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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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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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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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 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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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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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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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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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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Thailand leads ASEAN in gold-driven financial growth, inclusion
Gold’s role in providing financial stability amid global uncertainties is gaining attention as the world moves into 2025. Traditionally linked to prosperity and wealth in Thai culture, gold remains a symbol of celebration during significant family events such as weddings and birthdays. Despite societal changes, gold’s cultural significance continues to drive strong consumer demand in Thailand, evidenced by the nation’s…
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Cupid stunt: Matchmaking service finds heart of Bangkok economy
Bangkok’s leading matchmaking service is tuning its heartstrings to the economic beat as whispers of a slowdown loom large on the horizon. With the tourism season in full swing, Bangkok Matching is rolling out a suite of strategies to woo foreign travellers hoping to find love while enjoying their Thai escapades. At the helm is the dynamic Kulchulee Subsinudom Nylander,…
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Lost world found: Centara’s splash-tacular revamp makes waves in Pattaya (video)
Centara Hotels & Resorts is pulling out all the stops with a sensational upgrade to its famed Lost World-themed haven, Centara Grand Mirage Beach Resort Pattaya. This month sees a dazzling debut of new attractions designed to captivate guests of all ages, promising a holiday like no other. Making a splash are four newly unveiled water park zones. Get ready…
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ADB revises Thailand GDP forecast, warns of slower Asia growth
The Asian Development Bank (ADB) revised its economic forecasts today, upgrading Thailand’s Gross Domestic Product (GDP) projection for this year while maintaining next year’s estimate. However, the bank warns that developing Asia is set to experience slower growth than anticipated, with potential challenges looming due to possible changes in US trade policies under President-elect Donald Trump. Developing Asia, encompassing 46…
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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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Thailand’s business community urges govt for festive financial jolt
As the new year approaches, Thailand’s business community is pulling no punches in calling for urgent government intervention to jump-start the economy. With suggestions ranging from tax breaks to debt relief, industry leaders are clamouring for robust stimulus measures to invigorate growth. Nath Vongphanich, President of the Thai Retailers Association, is at the forefront of this push, advocating for a…
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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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Taxing times: Thai PM backtracks on VAT hike after public outcry
In a dramatic U-turn, Prime Minister Paetongtarn Shinawatra pulled the plug on a proposal to crank up the value-added tax (VAT) following a storm of public outrage. The PM took to X (formerly Twitter) today, December 6, decisively posting: “No VAT adjustment to 15%.” This swift decision emerged from a huddle at Government House with Finance Minister Pichai Chunhavajira and…
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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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