whose net worths range from US$12.3 billion to US$14.9 billion. Despite this achievement, the year 2023 proved challenging for the…
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Shake Shack opens for business in Thailand
World-famous New York burger joint Shake Shack opened its flagship Thailand store at CentralWorld in Bangkok at 10.30am today. The first 500 customers at the store this morning were given handcrafted bamboo Shake Shack fans woven by a community enterprise in Ayutthaya, ready for the summer season. The restaurant’s menu offers American classics like burgers, hot dogs, chicken, fries and also…
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Thailand’s leading Fintech “DeeMoney” unveils new strategy “Owndee” with better rates, faster, and easier transfers
DeeMoney is Thailand’s No 1 money transfer service licensed by BoT DeeMoney aims to be NeoBank offering comprehensive cross-border payment and money transfer services on digital platforms that best address target customers’ demand In 2022, DeeMoney emerged as a dominant fintech player in the non-bank money transfer sector, with overall transactions exceeding 3 million transactions with a volume over 50…
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No ripple effect in Thailand from US banking crisis, says Finance Minister
Finance Minister Arkhom Termpittayapaisith insists that the recent troubles faced by some major banks in the United States have had no impact on Thailand so far. Arkhom added that the government is prepared to take action in case of any potential volatility that may arise from global markets. The comments were made in response to the recent collapse of Silicon…
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Prime office location for rent in the heart of Bangkok’s thriving Bang Kapi area
Looking for a strategic prime office location to establish your business in Bangkok? Look no further than the SINGHA COMPLEX project in the bustling Bang Kapi area. The recently completed office space on the 18th floor of the tower is now available for long-term rent. The indoor area of the office measures 783 square metres and it is currently unfurnished.…
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Thailand’s top 10 most expensive condos
Thailand is home to 15 condominium projects selling condo units for more than 50 million baht each, according to the Agency for Real Estate Affairs (AREA). Matichon reports that the President of AREA’s Thai Real Estate Research and Valuation Information Centre, Sophon Pornchokchai, revealed on Tuesday that the most expensive condominium unit in Thailand is worth a whopping 887.2 million…
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Selfridges’ Thai owners take on 70 billion baht debt
Central Group, Selfridges’ Thai owners along with Austrian enterprise Signa Holdings, have taken on another £1.7 billion (US$ 2 billion, 70 billion baht) of debt in a strategy to increase investment returns. The London branch of Bangkok Bank provided the loan, secured against the lease on the retailer’s London flagship store. Selfridges said the loan would “release capital” for the…
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Nok Air begins Bangkok-Hyderabad flights
Thailand’s budget airline Nok Air has begun direct Bangkok-Hyderabad flights linking the Thai capital with India’s IT hotspot. A Boeing 737-800 aircraft with 189 Economy Class seats plies the nonstop route from Don Mueang International Airport to Rajiv Gandhi International Airport four times per week. Nok Air begins Bangkok-Hyderabad flights The new route provides Hyderabad, a major centre for the…
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Thai Airways to merge with Thai Smile to ‘reduce losses’
Thai Airways is to merge with Thai Smile to “reduce losses.” The plan is expected to be approved by the end of this year. Piyasvasti Amranand, chairman of THAI’s committee overseeing the airline’s rehabilitation, said the restructuring had been on the cards for a while and had always been part of the plan. “A study about the merger plan is…
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Thai Airways Q4 loss narrows
Thai Airways Q4 profit almost tripled as tourists started to return to the holiday kingdom. The carrier’s net income for the three months ending December 31 rose to 11.2 billion baht (US$300 million) from 4 billion baht a year earlier, chief executive officer Chai Eamsiri said on Friday. Thai Airways Q4 profit to support strong growth in 2023 Operating income…
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Foreigners invest 5 billion baht in Thailand in January 2023
In the first month of 2023, foreign investment in Thailand amounted to 5.129 billion baht, the biggest investors being the Japanese, investing 3.588 billion baht. Foreign investment is expected to reach 100 billion baht by the end of the year. Today, Deputy Minister of Commerce Sinit Lertkrai revealed 52 cases of foreign investment in January under the Foreign Business Act…
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Thai rubber should tap into the sex toy market, says agriculture minister
Thailand could make a killing if the country’s world-class rubber industry tapped into the sex toy market, according to Minister of Agriculture Chalermchai Sri-on. The minister posted a compelling argument on Facebook which would require a big revision of Thailand’s archaic laws if it came to fruition. The kingdom’s illegal sex industry is hiding in plain sight, sex toys included.…
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Taxes up, bribes down – Palang Pracharath Party wants venues to operate legally
The ruling Palang Pracharath Party’s Chaiwut Thanakamanusorn wants to make it easier for entertainment venues to operate legally. The Minister for the Digital Economy would like to see bars and clubs operate within the tax system, bringing in fiscal revenue and administration fees while reducing the scope for bribery. Chaiwut said on Sunday that Palang Pracharath members had agreed that…
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Small hotels recover in Thailand as foreigners move downmarket
As small hotels recover in Thailand, returning tourists are choosing different options from pre-pandemic staples. A study of small hotels and hostels found booking growth is now higher than before the pandemic, with bookings from overseas tourists exceeding those of local travellers. As small hotels recover in Thailand, bookings are up by a quarter from the pre-Covid levels, according to…
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New law allows foreign talent to thrive in Thailand
The government of Thailand has taken a huge step forward in attracting highly skilled foreign workers to the country, with the release of a new law that allows foreigners to work or invest in 18 select industries. The Royal Thai Gazette website published a notice from the Ministry of Interior outlining the special permit for migrant workers, signed by Prime…
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Chem-Dry announces Thailand master franchise availability
Press Release After more than 20 years., Chem-Dry’s master franchise holders in Thailand are ready to sell, creating a rare entrepreneurial opportunity in a market ripe for solid growth. This opportunity represents a unique investment for entrepreneurs looking to start or expand their business portfolio and tap into the rapidly growing cleaning industry in Thailand. Brothers David and Richard Arell…
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Custodied cryptocurrencies to see new regulations in Thailand
Custodied cryptocurrencies will see new regulations in Thailand. The Securities and Exchange Commission of Thailand issued new measures which require companies offering crypto custody services to “establish a digital wallet management system to accommodate efficient custody of digital assets and keys and ensure the safety of clients’ assets.” The new regulations went into effect on January 16th. The new measures…
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Central Fraud Registry, coming soon to clean up Thai banking
Thailand‘s forthcoming Central Fraud Registry will be a new investigative authority, working alongside the Computer Emergency Response Team, a group of financial institutions focused on cybercrime in the banking industry. The new fraud registry will concentrate on financial fraud in the industry. Thai Banking Association (TBA) chairman Payong Srivanich did not set a time frame for setting up the registry.…
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Top 5 foreign nationalities buying condos in Thailand in 2022
Chinese nationals bought the most condos out of any foreign nationality in Thailand this year despite the difficulties posed by Beijing’s strict Covid-19 restrictions, which are finally easing up after three years. In Thailand, foreigners are permitted to own 49% of the units in any condominium building. The remaining 51% must have Thai ownership. Although fewer Chinese bought condos in…
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Thaiger Cage hospitality digital pitch event to debut at Thailand Tourism Forum 2023
BANGKOK, THAILAND Leading Thai digital media outlet The Thaiger is launching a new start-up technology pitch event ‘The Thaiger Cage’ on 16th January 2023 at the Conrad Bangkok. It is a special prequel to the Thailand Tourism Forum (TTF) 2023, now in its twelfth year and widely considered to be the country’s leading annual hospitality event The special one-hour pre-event…
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