economy
- Thailand News
Thailand unveils third phase of 10000 baht stimulus project
Deputy Finance Minister Julapun Amornvivat confirmed plans to proceed with the third phase of the 10,000 baht economic stimulus project yesterday, Feburary 7. The initiative, aimed at injecting approximately 150 billion baht into the economy, is expected to start in the second quarter of the year. Discussions took place during a subcommittee meeting on economic stimulation projects, with further meetings…
- Thailand News
Thailand leads ASEAN dairy market with 19 billion baht in revenue
Thailand has emerged as a leader in the ASEAN dairy market, generating over 19 billion baht in revenue, according to a government spokesperson. The country’s strategic use of Free Trade Agreements (FTAs) has bolstered exports of processed milk products across ASEAN. Anukool Pruksanusak, deputy spokesperson for the Prime Minister’s Office, reported that Thailand has maintained its top position in ASEAN…
- Thailand News
Chinese New Year spending in Thailand hits 51 billion baht
Public expenditure during the Chinese New Year is projected to reach 51.78 billion baht, marking the highest level in five years, according to recent government estimates. Sasikan Wattanachan, deputy government spokesperson, noted that this figure signifies a 4.5% rise compared to the previous year. It is also the first occasion since the Covid-19 pandemic that spending for Chinese New Year…
- Thailand News
No promises on 400 baht minumum wage: Labour chief
The long-awaited nationwide implementation of the 400-baht daily minimum wage remains uncertain, according to Labour Permanent Secretary Boonsong Thapchaiyuth. While some major tourism provinces like Phuket and Chon Buri began offering the increased rate from January 1, Boonsong admitted there is no guarantee the wage hike will extend to all provinces anytime soon. Speaking during the first meeting of the…
- Thailand News
Thai cinema reels in the big bucks, outshining Hollywood
Eight Thai films surpassed 100 million baht in revenue in 2024, capturing a 54% share of the domestic market, surpassing Hollywood films. Surachet Asavarueng-Anan, Chief Executive Officer of M STUDIO, a film production and distribution company in Thailand and abroad, announced yesterday, January 15, that the Thai film industry achieved significant success last year. The industry’s market share exceeded that…
- Thailand News
Petrol prices cut in Thailand for Children’s Day celebrations
PTT Station has announced a reduction in retail prices for various types of petrol and gasohol, coinciding with Children’s Day celebrations. Starting today, January 11, prices will decrease by 0.30 baht per litre for petrol and all types of gasohol, while E20 will see a 0.40 baht reduction, and E85 will drop by 0.50 baht per litre. Following the adjustments,…
- Thailand News
From heiress to hero: Thai FA Madam Pang’s journey
Madam Pang, a fifth-generation heiress from Thailand’s billionaire Lamsam family, has transformed Thai football with her passion, leadership, and jaw-dropping generosity. Born Nualphan Lamsam, the 58 year old business mogul comes from one of Thailand’s wealthiest families, with an estimated net worth of US$890 million (approximately 30.82 billion baht). As CEO of Mueang Thai Insurance and a pioneer in introducing…
- Bangkok News
Dream homes for less: Thai govt rolls out affordable housing project
Thais earning under 50,000 baht per month are being offered a golden opportunity to own a home in the city through the government’s “Baan Pheu Khon Thai” (Homes for Thais) initiative, with registration set to open on January 20. The project, announced by Transport Minister Suriya Juangroongruangkit, aims to provide affordable, fully furnished housing near urban centres, leveraging land owned…
- Thailand News
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…
- Thailand News
Thailand aims to boost trade with Mongolia to 2027 goals
Thailand is gearing up to expand its trade relations with Mongolia, aiming to surpass the 100 million US dollar mark in trade value by 2027. Following discussions with Amarsanaa Tumur, Mongolia’s Ambassador to Thailand, the Minister of Commerce, Phichai Naripthaphan, highlighted efforts to bolster economic cooperation through the Thailand-Mongolia Joint Trade Committee. This initiative aims to open new markets for…
- Thailand News
Thai pig farms face closure risk amid pork oversupply crisis
The Swine Raisers Association of Thailand (SRAT) expressed growing concern that small pig farms could face closure due to an increasing oversupply of pigs, as larger farms aggressively expand their production capabilities. This oversupply issue arises from major pig farms in Thailand continuously boosting their production without aligning with the actual market demand for pork, according to SRAT President Sitthiphan…
- Thailand News
Thai social security wage ceiling set to increase by 2026
The Thai Social Security Office (SSO) is set to revise its wage ceiling, planning an increase to between 17,500 and 23,000 baht. This change aims to enhance pensions and compensation benefits for insured individuals under Section 33, with implementation expected by January 2026. The SSO of the Ministry of Labour opened a public consultation recently to gather opinions on a…
- Business News
Thailand’s economy shifts into gear but auto industry hits a bump
Thailand’s economy is on a cautious upswing, buoyed by a surge in exports, a bustling tourism sector, and healthier private consumption. Yet, the road ahead isn’t entirely smooth, with the automotive industry hitting a bump. The Fiscal Policy Office (FPO) has laid bare the mixed fortunes in its recent October economic report, painting a picture of resilience tinged with challenges.…
- Thailand News
Thai coffee lovers ditch pricey cups amid economic squeeze
Thai coffee drinkers are cutting back on their caffeine budgets as the economic crunch hits hard, with pricey cups over 100 baht losing their flavour. Korn Sanguankeaw, Vice President of the Specialty Coffee Association of Thailand, revealed yesterday, November 26, that cafés offering cheaper brews have seen explosive growth of 60 to 100%. “Consumers prefer coffee priced at 60 to…
- Thailand News
Sky’s the limit: RTAF aims to reach new heights with space plans
The Royal Thai Air Force (RTAF) is looking to take Thailand’s defences to new heights. Plans are underway for a bold rebranding as the Royal Thai Air Force and Space alongside the creation of a new unit aimed at safeguarding Thailand’s air and space interests. This strategic move, announced by RTAF spokesperson Air Marshal Prapas Sornjaidee yesterday, November 19, highlights Thailand’s…
- Economy News
Thailand economy gives a surprise ‘Thai’ five with Q3 growth leap
Thailand’s economy just delivered a surprise package of positive news! Official figures released today, November 18, reveal that the nation’s economic growth has leapt to a striking 3.0% increase in the third quarter compared to last year, leaving analyst predictions of 2.6% in the dust. In a stellar performance, Southeast Asia’s second-largest economy also recorded a seasonally adjusted growth of…
- Thailand News
Trump victory prompts Thai stock market strategy reevaluation
Donald Trump’s victory in the US presidential election, coupled with a comprehensive Republican majority in Congress, has prompted a reevaluation of investment strategies in the Thai stock market. Natchat Mekmasin, assistant managing director of securities analysis at Trinity Securities, suggests that the Thai stock market is likely to align with the broader trend observed in emerging markets. However, he points…
- Thailand News
Thailand halves poverty in seven years despite ongoing challenges
Thailand has achieved a significant milestone in its battle against poverty, reducing the number of people living in poverty by half in just seven years, according to the 2024 Global Multidimensional Poverty Index (MPI). Despite this impressive progress, many Thai citizens endure inadequate living conditions, particularly in rural areas, where access to essential services such as healthcare, education, and sanitation…
- Thailand News
Thailand biofuel subsidy ends in 2027, costs to rise for farmers
Thailand’s Energy Ministry is set to introduce measures to mitigate the effects of the impending cessation of biofuel price subsidies in 2027. With the expiration of these subsidies, the cost of biofuels is anticipated to rise, impacting palm and sugar cane growers who supply raw materials for biofuel production. Farmers sell their crops to factories that produce two types of…
- Thailand News
Thailand’s public debt remains sustainable at 64% of GDP
The recent Cabinet meeting focused on the nation’s public debt status, revealing it remains well within sustainable limits. Public debt as of August reached 11.7 trillion baht, accounting for 64% of the country’s GDP, comfortably below the 70% benchmark for fiscal sustainability. Government spokesperson Jirayu Houngsub detailed during the meeting that the Finance Ministry adhered strictly to the public debt…
- Business News
Thailand embraces AI to lead global economy by 2030
Thailand is rapidly embracing artificial intelligence (AI) technology across public and private sectors, aligning with global technological advancements. This movement was highlighted during a seminar, where experts emphasised the importance of an AI-ready workforce to propel Thailand into the forefront of the AI-driven global economy by 2030. Scheduled as a significant milestone, 2030 is anticipated to witness a global economic…
- Thailand News
Thai citizenship granted to 483,000 immigrants to boost economy
The Thai Cabinet approved Thai citizenship to 483,000 immigrants in a move aimed at boosting the economy. The decision met with disagreement from many Thai residents. The spokesperson for the Prime Minister’s Office, Jirayu Huangsub, announced on Tuesday, October 29, that the Thai Cabinet and the Office of National Security Council agreed in their meeting to grant citizenship to 483,000 immigrants.…
- Thai Life
The income of the top 1% in Thailand
While many Westerners associate Asian wealth primarily with countries like Singapore and Japan, Thailand has its own population of Hi-So “ultra-wealthy individuals”. The country’s wealth distribution reveals that while not considered a rich nation overall, Thailand has a notable number of individuals in the top 1% income bracket. Reaching the top 1% of income in European countries typically requires a…
- Thai Life
Is Thailand considered a rich or poor country?
When you think of Thailand, it can be tricky to define whether it’s a rich or poor country. On one hand, it boasts skyscrapers, luxurious malls, and a booming tourism industry. On the other hand, you might also encounter rural areas where people live more modestly. So, is Thailand rich or poor? Well, the answer depends on how you look…
- Business News
Economic waters rise: Thai business sector flooded with challenges
The business sector is facing a stormy crisis this monsoon season as severe flooding batters key economic regions across Thailand. Provinces like Chiang Mai and Chiang Rai have been hit hard, with water levels reaching devastating heights—marking the first time in decades that such catastrophic flooding has occurred. Officials are closely monitoring the Chao Phraya River, issuing early warnings in…
- Thailand News
Thailand’s industrial confidence dips as floods hit economy
Thailand’s Industrial Confidence Index dropped to 87.1 in September, down from 87.7 in August, announced Nava Chantanasurakon, Vice Chairman of the Federation of Thai Industries (FTI). The decline is primarily due to severe flooding across northern, northeastern, and central regions, impacting homes, agricultural areas, industries, and tourism, with economic losses estimated between 30 and 50 billion baht. The widespread flooding…
- Thailand News
Thai tunes set for world domination with PUSH & PULL strategy
Thailand is turning up the volume on the global stage. The Creative Economy Agency (CEA) joined forces with the National Soft Power Strategy Committee to launch its bold PUSH & PULL strategy, aiming to make Thai music a global sensation. With plans to send local artists to top international festivals and attract music industry bigwigs to Thailand, the country’s soft…
- Thailand News
New chairman could spell economic disaster, warns ex-bank boss
The race to appoint the next Bank of Thailand (BoT) board chairman has taken a dramatic turn as former governor Tarisa Watanagase warns that a bad choice could plunge the economy into chaos. In a fiery Facebook post, Tarisa urged the panel selecting the new BoT chair to exercise extreme caution, stressing that appointing the wrong person could open the…
- Thailand News
Milking it: ThaiBev pours 18 billion baht into dairy, drinks expansion
ThaiBev Group plans to invest 18 billion baht in 2025, more than doubling its annual investment, focusing on strengthening its non-alcoholic beverage and dairy businesses, including establishing a dairy farm in Malaysia. ThaiBev Group, led by CEO Thapana Sirivadhanabhakdi, announced a significant investment increase to 18 billion baht for the fiscal year 2025, which spans from October to September 2025.…
- Thailand News
Thailand’s bold plan to regulate sex work sparks heated debate
Thailand Prime Minister Paetongtarn Shinawatra’s government is stirring up controversy with a proposal to develop an entertainment complex aimed at formalising underground businesses—sex work included. The plan is designed to bring these industries into the formal economy, making them taxable, and, in the long term, funding welfare programmes in education, public health, and infrastructure. But the proposal has ignited a…
