economy
- Crime News
3 stores investigated for potential fraud in government co-payment scheme
Officials are investigating 3 businesses for possibly de-frauding the government under the “Let’s Go Halves” stimulus scheme introduced last month. The co-payment plan launched on October 16 in an effort to boost domestic spending. Under the scheme, 10 million citizens can avail of discounts on purchases at participating stores of up to 150 baht a day, capped at 3,000 baht…
- Phuket News
What is the future of Phuket and Samui? VIDEO
Let’s review the last 2 days when the Thai PM and the cabinet cavalcade headed to the southern islands of Phuket and Samui. Did their visit come up with any solutions that could help the islands and their economic crisis? Please watch the video and subscribe to our YouTube Thaiger channel. Thailand’s PM, Prayut Chan-o-cha has just spent the last…
- Economy News
Inequality likely after economic recovery – Bank of Thailand governor
It’s expected to take at least 2 years for Thailand’s economy to recover, but once it does, inequality is likely to become a top concern, according to the Bank of Thailand governor Sethaput Suthiwart-Narueput. “It is expected to take at least two years before the Thai economy returns to its pre-pandemic levels in terms of GDP… Even when the economy…
- Phuket News
PM calls for long-term plans to revitalise Phuket and Koh Samui
PM Prayut Chan-o-cha is calling for long-term plans to rehabilitate Thailand’s tourist destinations following his visit to Koh Samui and Phuket where he saw first hand how the Covid-19 pandemic affected both islands. Prayut says conditions at Phuket are much more drastic as the province heavily relies on international travel. The prime minister says Phuket generates the second-highest income from…
- Thailand News
Schools advised to improve online learning in case of second Covid-19 outbreak
Thailand schools are told to get ready for a possible second wave of Covid-19 and prepare to for lockdown measures – just in case – to make sure all children have equal access to education. An economist warns that the education gap between rich children in urban areas and poor children in rural areas could widen if schools shut down…
- Economy News
Permanent residency, changes to quarantine period – Government mulls strategies to revive economy
“The government is considering offering permanent residency to those buying condos in the Kingdom.” Energy minister and deputy PM Supattanapong Punmeechaow has outlined a number of strategies the government hopes will help the Thai economy recover from the Covid-19 fallout. Permanent residency for some condo purchases, changes to the mandatory quarantine and incentives for foreign investment are all under discussion.…
- Economy News
“Protests could affect the economy” – Bank of Thailand
The ongoing political protests could have a negative impact on Thailand’s already crippled economy by weakening domestic consumption and tourism even more, according to the Bank of Thailand. The bank’s newly appointed governor Settaput Suthiwart-Narueput, who started this month, says they need to keep a close watch on the situation. “Basically, the political factor is one of the uncertainties… It…
- World News
Up to 5,900 jobs to go as Hong Kong carrier Cathay Dragon shuts down
Hong Kong airline Cathay Pacific is set to close its subsidiary, Cathay Dragon, with the loss of up to 5,900 jobs. The carrier, that used to be called Dragon Air before being absorbed by Cathay, has become yet another casualty of the Covid-19 pandemic that has decimated the aviation business. The Bangkok Post reports that 5,300 jobs are expected to…
- Phuket News
Phuket’s annual Vegetarian Festival expected to draw in 350 million baht
WARNING: Graphic photos and video below. After months and months of an economic slowdown induced by the coronavirus pandemic and the lack of tourists, thousands of people are expected to arrive to Phuket over the next 2 weeks to take part in the annual Vegetarian Festival. It’s expected to generate more than 350 million baht, according to the Tourism Authority…
- Phuket News
Phuket tax revenue plummets during pandemic – VIDEO
The Covid-19 pandemic led has tax revenue in Phuket to be cut in half. Border closures, banning international tourists, has caused the tax revenue for the popular island destination to plummet. From January to August, total tax receipts year on year fell by more than 46%, according to data from the Phuket Area Revenue Office, obtained by The Phuket News. In…
- Economy News
Bangkok office rents drop for the first time in 10 years
As the coronavirus pandemic continues to take a toll on Thailand, and the region’s, economy, Bangkok office rents and occupancy rates are expected to drop after consistent growth over the past 10 years, according to Colliers International Thailand. It will be the first contraction in that sector since 2010, according to the property consultancy’s associate director of research and communication,…
- Tourism News
Domestic tourism survey indicates long road to recovery
“Entrepreneurs in the tourism industry need to adjust their strategy to suit consumer behaviour in the new normal era.” A government survey looking at the travel habits of domestic tourists indicates an uphill struggle for the tourism industry’s recovery. Pimchanok Vonkorpon, from the Commerce Ministry’s Trade Policy and Strategy Office says around a quarter of those surveyed travelled during weekends…
- Thailand News
The Pattaya to Hua Hin bridge. Government discusses 900 billion baht investment.
The government is looking into a so-called “Thai Bridge” that would connect Pattaya to Hua Hin, an estimated 900 billion baht investment. The project would be part of the Eastern Economic Corridor development plan aimed at improving the transportation and infrastructure in Thailand. The 900 billion baht investment is expected to take 10 years to financially implement, according to chairperson…
- Covid-19 News
China’s economy expected to grow 1.6% in 2020 – World Bank
Much the world is currently seeing continuing surges of new Covid-19 cases, some countries are well into their 2nd wave. Meanwhile China is quietly getting it’s industrial engine and economy going again as new cases. In fact China’s number of ‘active cases’ has been dropping since April, and now is fewer than 200 total cases across the country. Along with…
- Economy News
Chiang Mai’s economic losses to reach 100 billion baht due to Covid-19 pandemic
Chiang Mai’s economic losses are estimated to reach 100 billion baht after Covid-19 ravaged the city’s tourism industry. The Bangkok Post reports that Varodom Pitakanonda, the president of The Chiang Mai Chamber of Commerce, says the city’s revenue from tourists “contracted severely this year due to the coronavirus”. “Now, we are pinning our hopes on government stimulus packages to salvage…
- Thailand News
Thailand News Today | Army v Twitter, Tourism interrupted, Thailand World’s #6 | October 9
Clerk calls out Thai Army for alleged corruption An army clerk is calling out the Thai Army for alleged corruption, saying he was forced to withdraw money under his name which was then falsely documented as a travel expense. The clerk at the army’s Ordnance Material Rebuild Centre posted photos of documents on Facebook, showing the withdrawal listed as a…
- Tourism News
Thai health officials propose flights from the Middle East for medical tourists
Public health officials are discussing scheduling flights from the Middle East for medical tourists seeking treatment in Thailand. Deputy Public Health Minister Sathit Pitutecha says the move to bring foreign patients, who are free of Covid-19, to the country’s hospitals could “potentially boost Thailand’s economic growth during the Covid-19 pandemic.” There are about 10,000 people around the world who seek medical…
- Economy News
Key foreign investors could be exempt from quarantine
Key foreign investors might get to skip out on the 14 day quarantine required for travellers entering Thailand. Allowing high spending investors a free pass on the isolation period is aimed to help revive the economy after it was battered by the pandemic. The Centre for Economic Situation Administration, or CESA, is expected to discuss the proposal today. Special measures…
- 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…
- 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…
- 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…
- 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…
