growth
- Business News
Thailand leads ASEAN in gold-driven financial growth, inclusion
Gold’s role in providing financial stability amid global uncertainties is gaining attention as the world moves into 2025. Traditionally linked to prosperity and wealth in Thai culture, gold remains a symbol of celebration during significant family events such as weddings and birthdays. Despite societal changes, gold’s cultural significance continues to drive strong consumer demand in Thailand, evidenced by the nation’s…
- Business News
ADB revises Thailand GDP forecast, warns of slower Asia growth
The Asian Development Bank (ADB) revised its economic forecasts today, upgrading Thailand’s Gross Domestic Product (GDP) projection for this year while maintaining next year’s estimate. However, the bank warns that developing Asia is set to experience slower growth than anticipated, with potential challenges looming due to possible changes in US trade policies under President-elect Donald Trump. Developing Asia, encompassing 46…
- Business News
Thai food for thought: Restaurant sector set for festive tourism feast
The Thai restaurant sector is set to experience a significant boost during the new year festive season, largely driven by an increase in holiday travel and tourism. Despite this optimistic outlook, the Thai Restaurant Association expressed concerns regarding a potential decline in total spending on food and beverages due to weakened purchasing power and the concentration of activities in popular…
- Tourism News
Thailand targets luxury and niche tourism for growth boost
The Tourism Authority of Thailand (TAT) is setting its sights on four niche tourism markets for the upcoming year: wellness, luxury experiences, sports tourism, and honeymoons. This strategic focus aims to tap into the burgeoning trend of high-spending and luxury tourism, with the agency planning to introduce exclusive events across the country. According to Chiravadee Khunsub, the Deputy Governor for…
- Business News
PTT forecasts growth amid rising energy demand, Thai recovery
PTT Plc, Thailand’s state-owned oil and gas conglomerate, anticipates a stronger business outlook in 2024, buoyed by increased energy demand and an improving domestic economy, despite a forecasted dip in energy prices. The high tourism season is expected to drive up domestic oil consumption as both foreign and local travellers contribute to heightened energy usage. Factories are also projected to…
- Guides
Ayasan, a Japanese-Thai home service platform poised for growth
Ayasan Holdings, a Japanese company based in Thailand, is making significant strides in Southeast Asia’s home services market. The company, which offers a comprehensive range of services from housekeeping to elderly care, has built a customer base exceeding one million users since its inception. Notably, the company has doubled its user base over the past two years, securing its position…
- Business News
GDP on the up: Thailand’s economy gears up for 2.7% ‘Thai’ to growth
Thailand’s Finance Ministry is projecting GDP growth of 2.7% for the current year, with expectations to reach 3% in 2025. The Fiscal Policy Office (FPO) announced that while fiscal measures have been maximally employed to bolster the economy, further support from monetary policy is essential for achieving higher growth rates. During the ministry’s economic briefing, Pornchai Thiraveja, FPO Director-General, reaffirmed…
- Thailand News
Leveling up: Thailand gears up to boost esports with global gaming giants
The Government of Thailand is set to bolster the esports industry through collaboration with major global gaming companies, aiming to enhance manpower skills in this rapidly expanding field as announced by Deputy Prime Minister Prasert Jantararuangtong. Prasert, who also serves as the Minister of Digital Economy and Society (DES), visited the Thailand Game Show 2024 at Queen Sirikit National Convention…
- Property
Why you should invest in Bangkok’s real estate market now
Thinking about investing in Bangkok’s real estate market? You’re not alone. With its booming economy and lively tradition, Bangkok has become a hotspot for real estate investors worldwide. The city saw a remarkable 6% growth in property prices last year, attracting both local and international buyers. Bangkok offers a unique blend of modernity and tradition, making it an appealing destination…
- Business News
Software sector grows 12.8%, hits 215 billion baht
The software sector experienced a robust growth of 12.8% last year, reaching a valuation of 215 billion baht (US$6.4 billion), outperforming three other digital sectors. Investment in advanced technologies such as artificial intelligence (AI), data analytics, cloud computing, and cybersecurity bolstered this growth, according to a joint survey by the Digital Economy Promotion Agency (Depa) and IMC Institute. The software…
- Business News
SET unveils sustainable growth strategies amid global challenges
The Stock Exchange of Thailand (SET) has unveiled three core strategies to foster sustainable growth within the Thai capital market amid challenging global financial conditions and political uncertainties. This initiative aims to enhance inclusivity within the market. SET chairman Kitipong Urapeepatanapong, addressing the Thailand Focus 2024: Adapting to a Changing World seminar, highlighted the strategic pillars: bolstering reliability and trust,…
- Thailand News
Most Thai listed companies report Q2 this year profits
Thailand’s stock exchange disclosed that 819 out of 856 listed companies have submitted their second-quarter financial results for this year, with 631 reporting net profits. This represents a significant 77.05% of the companies that submitted financial statements. The Stock Exchange of Thailand (SET) has seen continuous growth in the second quarter of this year. Sales for listed companies in the…
- Business News
Thai banks brace for rising credit risk amid global uncertainties
Large local banks foresee their corporate clients grappling with significant challenges in the second half of the year due to global uncertainties and concerns over a potential US recession. Banks aim to manage asset quality to mitigate rising credit risk among certain customer segments. The Chief Executive of Siam Commercial Bank (SCB), Kris Chantanotoke, highlighted that some corporate customers will…
- Business News
Thai exports to grow by 1 to 2% amid global uncertainties
The Thai National Shippers’ Council (TNSC) expects a modest expansion in export value this year, projecting a growth rate of 1 to 2%. TNSC Chairman Chaichan Chareonsuk confirmed the council’s forecast for 1 to 2% export growth this year, as of August 2024. Despite this optimistic outlook, the TNSC remains cautious due to several unpredictable factors expected in the second…
- Business News
Effective mentorship fuels Gen Z’s career growth and innovation
Generation Z’s growing presence in the workforce necessitates innovative strategies to support their development. Mentorship programmes have emerged as a powerful tool, creating dynamic and mutually beneficial relationships across generations. These programmes address Gen Z’s unique professional aspirations, fostering continuous learning and growth. Effective mentorship programmes for Gen Z extend beyond traditional models where senior employees impart wisdom to junior…
- Business News
MICE industry must prioritise people management to sustain growth
Game-changing People Management was the focus of a recent presentation at the TMX conference, one of the largest fairs dedicated to the meeting, incentive, convention and exhibition (MICE) industry. The discussion highlighted significant opportunities for growth and transformation within this expanding sector. The MICE industry is on a remarkable growth trajectory, with a projected compound annual growth rate (CAGR) of…
- Search Engine Marketing (SEM)
How to gain your first 500 followers on instagram
Are you stepping into the Instagram domain with an exuberance to achieve your initial 500 followers achievement? Whether you are an emerging influencer, an entrepreneur running a small-scale venture, or simply a picture-sharing enthusiast, this advisory content paves the way for accruing a committed Instagram following. Indeed, deciphering the complex environment of Instagram may seem challenging, especially for new entrants.…
- Business News
Thailand’s TV market scores big with global sports events
Thailand’s TV market is poised for significant growth this year, driven by major global sports events, according to LG Electronics (Thailand). The head of marketing at LG Electronics (Thailand), Amnaj Singhachan, highlighted that the UEFA Euro 2024 football tournament, which runs from June 14 to July 14, and the Summer Olympics in Paris from July 26 until August 11, followed…
- Business News
Thailand boosts SMEs growth in upcoming Synergy Expo 2024
Thailand is set to boost marketing opportunities for small and medium-sized enterprises (SMEs) through the newly announced Thailand SME Synergy Expo 2024. This five-day trade show, running from June 19 to 23 at the Queen Sirikit National Convention Center in Bangkok, is a collaborative effort by the Business Development Department (DBD), the Office of SMEs Promotion (Osmep), and several governmental…
- Tourism News
Thailand tourism thrives despite slow GDP growth
Thailand’s tourism sector demonstrates resilience, maintaining momentum despite a GDP growth of only 1.5% in the first quarter, which trails behind its regional counterparts. The Tourism Authority of Thailand (TAT) attributes this robustness to a quicker rebound in tourism compared to other industries and is planning to sustain this through the ongoing promotion of festivals. Reports have shown that large…
- Business News
Thailand seeks new stimulus after Q1 growth falls short
Following Finance Minister Pichai Chunhavajira’s announcement yesterday, Thailand needs additional stimulus measures to unlock its economic potential after experiencing lower-than-expected growth in the first quarter. The country’s economy expanded by only 1.5% year-on-year in the first quarter. This performance, while surpassing analysts’ forecasts, fell short of the 1.7% growth recorded in the previous quarter, said Pichai. “There was still growth…
- Cannabis
How to clone your cannabis plant
The practice of cloning represents a significant advancement in cannabis cultivation, providing the ability to generate numerous plants from a single mother plant. Cloning offers a practical and economical method of preserving the genetic integrity, characteristics, and gender of favoured plants. Cloning should be considered by anyone interested in cannabis cultivation, as it not only conserves financial resources but also…
- Business News
Thailand’s economy grows 1.5% in Q1, beats forecasts
Thailand’s economy experienced a robust start to the year, expanding by 1.5% in the first quarter compared to the same period last year, according to official data released yesterday. This growth surpassed analysts’ expectations, indicating a positive shift for Southeast Asia’s second-largest economy. Every quarter, the economy grew by a seasonally adjusted 1.1% from January to March, as reported by…
- Business News
Central Retail reports 6% revenue boost to 67.3 billion baht
Central Retail Corporation‘s first quarter earnings report revealed a robust performance, with a 6% revenue increase to 67.3 billion baht (US$1.84 billion). Significantly, the company’s net profit jumped by 14% to 2.52 billion baht (US$ 70 million) compared to the same period last year. Under the leadership of Yol Phokasub, the company has seen a notable shift towards omni-channel retailing,…
- Business News
Thailand slashes satellite slot auction prices to attract bidders
The National Broadcasting and Telecommunications Commission (NBTC) is gearing up for a new auction of satellite orbital slots at 50.5° East, 51°E, and 142°E slated for August 23 to September 7, targeting slots that remained unsold in a previous bid. The amended draft for the auction conditions, approved on May 13 by the NBTC board, aims to attract bidders with…
- Search Engine Marketing (SEM)
How to get started with a YouTube channel as beginner
Setting up your channel is way easier than you might think, with a treasure trove of resources just waiting to help you sail smoothly through the setup process. But here’s where the real fun begins: creating content that strikes a chord. It’s all about jumping in with both feet, making those first videos, and learning as you leap. Remember, every…
- Business News
Red Bull’s global charge: TCP Group aims high
TCP Group, the firm behind the manufacture and distribution of Krating Daeng, also known as Red Bull, has set its sights on international markets due to their high growth potential. The management is also keeping an eye on escalating costs. Spearheaded by TCP Group’s CEO Saravoot Yoovidhya, the company observed a growth of merely 4-5% in the energy drink market…
- Business News
Mobile service market to grow 3 to 5% amid tourism surge
The annual growth rate for the mobile service market is forecasted to sit between 3 and 5% this year due to cost-cutting efforts by operators and an increase in mobile traffic and international roaming calls brought on by a surge in foreign tourists. Pisut Ngamvijitvong, a senior equity research analyst at Kasikorn Securities, asserts that these growth factors, along with…
- Business News
AirAsia Cambodia launches anticipates aviation sector growth
A new low-cost airline, AirAsia Cambodia, was launched yesterday marking a significant milestone in Southeast Asian aviation. The chief executive of Capital A, AirAsia’s parent company, Tony Fernandes, anticipates a promising outlook for aviation in the region, driven by an increased influx of Chinese tourists, particularly in Thailand, despite soaring fuel costs and a robust US dollar. “Despite the economic…
- Thailand News
PM highlights enhanced ASEAN connectivity for regional growth
Prime Minister Srettha Thavisin affirmed yesterday the critical role of enhanced ASEAN connectivity in unlocking the region’s full potential and boosting its collective competitiveness. The 62 year old Thai PM revealed this perspective during a virtual gathering for the ASEAN Future Forum 2024, which focused on the theme Towards Fast and Sustainable Growth of a People-Centred ASEAN Community. “Our emphasis…
