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 How to reduce out-of-pocket medical expenses in Thailand?
Managing medical expenses in Thailand is important as healthcare costs continue to rise. The country’s healthcare system includes both public and private options, but even with the Universal Coverage Scheme (UCS) for citizens, many still face high out-of-pocket medical expenses....
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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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People have short memories. Why the Boeing 737 MAX will survive the current crisis.
If history is anything to go on people’s current fears about the Boeing 737 MAX jets will be short-lived. The make0ver of the venerable 737 plane, the most popular passenger jet in history, was supposed to set Boeing on a path to success. Airlines said it was the plane they wanted – perfect for short-haul, cheap to run, new efficient…
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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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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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Honda projects lower motorcycle sales for 2019
Honda Motor Company, the manufacturer of nearly 80% of Thailand’s motorcycles, is projecting another annual loss this year. New motorcycle sales this year are forecast to drop nearly 4% year on year to 1.72 million units. The forecast is unchanged from its January projection. The baht’s appreciation against the US dollar is leading to fluctuations in exports and lower prices…
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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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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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Burn baby burn – The Netflix cash strategy to stay on top
Netflix, the online TV streaming service, is gaining more viewers in the US and around the world, but is burning through astonishing amounts of cash in producing new content. In 2018 Netflix churned through $3 billion in losses. Negative cash flow that accelerated to $1.3 billion in Q4, more than double the year before. But it’s all a part of…
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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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Strong baht a concern for Thai hotel sector
by Bill Barnett Thailand’s baht performance against Asian currencies in 2018, was unmatched, with the exception of the Japanese yen. Commenting on the trend financial news Bloomberg have highlighted that in 2019, a further 4% in growth this year have it sitting at the top of the table. Oddly, one of the underlying factors stimulating the baht’s appreciation is the…
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Plastic surgery furore and first transgender contestant at Miss Universe in Bangkok
PHOTO: Spain’s Angela Ponce becomes first trans woman to compete for Miss Universe After the beauty dust has settled and the glitter is wiped away, it seems all is not well with the latest Miss Universe Pageant. Taking place in Bangkok recently, new revelations have surfaced surrounding one of its entrants and, notably, her plastic surgeon. Aesthetic and rhinoplasty surgeon,…
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Scrapped: Back to the drawing board for Suvarnabhumi Terminal 2 design
It’s back to the drawing board for the AoT and the new Terminal 2 project at Suvarnabhumi Airport. The contract to design the much needed second terminal has been the subject of a lot of bitter criticism in the Thai architectural community. The board of Airports of Thailand Public Company, the operator of Suvarnabhumi international and five other major airports…
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Thai exports fall 5.7 percent in January, year-on-year
Thai export results have dipped for the third straight month, falling more than 5.65% compared to a year earlier. The fall was a lot bigger than expected, according to the Thai commerce ministry. Shipments contracted 1.72% in December, compared to a year earlier as well. January’s export drop was due to falling shipments of rice, gold, electronics and cars, according to the…
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Man arrested over 50 million baht scam
A man has been arrested for allegedly defrauding around 100 stock market investors of about 50 million baht. Pol Lt Gen Suchate Hakparn, the Immigration Bureau chief who also heads the economic crime centre, says 52 year old Jittaraphon Nisarat was arrested on Tuesday at his apartment in Bangkok’s Phra Khanong district. Surachate says Jittaraphon was arrested under a warrant…
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Thai baht surges against weakening US dollar
The Thai baht is soaring to its highest level against the US dollar in more than half a decade. Analysts are expecting the Thai currency to continue marching past the 31 baht to the US dollar mark. Currency experts believe the baht’s strength could be partly due to the weakness of the US dollar as investors speculate on the current…
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Anti graft body raises concerns about contract bidding at Suvarnabhumi
“The private anti-graft watchdog called on Thai media and the public to keep a close watch on the conduct of the company calling for bids.” The Anti-Corruption Organisation of Thailand is expressing concerns over alleged lack of transparency in two major contracts under review at Suvarnabhumi Airport. In a statement issued yesterday, the private anti-graft watchdog called on Thai media…
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Airbus scales back in the UK and invests more in Thailand’s new aviation maintenance hub
by Supalak Ganjanakhundee Uncertainty over Thailand’s political situation is apparently less of a concern for Airbus than the political uncertainties in the UK with Brexit looming. Whilst Airbus is pulling out some of its manufacturing in Britain, the European consortium is now looking to Thailand for new maintenance and repair facilities to help service the rapidly growing ASEAN aviation sector.…
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Thailand’s property market surges with Chinese confidence remaining high
Chinese investors are still spending big in Thailand’s property market. The country’s ‘teflon’ tourist reputation and uncertain national election outcomes are doing little subdue investor enthusiasm. Two coups in a decade have done little to cool enthusiasm in Thai property. Tourists from Asia’s top economy continue to recognise Thailand as a top spot for holidays, and investment. According to data Chinese real…
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Americans are flocking to Asia. Why?
Asia is sexy. From K-Pop sensation BTS topping the Billboard charts to “Crazy Rich Asians” owning the summer box office in the US, Americans can’t get enough of Asian film, music, and of course, noodles. “It’s all a sign of the Asianisation of the world”, reports CNN. “Asia has the world’s lowest taxes. Despite having some of the world’s largest…
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AoT defers final decision about new BKK airport terminal until February 20
PHOTO: Rendering of the new proposed Terminal for Suvarnabhumi Airports of Thailand has set a deadline of February 20 to decide whether it will go ahead with the construction of the much-needed second terminal at Suvarnabhumi Airport, the country’s largest and busiest airport. The 42 billion baht project has been embroiled in controversy amid criticism from organisations including the Council…
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Invacio Research Analytica takes aim at equivocator’s in politics
ADVERTISING Invacio Research Analytics Thailand, a group subsidiary of Invacio founded by William J D West and led by Linleeya West (Thai – Swiss Educated), have just launched a multi-agent AI-driven analysis system that is designed to clean up politics and expose deceptive practices and statements in video presentations and interviews. https://www.youtube.com/watch?v=bxSxcJ_PsY4&feature=youtu.be Invacio, as a company, is intent on providing…
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Reflections #2 – Thailand Tourism Forum – ‘Chindia Tourism’
‘CHINDIAN’ Tourists – Same Same or Different? by Wimintra Raj – hotelintel.co If you’re running a hotel or any business related to the local tourism industry in Thailand, this is an article you need to read, then read again. It was just one of the many presentations at the annual Thailand Tourism Forum held in Bangkok recently. “For the third…
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Twinpalms Hotels & Resorts appoint new director of sales & revenue
PHOTO: Paritchawan Kraiponrak (Jom), the new Director of Sales & Revenue at Twinpalms Group Mrs Paritchawan Kraiponrak (Jom) is warmly welcomed back into the Twinpalms group to take the position of Director of Sales & Revenue for the Phuket-grown hospitality brand. With well over two decades of solid work experience within Phuket’s hospitality industry and a master’s degree in ‘Hospitality &…
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Pattaya faces a condo oversupply
Last year, Pattaya saw 10,239 condominium units launched with a combined worth of 55 billion bHT (USD1.7 billion), a huge jump from JUST 2,192 units in 2017. Phattarachai Taweewong, the Senior Manager of Collier’s research department, told Bangkok Post that a large portion of the homes remain unsold due to the massive supply last year, The research department’s research showed that…
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Thailand’s marine industry unites around single yacht show
The fourth Thailand Yacht Show & RendezVous has now wrapped up with many of the exhibitors praising the new format and noting the sales and contacts made during the four day marine exhibition. The exhibit was held between January 10-13 at the Royal Phuket Marina. Leading international yacht dealers, brokerage houses, charter agencies and marine suppliers were there to showcase…
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Some restrictions lifted for superyachts in the region
PHOTO: katarocks.com Thailand is poised to ease rules on bareboat charters as well as introducing new measures to attract more luxury and super yachts into the region. The new measures were laid out in a presentation called “Highlighting Strategies for Attracting Yachts and Improving Safety at Sea” held at the 2019 Thailand Yacht Show and Rendezvous in Phuket. Gordon Fernandes,…
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Incentive travel the fastest growing segment in Asia Pacific events business
PHOTOS: ttrweekly.com Responding to a study that says incentive travel is the fastest growing segment in Asia-Pacific’s events business, the Thailand Conventions & Exhibitions Bureau is adapting its game plan to tap into this lucrative market. Last week, TCEB hosted the premier event, SITE’s 2019 Global Conference in Bangkok, a worldwide association dedicated exclusively to growing incentive travel. SITE’s most…
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