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 A World Kindness Day: Spread kindness, prevent illness - Get your 10% discount
With World Kindness Day just two days away on November 13, it’s the perfect time to reflect on how empathy and care can make a real impact, not just in our relationships but in our health, too. This day is...
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Airbnb partners with Thailand Boutique Accommodation Trade Association
PHOTO: Mike Orgill, Airbnb Country Manager for Southeast Asia (left) and Suparerk Soorangura, President of TBAA and Advisor to the Thai Travel Agents Association (right) signing the MoU. Airbnb, the world’s leading community-driven hospitality company has announced its industry-first partnership with the Thailand Boutique Accommodation Trade Association (TBAA) to promote creative, people-powered Thai hospitality. Through the partnership, Airbnb and the TBAA…
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Tourism stakeholders commit to plastic-free future at PHIST
PHIST – Phuket Hotels for Island Sustaining Tourism Forum 2018 Leading hotels and tourism groups have signed the “Phuket Pledge” at Phuket Hotels for Islands Sustaining Tourism Forum 2018 (PHIST) establishing a model for the future development of islands throughout Asia that embraces sustainability as a core and sets urgent goals for long-term change. The Phuket Pledge is a commitment…
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Exports rise nearly 7% in August, the highest this year
Thai exports have gown at 6.68% to US$23.8 billion during the month of August, the highest gain so far this year. The announcement from Ms Pimchanok Wornkhorporn, director of Trade Policy and Strategy Office of the Commerce Ministry. Exports for the first eight months of this year rose 10.03% and, for the rest of 2018, are expected to grow 8…
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Phuket now has a world class shopping hub
by Tim Newton The population of Thailand is around 70 million people. I think most of them were at the opening night of the new Central Floresta on September 10. As far as openings go this must have put a smile on the Central owners and management involved in bringing this new shopping experience to fruition – it was a…
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Bangkok’s MRT given the green light to run Phuket and Chiang Mai light rails
Bangkok’s subway operator. the MRTA (Mass Rapid Transit Authority) has been given the green light to invest in the proposed Phuket/Phang Nga and Chiang Mai light rail services. The MRT is also going to run the service when the services are eventually constructed. The cabinet has approved some of the basic details of the project that will give the MRTA…
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Samsung teases world’s first foldable phone
At least it won’t break when you try and bend it. Samsung are about to reveal some details on the world’s first foldable smartphone at its developers’ conference in San Francisco this November, according to industry sources. Rumors that the South Korean tech company would unveil its foldable phone at the Samsung Developer Conference have been circulating around the world…
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The new Central Floresta is open
10.40am Monday, September 10, 2018. The new, highly-anticipated (by locals) Central Foresta opens it doors for the first time. Opposite the ‘old’ Central Festival, located at the Darasamuth Intersection, the new Central Floresta creates a ‘central’ shopping destination for the island to match anything in Thailand. The new Central Floresta combines the highest-end luxury brands with Peranakan-themed food halls, floating…
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A Mandarin for Phuket
PHOTO: The Mandarin Hotel Sanya Island One of Asia, and the globes, leading luxury hotel brands, Mandarin Oriental has inked a deal for a Phuket property. Mandarin Oriental, Phuket will be located on one of the undeveloped beachfront sites still to be found on ‘Millionaire’s Mile’ on the west coast of Phuket island. It will occupy 9.5 hectares of land in…
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Confidence levels in the Thai economy continue to rise
Consumer confidence in Thailand is riding high. In fact it’s at its highest level in over 5 years. A growing economy and better prices for farm products is believed to be part of the continuing confidence. Regions in the country which have a high level of manufacturing or tourism are reaping the benefits of the growing economy. A survey by…
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Chinese setting up shop in Chiang Mai
by Jintana Panyaarvudh The charm and beauty of Chiang Mai, the capital of northern Thailand, has made the province not only a must-see destination but also a golden nest for foreign investors – especially Chinese seeking business opportunities. Take Chinese entrepreneurs like Cherry and Zong Dan, for example. Having fallen for Chiang Mai’s charms, they opted to start their first…
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Thailand emerging as a regional blockchain leader
While United States regulators are still trying to figure out how to think about cryptocurrencies, Thailand’s government is already mapping out its own central bank digital currency. Tech Crunch says this is just one of numerous examples how Thailand has emerged as one the most interesting cryptocurrency and blockchain countries in Southeast Asia during 2018. The Thai government has become increasingly…
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Pattaya attracting major government and international brand investment
As part of Pattaya’s make-over to attract high-scale tourism back to the popular seaside city, some of the biggest names in local and international leisure, retail and sport are putting their money down to invest in the region’s future. And the Thai government is investing heavily too as part of its commitment to rebrand the area and bring it up…
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Former Thai actor arrested over Bitcoin scam
A once-popular actor has been charged with convincing foreigners to transfer to him more than 5,500 bitcoins as an investment. (5,500 Bitcoin are worth around 210,000 baht or US$6,300 each as of today) Police picked up 27 year old Jiratphisit Jarawitchit today at midday at a shopping mall in Bangkok’s Chatuchak district. The Criminal Court issued arrest warrants for him…
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Sony’s new Xperia XZ2 Premium with ultra-high sensitivity dual camera
ADVERTISEMENT Sony Thailand steps up its game with new smartphones introduced to compete offerings from some of the Chinese companies as well as Samsung and Apple. Sony have announced the new XZ2 Premium, which has one of the most remarkable cameras ever integrated into a smartphone. The new phone boasts the world’s highest ISO 12800 sensitivity for video recording in…
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Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies
Newly established in Phuket, Invacio Research Analytics, a group subsidiary of Invacio founded by William J D West and led by Linleeya West (Thai/Swiss educated), are bringing Artificial Intelligence to Thailand and also bridging the gap between established currencies and the emerging world of cryptocurrencies. Through a sister subsidiary company, Invacio AAP Holdings (Seychelles), under the Invacio umbrella are all…
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Thavorn Hotels & Resorts receives Thailand MICE Venue Standard Award
Thavorn Hotels & Resorts is proud to announce its certification of Thailand MICE Venue Standard (TMVS) by Thailand Convention and Exhibition Bureau (TCEB). The certification assesses venues in three key areas – physical, technological, and service requirements. Certified venues appear on an Approved List and are publicised worldwide as venues that meet international standards. MICE – Meetings, Incentives, Conferences and…
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Boeing says Asian region biggest growth area for aviation in next two decades
By Data Leads. PHOTO: Thai Airways Boeing 787 Asian countries are estimated to require 16,930 more airplanes by 2037, making the region the fastest growing aviation area in the world. Boeing’s annual forecast, the Commercial Market Outlook, reveals that the world fleet of jet planes would need 42, 370 new planes valued at US$6.3 trillion. The forecast predicts that the global…
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AI company invests 350 million baht in SE Asia – opens office in Phuket
Invacio, an artificial intelligence company, are busy setting up their operations in Thailand as part of their global operations. They are investing up to 350 Million baht in south east Asia Invacio Research Analytics, a group subsidiary of Invacio founded by William J D West, has launched in Thailand, led by Linleeya West (Thai/Swiss educated) Linleeya West felt this was…
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Cathay Pacific brings the first A350-1000 to Suvarnabhumi
Cathay Pacific is the first airline to land an Airbus A350-1000 in Thailand and was congratulated by Airports of Thailand (AoT) deputy vice president Kanogwan Kasetsin and customer relations director Anussara Mongsup. Cathay Pacific’s A350-1000, the largest variant in the A350 family, carries 334 passengers in first, business and economy classes. Staff of Cathay Pacific, led by Kendrick Ko, country manager…
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Hilton Phuket Arcadia Resort & Spa announces their new GM
Hilton Phuket Arcadia Resort & Spa have today announced the appointment of Markus Kosch as the new GM. Markus most recently served as General Manager of Conrad Guangzhou in China. Commenting on his appointment, Markus said, “I am excited to have the opportunity to be at the helm of one of the largest resorts in Phuket.” A 22 year veteran in the…
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BMW eyes bright future for electric cars in Thailand
That growth makes Thailand number three in the world in terms of market acceptance of PHEVs, according to Krisda Utamote, BMW Group Thailand’s director of corporate communications. Christian Wiedmann, president of BMW Thailand, says the German carmaker would continue churning out new electric vehicle models due to confidence in its global market expansion, with Thailand included. “In Thailand, BMW is…
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Property report tips Phuket property boom
According to Knight Frank Thailand’s research, the Phuket condo market is expected to perform better in line with the brighter economic situation and the growing population of the island. Increasing supply and higher selling prices will be the key drivers, while demand is forecast to improve slightly. The number of launches in Phuket is predicted to increase and Thai developers…
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10 good news stats from today’s economic forecast
The first four months of 2018 have seen the Thai economy surge ahead, Some key numbers were released today about the good news in the country’s financial report card. The value of exports rose 12.3% in April, year-on-year. • This month’s rise in exports is the 14th consecutive month of growth. In April Thailand shipped out 120,000 tonnes of durian,…
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Thai Airways profits up nearly 50% for Q1
Thai Airways International and its subsidiaries have been able to notch up an operating profit of 3,836 million baht for the first quarter of 2018. This represents a 49.4% improvement over the same period last year, despite rising fuel costs. That cashes out as a net profit of 2,737 million baht, still 432 million baht (13.6%) short of last year’s Q1…
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Netflix, Spotify and Chill – Navigating the brave new world of music and TV
Subscription movies and music services are booming, in particular Netflix which has over 125 million users worldwide and Spotify which has over 70 million paying users. The subscription model is where you pay a monthly fee and are entitled access to media which is streamed via the internet, rather than buy a physical CD/DVD, an album from iTunes or pay…
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South East Asia hotel investor’s summit kicks off in BKK Monday
PHOTOS: seahis.com The largest investor summit for hotel owners and investors in south east asia kicks off in Bangkok May 14 & 15. The event is being held at the Westin Grande Sukhumvit. At this stage the event has 220 registered delegates from 15 countries, representing 60 leading hotels. Organisers say the event will adopt a roundtable format to allow delegates guests…
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5 things to check about your social media in 2018
Social media is going though some upheavals, affecting your numbers, especially the big ‘F’. Alex Runhaar, The Thaiger’s social media svengali, explains the things we need to focus on in 2018 as the social media washing machine swirls around us. https://www.youtube.com/watch?v=Y6T3-XXBGl4&feature=youtu.be
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New 101 villa luxury property heading to Mai Khao, Phuket
PHOTO: Viagens e Férias Global hospitality group Melia Hotels International has signed a new 101 villa luxury property in Mai Khao, Phuket. The developer of the property is the Phuket Villa Group. Each of the hotel villas feature private pools. Slated for 2021, the group will enter the Phuket market with an exclusive luxury resort on the idealic Mai Khao beach, at the…
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Transparent Government. Where does Thailand rank?
Japan has the most open government system in Asia, according to the recently released World Justice Project. Thailand leads countries like China and Malaysia when it comes to transparent government. Globally, Thailand ranks 68th in the ranking. The report measures whether country’s basic laws and information on legal rights are publicly available, presented in simple language and if there is…
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Confidence riding high – Thai economy continues to surpass forecasts
Confidence is riding high according to the Joint Standing Committee on Commerce, Industry and Banking. They report that the private sector remains confident about Thailand’s economic growth of 4.5% being maintained as exports and tourism continue to rise. But the Committee warns that the private sector is being spooked by potential fall out from the ramping up of trade disputes…
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