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- Business News
Thailand’s tourism confidence index drops amid floods, economy
Thailand’s tourism confidence index for the third quarter saw a significant drop year-on-year, remaining below the benchmark due to challenges such as factory closures, rising unemployment, increasing non-performing loans, and severe flooding both domestically and internationally, according to the Tourism Council of Thailand (TCT). The TCT has scheduled a meeting with the Tourism Authority of Thailand‘s board chairman tomorrow to…
- Thailand News
Gold prices take a tumble: Time to strike while the metal’s hot
Gold prices experienced a significant drop today, prompting potential buyers to act quickly. As of today, August 7, gold jewellery is being sold at 40,700 baht per baht weight, a decrease of 400 baht compared to yesterday. This information comes from the Gold Traders Association (GTA), which released the latest prices at 9.07am. Gold bullion with 96.5% purity is being…
- Thailand News
Gold prices drop again as traders urged to act quickly
The Gold Traders Association (GTA) announced another drop in gold prices, urging interested buyers to check and decide quickly. Compared to yesterday’s closing price, gold ornaments are selling at 41,100 baht per baht-weight. Today’s gold prices, as of 9.04am, July 30, have decreased by 100 baht from the last price on July 29. Gold bars in the domestic market are…
- Thailand News
Gold prices drop again, jewellery now at 40,850 baht
Gold prices continue their downward trend today, with the Gold Traders Association (GTA) reporting another drop. As of this morning, the price of gold jewellery stands at 40,850 baht per baht-weight, reflecting a decrease of 150 baht from yesterday. Today’s gold prices, as reported at 9.16am, show a decrease when compared to the closing prices yesterday, June 25. The GTA’s…
- Business News
Thailand’s business confidence drops amid wage hike concerns
Business confidence in Thailand took a hit as the Thai Industries Sentiment Index (TISI) dropped in April, reflecting entrepreneurs’ concerns over a slew of economic pressures, including a proposed daily minimum wage increase. The TISI, a measure of the mood in the industrial sector, registered at 90.3 points, a decrease from the 92.4 points recorded in March, as reported by…
- Business News
Thailand’s daily online fraud falls to 110 million baht in April
Online fraud damage in April was reported at 110 million baht daily, indicating a 26% decrease from the 149 million baht experienced daily in March. This significant reduction is a result of the intensified crackdown on online fraud by authorities. On the first of April, Prime Minister Srettha Thavisin delegated several organisations to yield tangible results from their efforts to…
- Business News
Export woes: March sees customs dip by 10.9%
March witnessed a significant 10.9% drop in customs-based exports from the previous year, according to an announcement by the Commerce Ministry today. The decline was notably more severe than the 4.5% year-on-year fall predicted by a Reuters poll, marking a stark contrast to the 3.6% rise observed in February. Government data revealed a 9.7% and 19.3% decrease in exports to…
- Thailand News
Domestic air travel drops 60 percent at start of 2021
Thailand’s domestic air travel is seeing a 60% drop in the early weeks of the new year, thanks to the recent Covid-19 outbreaks around the country. The Department of Airports drew the figure from 20 airports under its supervison nationwide, according to Apirat Chaiwongnoi, the acting Director-General of the department. Such domestic passengers at those airports also dropped in numbers…
- World News
Singapore’s population contracts along with its GDP
The little south east Asian island nation of Singapore, which has always punched way above its weight, with the fourth largest economy, but the biggest GDP per capita in the region, is getting smaller. Both its economy and population. The population of the Republic of Singapore is shrinking for the first time since 2003. Border closures and, mostly, job losses, are…
- Economy News
Thailand’s GDP forecast to fall up to 9% this year
Thailand’s GDP is set to fall 7-9%, year-on-year, according to the Joint Standing Committee on Commerce, Industry and Banking. The fall is, not surprisingly, being fallout from the catastrophic drop in tourism and lower exports. Kalin Sarasin, chairman of the Board of Trade of Thailand, says the expected contraction was revised downwards from 5-8%. The committee also predicted exports would drop…
- World News
Singapore drops into an official recession
Singapore, an early success story in Covid-19 containment, has now dropped into technical recession after an official second quarter report of negative growth. The Singaporean economy plunged 41.2% quarter-on-quarter, with the country’s trade-dependent economy battered by the Covid-19 crisis in the South East Asian region. Finance authorities are flagging that they expect Singapore’s GDP to shrink between 4 – 7% this…
- Business News
Thai exports hit new low, pandemic to blame
Thailand’s exports have dropped drastically and the Thai Ministry of Commerce blames the coronavirus pandemic for the low levels and the shrinking supply and demand market. In a report released yesterday, exports for May are the lowest they’ve been in 4 years. Worldwide lockdowns have caused production in Thailand to take a plunge, according to the director-general of the commerce…
- Tourism News
“Tourist arrivals to plunge 50% in first half of 2020” – Thai Tourism Minister
Thailand’s Tourism and Sports Minister Phiphat Ratchakitprakarn has painted a gloomy outlook for Thailand’s previously-robust tourism industry. He says he expects tourist arrivals to plunge by 50% in the first half of 2020 because of the coronavirus outbreak. His predictions are born out by sluggish arrival numbers at the country’s main airports, hotel forward bookings and ‘landing slots’ cancelled by international…
- Tourism News
Tourism minister mulls adding new tourist levies
The Ministry of Tourism and Sport is mulling the idea of collecting levies from international tourists for the “renovation of tourism attractions and natural resources”, as well as providing insurance benefits specifically for tourists. The Minister noted that the high numbers of tourists traipesing over the same well-worn paths and attractions, especially natural and historical treasures, also carried a high…
- World News
Brexit dampens British housing market
“In London, property values dropped by 4% in the first quarter from their level earlier this year, the sharpest drop since 2009 when the global financial crisis was raging.” by Véronique Dupont As Britain’s deadline to leave the EU approaches, property prices have slowed or dropped, especially in London, with sector analysts warning of worse to come if Britain crashes…
- Thailand News
British Pound was close to the worst performing currency in the world
Nigel Green, the founder and CEO of the deVere Group, a leading independent international financial consultancy, says the GBP (Pound) is going to continue to be battered and bruised in the short-to-medium term, no matter who is leading the political fray. He spoke out after the Sterling dropped more than 4% yesterday in its worst performance since October 2016, based on…
- Business News
Economists predict Thai exports could fall 3.1% this year
Economists are forecasting that Thailand’s exports will drop by up to 3.1% for 2019 after June figures fell when compared to the same period last year. After the Commerce Ministry reported a 2.1% fall in June, the SCB Economic Intelligence Centre projected the country’s exports will drop this year by between 1.6-3.1%. “Although the US-China trade meeting after the G20…
- Tourism News
Number of passengers and flights drop slightly at 28 secondary Thai airports
28 airports under the Thai Airports Department have dropped traffic by 1% compared to the same time last year. The airports under the Airports Department don’t cover the largest airports at Suvarnabhumi, Don Mueang, Phuket, Chiang Mai, Hat Yai and Chiang Rai. Some 14.4 million passengers were recorded at the 28 airports under the department from October 2018 to June…
- Tourism News
TAT chief blames high baht for drop in tourists to Thailand
Thailand’s tourism numbers have been dropping over the past three months, against projections and when compared to year-on-year figures. And the blame game has started. TAT (Tourism Authority of Thailand) chief Yuthasak Suphasorn is blaming the high value of the Thai baht for the worse than expected tourist figures. He admits that European visitors are being more careful over their money and…
- Business News
Thailand’s export growth expectations revised down to just 3% in 2019
“Export trends are aligned with global sentiment and the outlook for other Asian countries, making export prospects murky because of the escalating trade war.” The government is massively revising down their export growth targets to just 3% this year from an earlier 8% growth estimate. Deputy PM Somkid Jatusripitak is blaming the global economic slowdown, the ongoing trade spat between the…
- Business News
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…
- Thailand News
Average hotel prices drop in Thailand in 2018
The latest Hotel Price Index (HPI) released by Hotels.com reveals no sign of a slowdown for the global travel industry. Prices are up for overnight accommodation by 3% globally in 2018 across every regional index, except for the Pacific region, including Thailand. Hotel.com has 85 websites in 34 languages, and lists over 325,000 hotels in approximately 19,000 locations. Its inventory…
