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 New in July: Save 10% for life on family health plans in Thailand
Cigna has a special offer this July for families in Thailand. When you sign up three or more people on a family health plan, you will save 10% on your premiums for life. This deal helps you get affordable, high-quality...
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Starbucks Thailand advances expansion, eyes 800 outlets by 2030
Starbucks Thailand unveiled a bold expansion plan for the 2023 to 2030 period. The plan aims to increase the current number of Starbucks outlets in the country from 465 to a whopping total of 800 by the end of 2030. As per this agenda, the addition of 335 stores is projected across Thailand over the specified span. Nednapa Srisamai, the…
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Marketing 6.0: MAT reveals trends shaping customer behaviour and tech influence
Changes in customer expectations prompted by digital disruption and evolving consumer behaviour indicate that the world is entering a new marketing era. Postmodern methodologies such as multiverse marketing – which fuses the physical and digital realms into a seamless buying experience – are at the forefront of Marketing 6.0, declared the Marketing Association of Thailand (MAT). According to the association’s…
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THAI lags as Centara Grand emerges Thailand’s strongest brand
The sluggish revival of business tourism, coupled with Thailand’s failure to establish itself as a global connection hub, has resulted in the brand value of Thai Airways (THAI) lagging behind its rivals. Conversely, Centara Grand Hotels & Resorts has emerged as the strongest brand in the nation this year. According to Alex Haigh, who serves as the Asia-Pacific Managing Director at…
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Bank of Thailand considers interest rate cuts to address household debt
A senior executive at the Bank of Thailand hinted at the possibility of interest rate slashes, which could provide a lifeline to struggling debtors, desperate to escape from their worsening debt cycles. In talks with the Thai Bankers’ Association (TBA) and other related groups, the central bank is exploring various methods to curb the nation’s escalating household debt. According to the…
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Thai political truce sparks hopeful business and economic recovery prospects
Thailand‘s business leaders anticipate a more positive path for the Move Forward Party (MFP) and its seven ally political parties to constitute a government and address economic challenges, following the agreement on a House speaker. The MFP had earlier been engaged in disputes with the Pheu Thai Party over this significant role in the House of Representatives. The conflict was resolved…
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HomePro invests 4 billion baht in eco-friendly store, diversifies product portfolio in Thailand
Home decor and upgrade specialist, Home Product Center Plc, under the HomePro banner, declared a business expansion investment of 4 billion baht this year for store diffusion. Ittaporn Srisukwattana, the firm’s senior vice president of design and product development, articulated that this financial plan would be deployed towards the inauguration of two HomePro and eight Mega Home shops this year.…
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Thai tourism unaffected by political unrest unless airports shut, says ex-minister
In times of political upheaval, Thailand’s foreign tourists would not be significantly impacted, unless there was an incident akin to 2008’s airport disruption, according to former tourism and sports minister, Weerasak Kowsurat. Back in 2008, protesters had shut down Bangkok’s airports leading to a drop in tourist visits, impacting Thai tourism. Weerasak, now serving as a senator, insists that tourists…
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Export growth remains uncertain amid high global interest rates in Thailand
In a recent development, the Thai National Shippers’ Council (TNSC) has adjusted its export growth outlook to fall between a negative 0.5% and a positive 1%. This stark revision from the previously projected 0 to 1% growth range primarily attributes to looming global uncertainties, particularly concerning key trading counterparts in the US, the EU, and China. High international interest rates…
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LGBTQ+ tourism revenue boom fuels drive for legalised same-sex marriage in Thailand
Thailand is witnessing a surge in the burgeoning LGBTQ+ community, as diversity takes centre stage worldwide, boosting LGBTQ+ tourism in the country. As per estimates by LGBT Capital, an asset management company serving the LGBTQ community, 5 to 10% of the world’s population identifies as LGBTQ+. This demographic represented around 3.6 million residents in Thailand in 2019. During Pride Month…
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Thai industries adjust strategies amid export downturn, eyes new markets
A recent downturn in exports has provoked 25 industry sectors to rethink their production strategies, the Federation of Thai Industries (FTI) has revealed. Key industries affected and readjusting include steel, machinery, construction materials and furniture, all of which significantly cater to the markets in Asia, the European Union and the United States. The FTI recently unveiled the results of a…
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Customs facilitation reform urged by Thailand’s finance minister to boost automotive sector
Finance Minister Arkhom Termpittayapaisith recently issued an appeal to the Customs Department of Thailand to streamline the customs facilitation formalities for both exports and imports. His appeal is aimed especially at boosting the activity of the automotive field. Following a discussion held with a group of investors from Japan in the core of June, Arkhom instructed the department to better…
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Airport capacity at Suvarnabhumi to increase with new terminal and tech upgrades
Influential airport operator, Airports of Thailand (AoT), is set to inaugurate a new satellite passenger terminal at the famed Suvarnabhumi Airport come this September. This addition is expected to bolster the airport’s passenger handling capacity significantly, managing an impressive 15 million extra passengers annually, which effectively raises the total capacity to a staggering 60 million per annum, revealed AoT’s president.…
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Digital infrastructure to revolutionise Thailand’s capital market
A revolutionary digital infrastructure has been established in Thailand’s capital market, following collaborative efforts by the Stock Exchange of Thailand, the Association of Thai Securities Companies, and the Thai Bankers’ Association. The state-of-the-art system, aimed at fully electronic end-to-end bond offerings, was presented in an attempt to enhance the Thai market’s efficacy and transparency. This dynamic solution covers a broad…
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Thai tourism targets wealthy Asian expatriates for industry boost
The Tourism Authority of Thailand (TAT) set their sights on the growing wealth of Asian expatriates as a potential boon for the Thai tourism industry. Chinese nationals residing in Cambodia and Laos have been particularly targeted due to their propensity for choosing Thailand as a location to send their children for education. According to Oranooch Pakapan-Rutten, TAT’s marketing representative for Cambodia…
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Thai industries call for government aid to stimulate export growth amid falling rates
Industry leaders are soliciting governmental assistance in a bid to boost export growth, following steady declines observed over a streak of eight months, according to recent insights sourced from the Federation of Thai Industries (FTI). Discussions with 210 executives from 45 sectors of the industry revealed that an overwhelming 80% of respondents were in favour of government initiatives to trim…
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Thailand, UK strengthen ties towards strategic economic partnership
Thailand and the United Kingdom (UK)are looking to fortify their economic ties now the toxic dust of Brexit has settled. With the next Joint Economic and Trade Committee (JETCO) meeting on the horizon this November, it’s believed that both countries are ready to elevate their relationship to a potential strategic economic partnership. JETCO Director-General Auramon Supthaweethum spoke at length about…
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GPSC set to invest 8.28 billion baht in India’s Avaada Energy
Embarking on a mission to bolster its renewable energy portfolio, Global Power Synergy Plc (GPSC), the power production offshoot of PTT Plc – the national oil and gas conglomerate, is looking at investing upwards of 19.1 billion rupees (roughly 8.28 billion baht) in India-based Avaada Energy Private. This investment is aimed at leveraging the upswing in electricity demand in the…
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Business uncertainty grows as Thai stock slide continues amid Chinese property defaults and Russian turmoil
Analysts flagged potential downswings to the Thailand Stock Exchange (SET) index due to ongoing business uncertainties in Russia and loan defaults in China’s property market. Over the past week, the SET index experienced a seven day consecutive drop, and despite brief rallying, finished in the red. Concerns stemming from smaller stock performances and news of Chinese property market default have…
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Business uncertainty fuels Thai Baht dip amid political unrest and Asian currency devaluation
Embroiled in political and business uncertainty, the Thai baht plummeted to a low unseen since last November, a seven-month dip, agitating investor confidence. This occurred alongside a universal lowering in the value of various emergent Asian currencies versus an emboldened dollar, fuelled by robust US data allaying recession fears. Stock markets in the region largely painted a bleak picture, with…
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King’s Bangkok to unveil 1 billion baht teaching complex by 2024
A new chapter beckons for King’s College International School Bangkok, with an estimated completion date of 2024 for its advanced teaching and learning complex. This ground-breaking venture surfaces on the heels of the successful inauguration of the senior school in 2021. Rendering a substantial investment tally projected above 1 billion baht, King’s Bangkok carries the intent of birthing a learning…
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Bank of Thailand to loosen foreign exchange regulations to stabilise long-term exchange rates
The Bank of Thailand revealed plans to loosen foreign exchange regulations to stabilise the long-term exchange rate. The move, which shows a clear focus on balancing capital inflows and managing volatility, comes as Thailand’s economy globally integrates further. Under the foreign exchange initiative, Thai individuals will now be able to pour as much as US$10 million into offshore markets, doubling…
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German and French firms eye Thailand’s booming electric vehicle sector
A surge of interest in Thailand’s budding electric vehicle (EV) industry has been noted among businesses from France and Germany. The Thailand Board of Investment (BoI) revealed this interest following an investment promotion roadshow in these European nations. The BoI’s Deputy Secretary-General, Wirat Tatsaringkansakul, suggested a particularly keen receptiveness from French and German investors. These potential investors are reportedly looking…
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US Ambassador celebrates first shipment of Thai pomelos to America
US Ambassador to Thailand Robert Godec had an opportunity to engage with Thai and foreign media today, where he expressed his delight at the first-ever shipment of Thai pomelos reaching the United States. This is a milestone that comes 190 years into the diplomatic ties between the two countries. The first export lot of the popular citrus fruits was dispatched…
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Economic disparity in Thailand widens, agricultural sector hit hardest
The age-old struggle with economic disparity continues to cast a shadow on Thailand’s society as inequality widens, particularly in the agricultural sector, which sees roughly 6% to 8% of its populace remaining below the poverty line. According to a recent study by the Trade Policy and Strategy Office (TPSO), this disparity has been fuelled by multiple factors, including the move…
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ChatGPT security: Asia-Pacific tops list in account breaches, Group-IB reveals
In a comprehensive study conducted by the international cybersecurity corporation Group-IB, over 100,000 infiltrated ChatGPT accounts have been detected in concealed Internet marketplaces. In the last year, the majority of these ChatGPT credentials were discovered within the Asia-Pacific region, threatening ChatGPT security. Through the close survey of stealer-riddled devices, Group-IB identified upwards of 101,134 technological instruments storing saved ChatGPT credentials.…
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Buying a franchise Vs buying a business: The benefits and drawbacks of each option
Are you considering starting your own business? Do you have the motivation and desire to be an entrepreneur but are unsure of which route to take? Buying a franchise or buying a business are two popular options for aspiring entrepreneurs. Both have their own set of benefits and drawbacks. In this article, we’ll explore the benefits and drawbacks of each…
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Hotel Act concerns addressed by Thai Hotels Association due to government’s registration rules
The Thai Hotels Association (THA) has taken a positive step by welcoming the Ministry of Interior’s new regulations. These rules will now classify smaller accommodations that were operating before 2016 as hotels. This decision is expected to result in increased tax collection, providing additional income for the government. However, the proposal to exempt larger accommodation facilities from registration under the…
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Boggle Boggle: Korean noodle pop-up store debuts in Thailand with K-drama experience
In a move influenced by the continued fascination with K-pop culture among Thai enthusiasts, ‘Boggle Boggle,’ a Korean noodle pop-up store reminiscent of the famed late-night food spots or vintage red tents frequently portrayed in South Korean TV dramas, has made its recent debut in Thailand. Hosting its grand opening on June 24, Boggle Boggle occupies a space on the…
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Thai economy booms as government’s fiscal income beats projections with 122bn baht surplus
The Thai economy demonstrates strong recovery and active imports as the Thai government’s net income during the first two-thirds of fiscal 2023 has surpassed projections by 122 billion baht, revealed Fiscal Policy Office Director-General, Pornchai Thiraveja, 42 years old. Between October 2022 and May 2023, the Thai government raked in a total of 1.64 trillion baht, which is an 8%…
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Thailand’s real estate sector eyes foreign investment boost
With an eye on boosting the economy, real estate developers and consultants are urging Thailand‘s new government to implement policies that promote foreign investment. They believe such measures will stimulate a more positive environment for overseas buyers in the property market, suggesting promotional efforts to increase awareness among foreign investors. Artitaya Kasemlawan, head of residential sales projects at CBRE Thailand,…
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