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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Sponsored Why health insurance costs more each year and how expats in Thailand can save more money
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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Young Thais increasingly rent homes due to high prices
A recent survey by DDproperty reveals that young people are increasingly opting to rent homes rather than buy them due to high prices and insufficient savings. Concerns about managing financial liquidity in an uncertain economy also play a significant role in this trend. The survey highlights that financial factors are the primary reason why consumers prefer renting. More than half,…
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Top 10 most developed provinces in Thailand (Excluding Bangkok)
Thailand is divided into 76 provinces, each contributing to the nation’s vibrant tapestry. Among them, certain provinces stand out for their technological advancements and economic prowess. For instance, Chonburi, recognised as the most advanced province in terms of industrial development and tourism, showcases how innovation can thrive alongside natural beauty. These developed provinces not only lead in technology but also…
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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…
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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…
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Thailand gets into gear as US-China tensions boost its economy
As the United States and China continue their economic tug-of-war, Thailand has ultimately emerged as an unexpected beneficiary on the global stage. The Southeast Asian nation is poised to become a formidable player in the electric vehicle (EV) industry, a development that could reshape the automotive landscape in the region and beyond. This revelation came to light during the 4th…
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Finance Ministry to open new welfare card registrations in March
The Ministry of Finance plans to open new registrations for the State Welfare Card early next year, around March. This follows the last registration period from September 5 to October 31 back in 2022, aiming to review the eligibility of participants every two years. Currently, the number of registered users has decreased from the previous 14.9 million to approximately 13.5…
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Finance ministry urges higher inflation target for policy rate flexibility
The Finance Ministry suggested adjusting the inflation target for next year to a range of 1.5 to 3.5%, up from the current 1 to 3%, to grant the Bank of Thailand (BoT) more flexibility in lowering the policy rate. A ministry source, who wished to remain anonymous, indicated that this change would enable the central bank to reduce the policy…
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Thailand’s LGBTQI+ discrimination costs the economy big time
Thailand’s economy is losing billions, and discrimination is the culprit. A new report by Open for Business reveals that LGBTQI+ exclusion is costing the nation a staggering 51.8 to 121.8 billion baht annually. This shocking figure comes from a mix of lost wages, healthcare costs, and missed economic opportunities, all linked to ongoing discrimination against the LGBTQI+ community. The report,…
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Thailand welfare card benefits updated for October
Thailand’s Comptroller General’s Department has updated the welfare card benefits for October. Eligible individuals will receive various allowances and benefits starting this month, including purchasing allowances, transport subsidies, and additional disability payments. The welfare card benefits for October began on Tuesday, October 1. Teeraporn Phasuk, Deputy Director-General of the Comptroller General’s Department and spokesperson for the department, stated that those…
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Penny-wise, pound foolish: Thailand’s budget delay leaves fiscal year in arrears
The Government of Thailand’s delayed budget approval led to significant underinvestment in the previous fiscal year, according to the Comptroller General’s Department (CGD). The state budget for the fiscal year is divided into a fixed fund and an investment fund. For fiscal 2024, which ended on September 30, the fixed fund amounted to 2.8 trillion baht (US$84 billion), covering expenses…
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Agriculture minister vows to expedite debt relief for farmers
Ekaphap Phonsue, spokesperson for the Ministry of Agriculture and Cooperatives, revealed that Saikrai Pimbueng, a committee member and secretary of the Farmers’ Rehabilitation and Development Fund (FRDF), recently met with Narumon Pinyosinwat, the Minister of Agriculture. The meeting aimed to discuss policies and actions concerning Thai farmers’ issues. Saikrai detailed that since 2019, the previous government had considered restructuring farmers’…
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AIS launches 5G movie package for youths at 299 baht monthly
AIS ZEED 5G launched the AIS ZEED 5G Movie Lover package, catering to youngsters who love watching movies and entertainment content both in cinemas and online. This package offers one free cinema ticket per month and a second ticket for just 50 baht at Major Cineplex theatres nationwide. Additionally, subscribers receive 10 gigabytes of high-speed Internet for streaming premium content…
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Thai Airways to issue new shares worth 42 billion baht
Thai Airways International Plc (THAI) is set to issue new shares valued at a minimum of 42 billion baht by December, marking a significant move towards concluding its court-monitored debt restructuring and resuming trading on the Stock Exchange of Thailand (SET). The national airline plans to offer 6.81 billion new shares to creditors as part of a debt-to-equity swap, as…
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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…
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Lettuce pray: Market shoppers face steep prices ahead of Pattaya Vegetarian Festival
The Rai Vanasin Market in East Pattaya was buzzing with anticipation yesterday as eager shoppers scrambled to stock up on fresh produce for the upcoming Pattaya Vegetarian Festival, which kicks off today, October 2 and runs until October 12. However, as the crowds grew, so did the prices – with many vegetables seeing eye-watering surges just days before the festival…
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Thailand to increase minimum wage to 400 baht by year-end
Thailand’s Labour Ministry has assured the public that a minimum wage increase to 400 baht will be implemented nationwide by the end of the year, as stated by Phiphat Ratchakitprakarn, the Labour Minister. The tripartite wage committee is currently awaiting the official appointment of two new members: the Permanent Secretary of the Ministry of Labour and the Director-General of the…
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PTT station to lower petrol prices, diesel remains unchanged
PTT Station will lower petrol prices today, while diesel prices remain unchanged. PTT Station announced a reduction in retail petrol prices by 30 satang per litre across all types of gasoline yesterday, September 30. This change will take effect from 5am today, October 1. Petrol prices will be adjusted as follows: gasoline will be 43.14 baht per litre, Gasohol 95…
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Finance ministry sees record revenue of 14.4 billion baht
The Ministry of Finance announced that the Treasury Department has achieved record-breaking revenue collection for the fiscal year 2024, amounting to 14.4 billion baht. This represents a 57.9% increase from the previous year and exceeds projections by 25.4%, marking the highest revenue since the department’s establishment on September 30, 1924. The Deputy Minister of Finance, Paophum Rojanasakul attributed this remarkable…
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Thailand’s local businesses get a global boost: It’s time to trade up
Strengthening Thailand’s local businesses to compete on the global stage could be a game-changing strategy for revitalising the national economy, according to Bank of Thailand Governor Sethaput Suthiwartnarueput. Sethaput is advocating for the implementation of “globally competitive localism,” a concept that leverages the strengths of local entrepreneurs, such as cultural assets, to create value-added products and services. This, he believes,…
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Reel deal: Thai man is squids in with government digital wallet
Among the many recipients of the government’s digital wallet handout is a 66 year old Thai man who transformed his share into a thriving small business selling grilled squid. State welfare cardholder Suwit Inrat, also known as Uncle Ood, received the handout money via his Krungthai Bank account around 2am today, September 27, prompting Suwit to spring into action. With…
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Gen Z goes wild for Thailand’s ‘Mutelu’ faith economy
A new survey by Zanroo, a social media data expert, revealed that young Thais are leading the charge in an occult frenzy, racking up billions of engagements online. Zanroo’s study found that Gen Z, those aged 12 to 27, show the highest interest in Mutelu – a term derived from the Indonesian horror film Mutelu: Occult War. The word now…
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Gypsy cash dash: Phuket locals swarm ATMs for 10k baht handout
Hundreds of sea gypsies in Phuket flocked to ATMs at Laem Tukkae, Koh Sirey, Ratsada subdistrict on Wednesday, September 25, as part of the Thai government’s 10,000 baht handout scheme for vulnerable citizens. The scheme, aimed at state welfare cardholders and disabled individuals, is part of a broader economic stimulus programme. A national report noted that the sea gypsies, still…
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Mortgage growth in Thailand hits 23-year low at 1.2%
Kasikorn Research Center (K-Research) projects a mere 1.2% growth in mortgages within the commercial banking sector this year, marking the lowest expansion rate in 23 years. This subdued growth is largely due to the weakened purchasing power of potential homebuyers. According to Kanjana Chockpisansin, head of banking and financial sector research at K-Research, the second quarter of 2024 saw commercial…
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NHRC urges Thailand to rethink Southern Land Bridge project
The National Human Rights Commission (NHRC) is urging Prime Minister Paetongtarn Shinawatra to reconsider the Southern Land Bridge megaproject, highlighting concerns about its environmental impact and implications for local communities. The NHRC supports its call with findings from various studies conducted by state agencies. Council member Sayamol Kaiyoorawongs stated that the prime minister should direct the Office of Transport and…
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Thailand aims to eradicate poverty in two years
Thailand aims to eradicate poverty and build a prosperous economy within the remainder of its term, an adviser to PM Paetongtarn Shinawatra revealed. With just over two years left in office, the 38 year old prime minister is determined to ensure that Thais can rise above poverty, stated Surapong Suebwonglee, deputy chairman of the five-member advisory panel appointed by PM Paetongtarn.…
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Bangkok delists more than 10,000 inactive companies
The Department of Business Development (DBD), under the Ministry of Commerce, announced the removal of 11,515 companies from the Bangkok business registry. The announcement, dated September 2 and 16, cited two primary reasons for this action. The first reason involves 8,420 companies that have not submitted their financial statements for three consecutive years, leading to the assumption that these companies…
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Thailand digital wallet handout falls short: Woman gets only 4,000
A Thai woman attempting to withdraw 10,000 baht for her father, as part of the Thai government’s digital wallet handout for vulnerable groups and people with disabilities, received only 4,000 baht, sparking suspicions of debt deductions by the bank. In Uthai Thani province, the government commenced disbursing 10,000 baht to vulnerable groups and those with disabilities. From early morning, recipients…
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Hong Kong back in top 3 global financial powerhouses
Hong Kong is back with a bang, reclaiming its position as the world’s third-leading financial centre, overtaking Singapore for the first time in over two years. According to a report published yesterday, September 24, by the Global Financial Centres Index (GFCI), Hong Kong’s strategic moves have paid off as it storms ahead in the latest rankings. In the 36th edition…
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Thailand’s universal healthcare won’t ‘break the bank’ says minister
Thailand’s Ministry of Public Health remains confident that the universal healthcare programme will not face financial difficulties, according to Health Minister Somsak Thepsutin. The government has allocated a central budget of 5.9 billion baht for the scheme for the fiscal year ending September 30. Somsak provided this update following a National Health Security Board meeting, where participants discussed plans for…
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I’m hiring it: McDonald’s Thailand adds Texas Chicken crew to menu
McDonald’s Thailand is welcoming employees from Texas Chicken, which is set to close at the end of this month. Yesterday, September 23, McDonald’s Thailand’s Recruitment Facebook page posted a message specifically inviting Texas Chicken employees to apply for positions at McDonald’s, which operates over 230 branches across the country. “To our friends at Texas Chicken, we are saddened to hear…
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