growth
- Thailand News
Despite a better performance in first quarter, Thailand’s GDP may not impress in second
Despite performing better than predicted in the first quarter, Thailand’s gross domestic product may not be as impressive in the second quarter. As the first quarter saw a contraction of 2.6% year on year, analysts say the contraction was better than predicted. Now, an Oxford Economics report says the recent third wave in Covid-19 may prevent the GDP from seeing…
- Economy News
Somkid outlines a bright future for Thai economy
Thailand is poised to soar in the global market with heightened investment attraction and a massive budget earmarked to rejuvenate the economy in the fourth quarter, as the Covid-19 pandemic eases, according to Deputy Prime Minister Somkid Jatusripitak. Mr Somkid says the government also plans to enhance financial cooperation with China and Hong Kong that will lead to business expansion…
- Covid-19 News
Opportunities for 2020 export growth in Thailand
Despite the whirlwind of shutdowns, lockdowns and craziness descending on Thailand at the moment, the departments are still churning out numbers and trying to forecast the way ahead. They say that, due to the Thai baht weakening and massive government interventions around the world for both monetary and fiscal policies, there is still a chance that Thailand could reduce the…
- World News
Myanmar tourism increases a massive 40% in 2019
Myanmar has ranked highest among the world’s 20 quickest-growing travel destinations over the past 12 months. The report from the United Nations World Tourism Organisation. Vietnam and The Philippines are also regional winners over the past year that made it into the top 10 best performing emerging travel destinations. Myanmar Tourism Marketing, part of the Myanmar Tourism Federation, reports that…
- Events
2nd annual Thailand Game Expo opens at BITEC in Bangkok
AIS and M Vision have kicked off the 2nd Thailand Game Expo at the BITEC centre (Bangkok International Trade & Exhibition Centre) in Bangna. 700,000+ visitors are expected to attend the Expo this year, which runs through to this Sunday (February 2) and product sales tipped to top 2 billion baht. The event is organised by AIS eSports. Alistair Johnston, the…
- Technology News
Electric vehicle registrations in Thailand rose 380% in 2019
Electic cars (EVs) are on the rise in Thailand. The Electric Vehicle Association of Thailand (EVAT) reports a sharp increase in the number of electric vehicles registered in 2019. Department of Land Transport statistics show that, as of December 31, there were 2,854 electric vehicle registrations, including 1,572 new cars, up 380% from 2018 when only there were only 325 registered.…
- Economy News
Thai exports down 4.5% in October, 2.35% for the year
PHOTO: Commerce Ministry Thai exports have crashed 4.5% for October 2019, compared with the same month last year. The total contraction in first 10 months of this year has now averaged 2.35%, and things don’t look like improving any time soon, according to the Commerce Ministry, as reported in the Bangkok Post. The director-general of the ministry’s Trade Policy and…
- World News
“Build ASEAN brands” says AirAsia CEO
The CEO of AirAsia, Tony Fernandes, has told ASEAN governments to help create and strengthen “ASEAN brands” to drive the regional economy. Addressing the ASEAN Business and Investment Summit 2019, Mr. Fernandes says, although ASEAN is the world’s fourth largest economy, there are few ASEAN brands with impact beyond their national or regional boundaries. He blamed “both visible and invisible…
- Economy News
“Too good for its own good” – The Thai economy
Bloomberg has written an opinion piece about the robust Thai economy, sharing its fears along with some pats on the back. “Thailand really should let its hair down. The currency is strong and the current-account surplus is big versus the neighborhood, while there’s a lot of scope for fiscal expansion. The Bank of Thailand has been grudging in cutting interest rates, in contrast to the…
- Tourism News
The China Syndrome, south east Asia’s tourism dilemma
PHOTO: Lunar New Year celebrations in Bali – Jakarta Post “When China sneezes, the rest of south east asia catches a cold.” From quiet markets in Malaysia, empty rooms in Hanoi’s hotels and barren beaches in Bali, China’s economic slowdown and weakening yuan are sending shockwaves felt across south east Asia’s vacation belt. Thailand is just one of many countries…
- Economy News
Thai economic committee warns about stagnant growth in second half of 2019
The Joint Standing Committee on Commerce, Industry and Banking says they’re concerned by threats to the performance of the Thai economy in the second half of this year. The office says the lack of stimulating factors and the project of an ever-stronger baht will stifle economic expansion and the economy will fail to reach targets. The JSCCIB President Preedee Daochai…
- Tourism News
Thai tourist numbers recover mid-year after a shaky few months in Q2
After a few dips in April and May, tourists to Thailand flocked back, up 4.72% for July compared to a year earlier. Tourist arrivals in June were up a much more modest .89%. 3.33 million tourists visited the country during July and spent 167.3 billion baht (USD5.47 billion), up 3.11% from a year earlier. Visitors from China, where there’s been…
- Tourism News
Japan’s Okinawa takes on Bali and Phuket
by Bill Barnett While Okinawa is often called the Hawaii of Japan, a changing Asian travelscape driven by low-cost airline carriers is seeing the resort destination attract a rising number of regional tourists. Last year, arrivals hit 9.84 million which is now elevating the market to the likes Asia’s twin resort icons, Bali and Phuket. Summing up the current shift…
- Business News
Growth of Thai economy lowest in nearly five years
PHOTO: Supply Chain Asia The Thai economy registered growth of just 2.3% in the second quarter of 2019, compared with 2.8% in the first quarter. This is the lowest rate of growth in 19 quarters, according to Tossaporn Sirisamphan, secretary-general of Thailand’s economic think-tank, the National Economic and Social Development Board. Tossaporn warns that although the situation is not yet…
- Technology News
Nation Multimedia Group aims to counter tech ‘disruption’
PHOTO: NMG group chief, Shine Bunnag Thailand’s media giant Nation Multimedia Group say they are poised to ride the new “digital wave” to tide over the industry disruption brought about by technology, group chief Shine Bunnag said while outlining his vision. Shine, who is chairman of NMG’s executive committee, said in an interview with Krungthep Turakij newspaper that with the…
- World News
Vietjet reports strong revenue for Q1 2019
Vietjet has reported revenue is up by nearly 28% during the first quarter of 2019. In its Q1 (first quarter) financial report the Vietnamese budget airline says international route revenue surpassed domestic revenue reaching 55% of total revenue. In the first quarter Vietjet launched four new international and two domestic routes, a total of 111 routes in its network. Vietjet…
- Technology News
Thai property startup FazWaz heads overseas
FazWaz, the Phuket startup that has built a tech-first platform to take on Thailand’s real estate giants, is announcing its overseas expansion today. The move underscores just how far and fast the company has moved since being founded in 2015 in the small beach town of Kamala in Phuket. While real estate markets go up and down, FazWaz has definitely…
- Travel
Strong growth from key markets compensate for slight dip in Chinese tourists
by Thanchanok Phobut | Senior Coordinator, Thailand CBRE, international property consultants, believe that the Thai tourism market is still as resilient as ever. Earlier this year, the Ministry of Tourism and Sports announced they are expecting more than 40 million tourists to visit Thailand this year, up from the record-breaking 38.3 million last year. According to the latest figures, the…
- Business News
Forecasts for Thai export growth revised upwards
The meeting of the Joint Standing Committee on Commerce, Industry and Banking has revised upwards its forecast of export growth in 2019 to between 6.5 – 7.5% from the previous forecast of between 3.5 – 4.5%. The revision is in line with export growth in the past eight months, the committee said. Growth momentum is expected to continue during the…
- World News
China lowers growth targets to lowest in 28 years
“A more complicated environment as well as risks and challenges, foreseeable and otherwise, that are greater in number and size.” by Chong Koh Ping, The Straits Times – Asia News Network China will set lower growth targets, between 6-6.5% this year, as the world’s second largest economy loses steam due to the ongoing trade war with the US along with weaker…
- Business News
Thai economy’s growth in 2018 projected at 4.5% – World Bank
Things are looking up for more economic smiles in the Land of Smiles with more positive news coming out of the World Bank. Projections are being revised upward, again. The World Bank says it’s adjusted its projections for Thailand’s economic growth upward, for the whole of 2018, to 4.5%, from the previous projection of 4.1%. The announcement comes from Kiattiphong…
- World News
18 years of internet growth in Asia
Sourced from DataLEADS – Asia News Network The internet continues to grow swiftly in all parts of the world. Asia continues to show impressive growth trends in the last eighteen years although there are still many pockets in south east asia that need improved access to the www. To say that access to the internet has made a profound change to…
