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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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...
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Thailand offers 5-year income tax exemption for foreign actors
The cabinet approved a 5-year personal income tax exemption for foreign film stars who earn income from foreign movies shot in Thailand. The government revealed they wanted to attract more film crews and expected the movie industry to generate about 17.5 billion baht over those 5 years. The PM’s Deputy Spokesperson, Ratchada Thanadirek, says that the government wants to encourage…
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Japanese restaurant owner makes slippery getaway
The owner of a popular Japanese buffet restaurant, Daruma Sushi, made a slippery getaway from Thailand last week leaving a trail of chaos behind and complaints from over 500 people. A number of those people had lodged fraudulent complaints against the owner with the police and the consumer protection agency. The owner disappeared a day before he closed all 27…
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Minimum Thai wage up to 650 baht for 16 careers
The Thai Royal Gazette has now officially announced the increase of the minimum Thai wage for workers in 16 careers, focusing on workers in construction, service and industrial industries. The wage is increased up to 650 baht per day from the former rate of about 313 – 336 baht per day. The policy was launched on June 10 and would…
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Thai nightlife midnight closing time under pressure this week
The current ‘official’ closing time for nightlife venues, in 31 provinces around Thailand (yellow and blue zones), is midnight. That all kicked in at the start of this month. But, hey, it’s Thailand and there’s also been plenty of venues, particularly in the tourist zones, where the midnight close time has been stretched a bit. But some netizens have noticed…
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Meta downgrades commitment to Facebook News service, tech giants don’t want to pay for News
Meta, aka Facebook, are looking to review commitments to pay publishers for their news articles. The payments, said to be 100s of million US$ a year to mostly larger news publishers, have shown little return to the Facebook platform or gained them many extra users. Some of the larger publishers, both in the US and elsewhere, are going to have…
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Central Pattana’s 10 billion baht investment in 37 new hotels
Central Pattana is launching 37 hotels in 27 provinces in Thailand with 4,000 rooms, valued at a total of 10 billion baht, under the Centara Hotels and Resorts brand. The kingdom’s largest retail property development and investment company aims to hire about 3,900 people across the country in the process. The company will focus primarily on second-tier locations, as it…
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Energy crisis will continue for 2 years says Bangkok Bank VP
The Russia-Ukraine conflict continues to be a political football as energy prices rise throughout the world. Russia is the world’s second highest exporter of crude oil after Saudi Arabia and accounts for around 10% of global petroleum production. International Energy Agency figures for December 2021 reveal the former Soviet state’s oil exports were 7.8 million barrels a day. But since…
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Thailand will not starve, says Commerce Minister
Deputy PM, and Commerce Minister, Jurin Laksanawisit, yesterday moved to ease fears of food shortages in Thailand on the back of recent protectionism measures introduced by neighbouring countries, export bans, and the ongoing Russia-Ukraine conflict threatening to worsen world food supplies. Jurin declared Thailand has an “abundance of food” produce and there will be no shortages despite the recent embargos.…
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Thailand’s biggest new attraction “Andamanda” opens in Phuket
Moisture and adventure meets Thai culture and mythology at Andamanda, Thailand’s biggest water park, covering 58 rai of land in Kathu, in Phuket, southern Thailand. On Saturday, Thailand’s former deputy prime minister Suwat Liptapanlop attended the water park’s grand opening. The new theme park is located on the main road to Patong, about 800 metres west of the Samkong intersection,…
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Lockdown in China stinks for Thai farmers
With no ending in sight in regards to lockdown in China, Thailand has been told it must source raw materials from other countries if it is to survive causing a stink in the farming industry. Thailand’s manufacturing industry and supply chains continue to bear the brunt of lockdowns in China’s major cities. China is the nation’s largest supplier of raw materials…
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Uncertainty hangs over Bangkok-Betong route as Nok Air considers its options
Nok Air’s flights between Bangkok and Betong, in the southernmost province of Yala, could be in jeopardy, as the carrier considers its options. The struggling low-cost airline is incurring financial losses on the Don Mueang to Betong route, according to Nok Air CEO, Wutthiphum Jurangkool. According to a Bangkok Post report, the airline expects losses to reach 40 million baht…
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Thai airlines say recovery being held up by high fuel prices
The head of commercial operations at Thai Lion Air says high oil prices continue to hinder recovery in the aviation sector. Nuntaporn Komonsittivate says that, while tourism is slowly improving since the easing of entry restrictions, airlines are still struggling. “The airline business has grappled with the pandemic for more than 2 years. Oil prices account for 30% of operational…
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Thai aviation industry says international flights at only 20% of pre-pandemic level
The Thai Airlines Association says that in the first 4 months of this year, domestic flights have returned to nearly 100% of their pre-pandemic level. However, international flights have still only reached 20% of pre-Covid-19 levels. TAA president, Putthiphong Prasatthong-Osot, says the lifting of some travel restrictions has led to an increase in passenger numbers, but adds that it will…
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Why Investors Spend Millions on Virtual Real Estate
Designer furniture, floor-to-ceiling windows, sun terrace, infinity pool – a few weeks ago, the Mars House luxury estate was sold for more than half a million US dollars. A bargain, one might think, given the rising prices on the real estate market. But the house does not exist physically, but purely digitally. You can only walk through it in augmented…
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Labour Minister says government considering increasing minimum wage to 492 baht
Thailand’s Labour Minister says the government is considering increasing the daily minimum wage to 492 baht. Suchart Chomklin was addressing the Anti-Fake News Centre in an attempt to clarify rumours circulating on social media, according to a Nation Thailand report. “The ministry has discussed the raise with representatives of workers’ unions and businesses based on the rate submitted by the…
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Nightlife venues in “blue zones” want permission to re-open from June 1
Thailand’s nightlife venues are demanding to be allowed re-open for business in “blue zone” tourism areas from June 1. According to a Bangkok Post report, the proposal is one of several being submitted to PM Prayut Chan-o-cha today. Sa-nga Ruangwatthanakul from the association of Khao San Road business operators says the proposals are being put forward by over 10 associations…
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Is Lazada coming to Europe?
Lazada might be coming to Europe! In efforts to target local European vendors, Alibaba Group reportedly plans to expand its Southeast Asian arm, Lazada, to Europe. Sources that told Reuters the news did not specify which European countries Lazada intended to expand to. Lazada is commonly known as an Asian version of Amazon. The sources said an overseas commerce head…
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More than 2,000 locals queue up to claim Covid-19 insurance after companies go broke
More than 2,000 Thais queued up at Suan Lum Night Bazaar Ratchdapisek in Bangkok to claim money from their Covid-19 insurance. Thais use the phrase “Found-Paid-Done” for the collection of insurance monies owed to them. The office of the Thai Insurance Commission is adjacent to the Suan Lum Night Bazaar. Some people had slept in front of the building for…
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Does Thailand need casinos? Study to be submitted next month
In May, a committee of Thailand’s cabinet members and politicians will submit a study on the feasibility of bringing casinos, and casino resorts to Thailand, to the country’s House of Representatives. The first resort would likely be in Bangkok, however the committee is discussing opening more in other tourist destinations after that. Rumours have yet to be confirmed that Las…
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Economic aftershocks of Russia’s invasion on Thailand’s economy
Nearly two months after Russian President Vladimir Putin decided to invade Ukraine, countries across Asia are bracing themselves for rising inflation and supply chain disruptions, following increasing sanctions on the Russian state. According to experts, the most affected country in Asia is Thailand, where commodity trading with its European counterpart has become almost impossible. Different types of commodities traded and…
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Director of Betong Airport transferred to inactive post
Oh dear, it all looked so promising… Following on from Nok Air’s declaration that it was suspending services to the newly-opened Betong Airport due to low uptake, the airport’s acting director has now been sacked. According to a Nation Thailand report, Duangporn Suwanmanee was removed from her position just 4 days after Thai PM Prayut Chan-o-cha arrived on the airport’s…
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Bangkok instant noodle shop draws thousands of teens
A Bangkok instant noodle shop that opened in October last year has drawn thousands of teenagers since its opening. The shop, called Good Noodle, is stocked with noodles from Indonesia, South Korea, China, Taiwan and Hong Kong. Good Noodle doesn’t just sell noodles, though. It also allows customers to to prepare their meals and eat there, even though the noodles…
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Burger chain closes its doors in Thailand, for good
Carl’s Jr. is planning to close all 6 of their locations in Thailand by the end of March. The local owners of the burger chain, R&R Restaurant Group, says they are no longer able to carry the losses and costs of operating the fast food chain. The chain first opened in Thailand in 2012 with its first store in Pattaya in…
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Fast-food chain A&W to close all branches in Thailand following huge Covid losses
The American fast-food giant A&W looks set to close all 26 branches in Thailand as the economic fallout of Covid-19 takes its toll. According to a Nation Thailand report, Global Consumer Plc, which owns the Thai franchise, is seeking board approval to close all branches in the kingdom. Global Consumer’s annual report shows that last year alone, A&W outlets in…
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Paypal will still work in Thailand until the end of the year
After Paypal warned of suspending its services in Thailand starting March 7, the company announced yesterday that it will in fact keep providing services in the country until the end of the year. Paypal had warned it would close services in Thailand after Thai authorities wanted it to verify all users’ identities, in order to prevent money laundering. But now,…
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MP questions submarine purchase from China, says it will be delivered without an engine
A MP from the Pheu Thai Party claims that the submarine that the government recently brought from China will be delivered without an engine after issues with a German supplier. The MP, and also Pheu Thai party leader, Yuttapong Charasathien, is criticising the 12.42 billion baht submarine purchase from a Chinese firm, saying the “deal lacked transparency”. Yuttapong says the…
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Overpriced mangosteens in Phuket go viral on Tiktok – how much per kilo!?
A Thai TikToker has shared a video of a street vendor in Phuket selling mangosteens at the rather steep price of 500 baht per kilogram, considered too expensive for Thai people (or anyone for that matter). The Tiktoker said she didn’t mean to offend the seller by claiming that the price was ridiculously high, but merely sought out other people’s…
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Global Electric Vehicle sales up 109% last year
In new research on the global electric vehicle market, Canalys estimates that 6.5 million electric vehicles (EVs) were sold worldwide in 2021, up 109% on 2020. EVs include fully electric and plug-in hybrid passenger cars. The total global car market grew just 4% in 2021 as it continued to struggle with Covid-19 restrictions and chip shortages. EV sales represented 9%…
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Siam Piwat aims to generate over 500 million baht to revive the economy and tourism industry
Press Release Siam Piwat emphasizes its vision “The Visionary ICON” with the strategy of “Creating Shared Values” by pursuing the mission to stand by Thais’ side in many crises and support Thailand to get through the hardship together. The company aims to boost the tourism industry that has been affected by the Covid-19 pandemic by generating over 500 million baht…
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Employees laid off in insurance firm collapse demand overdue payments
Former employees from an insurance firm bankrupted by Covid-19 have rallied outside the Office of the Insurance Commission, demanding overdue salaries and severance monies be paid. Around 300 employees of The One Insurance were made redundant when the firm collapsed, but have yet to receive payments and other compensation owed to them. According to a Thai PBS World report, one…
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