Economy News
Thailand economy news, business updates, financial markets, and government policies—stay informed on economic developments shaping the nation. Get the latest from The Thaiger, your trusted source for Thailand economic news.
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Each year, many expats living in Thailand see their health insurance premiums go up and often without a clear reason. This can be frustrating, especially when you're trying to plan your budget. But by understanding why prices rise and learning...
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“We Tour Together” launched to boost domestic tourism
The government has announced its “Rao Thieu Duaykan” (We Tour Together) program, created as a stimulus boost to domestic tourism and help the travel and hospitality sectors battered by closures and bans in reaction to the Covid-19 pandemic. From July 15, Thai citizens can apply for a government subsidy to cover part of their hotel and dining expenses when travelling…
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Thailand sets new guidelines to govern “medical tourism”
Thailand’s medical community is rolling out a set of guidelines for medical tourism as the country prepares to open its borders to international visitors. According to the director-general of the Department of Health Service Support, yesterday’s first meeting of the medical hub committee resulted in 3 decisions. The first outcome from the meeting set a new policy pertaining to quarantine…
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Phuket’s (in)famous “Soi Bangla” district reopens today
Today is the official reopening of Phuket’s famous (or infamous) “Soi Bangla” nightlife district, but only about 20% of venues say they’re reopening during this early stage. The Centre for Covid-19 Situation Administration announced yesterday that all night entertainment venues may reopen but must strictly adhere to health guidelines set out to prevent the spread of Covid-19. Dr Taweesilp Visanuyothin,…
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The Centre for Covid-19 Situation Administration has approved extending the Emergency Decree
The Centre for Covid-19 Situation Administration has approved the proposal from the National Security Council last week to extend the emergency decree until the end of July. The decision was made at a meeting this morning with PM Prayut Chan-o-cha and other relevant officials. Read more about last weeks proposal HERE. The CCSA says the extension was necessary because the…
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Phase 5 rules to be announced Monday
On Monday the Center for Covid-19 Situation Administration will hold a significant meeting, led by PM Prayut Chan-o-cha, to decide several major issues of importance to Thailand as well as foreigners hoping to come into the country. The issues to be discussed and expected to be resolved are: An official decision on “Phase 5” relief measures and the date of…
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Surat Thani “cockle wars” are over, says navy chief
The chief of the Royal Thai Navy says local figures wielding influence are being “neutralised” and the disruptive, sometimes violent dispute between cockle farmers and local small-boat fishermen is drawing to an end. Admiral Ruechai Ruddit says the conflict off the coast of Bandon Bay in the southern province of Surat Thani has eased, after cockle farmers began dismantling the…
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Open for business. Just about all business restrictions in Thailand lifted from July 1.
Thailand has now gone over a month without a locally transmitted case of Covid-19, and July 1, approaching quickly, will see the resumption of all businesses and activities originally suspended under the Emergency Decree, including bars, pubs and “soapy” massage parlours. Spokesman of the Centre for Covid-19 Situation Administration Dr Taweesilp Visanuyothin made the announcement yesterday. He told the media…
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Q&A with David Barrett on travel, tourism and MICE
Industry expert and respected marketeer David Barrett chatted with travel writer and media consultant Andrew J Wood on the recovery from the impact of Covid-19 on Thailand’s formidable travel and tourism industry. AW. As Thailand starts to emerge from lockdown what do you believe are the most important points to consider to ensure success? DB: As we begin to recover,…
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Arrival ban to end on July 1… some foreigners will be allowed in
“Dr. Taweesilp says about 50,000 foreigners are expected to visit the country under the new rules.” Thailand will begin allowing foreigners to enter the country from July 1, easing the months-long arrival ban. But foreign tourists will still be banned. Dr Taweesilp Visanuyothin, spokesperson of the government’s Centre for Covid-19 Situation Administration, says that the first group will comprise businessmen…
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Finance ministry to consider incentives to stimulate shopping, retail sector
Thailand’s finance minister says his ministry is ready to consider retailers’ proposals for tax breaks on shopping to stimulate domestic spending. The ministry has assigned related agencies, including the Fiscal Policy Office, the Revenue Department and the Excise Department, to examine the possibilities, Uttama Savanayana said yesterday. His remarks come after retailers asked the government to apply a shopping tax break…
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U-tapao and Eastern Airport City deal officially signed
The deal for a public/private partnership for the U-tapao International Airport and Eastern Airport City projects has been officially signed. The agreement is between the Eastern Economic Corridor Office of Thailand and U-tapao International Aviation Company. PM Prayut Chan-o-cha chaired the signing ceremony yesterday at Government House. The deal is for a major infrastructure project to upgrade U-tapao, which serves…
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Health minister wants travel bubbles to begin in July, but not for tourists
“No one will be allowed to arrive masquerading as a businessperson in order to go on holiday.” Thailand’s public health minister and deputy PM Anutin Charnvirakul said yesterday that businesspeople, international students and ‘experts’ will be the first groups of foreigners allowed to reenter Thailand next month under the travel bubble model. Anutin revealed the timetable after discussing a travel…
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Government considering unlocking music venues, meetings today
Thailand’s often flamboyant and occasionally controversial Public Health Minister and Deputy PM, Anutin Charnvirakul, spoke to reporters this morning after significant recent media coverage of the estimated 100,000 musicians still out of work due to the continued closure of the entertainment and nightlife industry. Anutin says he himself was once a musician (yeah, we can see that…) and he “feels for…
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International medical hub proposed by outgoing Phuket governor
Local Thai media reported that Phuket has proposed a new project called “The International Medical and Public Health Service” to create more long term financial security and diversification, and value-added tourism in Phuket, as the island has taken a heavy financial hit due to the effects of Covid-19 pandemic. The project will use state owned property near the Tha…
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British expat petitions government to help desperate elephants, handlers
The closure of elephant camps and sanctuary-style tourist attraction throughout the northeastern provinces has left thousands of elephants facing starvation. Some have made the long march back to their home villages, where their arrival is creating more problems than it solves. Susan Field, a British citizen living in Koh Samui, yesterday presented a petition with nearly 65,000 signatures to the Thai…
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Somkid outlines a bright future for Thai economy
Thailand is poised to soar in the global market with heightened investment attraction and a massive budget earmarked to rejuvenate the economy in the fourth quarter, as the Covid-19 pandemic eases, according to Deputy Prime Minister Somkid Jatusripitak. Mr Somkid says the government also plans to enhance financial cooperation with China and Hong Kong that will lead to business expansion…
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Poll shows flea markets, supermarkets, most popular with Thais as lockdown easing continues
“46% of Thais want the Songkran holidays moved to the (western) New Year period.” A new poll shows that most Thais are anxious to return to markets and supermarkets first, as the country continues to relax the restrictions imposed during the Covid-19 crisis. A report in Nation Thailand says over 83% of those surveyed are prioritising markets, flea markets and supermarkets,…
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Phase 3 easing generated 200 billion baht into Thai economy
Phase 3 of Covid-19 restriction easing, which began June 1, has generated 200 billion baht of additional cash flow into the economy. With many other establishments returning to business as usual tomorrow, the Thai Chamber of Commerce has launched a forum for the brainstorming of ideas on the next business trends under the “new normal,” that must comply with health…
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Rubber roads will help Thai growers, increase safety
Thai PM Prayut Chan-o-cha chaired the signing ceremony of an agreement to use local Thai rubber in road construction, part of an effort to help the country’s financially strapped rubber farmers. Prayut praised the Ministry of Transport and the Ministry of Agriculture and Cooperatives as well as Prince of Songkhla University, the Thailand Institute of Scientific and Technological Research, the…
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Schools, colleges, universities to reopen, restaurants and hotels can serve alcohol from Monday
The spokesman for the Centre for Covid-19 Situation Administration announced yesterday that schools, colleges and other educational institutes will be allowed to re-open on Monday, and alcohol can again be served in restaurants and hotels, but NOT in pubs, bars or other entertainment venues. The national curfew is also being lifted as of Monday. International schools and tuition schools are…
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Alcohol association begs government for trial re-opening of bars
But they know it is unlikely to happen. The Covid-19 pandemic and the ensuing Emergency Decree have caused immeasurable economic impact across the country.Probably no sectors has been harder hit than hospitality, entertainment and nightlife. Although alcohol sales appear set to resume in restaurants next week, around 10,000 pubs, bars and entertainment venues nationwide – and their many casual staff…
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Economist predicts economy will shrink 8.9% this year, despite easing of restrictions
A leading economist is predicting the Thai economy will contract by 8.9% this year despite the easing of Covid-19 restrictions, far higher than previous estimates from local and international economic pundits. Amonthep Chawla, head of the research office at CIMB Thai Bank says that although Thailand is heading toward the fourth phase of lockdown easing, with more businesses to be…
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Thai government to postpone tax increase on cheap cigarettes
The Thai government is expected to delay a planned tax increase on cheap cigarettes, as well as agreeing a moratorium on excise duties for entertainment and sporting venues, provided they don’t lay off any staff. Cigarettes costing less than 60 baht a pack were expected to see a tax hike of between 20-40% in October, but this is now being…
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Industry panel wants foreign businesspeople allowed back to Thailand
The Joint Standing Committee on Commerce, Industry and Banking is proposing that foreign businesspeople be allowed back into Thailand. The president of the Thai Chamber of Commerce says this can be allowed if the government enacts strict measures to contain the spread of Covid-19, including ensuring every foreign visitor is tested for the virus 48 hours before landing in Thailand.…
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Finance Ministry looking at 3,000 baht ‘travel bank’ in next stimulus round
The Finance Ministry is looking at giving domestic tourists a 3,000 baht ‘travel bank’ to deduct off the cost of participating hotels, restaurants and tourism attractions. This time the restaurants, hospitality options and attractions will need to register for the service while the users won’t need to register. So, a user might check into a 5,000 baht hotel and spend…
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Commerce Ministry announces another round of price drops on staple products
The Thai Ministry of Commerce will soon launch a fourth round of price reductions, which will take place at a district level. The ministry has already received cooperation from the business sector to help those affected Covid-19 by lowering product prices, sometimes by as much as 68%, on 3 occasions, In the fourth round, around 7,100 consumer goods are being…
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Health department urges strict “new normal” measures at beaches
With Phase 3 of the easing of lockdown measures across Thailand, many beaches across Thailand were allowed to reopen, including Chon Buri’s popular Bang Saen beach, which was flooded with so many visitors that traffic came to a halt and police ordered the beach temporarily re-closed. And beaches in Phuket are set to reopen this Tuesday, as the island has…
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Thailand to rebrand itself as “trusted” tourist destination
Tourism in Thailand, like most of the world, has been devastated by the Covid-19 pandemic and the ensuing lockdowns and travel restrictions. Now, though, capitalising on its relative success in containing the outbreak, Thailand is preparing to position itself as a “trusted” destination for international tourists after travel restrictions ease. As the first country to report a Covid-19 virus case…
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Cyber minister wants Netflix-like Thai streaming platform
Thailand’s minister of digital economy and society, aka. “cyber minister” says that Thailand should have its own streaming platform to bring in revenue and promote Thai movies and television overseas. Puttipong Punnakan remarked at a forum that creating a Netflix-like platform to stream and sell Thai films and series to foreign audiences would reel some sweet, sweet subscription revenue into…
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Phuket governor courts envoys of 16 nations to promote tourism
“I would like Phuket to organise activities leading the consulates from various countries to travel to Phuket in order to see the beautiful tourist attractions and to promote tourism for Phuket.” Phuket’s governor called yesterday for foreign envoys to visit and inspect Phuket for themselves as a mark of confidence that the island is ready to receive tourists. The call…
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