revenue
- Business News
Thailand’s tourism revenue falls short of annual target
The Tourism Authority of Thailand (TAT) projected a shortfall in its annual tourism revenue target, with this year’s earnings expected to reach 2.07 trillion baht (US$58,773,427,200) instead of the projected 2.38 trillion baht. TAT Governor, Thapanee Kiatphaibool, attributes this shortfall to the sluggish performance of international tourism receipts, which were significantly lower than the state’s target of 1.6 trillion baht.…
- Thailand News
Central Thailand: Thai Revenue Department clarifies controversial Huai Khwang restaurant raid
The Revenue Department has clarified the controversial issue involving six men, alleged to be its officials, who raided a restaurant in Huai Khwang district and seized a liquor license. The department has assured there was no ill intention behind the action and it was conducted in good faith today. Pakapoom Tantanaserikul, Secretary of the Department, acting as Deputy Spokesperson, yesterday revealed…
- Business News
ACE’s 18 solar projects to boost revenue with 665m baht annually
Absolute Clean Energy (ACE), a prominent biomass power developer and operator based in Bangkok, is set to see a significant increase in revenue following the selection of its 18 solar power generation ventures to feed the national grid. The projects are being executed under the umbrella of ACE’s 14 entirely owned subsidiary companies. ACE, in a recent announcement by its…
- Business News
Gulf Energy eyes 50% revenue surge with power plant operations boost
Gulf Energy Development, a Stock Exchange of Thailand (SET)-listed firm, is looking forward to a 50% revenue surge, breaking past the 100 billion baht (US$3.03 billion) mark this year. This significant increase is due to the addition of electricity generation capacity and the full operation of its power plants. In the previous year, the company’s earnings stood at 95 billion…
- Business News
MICE revenue in Thailand lowered amid sluggish Chinese market response
The meetings, incentives, conventions, and exhibitions (MICE) revenue forecast for the Thailand Convention and Exhibition Bureau (TCEB) has been lowered to 96 billion baht. This is less than half the recorded figures for 2019, mainly due to a sluggish response from the Chinese market. TCEB’s president, Chiruit Isarangkun Na Ayuthaya disclosed that despite the strong comeback of MICE travellers from…
- Business News
Thailand’s smartphone market holds promise despite economic strain
In these difficult financial times, Thailand’s smartphone market still carries incredible potential for device makers, particularly in high-end models, despite reduced support of handset subsidies by mobile operators, according to Oppo, a leading Chinese smartphone maker. With a market value exceeding 100 billion baht, Thailand’s smartphone market is regarded as a gem within Southeast Asia. The Senior Executive Vice-President at…
- Business News
Vimut Hospital expands services targeting elderly as Q1 revenue surges 69%
Vimut Hospital witnessed a remarkable 69% year-on-year increase in revenue, reaching 412 million baht in this year’s first quarter. The revenue growth was driven by 186 million baht from hospital operations and an additional 226 million baht from their share in Theptarin Hospital. According to Somsak Akksilp, Vimut Hospital’s chief executive, revenue from non-Covid-19 treatments saw an increase of over 90%.…
- Thailand News
Thai Airways anticipates 130 billion baht revenue this year
Thailand’s flagship carrier, Thai Airways (THAI) is optimistic about its revenue this year. Thai Airways is anticipated to accumulate at least 130 billion baht in revenue this year after its net profit in the first quarter reached 12.5 billion baht. THAI CEO Chai Eamsiri announced yesterday that the airline is projected to complete its financial rehabilitation in 2025 as planned,…
- Covid-19 News
Pfizer sees 45% increase in net income and revenue, as critics point to disparity in global vaccine availability
After seeing a 45% increase in net income from last year, Pfizer, the pharmaceutical giant, is largely increasing its projected profits for this year. And, the increase is undoubtedly due to the high amount of Covid-19 vaccine sales, in which the company says is shaping up to provide a “durable” revenue stream. The company says this year’s first quarter profits…
- Thai Law News
Australia sets worldwide precedent by passing pay‐to‐play legislation for social media giants
In a landmark decision, Australia is now requiring global digital giants, such as Facebook and Google, to pay for using local news content on their websites. The move sets a precedent that many global companies have been anticipating. The law passed yesterday after Facebook and Google reached an agreement to pay local Australian news organisations for using their stories on…
- Thailand News
Long Buddhist holiday to see over 40 percent reduction in domestic tourism
The long Buddhist festival holiday, which starts today, is set to see over a 40% reduction in domestic tourism. The Tourism and Transport Authority of Thailand has made the estimation which tallies around 1.09 million domestic trips, a number that is down 44% from last year’s Makha Bucha Day. The 2nd wave of the Covid pandemic this year has made…
- Events
Australians wake up to Facebook news blackout
Facebook is under fire as Australians accuse the social media giant of censoring news along with emergency services in an apparent blackout. This morning, residents logged in, saying they weren’t able to post links to news articles or view the Facebook pages of any news outlets worldwide. The move that has essentially blocked Australia from being in the loop, comes…
- 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
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…
- World News
Facebook responds to proposed media laws in Australia with a threat to ban sharing of news posts
The media wars are heating up in Australia as a battle between Facebook and other tech platforms line up against traditional media providers and the Australian Government. Facebook is now threatening to block both the users and media organisations in Australia sharing news stories, if the Australian government’s plan to demand Facebook, Instagram, Google, etc to pay for content goes ahead.…
- Tourism News
Tourism authority predicts September revenue jump
The Tourism Authority of Thailand is expecting tourism revenue in September to grow by 20% compared to the same month last year, after the government approved September 4 and 7 as compensation holidays for this year’s Songkran Festival, which was “postponed” due to the Covid-19 crisis. We’re assuming they mean domestic tourism because there sure aren’t many foreign tourists! The…
- Covid-19 News
Tourist numbers and revenue expected to plunge, exceeding worst predictions for 2020
It’s no secret that the Covid-19 outbreak has been disastrous for Thailand’s tourism sector, long considered a vital lifeline of the nation’s already battered economy. Now the Tourism Authority of Thailand is projecting that Thailand is likely to close the year with only 16 million international tourists and 60 million domestic trips, far below the pre-virus targets of 40 million…
- Covid-19 News
30,000 Thai hotels to lose all revenue during April
According to the Thai Hotels Association, out of the 32,564 hotels registered in Thailand, 95% will lose all revenue during April as the temporary lockdown escalates around the country. Adviser to the THA, Surapong Techaruvichit says that the number of hotel closures is growing every day as more provinces have imposed stricter lockdown policies. “Phuket is the latest major tourism destination…
- Business News
Thai Airways under pressure to deliver workable business plan
Thai Airways is coming under more pressure, after being given 30 days to deliver its new rehabilitation and business plans. Thaworn Senniam, the Deputy Transport Minister, gave the instruction yesterday while meeting with the executive of the national carrier for an update on its financial status. He says the business plan must provide clear information on how the fortunes of…
- Tourism News
Which flight route makes the most money in the world?
The world of aviation now has its first billion dollar route. That’s a flight route that makes more money for an airline than any other. And for the first time that route has breached the one billion dollar ceiling – British Airways’ service between London Heathrow and New York’s JFK. OAG has come up with a list of the routes…
- Bangkok News
Thai Rath downsizes newspaper workforce citing crippling decline in revenues
Thai Rath, the country’s biggest newspaper, is buckling under the weight of digital change and downsizing its staff. In yet another sign of the woes in the Thai media industry, the mass-circulation Thai Rath newspaper is downsizing through a voluntary early retirement scheme. Thai Rath, which at its peak claimed a daily circulation of one million, said in a statement…
