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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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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Exports rise nearly 7% in August, the highest this year
Thai exports have gown at 6.68% to US$23.8 billion during the month of August, the highest gain so far this year. The announcement from Ms Pimchanok Wornkhorporn, director of Trade Policy and Strategy Office of the Commerce Ministry. Exports for the first eight months of this year rose 10.03% and, for the rest of 2018, are expected to grow 8…
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Phuket now has a world class shopping hub
by Tim Newton The population of Thailand is around 70 million people. I think most of them were at the opening night of the new Central Floresta on September 10. As far as openings go this must have put a smile on the Central owners and management involved in bringing this new shopping experience to fruition – it was a…
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Habitat Group launch Walden Sukhumvit 39
ADVERTISEMENT Following the success of Walden Asoke launched in March this year, and now 90% sold, the Habitat Group is launching its second city centre luxury low rise condominium under the Walden brand – Walden Sukhumvit 39. Developed under the concept of “Low Rise, High Living”, the 950 million baht development embraces nature in its design. With end-users and investors…
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Bangkok’s MRT given the green light to run Phuket and Chiang Mai light rails
Bangkok’s subway operator. the MRTA (Mass Rapid Transit Authority) has been given the green light to invest in the proposed Phuket/Phang Nga and Chiang Mai light rail services. The MRT is also going to run the service when the services are eventually constructed. The cabinet has approved some of the basic details of the project that will give the MRTA…
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The new Central Floresta is open
10.40am Monday, September 10, 2018. The new, highly-anticipated (by locals) Central Foresta opens it doors for the first time. Opposite the ‘old’ Central Festival, located at the Darasamuth Intersection, the new Central Floresta creates a ‘central’ shopping destination for the island to match anything in Thailand. The new Central Floresta combines the highest-end luxury brands with Peranakan-themed food halls, floating…
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A Mandarin for Phuket
PHOTO: The Mandarin Hotel Sanya Island One of Asia, and the globes, leading luxury hotel brands, Mandarin Oriental has inked a deal for a Phuket property. Mandarin Oriental, Phuket will be located on one of the undeveloped beachfront sites still to be found on ‘Millionaire’s Mile’ on the west coast of Phuket island. It will occupy 9.5 hectares of land in…
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Phuket has Golden future for its sister city
by Chongchit Buchanan Australia’s Gold Coast city and Phuket will sign a letter of intent to establish themselves as sister cities tomorrow (September 10). The intent of the agreement is to explore a stronger relationship between the two municipalities and create international business opportunities. Gold Coast Mayor Tom Tate will travel to Phuket to sign the agreement with his Phuket…
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Confidence levels in the Thai economy continue to rise
Consumer confidence in Thailand is riding high. In fact it’s at its highest level in over 5 years. A growing economy and better prices for farm products is believed to be part of the continuing confidence. Regions in the country which have a high level of manufacturing or tourism are reaping the benefits of the growing economy. A survey by…
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Thailand emerging as a regional blockchain leader
While United States regulators are still trying to figure out how to think about cryptocurrencies, Thailand’s government is already mapping out its own central bank digital currency. Tech Crunch says this is just one of numerous examples how Thailand has emerged as one the most interesting cryptocurrency and blockchain countries in Southeast Asia during 2018. The Thai government has become increasingly…
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Pattaya attracting major government and international brand investment
As part of Pattaya’s make-over to attract high-scale tourism back to the popular seaside city, some of the biggest names in local and international leisure, retail and sport are putting their money down to invest in the region’s future. And the Thai government is investing heavily too as part of its commitment to rebrand the area and bring it up…
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Goodbye e-commerce, hello ‘new retail’
PHOTOS: Alibaba Group Our lifestyles are quickly evolving as the digital age kills off the ‘old’ and the ‘new’ inexorably creeps in to our daily life. Goodby Kodak and Polaroid – hello smartphone cameras and Facebook. Goodbye newspapers – hello instant news websites, blogs and live-streaming. The same is happening to retail as the shopfront moves to websites and screens…
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Former Thai actor arrested over Bitcoin scam
A once-popular actor has been charged with convincing foreigners to transfer to him more than 5,500 bitcoins as an investment. (5,500 Bitcoin are worth around 210,000 baht or US$6,300 each as of today) Police picked up 27 year old Jiratphisit Jarawitchit today at midday at a shopping mall in Bangkok’s Chatuchak district. The Criminal Court issued arrest warrants for him…
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Invacio Research Analytics: Pushing the boundaries of artificial intelligence and embracing cryptocurrencies
Newly established in Phuket, Invacio Research Analytics, a group subsidiary of Invacio founded by William J D West and led by Linleeya West (Thai/Swiss educated), are bringing Artificial Intelligence to Thailand and also bridging the gap between established currencies and the emerging world of cryptocurrencies. Through a sister subsidiary company, Invacio AAP Holdings (Seychelles), under the Invacio umbrella are all…
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Thavorn Hotels & Resorts receives Thailand MICE Venue Standard Award
Thavorn Hotels & Resorts is proud to announce its certification of Thailand MICE Venue Standard (TMVS) by Thailand Convention and Exhibition Bureau (TCEB). The certification assesses venues in three key areas – physical, technological, and service requirements. Certified venues appear on an Approved List and are publicised worldwide as venues that meet international standards. MICE – Meetings, Incentives, Conferences and…
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Blue Tree Phuket appoints hospitality ace as GM
Blue Tree Phuket has announced the appointment of Michael Ayling, a veteran of Phuket’s hospitality scene, as its general manager. Having worked in a consulting capacity on the project for the past 24 months, Mr Ayling now takes the reins to lead the development, beginning with its opening to the public in early 2019. The UK-born leisure industry professional brings…
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Boeing says Asian region biggest growth area for aviation in next two decades
By Data Leads. PHOTO: Thai Airways Boeing 787 Asian countries are estimated to require 16,930 more airplanes by 2037, making the region the fastest growing aviation area in the world. Boeing’s annual forecast, the Commercial Market Outlook, reveals that the world fleet of jet planes would need 42, 370 new planes valued at US$6.3 trillion. The forecast predicts that the global…
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Cathay Pacific brings the first A350-1000 to Suvarnabhumi
Cathay Pacific is the first airline to land an Airbus A350-1000 in Thailand and was congratulated by Airports of Thailand (AoT) deputy vice president Kanogwan Kasetsin and customer relations director Anussara Mongsup. Cathay Pacific’s A350-1000, the largest variant in the A350 family, carries 334 passengers in first, business and economy classes. Staff of Cathay Pacific, led by Kendrick Ko, country manager…
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Hilton Phuket Arcadia Resort & Spa announces their new GM
Hilton Phuket Arcadia Resort & Spa have today announced the appointment of Markus Kosch as the new GM. Markus most recently served as General Manager of Conrad Guangzhou in China. Commenting on his appointment, Markus said, “I am excited to have the opportunity to be at the helm of one of the largest resorts in Phuket.” A 22 year veteran in the…
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Thai Airways to end its Samui flights this September
PHOTO: planespotters.net Thai Airways is scrapping its Bangkok-Samui flights from September this year. The airline’s been flying Bangkok to Samui, return, twice a day in a Boeing 737 carrying up to 149 passengers. It negotiated a contract with Bangkok Airways to fly the two flights into Koh Samui, which built and manages the island’s airport since 2008. At the time,…
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BMW eyes bright future for electric cars in Thailand
That growth makes Thailand number three in the world in terms of market acceptance of PHEVs, according to Krisda Utamote, BMW Group Thailand’s director of corporate communications. Christian Wiedmann, president of BMW Thailand, says the German carmaker would continue churning out new electric vehicle models due to confidence in its global market expansion, with Thailand included. “In Thailand, BMW is…
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10 good news stats from today’s economic forecast
The first four months of 2018 have seen the Thai economy surge ahead, Some key numbers were released today about the good news in the country’s financial report card. The value of exports rose 12.3% in April, year-on-year. • This month’s rise in exports is the 14th consecutive month of growth. In April Thailand shipped out 120,000 tonnes of durian,…
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Thai Airways profits up nearly 50% for Q1
Thai Airways International and its subsidiaries have been able to notch up an operating profit of 3,836 million baht for the first quarter of 2018. This represents a 49.4% improvement over the same period last year, despite rising fuel costs. That cashes out as a net profit of 2,737 million baht, still 432 million baht (13.6%) short of last year’s Q1…
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Warnings over cheap cosmetic surgery – Lee’s story
PHOTO: Nine News, Australia Most cosmetic surgeries in Thailand will definitely save you money when compared to the costs in western hospitals. And the vast majority of procedures will go perfectly according to plan with patients broadly happy with their results. But Lee Cameron says she will regret the decision to have cosmetic surgery in Thailand for the rest of…
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Netflix, Spotify and Chill – Navigating the brave new world of music and TV
Subscription movies and music services are booming, in particular Netflix which has over 125 million users worldwide and Spotify which has over 70 million paying users. The subscription model is where you pay a monthly fee and are entitled access to media which is streamed via the internet, rather than buy a physical CD/DVD, an album from iTunes or pay…
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5 things to check about your social media in 2018
Social media is going though some upheavals, affecting your numbers, especially the big ‘F’. Alex Runhaar, The Thaiger’s social media svengali, explains the things we need to focus on in 2018 as the social media washing machine swirls around us. https://www.youtube.com/watch?v=Y6T3-XXBGl4&feature=youtu.be
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New 101 villa luxury property heading to Mai Khao, Phuket
PHOTO: Viagens e Férias Global hospitality group Melia Hotels International has signed a new 101 villa luxury property in Mai Khao, Phuket. The developer of the property is the Phuket Villa Group. Each of the hotel villas feature private pools. Slated for 2021, the group will enter the Phuket market with an exclusive luxury resort on the idealic Mai Khao beach, at the…
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Alibaba to invest 11 billion baht in Thailand
Chinese e-commerce giant Alibaba Group has committed to invest a combined 11 billion baht in Thailand in a move that PM Prayut Chan-o-cha says could benefit the country’s small farmers and rural enterprises due to the firm’s expertise in diverse technology. “Jack Ma (Alibaba’s co-founder and executive chairman) told me he does not solely look for profits because Alibaba already…
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Transparent Government. Where does Thailand rank?
Japan has the most open government system in Asia, according to the recently released World Justice Project. Thailand leads countries like China and Malaysia when it comes to transparent government. Globally, Thailand ranks 68th in the ranking. The report measures whether country’s basic laws and information on legal rights are publicly available, presented in simple language and if there is…
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Not all cryptocurrencies are the same
By Asina Pornwasin Thai companies wanting to raise public funds via Initial Coin Offerings (ICOs) using cryptocurrencies should be required to follow the strict rules and regulations on Initial Public Offerings (IPOs), currently applied to stocks and other financial instruments, said experts. The cryptocurrency hype in Thailand has stepped up following an announcement from listed Thai firm Jaymart’s J Venture…
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That was 2017. This is 2018. Thai Economy
by Patrick Cooke, Regional Editor for Asia. Rising overseas demand for goods and services pushed Thailand’s GDP towards five-year highs in 2017, with business-friendly fiscal policies and planned spending on infrastructure expected to support further expansion in 2018. The Thai economy improved over the course of 2017, recording year-on-year growth of 3.3% in the first quarter, 3.8% in the second…
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