economy
- 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
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
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…
- 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…
- 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…
- 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…
- Tourism News
International tourists ‘essential’ to Thai economy, PM says
“If nothing is done, things will get worse. Premises will be shut down. Employees will be laid off. How can the government afford to help them all?” Thailand needs tourists to pick its economy back up, PM Prayut Chan-o-cha says, adding that a system needs to be put in place that would both prevent the spread of the coronavirus and…
- Economy News
Thai exports low, expected to improve over time
Thai exports have significantly dropped, but the Thai Ministry of Commerce seems to have high hopes that it will get back on track. With the coronavirus prevention measures easing up and businesses getting back to normal, the ministry says the it is on the “path to recovery.” Thailand’s exports dropped by over 11.37% and imports plummeted by 26.38% when compared…
- Economy News
Thai education inequality grows, more students need financial aid
Thousands more students are seeking financial help this year, growing the education gap between the rich and the poor. Some families cannot afford to send their children to school due to financial stress brought on by the coronavirus pandemic, chief of the Equitable Education Fund says. Around 1.8 million students applied for financial aid this year. 1.56 million applied last…
- Tourism News
Expats should get travel stimulus deals, Thai Hotels president says
Expats might be included in the next wave of tourism incentives, at least that’s what the new president of Thai Hotels Association is pushing for. Those who live and pay taxes in Thailand should have equal rights as Thai nationals, the association’s president Marisa Sukosol Nunbhakdi says. Thai nationals have been able get deals on travel through the domestic tourism…
- Economy News
Thai economy shrinks, pandemic to blame
The Thai economy is shrinking. A lot. So much that it’s close to hitting as low as it did in the 1998 financial crisis. Some say the coronavirus pandemic is to blame. For the second quarter, the Thai economy shrank by 12.2%, the National Economic Social Development Council says. That’s just a few decimal points away from a low in…
- Economy News
Phuket drivers, tour operators ask Toyota for loan grace period
With the drastic decline in tourism, dozens of van and taxi drivers, as well as tour operators in Phuket say they can’t make payments for their vehicle loans. With around 20,000 baht+ owed per month and little to no income, drivers and tour operators are facing having their vehicles repossessed. This morning, around 50 drivers and operators gathered together in…
- Bangkok News
Thousands of job applicants line up Bangkok hotel before sunrise
Not hundreds, but thousands of job applicants showed up to a Bangkok hotel before the sun came up early yesterday morning. Some slept outside to be first in line to file an application at the Miracle Grand Convention Hotel in the Lak Si district. By 4am, 5,000 people were waiting outside the hotel. The hotel advertised 300 vacant positions and…
