economy
- Thailand News
Thailand News Today | Business people exemptions, road checkpoints, Phuket delay | October 6
Daily TV news on The Thaiger. Up to date information, delivered to you, free. Thai government considers easing restrictions for foreign business travellers The Thai government is considering further easing entry restrictions for foreign travellers coming to conduct business in the Kingdom. Up to date, around 11,000 businesspeople and work permit holders have been granted entry by the Centre for…
- Covid-19 News
Head of economic recovery panel warns of collapse if borders not re-opened now
A businessman heading up an economic recovery panel is warning the government that unless Thailand’s borders are re-opened for the last quarter of the year, the country is headed for total economic collapse. The Bangkok Post reports that Pailin Chuchottaworn says the gradual easing of Covid restrictions in recent months is not enough, insisting the country must re-open to international…
- Tourism News
Global tourism plunges up to 80% in 2020
Internationally, tourism will plunge between 60 – 80% by the end of the year. The UN World Tourism Organisation makes the forecast in their latest report. The prediction, broad and probably conservative, will put millions of workers in the world’s tourism industry, out of work. In Thailand, with its reliance on tourism as a significant contributor to its GDP, will see…
- Economy News
Finance Ministry mulls stimulus packages to boost property sector, consumption
The new permanent secretary at the Finance Ministry, Krisada Chinavicharana, says officials are considering additional stimulus measures to support Thailand’s property sector and to further boost consumer spending. Krisada says he plans to meet with senior officials to debate more ways to get the economy going again, as the impact of the Covid-19 pandemic continues to make itself felt. He says…
- Expats
Expat shift drives changes in Bangkok’s condo market
Thailand’s dominant working expat nationality in past decades has been Japanese, currently making up 18% of expatriates in the country. But, while Japanese expatriate numbers are decreasing, a CBRE report notes that Chinese and Filipinos are on the rise. There were 28,560 Japanese expats in Thailand as of Q3 2020, just ahead of the Chinese expat contingent at 25,811. As China’s manufacturing has…
- Thailand News
Thailand beaches may limit visitors until Covid-19 vaccine is available
Beaches and national parks might not fully open to international tourists until a Covid-19 vaccine is available. Around 120 to 150 tourists departing from China are set to arrive in Phuket on October 8 after a 6 month ban on international tourists. They’ll have to go through a 14 day state quarantine, but after that, they may not be able…
- Economy News
Cabinet to approve co-payment of 3,000 baht each for 10 million consumers
In its latest round of direct economic stimulus, the Thai government is to offer a co-payment of 3,000 baht each to 10 million Thai citizens for a period of 3 months. The scheme is expected to kick off on October 23 and run up the end of the year, with the co-payment subsidising half the cost of purchases, but excluding…
- Thailand News
Government to stir economy with 100 billion baht stimulus starting in October
The Thai Government is expected to stimulate the economy with 100 billion baht boost starting in October until the end of the year. The injection will reportedly come from both the people’s and the government’s spending under three stimulus measures according to the Deputy PM Supattanapong Punmeechaow. The first measure will reportedly give 14 million welfare cardholders an extra 500…
- Economy News
Deputy PM says 2 years until Thailand’s economy is back to normal
It’s going to be another 2 years until Thailand’s economy is back on track, according to Deputy PM Supattanapong Punmeechaow. At least that’s the amount of time he expects it will take to get the economy back to “normal levels” from before the coronavirus pandemic. The coronavirus crisis crippled economies across the globe. The Covid-19 pandemic is already the worst…
- 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
Ministry of Labour, CP Foods to hire 8,000 graduates to help reduce unemployment
To help reduce unemployment and boost the economy after the pandemic, 8,000 graduates will be hired by the company Charoen Pokphand Foods, known as CP Foods. Thailand’s Ministry of Labour recently signed a memorandum of agreement with the company. 4,000 of those jobs will be in Bangkok and metropolitan areas while the other 4,000 more in the upcountry. The job…
- Thailand video news
Thailand News Today | Protesters face arrest | Phuket “in a coma”| September 22
Thailand News Today with Tim Newton. Daily news from around Thailand. Struggling airlines to get reprieve through small loans, extension to fuel tax cut Airlines in Thailand are being offered a financial lifeline, as the Government Savings Bank announces soft loans for carriers left struggling as a result of the current Covid-19 ‘disruption’. The GSB is offering the loans over…
- Business News
Struggling airlines to get reprieve through small loans, extension to fuel tax cut
Airlines in Thailand are being offered a financial lifeline, as the Government Savings Bank announces soft loans for carriers left struggling as a result of the current Covid-19 ‘disruption’. Nation Thailand reports that the GSB is offering the loans over a 60 month period, with an annual interest rate of 2%. Chairman Patchara Anuntasilpa says the proposal will shortly be…
- Tourism News
Phuket’s governor calls for help in restoring island’s economy
The governor of Phuket has likened the southern province to a “patient in a coma”, as he pleads for help to restore its devastated economy. According to a report in the Bangkok Post, Phuket Governor Narong Woonciew was addressing a Public Health Association forum, where he highlighted the economic crisis caused by the ongoing ban on international tourists. The island’s…
- Tourism News
Thailand details new visa strategy to welcome rich tourists
The Thai government has revealed their detailed strategy to bring back “rich” tourists while keeping Covid numbers low. The plan, to be rolled out next month, has been touted by officials as a way to help recover Thailand’s hard hit tourist economy, but some say the government needs a reality check. The Tourism and Sports Authority Minister claims the plan…
- Visa Information
Special Tourist Visa – now officials want you to ‘quarantine’ in your home country before coming to Thailand
On one hand the Thai government unveils its big ‘plan’ for a Special Tourist Visa, allowing minimum stays of 90 days, extendable to 270 days (almost 9 months). On the other hand they have put up a list of restrictions that, at best, will severely restrict any return to ‘normal’ tourism in the country. Apart from the local 14 day…
- Things To Do
Things that have changed in Thailand in the Covid Era | Top 10 | VIDEO
Top 10 things that have changed in Thailand during the Covid-era Things have changed. In some cases they’ve changed a lot and may never be the same again. Many people are suffering as a result of the impacts of lockdowns and the border closures. Some people are being forced to re-invent their lives as a result. Here are some of…
- Bangkok News
First airplane food cafe, now Thai Airways opens fried dough stand
Since not much is happening in the air, Thai Airways is running new business schemes on the ground. For their newest venture, the company opened a deep fried dough street food stand. They say the fried dough with taro custard is an “award winning” recipe. Thai Airways has already opened a pop-up restaurant serving “in flight” food to customers seated…
- Economy News
Budget airlines ask for lifeline, no answers from PM
No surprise that one of the biggest industries to suffer from the border closures and travel restrictions was the airlines. Whilst there has been a gradual reboot of domestic travel within Thailand, there is still a ‘fear’ factor and reticence to travel. And the carriers are restricted to the domestic routes and have lost an entire sector of their businesses…
- Economy News
Business closures up 38%, pandemic ‘scarring’ the economy
“The pandemic is scarring the economy, especially with the business closures and unemployment.” The coronavirus pandemic has led to a spike in business closures in Thailand, increasing nearly 40% since last year, and those numbers are expected to continue to go up. Many of those businesses were in the tourism industry, a sector that has been crippled by the halt…
- Economy News
Asia Pacific’s smartphone market declines by 20% during pandemic
“The region’s smartphone market was hardest hit in the second quarter when many countries here entered lockdown mode. This was also when we started observing new trends emerging and the corresponding shifts in consumer demand for durable goods.” People are buying fewer smartphones this year. The once robust and thriving industry has been on a downward slope in the Asia…
- Economy News
Bankruptcy Court approves Thai Airways debt restructuring plan
The Central Bankruptcy Court approved Thai Airways International’s debt restructuring plan. An official says the approval is just a “tiny step” in the process estimated to take years. With the approval, the international airline company can now start discussions with debt holders. The 60 year company is reportedly facing its biggest challenge: bankruptcy during a global pandemic with international travel…
- Bangkok News
Global economics report expects Bangkok to have the highest tourist drop
International travel restrictions have crippled Thailand’s tourism industry so much that Bangkok might end up with the highest loss of tourists out of all the major cities in the world. A report from the global forecasting company Oxford Economics predicts Bangkok will lose about 14.5 million incoming foreign tourists by the end of the year. Cities across the world are…
- Bangkok News
Bangkok expo planned to fill 1 million job vacancies
Thailand has a lot of job opportunities. About a million. The Labour Ministry is hosting an expo to connect job seekers, especially recent university graduates, with companies. For recent graduates, a new government initiative co-payment system will take care of half the salary. Job Expo Thailand 2020 will run from September 26 to 28 at Bangkok International Trade and Exhibition Centre,…
- Opinion
“Thai government refuses to acknowledge the red light economy”
OPINION Thanks to WB for sending us this response to earlier article. The views expressed by WB do not represent The Thaiger, its management or staff. Prostitution is not illegal in Thailand, although many activities associated with it are (brothels, pimping, causing a public nuisance, etc.). Nevertheless, it was estimated to be worth US$6.4 billion a year in revenue (2015),…
- Thailand News
Thai Kra Canal – numbers don’t stack up
OPINION The possibility of Thailand being sliced into 2, with a canal running east to west through the middle of the Isthmus of Kra (the Thai section of the Malay Peninsula), is back on the table. There’s a lot of heated response from readers, for and against the plans. Is there an economic model to support the new canal? How…
- Tourism News
3 to 4 years for tourism revenue to recover, research centre says
It’s going to take years for Thailand’s tourism revenue to recover. A lack of international tourists caused income to drastically drop and it’s going to be at least 3 to 4 years until revenue is back to normal, according to the Krungthai COMPASS Research Centre. Many tourism companies are also changing their marketing approach to stay in business, focusing on a…
- Economy News
Source says 3,000 baht handout coming soon, PM says it’s a rumour
Thais are getting some extra cash … Well, maybe. Reports say a 3,000 baht cash handout scheme is in the works to help revive the economy after the pandemic, but PM Prayut Chan-o-cha told the press it’s just a rumour, saying the Thai government “does not plan cash handouts of another 3,000 baht to Thais.” An anonymous source from the…
- World News
A Land Bridge or the Kra Canal for Thailand?
OPINION by guest writer Tony P Restall Why the land bridge idea will never work Much has been written about the long-proposed Thai or Kra Canal and the on and off decision to proceed, or not. Over the recent years several high-level committees have examined the economic benefits to establish a water connection by means of a canal linking the East…
- Opinion
Returning happiness back to the Thai people. So how’s that going?
OPINION “The flames are rising. Let us be the ones who step in, before it is too late.” Lyrics from the Prayut-penned ditty which was written to help “heal” Thais after the May 2014 coup. The event, some 6 and a half years ago now, brought then-General Prayut Chan-o-cha to the helm of the good-ship Thailand. Following the writing of a…
- Pattaya News
Pattaya businesses say they desperately need foreign tourists to stay open
“If borders stay closed to international tourists for another 6 months, nearly the entire tourism industry in Pattaya could collapse.” Pattaya needs tourists. The city’s famous Walking Street could go under if international tourists aren’t let back in the country, according to the resident business owners. Many shops have already closed, after re-opening in June when the restrictions were lifted,…
- Economy News
Government approves new stimulus measures for labour market, tourism
The Centre for Economic Situation Administration has given the go-ahead to a number of new stimulus measures proposed by the Finance Ministry and aimed at the jobs market and the domestic tourism sector. PM Prayut Chan-o-cha yesterday presided over a meeting with Danucha Pichayanan from the National Economic and Social Development Council, where officials approved new measures it’s hoped will…
- World News
Australia falls into a recession, global economies at a loss
“Our record run of 28 consecutive years of economic growth has now officially come to an end. The cause: a once-in-a-century pandemic.” Just about everyone hit from the coronavirus pandemic. Businesses closed. Many lost their jobs. Paychecks were cut. Economies across the globe slipped into recession and Australia is now added to that list. The country reported it has sunk…
- Economy News
Government’s economic task force meets to discuss job creation, “Phuket Model”
The government’s Covid-19 economic management team meets today, with a number of stimulus measures expected to be announced. Nation Thailand reports that officials plan to discuss job creation for graduates, along with yet more talks on how to safely welcome international tourists. Deputy PM and Energy Minister, Supattanapong Punmeechaow, says any measures announced are expected to be short-term. The government…
- Tourism News
Bank of Thailand issues stark warning over ongoing ban on foreign tourists
The Bank of Thailand has issued a sombre warning that the ongoing ban on foreign tourists returning to Thailand may have an even worse impact next year. Don Nakornthab, from the BOT’s economic and policy department, says if international tourists are not allowed back into the country soon, Thailand’s tourism industry will face even bigger threats next year. A report…
- World News
Thailand planning land and rail passageway, bypassing congested Strait of Malacca
Thailand hopes to shorten shipping time by bypassing the busy Strait of Malacca with a 100 kilometre highway and railway passageway. Discussions are underway to construct 2 deep seaports on both sides of the country’s southern coast, which would be linked via rail and highway. The latest proposal replaces the Kra Canal plan, which was talked about for decades. That…
- Northern Thailand News
Public concerned with costs of MRT’s Isaan project
Money is a main concern for businesses and investors involved in a project by the Mass Rapid Transit Authority of Thailand to construct an electric light rail train line in the Isaan province Nakhon Ratchasima. Some say MRT should reconsider the type of train planned for the project and go for a more cost efficient option. Province’s proposed MRT Green…
