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 Moving with family? Here’s how to cut health costs in Thailand
Relocating to Thailand with your family brings exciting new opportunities, but it also comes with the challenge of managing healthcare costs in a new system. Thailand has both public and private healthcare options, each offering different prices and quality of...
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Pop Mart makes a splash in Pattaya with new By the Sea store
Global art toy phenomenon Pop Mart is turning heads once again, this time with the grand opening of its brand-new By the Sea store at Central Pattaya Shopping Centre. The quirky, seaside-themed outlet is the latest addition to Pop Mart’s Thai expansion, cementing its position as a major player in the booming collectable art toy market. The move follows Pop…
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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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Cost to move from the US to Thailand: A complete expat budget guide
Moving to a new country can be both exciting and overwhelming, especially when you’re transitioning from the USA to Thailand. You might be dreaming of sandy beaches and bustling markets, but before you pack your bags, it’s crucial to understand the costs involved in this big change. From shipping your belongings to planning your travel and finding accommodations, every detail…
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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 tackles high household debt with new relief programme
Household debt continues to pose a significant challenge for policymakers in Thailand, with fears it could destabilise the economy. The Fiscal Policy Office reports that it stood at 89.6% of GDP by the second quarter of 2024. This marks a slight decrease from the first quarter’s 90.7%, yet it remains alarmingly high when compared to recommended thresholds. Pornchai Thiraveja, director-general…
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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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Thai economy forecast: 109 billion baht boost from consumer spending
Predictions for the new year indicate a robust economic circulation of 109 billion baht, driven by consumer spending, according to findings from the University of the Thai Chamber of Commerce (UTCC). While this suggests a positive economic trend, many individuals remain cautious with their expenditures. The UTCC’s survey, conducted recently, highlights an anticipated 3.2% increase in spending compared to last…
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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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Grab sees 400% growth in Thailand’s ride-hailing-delivery services
Leading super-app Grab released its year-end statistics for on-demand transport and delivery services in Thailand, revealing significant growth and trends in 2024. The company reported an impressive increase in its ride-hailing and delivery services, driven by both local and international demand. Grab’s ride-hailing services have remained a favourite among users, with the GrabCar Saver option experiencing a remarkable growth of…
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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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Thailand targets US$308bn exports by 2025 amid trade optimism
The Commerce Ministry has ambitious plans to boost Thailand’s export sector, setting a target of 2% to 3% growth for 2025. The goal, projected to bring in US$305 to US$308 billion, follows a robust performance in 2024, where export growth is expected to reach 5%, generating a record US$300 billion. These figures reflect optimism driven by the electronics, agricultural, and…
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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’s SET ESG Ratings 2024 hits milestone with 228 companies
The Stock Exchange of Thailand (SET) reported a significant achievement with its ESG Ratings 2024, as 228 listed companies have been recognised, marking a new milestone in sustainable investments both locally and globally. This year’s ratings awarded AAA status to 56 companies, AA to 80, A to 71, and BBB to 21. These firms together account for 82% of 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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Gold rush: Prices dip, enthusiasts dig in for a buying spree
Gold enthusiasts are on high alert as the Gold Traders Association (GTA) announced a dip in prices, sparking a potential buying frenzy. Today, December 16, the price of gold jewellery has slipped to 43,400 baht per baht-weight, a 50 baht drop from yesterday’s closing. At 9.03am, the GTA updated their website, revealing the domestic buying price for gold bullion at…
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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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