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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The Thaiger key takeaways The most common medical emergencies for expats in Thailand include motorcycle accidents, tropical diseases, and food or water-borne illnesses. Air pollution and heat-related conditions like heatstroke also pose serious seasonal health risks, especially in northern and...
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Thailand to exploit the mini trade war between Taiwan & China
Thailand is looking to exploit the strained relationship between China and Taiwan exacerbated by the visit of Nancy Pelosi to Taipei on Tuesday. Reports circulating in the media say that China is to embark on a mini-trade war with Taiwan to economically punish them because of Pelosi’s visit, and plans to suspend the import of 35 foodstuff categories from the…
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Thailand pitches in to help Sri Lanka in its time of crisis
Thailand is pitching in to help Sri Lanka in its tumultuous economic crisis. Thailand’s Foreign Ministry announced yesterday that the country has donated medicines, medical supplies, food, and financial support to Sri Lanka. Several departments made donations adding up to about 5 million baht, while the Foreign Ministry donated another 1.3 million baht worth of medical supplies to Sri Lanka.…
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Half a million young people seeking jobs prefer admin to tourism
The Employers’ Confederation of Thai Trade and Industry released a new report analysing job applications on JobThai.com this past month revealing some interesting statistics about what jobs people want and where. Young job applicants – and there are around 490,000 to 510,000 of them who recently graduated and now entering the workforce – are eschewing the glitz and glamour of…
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Sri Lanka’s children face malnutrition
More and more children in Sri Lanka face malnutrition as the country’s economic crisis is spiralling out of control. Now, government agencies along with UN agencies are seeking donations for the island nation’s children. Sri Lanka’s Ministry for Women and Child Affairs is seeking private donations to feed possibly several hundred thousand children. The ministry’s secretary, Neil Hapuhinne, said that…
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Govt wants Thailand to be No.1 in Asian business market by 2027
The Deputy PM and Commerce Minister, Jurin Laksanavisit, has set an ambitious target for Thai brands and businesses to be top of the Asian market by 2027. The Deputy Spokesperson of the PM Office, Ratchada Thanadirek, yesterday reported that Commerce Minister Jurin was working on a project called “Promoting Thai Brands to the World” to develop Thai brands and businesses…
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Thai government agrees to continue subsidising diesel prices past July
The Oil Fuel Fund board has resolved to keep diesel prices around Bangkok and immediate provinces at 34.94 baht per litre until the end of July. The government, via the OFF Board, have been subsiding the country’s diesel prices since they started to rocket due to the current global fuel price crisis. The government, or specifically Thai taxpayers, have been…
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Indian tourists are picking up Phuket’s Old Town economy
Phuket’s recovering tourism economy is picking up again thanks to Indian tourists. Indians have been the biggest tourist group in Phuket, and Thailand overall this year. Since May 1, over 72,000 Indian tourists have visited Phuket, according to the president of Phuket Old Town Tourism Community, Somyot Pathan. Phuket’s ‘Old Town’ in the main city district is a particular hotspot…
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Thailand’s Zipmex crypto exchange blocks transfers and withdrawals
Another cryptocurrency exchange is in trouble, blocking withdrawals of both cash and crypto from its platform as go 6pm last night. Zipmex Thailand, a crypto-trading platform, has announced that the withdrawal of baht and cryptocurrency on its platform “has been suspended temporarily”. In the announcement, the CEO outlined a number of difficulties and challenges facing the Thai crypto exchange. He…
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PTT top revenue-earning company in Thailand in 2021
In news that is likely not surprising but probably very frustrating, amid soaring fuel prices, petrol company PTT has topped the list as the highest revenue corporation in Thailand for 2021. The national oil and gas conglomerate breakdancing 1 trillion baht over the last year no doubt thanks in part to huge inflation in the price of oil that has…
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Thailand’s bottled palm oil price drops slightly
After Thailand’s price of bottled palm oil has kept surging and surging for months, it has now finally come down a bit. Prices in department stores and supermarkets on 1 litre bottles have dropped from 69-70 baht, to 64-65 baht. The director-general of Thailand’s Internal Trade Department, Udom Srisomsong, pointed out that prices may differ between stores, though. Udom stressed…
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Bangkok governor looks for Chinese cash to create smart city
Bangkok Governor Chadchart Sittipunt yesterday revealed he had a working dinner with the Chinese Ambassador to discuss a number of projects beneficial to the capital, including the city’s upcoming outdoor film festival, Chinese teachers, and the development of a smart city. Developing Bangkok as a smart city comes hot on the heels of an announcement by the Eastern Economic Corridor…
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Is the Thai Baht falling in value?
Yes. And no. Depends on which currency you want to compare it to. Against the mighty USD, absolutely yes. In February this year, the USD was valued at 32.12 baht to the dollar. Now it’s 36.48 baht to the dollar. Good news if you’ve got USD and heading to Thailand. GRAPHIC: xe.com But the story isn’t the same against many…
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US$37 billion smart city gets green light in Pattaya
Plans to build a US$37 billion smart city in Chon Buri got the go-ahead yesterday by the Eastern Economic Corridor Policy Committee. PM Prayut Chan-o-cha, who chaired the meeting, revealed the smart dream hub can be realised thanks to public and private investment in automotive, robotics, healthcare and logistics companies. The investment will create about 200,000 jobs and accommodate 350,000…
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Thailand will produce 25 billion baht of hemp in 5 years
In the next five years, the Thai government wants to make Thailand a regional hub for producing hemp-related products, and it will earn at least 25 billion baht from the exploits, according to Industry Minister Suriya Jungrungreangkit. “Hemp has become an important plant in many countries now as all parts of it can be turned into various types of products…
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Chatuchak Market revitalisation planned by BMA and SRT
Once a bustling centre of commerce and socialising, Chatuchak Market has been much quieter since reopening after being closed down because of the Covid-19 pandemic. Now the State Railway of Thailand is cooperating with local authorities in Bangkok and City Hall to try to revive the famous market back to its previous thriving glory. As with most of the tourism…
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A jump in Thailand’s Consumer Confidence Index
Thailand’s economy is slowly but surely making a comeback after being devastated by Covid-19 restrictions. Last week, the University of the Thai Chamber of Commerce reported that Thailand’s Consumer Confidence Index had risen. The country’s CCI rose from 40.2 to 41.6 in June, the UTCC said. This news comes after Thailand’s CCI had been in decline for several months. April’s…
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Thailand Post increases rates, pilots 24-hour delivery services
The good news is that Thailand Post will begin 24-hour delivery services, but the bad news is that mail rates have gone up. The new round-the-clock delivery and pick-up service will begin as a pilot project from Thailand Post’s main sorting facility in Chaeng Wattana servicing Laksi, Pak Kret, and Ram Inthra areas. The rate hike is the first in…
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Thai hospitality sector opposes dual accommodation pricing
Many hotels have voiced their opinions over the government’s proposal to adopt dual pricing in the hospitality industry. They described the plan as “impractical” and asked that the government come up with promotions and campaigns to boost tourism instead. A government spokeswoman said yesterday that hotels would be expected to adopt a dual pricing system where Thais would continue to…
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Suvarnabhumi Airport expansion capacity up to 15 million visitors
The eastern side of Suvarnabhumi Airport’s main terminal will be modified to boost Thailand’s arrival capacity to 15 million travellers annually. The upgrades will be completed in 3 years. Prior to the Covid-19 pandemic, Suvarnabhumi hosted 65 million passengers, international and domestic, through its arrival gates. The eastern side of the terminal will be large enough to accommodate up to…
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Ferries to Koh Pha Ngan is costing 40% more (and the other islands too)
Business owners on Koh Pha Ngan are demanding cheaper ferry charges after they increased by more than 40% since the start of July, impacting businesses and living expenses. For the average car, the ferry service from Don Sak dock to Pha Ngan with the Raja Ferry increased from 620 baht to 900 baht as of July 1. The Raja Ferry…
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Thailand agrees to build economic community with China
The doom and gloom of the nation’s economy were put to one side momentarily as Thailand and China agreed to build an “economic community with a shared future”, providing a much-needed boost to the kingdom’s prosperity. Thai PM Prayut Chan-o-cha and Chinese Foreign Minister Wang Yi met at Government House yesterday to discuss greater trade, economic cooperation, investment, and connectivity…
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“Thailand should be a luxury and premier holiday destination” – Deputy PM
In the first half of 2022, Thailand welcomed around 2 million international travellers, marking a promising recovery after the Land of Smile’s tourism sector suffered from the outbreak and the restrictions imposed on entry requirements, such as the Thailand Pass. Thailand holiday Thailand holiday But rather than offering significant discounts to attract world travellers, hotels, businesses and private hospitals should…
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Thailand-France business investment discussed in PM meeting
PM Prayut Chan-o-cha recently met with MEDEF International, the largest employer federation in France, to discuss future partnerships with Thailand. Francois Corbin, the Vice President of the Movement of the Enterprises of France, along with other delegates, met with the Thai prime minister on Friday to look at the future of Thai-French business partnerships. French firms are examining the post-pandemic…
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Inflation causing a problem for airlines coming to Thailand
The Thai tourism industry is trying to recover as fewer international flights are now arriving due to inflation as prices of fuel are rising. There are also problems in both Europe and the US with flights being cancelled or with long delays, causing additional travel chaos as the world’s travel and aviation tries to recover. World inflation is also hitting…
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Sri Lanka’s doctors and nurses demand fuel and medicine
Sri Lanka’s medical staff is suffering from a shortage of fuel and medicine. Doctors and nurses say they are struggling to find enough fuel to get to work, even though they are designated, essential workers. On top of this, the island nation is suffering power cuts and shortages of food and medicines. On Wednesday, over 100 medical staff from the…
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Sri Lanka suspends sale of petrol to public for next 2 weeks
The supply of petrol for cars in Sri Lanka has been suspended due to the country’s greatest economic crisis in decades. Only buses, trains, ambulances, and transport needed to deliver food will be permitted to refuel over the next 2 weeks. Authorities revealed that only 9,000 tonnes of diesel and 6,000 tonnes of gasoline are available to support the nation’s…
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China calls for enhanced relations with Thailand
China called for enhanced relations with Thailand ahead of the National Assembly of Thailand’s 90th anniversary. Li Zhanshu, chairman of China’s National People’s Congress Standing Committee, yesterday congratulated the Thai National Assembly for making positive contributions to maintaining social justice and promoting economic development in the kingdom. “The legislatures of China and Thailand have maintained friendly exchanges, and have played…
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To cushion price hikes, Bangkok PT stations will serve 25 baht curry
Price hikes are no fun for anyone, but in the Bangkok area, some groups are trying to cushion the blow of the world’s economic crisis. The Thai Restaurant Association announced today that it will launch a project tomorrow (Monday) to serve curry for 25 baht at PT filling stations across Bangkok and the surrounding area. TRA president Thaniwan Kulmongkol said…
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Thai officials say price of bagged rice won’t jump
In the midst of the world’s ongoing price inflation, Thailand’s Commerce Ministry says retail prices on bagged rice will not jump. The chairman of the Thai Rice Packers Association said in a meeting yesterday that the association has cooperated with the Internal Trade Department to freeze retail prices. The Commerce Ministry has noted, however, that some sellers could reduce promotional…
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Phuket officials say local Sunday market rakes in 2 million baht a week
Phuket officials say that a weekly market in the island province’s main city district has raked in at least 2 million baht a week this month. A local leader said the famous “Lard Yai” Phuket Street Sunday Market has seen a jump in tourists visiting it every week, now that Thailand is slowly winding its tourism industry up again. The…
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