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 5 ways retirees in Thailand lose money (and how to stop it)
Retiring in Thailand can be affordable and enjoyable, but many retirees lose money due to common mistakes. High living costs, scams, and unexpected expenses can quickly drain savings. There are five ways that retirees in Thailand can lose money and...
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Mama mia! Noodle giant stirs up billion-baht expansion plan
Thai President Foods Plc, famed for its beloved Mama instant noodles, is cooking up a major expansion plan worth over 1 billion baht. This bold move aims to ramp up production and expand plant facilities within the year. General Manager Pun Paniangvait unveiled that a hefty 777 million baht will be channelled into domestic enhancements. This budget will power the…
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Gold rush hour: Steady prices spark buyer frenzy in Thailand
Today’s gold prices in Thailand hold steady, sparking a sense of urgency among potential buyers. According to the Gold Traders Association (GTA), gold jewellery is priced at 43,650 baht per baht weight, mirroring closing figures yesterday, January 5. As announced at 9am today, 96.5% pure gold bullion is being bought at 43,050 baht per baht weight and sold at 43,150…
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Thailand’s household debt set to decline faster than expected
The Bank of Thailand is optimistic as the nation’s household debt-to-GDP ratio is projected to fall more swiftly than previously anticipated. This promising outlook is driven by ongoing debt reduction strategies and the introduction of a new debt relief programme. According to the central bank’s latest financial stability report for 2024, there’s a noticeable drop in the household debt-to-GDP ratio,…
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Bitcoin soars as ETFs and halving spark a crypto frenzy
Bitcoin soared to dizzying heights last year, propelled by a swarm of spot Bitcoin exchange-traded funds (ETFs) introduced in January and April’s dramatic supply-halving event. These triggers, combined with a surge of interest from institutional investors, catapulted Bitcoin into the limelight, transforming it into a mainstream asset category. The crypto kingpin shattered records, peaking at an astounding US$100,000 in early…
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Thailand has a unique approach to casino gaming and entertainment
Thailand, often called the “Land of Smiles,” is famous for its rich culture, stunning landscapes, and bustling cities. However, when it comes to gambling, the country offers a unique twist. “Officially, gambling is heavily restricted in Thailand, with the exception of the national lottery and horse racing” said UK casino JeffBet. While traditional casinos are not legally permitted, the demand…
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Thailand’s economy threatened by Trumponomics 2.0 and China’s slowdown
Thailand’s economic future faces uncertainty as Trump’s economic policy revision, dubbed Trumponomics 2.0, emerges as a significant threat to its growth in 2025. An independent academic highlights this as a primary concern, alongside other challenges including household debt, investment and interest rates, China’s economic slowdown, and geopolitical tensions. Trumponomics 2.0 is poised to impact Thailand’s GDP adversely by an estimated…
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Thailand’s central bank launches phase two of sustainability framework
Thailand’s central bank is advancing its commitment to sustainability with the introduction of phase two of the Thailand Taxonomy, a strategic framework designed to guide banks and local businesses towards environmentally sustainable practices. This initiative, spearheaded by the Bank of Thailand, seeks to standardise the transition to sustainable operations across various sectors. The Thailand Taxonomy Board has unveiled a draft…
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Thailand to boost growth with new European trade deals
The Commerce Ministry is gearing up to enhance Thailand’s economic landscape by actively pursuing more free trade agreements (FTAs) next year, aiming for a 3% economic growth rate. This strategic move was detailed by Commerce Minister Pichai Naripthaphan following a crucial meeting with ministry officials and Federation of Thai Industries (FTI) executives, including FTI chairman Kriengkrai Thiennukul. Prime Minister Paetongtarn…
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From seed to fortune: The Chearavanont family’s billion-dollar rise
What started as a humble seed shop in Bangkok has blossomed into one of the world’s wealthiest empires. The Chearavanont family, with a staggering net worth of US$44.1 billion (approximately 1.5 trillion baht), ranks 19th on Bloomberg’s list of the 25 richest families globally. Here’s how they did it. A century ago, brothers Chia Ek Chor and Chia Siew Whooy…
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Thailand unveils clean energy plan with 2.9 trillion baht investment
Thailand is advancing its commitment to reducing greenhouse gas emissions with the introduction of a new power development plan (PDP) emphasising clean energy usage. This strategic initiative is part of the broader National Energy Plan, which will be implemented from 2024 to 2037. The plan aims to transform the country’s energy landscape by prioritising renewable energy sources over fossil fuels.…
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Thai restaurant sales to soar 15% over new year period
Central Restaurants Group (CRG) anticipates a significant increase in sales within the Thai restaurant industry during the new year festive season, driven by a boost in dining out and a rise in foreign tourist numbers. This optimism comes as Thailand records approximately 33.5 million foreign visitors from January to mid-December. Leading the arrivals are Chinese tourists, numbering 6.4 million, followed…
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Government extends excise tax cut for entertainment venues to boost tourism
The government has decided to extend the current excise tax reduction for entertainment venues, such as pubs, bars, nightclubs, and cocktail lounges, for another year to bolster tourism. This decision was announced by Deputy Finance Minister Paopoom Rojanasakul following a Cabinet meeting held yesterday, December 24. The extension will see the excise tax rate decrease from 10% to 5% of…
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Thailand considers Bitcoin payment trial in Phuket for tech tourists
Thailand is considering a groundbreaking initiative proposed by former Prime Minister Thaksin Shinawatra to test Bitcoin payments in Phuket, aiming to enhance the country’s appeal to technology-forward tourists. This proposal, however, requires the Bank of Thailand to conduct a detailed examination of the potential risks involved, as highlighted by Gulf Binance, the local division of the global cryptocurrency leader, Binance.…
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Thai Oil may replace contractors over unpaid wages in fuel project
Thai Oil Plc is contemplating altering the contractors for its Clean Fuel Project (CFP) due to unresolved disputes over unpaid wages to construction workers, potentially causing further delays. This development marks a significant moment for the country’s largest oil refinery by capacity. Unincorporated Joint Venture (UJV), which includes Petrofac South East Asia Pte Ltd, Saipem Singapore Pte Ltd, and Samsung…
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Malaysia Airlines grounds Airbus A330neo after technical issues
Malaysia Airlines has temporarily grounded its newly acquired Airbus A330neo aircraft due to technical problems, as reported by the Business Times. Following its debut flight to Melbourne, the aircraft experienced multiple technical issues, prompting the airline to take swift action. The national carrier of Malaysia received the Airbus A330neo at the end of November and has plans to acquire an…
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Thailand secures South Korean investment in Smart Park project
The Industrial Estate Authority of Thailand (IEAT) has successfully attracted an investment commitment of US$500 million (approximately 17 billion baht) from South Korean investors for the development of Smart Park. The initiative, part of the Now Thailand – The Golden Era campaign, aims to position Thailand as a prime destination for international business ventures. Yuthasak Supasorn, Chairperson of IEAT, welcomed…
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Thailand’s credit card industry faces toughest challenge in 20 years
The credit card industry in Thailand is bracing for its most formidable challenge in two decades, a situation attributed to an anticipated weak economy next year, as highlighted by the Thai Bankers’ Association’s credit card club. Atis Ruchirawat, chair of the club, emphasised that the unsecured loan sector, encompassing credit cards and personal loans, has already felt the tremors of…
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Thai baht to fall to 35.50 against US dollar by 2025
Kasikorn Research Centre (K-Research) forecasts that the Thai baht will depreciate, reaching 34.50 to the US dollar by the end of this year and sliding further to 35.50 in 2025. This prediction comes as new US government policies are expected to exert pressure on the Chinese yuan next year. The baht recently hit a three-month low of 34.61 against the…
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Revenue department sees 2.1% rise in revenue collection
Collection by the Revenue Department has shown a notable increase in the first two months of fiscal 2025, with a 2.1% year-on-year growth. The surge is largely credited to initiatives aimed at integrating individuals outside the tax system into compliance, along with intensified measures against tax evasion. Director General Pinsai Suraswadi reported that in October, the department successfully collected 146…
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Illegal foreign tour guides threaten Thailand’s tourism industry
The growing issue of illegal foreign tour guides in Thailand, exacerbated by extended visa-free stays and lax enforcement, is concerning industry experts. The Professional Tourist Guides Association of Thailand has raised alarms about foreigners illegally managing both tour companies and guide services in major tourist destinations. Recent social media reports highlighted an incident involving an unauthorised Russian guide leading a…
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Thailand GDP set for 3% growth despite global economic challenges
The Tisco Economic Strategy Unit (ESU) forecasts a 3% growth in Thailand’s GDP for the coming year, aligning this growth with a projected 3.2% expansion of the global economy. This comes amidst concerns over potential trade wars and rising inflation, which may pose challenges to these optimistic forecasts. Economist Methas Rattanasorn highlighted that the anticipated growth for Thailand is driven…
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Thai Cabinet approves increase in foreign worker quotas
The Thai Cabinet has given the green light to a proposal aimed at addressing the current shortage of foreign workers in businesses by increasing their numbers. This initiative comes in response to the outdated laws that have been in place since 1979, which limit foreign workers to 100 per business and stateless workers to 50. Government spokesperson Jirayu Huangsab stated…
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2025 kicks off with a salesplosion from the Commerce Ministry
Hold onto your hats, shoppers: the Commerce Ministry is kicking off 2025 with a bang, unveiling its sensational New Year Mega Sale 2025. With jaw-dropping discounts of up to 80% on over 40,000 products and services, this is a shopping spree you won’t want to miss. Over 300 vendors are rolling out the red carpet, from major manufacturers and department…
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Thailand urged to cut interest rates amid low inflation concerns
Finance Minister Pichai Chunhavachira has reiterated his call for a reduction in Thailand’s policy interest rate to boost inflation. He urged the Monetary Policy Committee (MPC) to announce another rate cut, citing the current low inflation rate as a driving factor. The Finance Ministry continues to provide economic data and engage in discussions with the Bank of Thailand, although the…
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Chinese tourists set to keep Thailand’s travel market cruising
The outlook for the Chinese inbound market to Thailand next year is expected to remain steady, with projected arrivals hovering between seven to eight million, according to the Association of Thai Travel Agents (ATTA). This forecast arises amidst China’s persistent economic difficulties and the anticipated tariff hikes from the incoming Trump administration. ATTA President Sisdivachr Cheewarattanaporn expressed scepticism about Thailand…
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Thai SMEs to boost exports to China via e-commerce
The International Institute for Trade and Development (ITD) plans to propose a strategic initiative to the Ministry of Commerce, focusing on cross-border e-commerce (CBEC) to aid small and medium-sized enterprises (SMEs) in expanding their exports to the Chinese market. This move aims to provide SMEs with new opportunities to enhance their presence in China through CBEC channels. Wimon Punkong, Deputy…
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Thailand and Malaysia aim for US$30 billion trade by 2027
Thailand and Malaysia set an ambitious goal to boost bilateral trade to US$30 billion by 2027, strengthening economic cooperation in pivotal sectors such as trade, investment, border connectivity, and tourism. The agreement was reached during Prime Minister Paetongtarn Shinawatra’s recent official visit to Malaysia, where she engaged in discussions with Malaysian Prime Minister Anwar Ibrahim. The two-day visit culminated yesterday,…
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Living the Thai life: Kingdom rolls out red carpet for big spenders
Thailand is upping the ante in its tourism game, spotlighting the allure of luxury and high-spending travellers to power up the economy post-pandemic. Known for its warm hospitality, stunning landscapes, and world-class attractions, the nation is seeing a surge in plush hotels and branded properties to cater to this elite crowd. The Tourism Authority of Thailand (TAT) set its sights…
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Excise Department to reassess retail prices for higher tax revenue
The Excise Department is set to reassess the recommended retail prices that form the foundation for calculating excise taxes. This revision comes as many products’ current prices are estimated to be 5% to 10% below the actual selling prices. According to Bangkok Post, a source from the department indicated that setting recommended retail prices too low results in reduced revenue…
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Thailand unveils tax reform: Corporate tax cut, VAT hike rejected
Finance Minister Pichai Chunhavajira unveiled a bold tax reform plan to supercharge state revenue, drive national development, and level the economic playing field in Thailand. The announcement was made at the Sustainability Forum 2025, an event championing sustainable economic growth. Central to the plan is slashing the corporate income tax rate to 15%, aligning with OECD guidelines to keep Thailand…
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