economy
- 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
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,…
- 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…
- 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…
- 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…
- Business News
GrabFood hungry for more customers
The lockdown boosted food delivery sales, but GrabFood is still hungry for more customers. They’ve launched a major marketing campaign called “Feed Your Hunger” with discounts and deals to get more people ordering food through the mobile application. The campaign goes from now until October 4. They’re offering free delivery service for those in a 3 kilometre radius. Many of…
- 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
Thai education set to change, prepare students for the future
Teachers may have to mix things up in the classroom. Thailand education officials are planning to change teaching with a new model they call “Education Eco-System.” The goal is to prep students for the rapidly changing future, the Education Ministry says. Along with a new curriculum, tests will be used less to evaluate students. With demands for a competitive labour…
- 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…
- Phuket News
Phuket officials outline plans for economic recovery
As Thailand’s tourist hot spots struggle under the devastating economic impact of the Covid-19 pandemic, officials in Phuket are attempting to kick-start tourism in the province. Focusing initially on domestic tourism, deputy governor Pichet Panapong hopes a number of planned events will draw visitors to the southern province. The Phuket Seafood and Gastronomy Festival, which started at the weekend and…
- Economy News
PM says economy is top priority in address to the nation
Thai PM Prayut Chan-o-cha says reviving the country’s economy is the top priority of his administration. In an address to the nation, he says the current global economic crisis, a fallout of the Covid-19 pandemic, is likely to continue until the end of 2021, with Thailand’s economic performance inevitably connected to that of the rest of the world. He points…
- Covid-19 News
Aviation Authority monitoring global Covid situation, no re-opening of Thai skies yet
While the Civil Aviation Authority of Thailand gave the green light for more international arrivals to enter the country from July, it says there will be no further re-opening for the time being. However, Director-General Chula Sukmanop says the CAAT will continue monitoring developments, in particular improvements in the Covid-19 situation in other countries. He adds that any decision to…
- Economy News
Trending upwards, but consumer confidence in Thailand still at a 22 year low
A leading academic says that despite an upward trend, consumer confidence in Thailand still sits at a 22 year low as a result of the economic impact of Covid-19. Thanavath Phonvichai from the University of the Thai Chamber of Commerce, says the pandemic’s devastating effects on tourism, employment, and exports, is mostly to blame, coupled with concerns over the ongoing…
- Economy News
Thailand’s GDP forecast to fall up to 9% this year
Thailand’s GDP is set to fall 7-9%, year-on-year, according to the Joint Standing Committee on Commerce, Industry and Banking. The fall is, not surprisingly, being fallout from the catastrophic drop in tourism and lower exports. Kalin Sarasin, chairman of the Board of Trade of Thailand, says the expected contraction was revised downwards from 5-8%. The committee also predicted exports would drop…
