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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Thai Air Asia introduces Chiang Rai-Shenzhen route
Thai AirAsia is adding new flights to its Chiang Rai hub with a new direct route to China that starts on April 30. The new daily direct flight from Chiang Rai to Shenzhen (adjacent to Hong Kong) is being promoted this week with fares as low as 735 baht one-way. Bookings opened this week and the promotional fare remains the…
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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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Hospitals train staff to recoup money from non-paying foreigners
“…many foreigners sought treatment for ailments or injuries at public hospitals and many failed to fully pay the bills, resulting in multi-million baht in debt.” The Public Health Ministry’s Department of Health Service Support has provided training to public hospitals in tourist provinces to help them collect fees from foreigners, director-general Dr Nattawuth Prasertsiripong said yesterday. The move is aimed at…
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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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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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