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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Opportunities for 2020 export growth in Thailand
Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead. They say that, due to the Thai baht weakening and massive government interventions around the world for both monetary and fiscal policies, there is still a chance that Thailand could reduce the…
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Cabinet will look at proposal to help with home internet
Cabinet today will look at a proposal to help people working from home with 10 Gb free internet for their smartphones, along with other subsidies. The Thai National Broadcasting and Telecommunications Commission will ask for cabinet approval providing mobile users with 10 free gigabytes of data usage per subscriber, per month up to June 30. The NBTS say they recognise…
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Airports of Thailand approves Don Mueang expansion
Yesterday, the Airports of Thailand (AoT) board gave tacit approval of a master plan for the third-phase development of Don Mueang International airport costing an estimated of 39 billion baht. The expansion arrangements includes, increase of the airport’s capacity to 40 million passengers a year (currently 30 million a year), a 3.4 kilometre automated people mover system (APM), new car…
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Home alone. Phuket hotels hit a speed bump.
by Bill Barnett of c9hotelworks.com In the latest news, Singapore’s move to impose a stay-home policy or self-isolation for travellers within ASEAN, has hit the industry hard. Here in Phuket, hotels are winding down their traditional snowbird European business which for the most part was booked well in advance. Rates have somewhat held during this time. One key barometer of…
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Amazon cafe suspends ‘bring your own cup’ campaign
Thai coffee shop chain ‘Amazon’ announced today the suspension of their promotional campaign called “Café Amazon for Earth” which was aiming to reduce plastic waste by allowing customers to bring their personal cup when buying a beverage and receive a discount of 5 baht. The company says the decision to end the promotion was made to increase customers’ awareness to…
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Thai stock exchange pulls 30 minute circuit breaker
The Stock Exchange of Thailand (SET) had pulled a 30 minute “circuit breaker” to suspend trade between 9:59 and 10:29am leading to a fall at 11am, when the SET fell by 78.95 points, or 7.08%, to 1,035.96. Foreign investors made net sales of 1.929 billion baht in the stock market and 13.646 billion in the bond market. Most global stock…
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Thai Airways president and Suvarnabhumi chief resign
Two of Thailand’s most prominent aviation bosses have thrown in the towel, citing the Thai government’s bungling of the Covid-19 coronavirus situation. Both resignations happened yesterday. The president of Thai Airways, Sumeth Damrongchaitham, resigned yesterday afternoon. That corporate bombshell was closely followed by the resignation of the director of Suvarnabhumi International Airport, Sutheerawat Suwannawat. At this stage the Thai government…
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Gold mining company found guilty for avoiding environmental report
Former director-general of the Department of Primary Industries and Mines Somkiat Phuthongchaiyarit, has been found guilty of colluding with five other parties for trying to avoid the mandatory environmental impact assessment (EIA). Secretary-general Worawit Sukboon of The National Anti-Corruption Commission (NACC) says… “All 6 members had a hand in the unlawful approval of a request by Akara Mining Company (or…
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Thai Airways announces losses over 12 billion baht for 2019
Thai Airways International and its affiliates incurred a net loss of 12.017 billion baht last year, that’s 448 million baht more than the year before. The airline has been accumulating losses year on year for over a decade. Speaking about the losses at the announcement yesterday, the vice president of finance and accounting Nattaphong Smit-Ampaisal says that the airline was…
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Chevrolet Thailand says ‘no’ to compensation demands for cars sold before discounts were announced
Yesterday, a group of Chevrolet car buyers submitted a letter to Chevrolet Sales (Thailand) at the company national HQ at Rasa Tower, in Bangkok’s northern suburbs. They were demanding the company should compensate them for having bought their cars at full price, just before Chevrolet announced it was pulling out of manufacturing cars in Thailand. Specifically they were complaining about…
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Chevy’s having a “garage sale” and prices are halved
General Motors’ recent announcement that it’s ending production and sales of Chevrolets in Thailand means prices for new Chevrolets have been cut by half. The starting price for the latest SUV, the Captiva, is now just under half a million baht. General Motors announced Sunday that it’s pulling out of “markets that don’t produce adequate returns on investments,” namely Thailand,…
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Thailand’s General Motors plant sold to China’s Great Wall Motors
China’s Great Wall Motors has agreed to buy the General Motors’ Thailand manufacturing plant in Rayong. It’s expected than the transaction will be completed by the end of this year. GM announced this week that it is accelerating a retreat from “unprofitable markets”, becoming more dependent on the US, China, Latin America and South Korea for its manufacturing. Read more about…
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MICE sector to get 200 million baht in relief funding
Thailand’s government will provide relief funding for the MICE (meetings, incentives, conferences, exhibitions) sector after it declined by half due to the coronavirus outbreak. The cabinet approved the extra budget last week. The Thailand Convention and Exhibition Bureau (TCEB), together with the Thai Chamber of Commerce (TCC) and listed companies, will provide 200 million baht in cash incentives to promote…
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Bangkok food delivery riders demand legal protections
If you’ve got a smartphone, a motorbike and a bit of cash, you can get work straightaway in Bangkok… but it comes at a cost. Though the income is potentially high, online food delivery drivers face heavy workloads, long hours, customer complaints and high levels of risk. GrabFood riders held a protest in Bangkok last week, saying that they get…
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Thai Airways considers leasing planes and outsourcing cabin staff
In its attempts to restructure the legacy national airline, senior staff of Thai Airways may lease aircraft and cabin staff. The plans are part of fleet and service improvement options as demanded by the Thai Government who had to find 11.1 billion baht over the first 9 months of 2019 to keep the national airline in the skies. According to…
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Grab plans to be in 30 Thai provinces this year
Grab, the everyday-everything-travel-food-delivery-super-app, has kicked off 2020 by announcing its expansion plan to second-tier cities and provinces across Thailand through a new, innovative business model using Mini-Grab Centres (Mini-GCs). The move will see it extend its presence to 30 of Thailand’s 76 provinces before the end of 2020 and help increase the benefits of Thailand 4.0 and the digital economy…
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Thai tourism to take hit over Coronavirus
by Bill Barnett of c9hotelworks.com A travel ban is now in effect in Mainland China for tour groups who were booked for holidays overseas. Over the past few days hoteliers in Phuket, Bangkok and throughout the country are reporting significant cancellations, not only of groups but also independent travellers (FITs). Last year Mainland Chinese travellers to Thailand nearly eclipsed 11 million,…
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Online grocery shopping gains popularity in Thailand
Squeezing the avocados and smelling the mangoes, in person, may well become a thing of the past as online grocery buying quickly gathers pace. The intense competition in online grocery sales is expected to surge in 2020. Online Apps like Line, Grab and Lazada are making major inroads into the Thai grocery market valued around 30 billion baht. Pushing the growth…
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Forecasts for Bangkok property 2020
A supply influx of new office space is on the way while the overall retail industry faces low consumer confidence. But, in 2019, the number of Chinese tourists to Thailand has started recovering, says CBRE, an international property consultant. Bangkok Office Market The office market in Bangkok continues to perform strongly for this, but CBRE identifies challenges that are heading…
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Three massive condo developments along Phuket’s up-market Layan Beach
by Bill Barnett – c9hotelworks.com Two new condo developments are going ahead in the Layan Beach area of Phuket’s up-market west-coast beach strip. And there’s another one underway next to the Dream Beach Club at the northern end of the Layan beach strip. All in all, another 1,200+ keys added to the available rooms along the Bang Tao/Layan Beach area.…
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Bangkok’s vacant land owners growing fruit and vegetables to evade vacant-land tax
A loophole in land tax around Bangkok (actually everywhere in Thailand) is having an unexpected side effect, mostly good. Many vacant property owners in Bangkok are growing fruit and vegetables to escape the newly launched tax on their undeveloped land. For example, Banana trees are now growing on an expensive piece of land near Naradhiwat-Rajanagarindra Road. To avoid the new…
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Crunching the numbers on Phuket’s hotels – 2020
PHOTO: Travel 141 Bill Barnett from c9Hotelworks, crunches the numbers and reports on some challenges for Thailand’s largest island and most popular tourist destination, outside of Bangkok. Robust passenger arrivals in the second half of 2019 highlighted by growth in Indian tourists helped rebalance the island’s tourism sector, according to the C9 Hotelworks newly released Phuket Hotel Market Update (link…
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Two out of three CEOs say the 2020 Thai economy will not improve – Survey
Many CEOs, based in Thailand, don’t expect Thailand’s economy to improve during 2020. Many surveyed cited global economic uncertainties, according to the “CEO Survey” of 100 individuals. The survey was conducted by Krungthep Thurakit newspaper a month ago. Around 68.4% of the respondents didn’t expect the economy to improve this year, while 31.6% were saying that the economy would fare…
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Doctors, teachers and WHAT?#! Thai kids career choices 2020
PHOTO: Bangkok Prep The results of the 11th Children’s Dream Career Survey for 2020 are out. The annual survey is conducted by Adecco Group Thailand. 4,050 Thai children, aged 7 to 14 years from all parts of the country, were surveyed about their dream career. The top dream career for Thai kids is to become a doctor, followed by teacher. The…
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Starbucks Thailand introduces paper straws from next Monday
The Thai operators of Starbucks Coffee says it will provide paper straws to customers at all stores across Thailand starting next Monday, January 6. The announcement is most likely in response to the national mood to reduce usage of single-use plastic items although the local Starbucks franchise say the announcement has been in the pipeline for the past year. Starbucks…
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EssilorLuxottica fraud linked to merger friction of the Euro eyewear giants
PHOTO: Global Retail Alliance Latest info on the fraud at a Thai factory making lenses for the multinational eyewear conglomerate, EssilorLuxottica. The newly merged Italian-French manufacturer of ophthalmic lenses, frames and sunglasses says it was the target of a 190 million euro (6.3 billion baht) fraud at a Thai factory as an ongoing power struggle over the 2017 merger of the…
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EssilorLuxottica announces a 6.3 billion baht fraud at a plant in Thailand
EssilorLuxottica has reported a 213 million US$ (6.3 billion baht) fraud in on of its plants in Thailand. EssilorLuxottica is a French-Italian multinational corporation based in Paris with subsidiaries and manufacturers around the world. Essilor Luxottica, a global designer, manufacturer and distributor of ophthalmic lenses, frames and sunglasses, has announced that its subsidiary Essilor International recently discovered fraudulent fund transfers in one…
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Thai baht hits highest level against the USD in six years
The baht finished in spectacular fashion after a year as one of the world’s most stable currencies, when it reached 30.15 baht against the US$, its highest level in six years. Kasikornbank Bank is forecasting that the Thai baht could move into a range of 30-30.30 baht to the dollar this week (up to January 3). Investors have been selling USD…
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Phuket Sky Way cable car will provide tourists with a new view of the island
PHOTOS: Phuket People’s Voice The committee of economy development, bringing together both government and private sectors, has agreed to allow a cable car project on Phuket as the island’s new landmark. It has been revealed that the cable car design is finished and the Environmental Impact Assessment will be commissioned soon. At the moment the working title for the project…
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Central “deeply appalled” by Nazi pics at their Christmas display
UPDATE: The family of one of the people in the photo, has contacted The Thaiger and asked us to remove the photo. We have blurred one of the faces to comply with their wish after a discussion on the matter. “Three French hens, Two turtle doves and a pair of Nazi’s in a Bangkok shopping centre”. A cultural collision, a…
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