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.
-
Sponsored Limited-time deal: Save 20% on Cigna's expat health plans forever
Starting a new life abroad is exciting—new culture, new lifestyle, and new chances to grow. But living far from home also means taking steps to protect your health in unfamiliar surroundings. Without the right coverage, even small health issues can...
-
Popularity of online businesses in Thailand
Thailand is rapidly emerging as a digital commerce powerhouse. The growth is fueled by the country’s welcoming approach to global professionals through specialized visa programs, enhancing its appeal as an online business hub. The iGaming sector is a significant contributor to this trend, set to expand by 26.71% by 2027. The growth registered in the iGaming sector is due to…
-
Thai rice exports prediction rises amid high global prices
Thailand is now aiming to export 8.5 million metric tonnes of rice this year, an increase from their initial projection, as reported by Chookiat Ophaswongse, the honorary president of the Thai Rice Exporters Association. The decision comes as rice prices escalate in competing nations such as Vietnam. Chookiat informed that due to the high cost of Vietnamese rice, countries including…
-
Pattaya businesses backs discarded proposal for Chinese police patrols in Thailand
Pattaya Nightlife Business Association chairwoman Lamphueng Hamilton expressed her support for a now-discarded proposal for Chinese police officers to patrol popular tourist areas in Thailand. The proposal, originally mooted by the Thai government, has since been unequivocally dismissed. However, several Pattaya-based private tourism operators continue to champion the idea. Their support stems from a notable decrease in Chinese visitors, which…
-
Thailand PM invites Tesla, HP, and Analog Devices to invest
Thailand Prime Minister Srettha Thavisin extended an invitation to three significant American corporations to consider investing in Thailand, asserting the nation’s capability to act as their productive bases. The 61 year old prime minister recently visited the manufacturing plant of Tesla’s electric vehicles (EVs), where he participated in a trial run of the company’s cyber truck, which is set for unveiling…
-
Thailand’s digital wallet initiative raises concerns among tourism sector
The forthcoming 10,000-baht digital wallet initiative has raised concerns among tourism operators in Thailand. The scheme is viewed as primarily beneficial to the retail sector, leaving the tourism sector behind, which could have potential economic repercussions leading to a potential decline in domestic travel. Sanga Ruangwattanakul, the head of the Khao San Road Business Association, suggests the scheme offers limited…
-
New ESG fund could boost Thai stocks by up to 70 billion baht
Analysts predict that a forthcoming environmental, social and governance (ESG) fund could draw investments of between 20 and 70 billion baht into 114 stocks listed on the Stock Exchange of Thailand’s (SET) ESG index this year. The long-term savings fund, which is set to be established later this year, will be focused on investing in domestic ESG stocks and bonds.…
-
1962 Ferrari 250 GTO sells for US$51.7 million at Sotheby’s becoming second most expensive car
A 1962 Ferrari 250 GTO has been sold for a staggering US$51.7 million ( 18.6 million baht) at Sotheby’s in New York, making it the second most costly car ever auctioned. The sleek red vehicle had been held by an American collector for the preceding 38 years. The record for the highest auction price is still held by a Mercedes…
-
Global sugar shortage anticipated despite increased production in Brazil, Russia, China
A report by CovrigAnalytics released yesterday revealed an anticipated global sugar shortage. The deficit is estimated to be 2.4 million metric tonnes in the 2023/24 crop year, marking an increase of 200,000 tonnes from previous expectations. Despite increased sugar production in Brazil, Russia, and China, the shortfall in output from India and Thailand, due to inadequate humidity, will not be…
-
5G network development: NBTC explores 3500MHz band allocation
The National Broadcasting and Telecommunications Commission (NBTC) is exploring the potential of allocating a section of the 3500-megahertz band to foster the development of a private 5G network. This move is aimed at encouraging practical applications across industries and enterprises. Talks are underway between NBTC and various stakeholders including telecom operators, vendors, representatives from the Industrial Estate Authority of Thailand,…
-
JobThai reports 10.8% surge in labour demand
JobThai, a leading online recruitment firm, reported a 10.8% year-on-year increase in labour demand for the first three quarters of this year. The travel sector experienced the most significant rise in job recruitment, showing the strongest rebound post-pandemic. The company declared 1.74 million positions from January to September, marking a 10.8% increment compared to the same period last year, according…
-
Thailand smog sparks outcry, public anticipation for clean air act grows
The recurring smog season in Thailand’s northern provinces has sparked increasing public dissatisfaction. Notably, a 28 year old doctor in Chiang Mai, Krittai Tanasombatkul, who was diagnosed with lung cancer despite being a non-smoker, used his social media platform to question why the persistent PM2.5 pollution issue has not been resolved by the authorities. The Clean Air Act, seen as…
-
The Coffee Club expands with 24/7 and pet-friendly services in Bangkok
The Minor Food Group Plc subsidiary, The Coffee Club, is venturing into new market avenues with its innovative 24-hour service and pet-friendly concept at specific locations. This strategy has been adopted to increase sustainable sales and enhance customer experience. Nongchanok Stananonth, the General Manager, highlighted that their inaugural 24/7 Coffee Club at Staybridge Suites Bangkok, Sukhumvit 55, opened its doors…
-
Consumer confidence in Thailand soars to 44 month high
Last month witnessed a surge in consumer confidence for the third consecutive month, reaching its highest point in 44 months, according to the University of the Thai Chamber of Commerce (UTCC). Factors contributing to this uplift include the government’s initiatives to curb living costs, a boost in foreign arrivals, and a revival in exports. The UTCC reported that the consumer…
-
Content creator economy thrives in Thailand with Meta’s support
Meta, the company behind Facebook and Instagram, is cultivating a thriving content creator economy in Thailand, offering local creative talent numerous avenues to monetise their output. This initiative allows creators to offer unique content and experiences to their subscribers, thereby establishing a new stream of revenue. According to Meta, these revenue-earning opportunities encompass branded content, partnership ads, and Instagram subscriptions.…
-
Budget travel: Thai travelers choose affordability amid economic instability
In the wake of an unpredictable global economy, travellers are becoming increasingly cost-conscious. A recent survey by online travel agency Booking.com revealed that the majority of Thai citizens are apprehensive about the escalating cost of living and are thus curtailing their expenditure on travel, opting for budget travel instead. Michelle Gao, the regional manager for the Mekong region at Booking.com,…
-
Cyberattacks plague Thailand: Over 10 annual incidents cause significant losses
A recent survey reveals that more than half of Thai organisations have experienced over 10 cyberattack incidents in the past year, leading to significant financial losses. The report, released by US-based cloud connectivity firm Cloudflare Inc., highlights the urgent need for Thai businesses to strengthen their cybersecurity infrastructure. According to a data breach report commissioned by IBM, the global average cost…
-
Sweet setback: Thailand’s sugar exports face sticky situation with government controls
Thailand’s sugar exports, which sit second globally behind Brazil, are threatened with potential delays in the coming year. This comes after the Thai government implemented new controls to guard the domestic supply and curb smuggling. The newly instated regulations require official approval for the export of any quantity exceeding one tonne, a move that some traders have voiced concerns could…
-
Thai bankers reassure on mobile banking security following fraud incident
The Thai Bankers’ Association (TBA) has reassured its customers about the security and stability of mobile banking applications. The affirmation follows the recent arrest of a software programmer who developed a tool capable of bypassing facial recognition technology for transactions above 50,000 baht. It is mandatory for mobile banking users wishing to transfer between 50,000 baht and 200,000 baht per…
-
The Energy Ministry crackdown on petrol retailers stockpiling fuel after price cut
The Energy Ministry has pledged to take stringent action against oil retailers found to be illegitimately stockpiling fuel. This decision comes in response to complaints about a sudden shortage of oil at petrol stations, following the government’s decision to lower the prices of gasohol 91 and gasohol 95. On the morning of November 7, petrol stations across the nation began…
-
Economic hurdles hamper Thailand’s tourist market recovery despite visa exemptions
Tourism operators have indicated that economic challenges are hindering the recovery of tourist markets from China, Taiwan, and India, despite Thailand’s recent introduction of visa exemptions. These exemptions, implemented for Chinese visitors since September 25, have had limited effect due to perceptions of Thailand as unsafe and China’s sluggish economic growth, according to Thanet Supornsahasrungsi, ex-president of the Chon Buri…
-
Thai shippers predict less than 1.5% contraction in 2023 exports
The Thai National Shippers’ Council (TNSC) expressed confidence in a less than 1.5% contraction in the country’s export performance for 2023. This optimistic outlook comes on the heels of export growth recorded in both August and September and an expectation for continued orders in the year’s final quarter. TNSC Chairman Chaichan Chareonsuk cited the Commerce Ministry’s latest data, which showed…
-
Thailand’s inflation drop fuels economic slowdown fears
Concerns are heightening among analysts over Thailand’s first year-on-year inflation decline in 25 months. The drop in the Consumer Price Index (CPI) is viewed as an indication of increasing risks of economic deceleration and deflation. BofA Securities, previously known as Bank of America Merrill Lynch, highlighted that the inflation figure for October signified the first year-on-year decline since August 2021.…
-
ICONSIAM’s billion baht renovation: M and first floors set for stunning transformation
ICONSIAM Mall is preparing a substantial investment of 1 billion baht for a significant renovation of the complex, set to start in July 2024. The refurbishment is specifically targeted at the M and first floors of ICONSIAM, with the project expected to run until mid-2025. The company’s managing director, Supoj Chaiwatsirikul, explained that the ICONSIAM billion baht renovation will adjust…
-
Gold prices shine on: Traders stay bullish amid recent slump
The trading community’s optimism for gold prices remains undeterred despite a recent slump, attributing potential strength to a possible end to US Federal Reserve interest rate increases and the escalating conflict in the Middle East. On Friday morning, spot gold prices oscillated between US$1,978 and US$1,978 per ounce, marking an increase of US$3.02 or 0.15%. Concurrently, domestic gold bars traded…
-
Inflation rate in Thailand dips for first time in over two years
The Commerce Ministry of Thailand announced today that the country’s inflation rate has dipped for the first time in 25 months, primarily due to a drop in energy and food prices. This development is attributed to the government’s support measures. The consumer price index (CPI) noted a 0.31% reduction in October, compared to the same period last year. This contrasted…
-
Ayutthaya proposed as new logistics hub amidst Thai-Chinese rail development
The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) proposed to the government to establish Ayutthaya as a new logistics hub. This development is in anticipation of the increasing investment stimulated by the construction of the Thai-Chinese high-speed rail system. The suggested logistics hub would integrate with Ayutthaya’s existing rail, road, and river transport network. In addition, there is…
-
Tasty transformation: Thai instant noodles ride K-pop and J-pop wave
Thai Instant noodles, a staple in many households and offices, have evolved significantly in recent years, influenced by the growing popularity of Korean and Japanese pop culture in Thailand. As a result, manufacturers are diversifying their offerings, serving freshly prepared instant noodle dishes in their restaurants, petrol stations, and luxury retail complexes in Bangkok. The global demand for instant noodles reached…
-
Sizzle and supersize: Sizzler and McDonald’s cook up expansion goals in Thailand
Leading restaurant brands, Sizzler and McDonald’s are set on amplifying their reach, aiming to attract a wider range of customers and heighten patronage frequencies. The general manager of SLRT Co, Anirute David Collins, who oversees the operation of Sizzler Steakhouse, disclosed plans to inaugurate a Steak Lab concept Sizzler along Koh Samui’s coast on December 16. This restaurant expansion is…
-
El Nino-induced drought disrupts Indonesia’s rice production, hikes prices
Indonesia, Southeast Asia’s largest economy, is grappling with a severe disruption to its rice production due to the extreme El Nino phenomenon. This drought-induced shortage has led to a surge in rice prices, impacting small businesses and consumers. Yanto, an East Jakarta food stall owner who caters to the lower-income bracket, has seen a significant profit decline since August, unable…
-
Thailand economy: Fiscal position to suffer due to government policies like digital wallet scheme
Thailand’s fiscal position is predicted to face a downturn in the medium term, according to analysts, as the government advances populist policies such as the digital wallet scheme. BMI, a division of Fitch Solutions, forecasts that the nation’s budget deficit will escalate from 2.9% in the current fiscal year to 3.6% in the following fiscal year. This is due to…
Don't forget to check out some other things to do in Thailand - get help starting a business or finding a job in Thailand, buy Thailand property, rent a yacht or book a medical procedure worldwide.