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 9 most common health issues covered by insurance for expats in Thailand
Thailand is a popular destination for expats due to its affordable lifestyle and excellent healthcare system. However, settling in a new country often brings health concerns. To ensure you’re covered for the most common medical needs, understanding what expat health...
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Thai food for thought: Restaurant sector set for festive tourism feast
The Thai restaurant sector is set to experience a significant boost during the new year festive season, largely driven by an increase in holiday travel and tourism. Despite this optimistic outlook, the Thai Restaurant Association expressed concerns regarding a potential decline in total spending on food and beverages due to weakened purchasing power and the concentration of activities in popular…
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Airline industry poised to surpass US$1 trillion despite delays
The global airline industry anticipates surpassing US$1 trillion in revenue due to record passenger numbers, despite facing significant challenges in acquiring new aircraft, according to the International Air Transport Association (IATA). Issues with Boeing and Airbus have caused delivery delays, impeding airlines‘ ability to upgrade their fleets with more efficient planes that could reduce fuel expenses while accommodating increased passenger…
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Thailand targets luxury and niche tourism for growth boost
The Tourism Authority of Thailand (TAT) is setting its sights on four niche tourism markets for the upcoming year: wellness, luxury experiences, sports tourism, and honeymoons. This strategic focus aims to tap into the burgeoning trend of high-spending and luxury tourism, with the agency planning to introduce exclusive events across the country. According to Chiravadee Khunsub, the Deputy Governor for…
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Thailand throws ‘baht’ at impact study of 10,000-baht handouts
In a bid to decipher the ripple effects of Thailand’s 10,000-baht cash handout scheme, the Finance Ministry launched an exhaustive survey. This deep dive, spanning 40,000 participants, aims to unravel the true impact of this financial initiative on the economy and society as a whole. Finance Permanent Secretary Lavaron Sangsnit promises findings by the month’s end. “This survey uses a…
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Hong Kong hotel bills pile up: Tourism takes a hit amid dollar drama
As Hong Kong’s hospitality sector braces for the new year, a perfect storm of challenges threatens to sour the city’s tourist appeal. With a new lodging tax set to dent visitors’ wallets and geopolitical tensions on the rise, thanks to Donald Trump’s upcoming presidency, the city’s once-thriving tourist industry could face an uphill battle. From January, a 3% hotel guest…
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Fed on the brink: Rate cut looms as US plays interest-ing game
Anticipation is reaching fever pitch as the US Federal Reserve gears up for a crucial meeting, with punters betting on a 25 basis point interest rate cut. Slated for December 18, this decision could have ripple effects all the way to Thailand, where the Bank of Thailand might follow suit in the coming months. The Federal Open Market Committee (FOMC)…
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Crypto hits new heights: Bitcoin Trumps US$100k amid election buzz
In a staggering leap that has set the crypto world ablaze, bitcoin shattered the US$100,000 mark for the first time, skyrocketing from around US$69,000 just a month ago. This meteoric rise comes hot on the heels of the US presidential elections, fuelling frenzied speculation among crypto investors about the impact of Donald Trump’s return to prominence. With crypto enthusiasts on…
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Thailand’s VAT hike: Restaurant and hotel sectors’ suggestions
A proposed increase in the value-added tax (VAT) rate from 7% to 15% has sparked significant concern among Thailand’s restaurant and hotel industries. Although the plans for the VAT hike are now reportedly scrapped, Sorathep Rojpotjanaruch, who leads the Thai Restaurant Business Association, expressed alarm over the potential consequences this tax hike could have on the already struggling restaurant sector.…
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Thailand seeks US direct flights amid airline hesitance
The Tourism Authority of Thailand (TAT) is actively working to initiate direct flights from the United States to Thailand, as local Thai airlines remain hesitant to establish these routes. This move follows the anticipated lifting of restrictions by aviation regulators next year. The US Federal Aviation Administration (FAA) recently provided a positive assessment of Thailand’s aviation safety standards. The Transport…
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Bank loan growth to shrink despite Q4 rise in retail lending
Bank loan growth is anticipated to shrink this year despite a slight rise in the fourth quarter, as banks maintain their cautious lending practices into 2025 to 2026 due to sluggish GDP growth, analysts report. Analyst Weerapat Wonk-Urai from CGS International Securities (Thailand) highlighted a rising ratio of underperforming loans in retail lending, prompting banks to enforce stricter credit standards…
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Thailand’s EV market hits a speed bump in incentive race (video)
Thailand’s electric vehicle (EV) market is experiencing a jolt as major manufacturers weigh the pros and cons of staying plugged into the nation’s incentive scheme amidst a slowdown. With the EV sector currently stuck in neutral, the Electric Vehicle Association of Thailand (EVAT) hints that automakers might be on the verge of bypassing subsidies and revisiting their production game plans.…
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Thailand’s 2024 inflation forecast set between 0.2% and 0.8%
The Commerce Ministry has forecasted that Thailand’s headline inflation for 2024 will range from 0.2% to 0.8%, settling at a midpoint of 0.5%. This projection is part of a broader economic outlook that anticipates a range of factors influencing price changes in the coming years. In 2025, headline inflation is expected to be slightly higher, between 0.3% and 1.3%, driven…
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Terror threat won’t deter Israeli tourists from Phuket, says PTA
Israel’s recent warning of a terrorist threat in Southeast Asia, following the murder of an Israeli rabbi in the United Arab Emirates, is not expected to impact Phuket, according to the Phuket Tourist Association (PTA). Despite the alert, Phuket remains a popular destination for Israeli tourists, with enhanced safety measures in place to ensure visitor security. The National Council of…
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Thailand proposes VAT hike, cuts income tax to boost economy
Finance Minister Pichai Chunhavajira has proposed a shift in Thailand’s tax strategy to bolster state revenue and enhance the nation’s economic standing. The plan includes raising the value-added tax (VAT) while reducing corporate and personal income tax rates. This approach aims to drive national development, increase competitiveness, and address domestic disparities. The Organisation for Economic Co-operation and Development recently set…
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PTT forecasts growth amid rising energy demand, Thai recovery
PTT Plc, Thailand’s state-owned oil and gas conglomerate, anticipates a stronger business outlook in 2024, buoyed by increased energy demand and an improving domestic economy, despite a forecasted dip in energy prices. The high tourism season is expected to drive up domestic oil consumption as both foreign and local travellers contribute to heightened energy usage. Factories are also projected to…
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Thai trade rises 6.18% to 1.51 trillion baht in 10 months
Thailand’s border and cross-border trade surged by 6.18% in the first 10 months of 2024, reaching a total value of 1.51 trillion baht (US$43.43 billion), according to Commerce Minister Pichai Naripthaphan. The government has set an ambitious goal of expanding this trade to 2 trillion baht (US$58 billion) annually by 2027. The export value during the period rose by 5.64%…
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Crypto cash-in: Thai bitcoin funds take investors to new heights
Thailand’s bitcoin mutual funds are riding high, with returns skyrocketing up to 30% since their debut in June. This impressive surge aligns with bitcoin’s upward trajectory, edging closer to the US$100,000 mark, a climb bolstered by policies linked to Donald Trump’s recent win in the US presidential election. In a move that has energised the market, the Securities and Exchange…
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Thai motorcycle exports surge 157% in October to 6.5 billion baht
Motorcycle exports from Thailand are on the rise, driven by increasing demand for completely knocked-down (CKD) units, according to the Federation of Thai Industries (FTI). The surge in exports during October reflects a growing interest from overseas markets, particularly in Asia, where countries are placing more purchase orders for reassembly purposes. Surapong Paisitpatanapong, Vice Chairman of the FTI and spokesperson…
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Thailand to finalise free-trade deal with EFTA by January
Thailand is set to finalise a free-trade agreement with the European Free Trade Association (EFTA) by January next year, aiming to boost its export market and draw European investors. This announcement from the Ministry of Commerce emphasises a strategic step forward in Thailand’s economic expansion. Commerce Minister Pichai Naripthaphan confirmed the completion of negotiations for the Free Trade Agreement (FTA)…
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Thai Airways secures 44 billion baht in share rights offering
The Government of Thailand announced plans to increase its investment in Thai Airways International (THAI) without reinstating the airline as a state enterprise. This decision was confirmed during a Cabinet meeting in Chiang Mai, where Finance Minister Pichai Chunhavajira provided updates on the airline’s debt restructuring efforts. During the meeting, it was revealed that THAI anticipates raising approximately 44 billion…
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Port, theme park, and F1 dreams: Tycoon’s vision for Jakarta
A Formula 1 race in Jakarta? That’s just one of the audacious ideas from Sugianto Kusuma, one of Indonesia’s wealthiest tycoons, as he transforms a former slum into a multibillion-dollar metropolis. From a bustling port to luxury hotels, the ambitious project is aiming to put North Jakarta on the global map. Kusuma, better known locally as Aguan, is spearheading the…
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Phuket sands turn to gold as Sansiri digs deep for economic jewel
The sandy shores of Phuket are set for a glamorous makeover as real estate mogul Sansiri Plc zeroes in on the island’s potential to become Thailand’s crown jewel for economic growth. With its eyes firmly fixed on this tropical paradise, Sansiri is revving up its plans, leveraging Phuket’s strategic importance to drive a real estate renaissance. Thanks to Thailand’s revised…
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Arip turbocharging TechXPro marketing to ignite gadget craze
In an audacious move to spark excitement in the gadget-hungry crowds, Arip has turbocharged its marketing budget for the Commart TechXPro event, aiming to fire up demand for cutting-edge IT products as the year wraps up. This tech extravaganza, which kicked off yesterday, November 28, at Bitec and runs until December 1, has seen its marketing purse swell from a…
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KEX Express delivers change: Shifting gears to new markets (video)
KEX Express (Thailand) Plc, formerly known as Kerry Express, is embarking on a dramatic overhaul. The delivery giant is set to close several branches and trim down its workforce as it shifts gears towards the business-to-business (B2B) and customer-to-customer (C2C) sectors. This bold pivot comes straight from the top, confirmed by company insiders keen to reposition KEX away from traditional…
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Thailand’s economy shifts into gear but auto industry hits a bump
Thailand’s economy is on a cautious upswing, buoyed by a surge in exports, a bustling tourism sector, and healthier private consumption. Yet, the road ahead isn’t entirely smooth, with the automotive industry hitting a bump. The Fiscal Policy Office (FPO) has laid bare the mixed fortunes in its recent October economic report, painting a picture of resilience tinged with challenges.…
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Thailand unveils plan to boost SMEs, tackle substandard imports
The Deputy Minister of Commerce, Napintorn Srisangpang, has reported on the outcomes of the second meeting of the subcommittee aimed at promoting and upgrading Thai SMEs, alongside tackling the issue of substandard foreign goods. The meeting, involving 20 related government agencies, categorised products into three groups: agricultural, consumer, and industrial products. To address these issues, a three-phase plan, short, medium,…
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Thai Airways gets a financial lift-off with ministry’s capital boost
The Ministry of Finance is set to propose a capital injection for Thai Airways International to the Cabinet next week. This move is designed to ensure the airline’s recovery while keeping the ministry’s shareholding below 50%, preventing a reversion to state enterprise status, as confirmed by Tibordee Wattanakul, Director-General of the State Enterprise Policy Office. This financial boost is part…
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Thailand’s manufacturing index poised for growth after 2024 dip
Thailand’s Manufacturing Production Index (MPI) is set to see a turnaround next year, with expectations of a 1.5 to 2.5% growth. This forecast comes as a recovery from the anticipated 1.6% contraction in 2024, largely attributed to weak consumer purchasing power and high household debt, as reported by the Office of Industrial Economics (OIE). OIE Director General Passakorn Chairat expressed…
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Banking on stability: Thailand hits a high note despite loan flatlining
The Bank of Thailand is striking a confident note, assuring everyone that the nation’s banking system is rock solid despite some worrying dips in loan growth. Their latest statement paints a picture of moderately strained resilience, with banking capital, liquidity, and loan-loss provisions standing firm. Loan growth took a hit in the third quarter of 2024, shrinking by 2% compared…
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True triumphs: EPL loss won’t sideline broadcast giants
In a surprise twist, True Corporation’s loss of the prized English Premier League (EPL) broadcasting rights won’t spell doom for its fortunes, assures the company’s chief executive, Manat Manavutiveth. Firmly entrenched in the sports content arena, True holds its ground, boasting a vast repertoire of both local and international programmes despite this glancing blow, Manat reassures fans and stakeholders alike. “Losing…
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