economy
- Thailand News
Thailand News Today | Southern floods, Face mask fines, Thai Air Asia woes | January 8
Thousands of residents in Songkhla, Yala and Narathiwat, in the very south of Thailand, have been evacuated from their homes due to flash flooding from nearly a week of almost continuous heavy rain. Local authorities say a total of 18,024 households across 19 districts have been impacted. In Yala, the Sai Buri River has burst its banks, flooding homes and…
- Business News
Thai Air Asia says new Covid outbreak has destroyed business
The executive chairman of Asia Aviation, the largest shareholder in Thai Air Asia, says the Covid-19 resurgence has “destroyed the low-cost carrier”. Tassapon Bijleveld says that, even without a national lockdown, bookings have plummeted. “Travel sentiment has plunged lower than last year. This is different this time because people are voluntarily skipping their travel plans even without a nationwide lockdown…
- Business News
Thai Airways delays take off in 2021 | VIDEO
Due to the current outbreak of Covid-19, Thai Airways, Thailand’s flagship airline, is reducing its international flight schedule until at least March 27. A limited schedule of domestic flights are still operating as normal under the airline’s domestic carrier Thai Smile. Thai Airways will reduce international flights to the following destinations: Asia •Hong Kong: One daily return flight – TG638/TG639…
- Economy News
Struggling massage parlours petition government for financial assistance
Representatives of Thailand’s spa and massage parlour industry are pleading with the government to provide some form of tailored financial aid to offset the impact of Covid-19. Yesterday, the Charawi Association for the Conservation of Thai Massage submitted a letter to PM Prayut Chan-o-cha, who also chairs the government’s Covid-19 task force. In it, they call on his administration to…
- Covid-19 News
A year of COVID – from Wuhan to World Pandemic | VIDEO
12 months ago the news of a mysterious respiratory illness started to emerge from hospitals in the central Chinese province of Hubei. Chinese health authorities said they were investigating a small cluster of pneumonia-like cases with an unknown cause linked to a seafood market in Wuhan. Those early days have given rise to any number of conspiracy theories that the…
- Thailand News
Majority of Thais think economy will get worse – NIDA Poll
A recent poll has indicated that a majority of Thai respondents think that the economy will get worse this year, along with a continued unrest surrounding the political landscape. The survey by the National Institute of Development Administration was conducted December 24-25 on 1,326 people, aged 18 and over of various levels of education and occupations nationwide by random sampling…
- Thailand News
Deputy PM says relying on tourism is “unacceptable”
Thailand’s deputy PM says that relying too much on tourism is “unacceptable.” In Supattanapong Punmeechaow’s speech, he said that the tourism industry will never be allowed to recover to its previous levels. For years, Amazing Thailand was the nation’s slogan, which brought in $56.2 billion in 2019 alone, but after Covid struck, it is clear that there has been a…
- Thailand News
2020’s movers, shakers and influences (that weren’t Covid) | VIDEO
2020 The big events, the winners and the losers 2020 has been one of the most disruptive years in history, certainly for anyone that has lived since the great depression and the world wars. But although Covid-19 has been the big headline for the year, there has still been highlights and big news in all fields. Some of these big…
- Economy News
Gold sales go up as Thais sell jewelry to pay for routine expenses
With job losses and pay cuts brought on by the pandemic, many Thais are lining up to sell their gold to bring in some cash, like 22 year old Suvirat Namvicha, an office worker in Bangkok who had her overtime expenses cut. Survirat, who is also pregnant, says she needed to sell a gold necklace to pay for her medical bills.…
- Visa Information
Welcome to 2021 – Digital Covid Passports | VIDEO
Documentation, including your current Covid status and vaccination details, will become 2021’s biggest challenge as governments, businesses, and the travel industry try and re-establish some sort of workable way forward. Several companies and technology groups are developing smartphone apps or systems for individuals to upload details of their Covid-19 tests and vaccinations, creating digital credentials that could be shown in…
- Economy News
Thai government plans to amend business, immigration rules, for foreign investors
Foreign investors in Thailand have long decried the onerous, complex, and sometimes downright baffling, bureaucracy that comes with doing business in the Land of Smiles. And it appears officials in Bangkok are finally sitting up and taking notice. Nation Thailand reports that, in an effort to stimulate the ailing economy, the government plans to make some changes to the regulations…
- Economy News
Economy to lose billions of baht from Covid-19 lockdown – Kasikorn Research Centre
The economy will lose billions of baht following the Covid-19 outbreak in Samut Sakhon, just southwest of Bangkok, according to Kasikorn Research Centre. Shutting down the seafood industry in the province, calling off New Year parties in Bangkok and trips being cancelled due to virus fears will cost the economy a total of at least 45 billion baht over the…
- Economy News
Deputy PM says pandemic exposed problems in Thai economy, time to improve
As the Covid-19 pandemic hit economies all over the world with business closures and travel bans, issues with Thailand’s economy were exposed, according to Deputy PM Supattanapong Punmeechaow. The country cannot go back to the way it was before the global outbreak, he says. Thailand’s large tourism industry was battered by the lack of foreign visitors. Small and medium businesses…
- Thailand News
Bank of Thailand says being on US currency “watchlist” won’t have a “material impact”
Thailand being added to the United States Treasury’s “watchlist” for suspected currency manipulation won’t impact foreign trade and investment too much, the Bank of Thailand says. Now that Thailand is on the “monitoring list,” US government says it will keep “close attention” on the country’s currency practices to determine if any measures are intended to gain an unfair advantage in…
- Thailand News
Thailand on US Treasury’s “watchlist” for suspected currency manipulation
Thailand is now on the United States Treasury’s “monitoring list” for suspected currency manipulation, unfair policies to gain an advantage in international trade. Vietnam and Switzerland were both labeled currency manipulators in the US Treasury’s recent report “Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States.” Along with Thailand, the Treasury also added Taiwan and India…
- Economy News
Ministry investigating multiple cases of corruption in government’s co-payment scheme
The government’s “Let’s Go Halves” (Khon La Khrueng) co-payment stimulus campaign has fallen foul of 100s of incidents of fraud, according to the Finance Ministry. Under the scheme, the government subsidises 50% of the cost of food, drink, and other products, up to a maximum of 150 baht per person per day, capped at 3,000 baht per person for the…
- Covid-19 News
Covid overshadows New Year’s plans for many – Dusit poll
As if 2020 wasn’t bad enough, many Thais say ringing in the New Year will be overshadowed by Covid-19 concerns, followed by financial woes and the overall world economy. The Suan Dusit Rajabhat University Poll, asked for opinions on the matter from 1,277 people nationwide on December 4 through December 10, to gauge their New Year’s travel plans. Each respondent…
- Economy News
Thai government urged to support foreign property buyers with additional incentives
The Thailand Development Research Institute is calling on the government to support foreign property investors, by allowing them to bid for residential units. Nonarit Bisonyabut from the TDRI says the measure would be aimed at off-setting a shortfall in local demand. With foreigners usually having higher purchasing power than Thais, he adds that the number of units offered for bidding…
- World News
Air Asia to focus on ASEAN expansion, as CEO expresses cautious optimism for 2021
Air Asia’s chief executive, Tony Fernandes, says the low-cost carrier is planning to expand its presence in Southeast Asia and is in talks to form 3 new airlines. He points out that people still want to travel, and that demand makes him hopeful air travel could be back to its pre-Covid numbers within 6 – 12 months. “At the right…
- Thailand News
Thailand News Today | Thai Airways corruption, Southern floods, Border Covid outbreak | Dec 3
Thursday’s edition of Thailand News Today, including the latest in the local cases popping up in Northern Thailand. Thailand’s most watched English language news. 20 more people suspected of being involved in corruption at Thai Airways 20 people are now under suspicion of corruption and mismanagement within Thai Airways as accountants unravel the massive losses for the airline, spanning a…
- Economy News
Economists say new local Covid-19 cases could slow tourism recovery
Some are concerned about a potential second coronavirus outbreak after 10 Thai women tested positive for Covid-19 after returning from Myanmar’s Tachileik district. Some travelled to Bangkok and Chiang Mai after returning. A second wave of infections will stall the recovery of domestic tourism and Thailand’s overall economy that has been battered by the pandemic, according to the National Economic…
- Events
Pattaya firework party lights up the weekend | VIDEO
After much anticipation, the Pattaya Fireworks Festival lit up the sky this past weekend, delighting spectators with beautiful night beachside spectacle. More importantly, it was the first time Pattaya was packed with tourists since March this year, albeit mostly Thai tourists. The event program was packed with long fireworks shows with hotels offering promotions for advanced bookings in an attempt…
- Thailand News
Thailand News Today | Holiday road toll, protests tomorrow, GDP recovery | November 24
There’s been some heavy downpours around sections of Bangkok over the past few days. We start with some video of the flooded streets. Then, into the news… 139 killed, 653 injured, as Thailand’s holiday weekend sees surge in road accidents The Ministry of Transport has confirmed that hundreds of road traffic accidents have taken place over Thailand’s 4 day holiday…
- Thailand News
Finance Minister says Thailand’s GDP will take 2 years to recover
Thailand’s finance minister says the countrys GDP will take 2 years to recover the 9% it has lost since the Covid pandemic ravaged the economy. Arkhom Termpittayapaisith, the Finance Minister, says the economy would have expanded by 3% this year if it weren’t for the pandemic. “The pandemic crisis will make the economy contract by around 6% in 2020, therefore…
- Economy News
Chief ASEAN economist says protests not helping Thailand’s weak economy recover
Chief ASEAN economist of Nomura, Euben Paracuelles, says Thailand’s current protests are not helping Thailand’s weak economy recover. In fact, Pracuelles says Thailand’s economy is the weakest and slowest in the region, noting that it is in “pretty bad shape”. He further says that the last thing the kingdom needs is something to weaken its recovery and that the current…
- Tourism News
Finally! TAT partners with hotels, airlines, to offer travel stimulus package for expats
The Tourism Authority of Thailand is partnering with airlines and over 300 hotels around the country in another domestic tourism stimulus scheme, this time aimed at expats. It’s understood all foreigners and their families, living in the Kingdom, are eligible to avail of the scheme. The “Expat Travel Bonus” offers a 1,000 baht per night discount on hotel accommodation at…
- Thailand News
Overseas investors buy Thai bonds, optimistic that Covid-19 vaccine will revive tourism
With hopes that a Covid-19 vaccine will be the key to open Thailand’s doors back up to international tourism, overseas investors are putting down money into Thailand’s financial market. Thai baht has strengthened by nearly 3% since the end of October, a top performing currency in Asia following the Indonesian rupiah, and it’s expected to strengthen even further over the…
- Phuket News
Phuket’s tourism high season hopes shattered in policy flip-flop
“The time has come that Thailand must gain confidence from international benchmarks.” Thailand’s leading resort island Phuket has come face-to-face with the reality that it’s tourism high-season will not see a marked reopening to overseas travellers. In the wake of the dismantling of the ‘Phuket Model’ and refocus by the government on using Bangkok as a single international gateway, there…
- Phuket News
Foreign minister meets with Phuket-based diplomats to discuss the island’s future
The Thai Foreign Minister and Deputy PM, Don Pramudwinai, has met with a group of European and Asian diplomats based in Phuket to discuss the future of the southern island province. Attendees came together to talk about economic stimulus measures that could help Phuket, which has been hit hard by Covid-19 travel restrictions and the closure of Thailand’s borders. According…
- World News
Burger King Indonesia urges diners to share the love – by ordering at McDonald’s
The fast food chain Burger King has come in for online praise (and no doubt, some helpful PR) after suggesting its customers in Indonesia should order from other struggling businesses, including rival burger joint, McDonalds. Burger King Indonesia is believed to have followed the example of its UK counterpart, who posted the same suggestion, in a tweet that has since…
