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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Ultimate parties at The Bay and Beach Club, Patong
Newly built and super stylish, The Bay and Beach Club is the hottest addition to the island’s most favorite resort neighborhood of Patong. Elegant and luxurious with a modern design and spacious rooms, the resort sets the benchmark for beachfront accommodation in Phuket. With a convenient location right on the sands of Patong Beach, a holiday spent at The Bay…
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Thai banks on 156 billion baht spending spree for recovery
“He hoped the airline could be profitable again in mid-2020.” Thai Airways International is seeking cabinet approval to buy or lease 38 new planes at an estimated cost of 156 billion baht. In the proposal 31 planes will be acquired over the next five years. Thai Airways president Sumeth Damrongchaitham says the proposal would reach Deputy PM Somkid Jatusripitak this…
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Prayut tentatively embraces China’s Belt and Road strategy for Thailand
Thai PM’s appearance at the second Belt and Road Initiative forum in Beijing last weekend suggests the luke-warm relations between China and Thailand persist. Whilst both nations portray a strong willingness to progress in their financial partnerships there is still a gulf between the two country’s preferred outcomes in the deals they are forging. Last time Beijing snubbed the Thai…
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Chinese continue to soak up Thailand’s condo glut
There are man reasons why Thailand is a favourite location for property buyers from Hong Kong and mainland China – the street food and great weather are just a part of the allure. Chinese nationals spent a record 40 billion baht (US$1.25 billion) on Thai properties in 2018, according to the Bank of Thailand. So who is buying Thailand’s condominiums?…
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Thai business sector drops 2019 export projections by 1%
The Thai Chamber of Commerce and Board of Trade are revising down Thailand’s 2019 export growth projections from 3.1% to 2.1%. They say several unfavorable external factors are contributing to the revised outlook. Thai PBS reports that Mr. Sanan Aung-ubonkul, vice president of TCC and BoT, says that, in order to maintain the 3.1% growth projection, the value of monthly…
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How the bike-share start-ups fell over
They were awful to ride and were the result of an even more toxic start-up culture in China. A few years ago the bike-sharing craze hit the tourist island of Phuket. It arrived amongst much flourish and ceremony. A year later the bike-sharing company bailed out. It was the same in many targeted tourist zones around the world. At the…
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Strong growth from key markets compensate for slight dip in Chinese tourists
by Thanchanok Phobut | Senior Coordinator, Thailand CBRE, international property consultants, believe that the Thai tourism market is still as resilient as ever. Earlier this year, the Ministry of Tourism and Sports announced they are expecting more than 40 million tourists to visit Thailand this year, up from the record-breaking 38.3 million last year. According to the latest figures, the…
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Buyback Option at VIP KATA Condominium by Phuket9
Phuket9 Company announces a buy-back option for VIP KATA Condominium Project with a rental return of 56% over 8 years. The first two buildings of VIP KATA Condominium were launched in July 2018. After one month in August 2018, Phuket9 commenced construction of the second phase – 2 more buildings including 209 apartments, 2 common swimming pools, rooftop gardens, restaurants and a kids club.…
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World Bank downgrades Thailand’s 2019 GDP growth to 3.8%
The World Bank is downgrading Thailand’s growth projections to 3.8% from 3.9% for 2019. This compares to last year’s 4.1% GDP. The Bank says that export growth has shrunk to 5.7% from last year’s 5.9%. The World Bank’s senior economist for Thailand, Mr. Kiatpong Ariyapratya, says that the Word Bank also projects that Thailand’s growth rate for next year would…
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Transport Ministry and State Railways told to pay HK company 11.9 billion baht
The long running issue of Bangkok’s ‘stonehenge’ has been resolved after the Supreme Administrative Court handed down its findings today over the disputed contract of the 60 kilometre link from central Bangkok to Don Mueang Airport. The Thai Ministry of Transport and the State Railway of Thailand have been dealt a costly blow after the Supreme Administrative Court today overturned…
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Phuket hotel watch – trends in 2019
by Bill Barnett of C9Hotelworks.com At the beginning of the year Phuket’s tourism and hotel sector was cautiously optimistic after a strong first half of 2018 and humbling second half. Key terms that kept popping up were Mainland Chinese, Thai Baht Appreciation, Elections and Supply Concerns. So today, with five months of performance under the belt in 2019 what are…
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‘Seastead’ set up off coast of Phuket
PHOTOS: Nation TV A Thai couple has successfully set up a ‘Seastead’ near Phuket. Seasteading is aiming to build floating societies with “significant political autonomy”. Nearly half the world’s surface is unclaimed by any nation-state, and many coastal nations can legislate “seasteads” in their territorial waters (like a “homestead” but wetter). The nation TV reports that website ‘Bitcoin.com’ and ‘Ocean.builders’…
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Thai Air Asia introduces Chiang Rai-Shenzhen route
Thai AirAsia is adding new flights to its Chiang Rai hub with a new direct route to China that starts on April 30. The new daily direct flight from Chiang Rai to Shenzhen (adjacent to Hong Kong) is being promoted this week with fares as low as 735 baht one-way. Bookings opened this week and the promotional fare remains the…
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Boeing reveals another software problem in 737 MAX jets
US jet manufacturer Boeing says it has found a new but “relatively minor” software error in its 737 MAX jet models. The aircraft’s anti-stalling system, the MCAS, is already being investigated as the possible cause of two deadly crashes. In both cases all passengers and crew died when the Boeing 737 MAX model jets fell out of the sky after…
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Losing face: ‘Face Off’ Dr Xeping charged with fraud
PHOTO: Bangkok Post Beauty expert Xeping Chaiyasan has been charged with fraud but continues to deny any wrongdoing claiming the allegation has been brought against her by people with malicious intent. Xeping is known as “Dr Xeping”, although she is not a medical doctor, became famous for the so-called Face Off cosmetic surgery services she promoted. Her arrest, along with…
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Forecasts for Thai export growth revised upwards
The meeting of the Joint Standing Committee on Commerce, Industry and Banking has revised upwards its forecast of export growth in 2019 to between 6.5 – 7.5% from the previous forecast of between 3.5 – 4.5%. The revision is in line with export growth in the past eight months, the committee said. Growth momentum is expected to continue during the…
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Hospitals train staff to recoup money from non-paying foreigners
“…many foreigners sought treatment for ailments or injuries at public hospitals and many failed to fully pay the bills, resulting in multi-million baht in debt.” The Public Health Ministry’s Department of Health Service Support has provided training to public hospitals in tourist provinces to help them collect fees from foreigners, director-general Dr Nattawuth Prasertsiripong said yesterday. The move is aimed at…
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Hermès opens its first store in Phuket at Central Floresta
Hermès has opened of its first store in Phuket at Central Floresta, the newly opened lifestyle shopping destination in the heart of the island, opposite Central Festival. As Hermès’ first venture outside the Thai capital, the new Hermès Phuket store makes a significant statement of expansion and confidence in the market. The new address in this world-renowned island will allow the…
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Thailand ‘slightly impacted’ from a no deal Brexit
The EU has agreed to postpone Brexit from next Friday and give UK PM Theresa May time to get her deal approved in Parliament. The PM had hoped to persuade the EU to delay the March 29 Brexit date, set in law, to June 30. But the EU country leaders have offered her two dates… A delay until May 22…
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Doubt over ‘majority support’ in survey about drilling near Si Thep historical park
Locals are up in arms about results from a public hearing into oil drilling project near the Si Thep historical park in Phetchabun province (just north of Bangkok). They are expressing doubt and concern over results of a public hearing that appear to show support for the project. Thai PBS reports that Mr. Prachuab Narkthien, chairman of the club of…
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Rock Thailand, Japanese start-ups eye Thai businesses
Noting Thailand as the new south east Asian regional innovation hub, the Japanese Embassy in Bangkok, in collaboration with Thailand’s Ministry of Digital Economy and Society, CP Group and True Corporation, launched Rock Thailand, a start-up incubation project. Rock Thailand is being used to open a stage for 10 top technology start-ups from Japan to present their business models to…
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King Power’s duty free monopoly under review
King Power Duty Free’s monopoly of duty free concessions at some of Thailand’s busiest airports may be coming to an end. The Thai PM has warned against the “monopolisation” of the country’s airport duty free sector ordering a review of the auctioning process that could threaten the multi-billion-dollar empire of current concession holder King Power. Thailand expects to welcome over…
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Bangkok now in the Top 10 list for most expensive Asian locations for expats
Bangkok has, for the first time, made it into the list of Asia’s top 10 most expensive locations for expats. A rise in average rental prices this year caused by an influx of expats from China and an increase in tourism traffic have hit expats and put the city in 10th place on the annual list, with an average US$3,880…
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Almaty Governor from Kazakhstan visits Phuket
PHOTO: Almaty Governor Mr Batalov Amandyk Gabbasovich presents Phuket’s Governor with an ideal gift The Governor of Almaty city in Kazakhstan dropped in on Phuket’s Governor today for discussions on tourism, investment and culture exchange as a new Sister City. This morning Phuket’s Governor Phakkaphong Tavipatana welcomed Almaty Governor Mr Batalov Amandyk Gabbasovich from Kazakhstan at the Phuket Provincial City…
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Thai Smile opens new Bangkok-Kolkata route
Jumping on the tourism bandwagon between India and Thailand, Thai Smile Airways has announced a new route from Bangkok to Kolkata, starting from March 31. The airline will operate five flights a week (Tuesday, Thursday, Friday, Saturday and Sunday) from Suvarnabhumi Airport in Bangkok to Kolkata, East India. The airline says the new route is “in line with its business…
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Top 5 Phuket (and Thailand) hotel trends for 2019
by Bill Barnett Moving through high season in 2019, hoteliers are starting to look for strategies for the rest of the year in order to not be reliant only on volatile mass markets. The following is C9 Hotelworks read on key trends for the year. Pressure On Demand – Good Hotels Perform, Others Left Out Diving into the numbers, the reality is that…
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Phuket hotels under pressure to perform
by Bill Barnett C9 Hotelworks Despite registering a record high 9 million passenger arrivals at the island’s gateway international airport in 2018, performance data is indicating that a slowdown in its double-digit growth rates over the past few years is on the horizon for Thailand’s resort destination of Phuket. While airport arrivals grew 8% year-on-year, the gains posted were at…
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Bangkok Airways spending 3 billion on new planes, airports
PHOTO: A Bangkok Airways ATR 72-600 dwarfed by a Thai Airways ‘jumbo’ Bangkok Airways is putting aside 3 billion baht to finance two new aircraft to support their growing passenger numbers. The local airline is forecasting a 3% growth in bums-on-seats this year to over 6 million passengers. The airline’s CEO says they hope to purchase two new ATR 72-600…
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Thai Airways says it will stick to ‘rehabilitation plan’ despite 11.6 billion baht loss in 2018
It hasn’t been a good week for Thai Airways as the national airline continues to fly passengers to their original destinations days after flights were cancelled and rescheduled due to Pakistan airspace closures. Even yesterday Thai Airways was reporting a backlog of up to 2,000 passengers they were hoping to clear before the end of this weekend. Meanwhile, it emerged…
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Go-Jek begins services in Thailand, challenging Grab
Indonesia’s Go-Jek ride-hailing service has now started up in Thailand under the banner ‘GET’. Nadiem Makarim, the founder and CEO says they will continue to move into the regional market currently dominated by Grab. Go-Jek, Indonesian for motorbike taxis (sort of), has launched in Thailand as ‘GET’ and will concurrently build presence in The Philippines through a recent financial-tech acquisition. The launch…
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