Thai economy
- Economy News
Thailand’s power will be more expensive in May
From May until August, Thailand’s electricity price will rise to four baht per kilowatt hour, going up by 0.23-1.3 baht per unit. The country’s Energy Regulatory Commission is raising fuel tariffs following Russia’s invasion of the Ukraine. An ERC spokesman said another reason for the price surge is the declining supply of natural gas from the Gulf of Thailand. Russia’s…
- World News
1,000 Thais register to apply for jobs in Saudi Arabia
Thai and Saudi officials say labour relations between their countries are strengthening following renewed relations. Thailand’s labour minister said over 1,000 people have registered online with the Department of Employment to apply for jobs in Saudi Arabia. He claimed the final remaining step is signing a bilateral labour agreement, which is expected to occur soon. The agreement will allow Thailand…
- Economy News
Thailand’s price cap on diesel will last through May
In the midst of skyrocketing fuel prices around the world, Thailand’s diesel price cap at 30 baht per litre will last until the end of May. After that, a loan of 40 billion baht that supports the subsidy allowing the cap is expected to run out. Thailand’s deputy prime minister, who is also the energy minister, said the country must…
- Economy News
Federation of Thai Industries wants gov to scrap Test & Go, stop fuel price crisis
The Federation of Thai Industries has called on Thailand’s government to scrap the Test & Go scheme, and stop the ongoing fuel price crisis. On Thursday, the president of the federation suggested easing Test & Go to support tourism and a recovery for the Thai economy. The FTI suggested that Thailand only require fully vaccinated travellers to show proof of…
- Thailand video news
Thailand News Today | Thai scientists develop anti-Covid nasal spray
A new “anti-Covid-19” nasal spray that is being developed by Thai scientists is expected to be available to the public later this year. In studies using lab animals, the nasal spray has been shown to block the virus from entering the body. The Health Systems Research Institute, Silpakorn University, Chulalongkorn University, the Government Pharmaceutical Organisation and an unnamed private bioscience…
- World News
Government to discuss measures to mitigate economic fallout from Russian invasion of Ukraine
The Thai Cabinet meets later today to discuss a number of measures aimed at mitigating the fallout from Russia’s invasion of Ukraine, according to a Bangkok Post report. Government spokesman Thanakorn Wangboonkongchana says PM Prayut Chan-o-cha will meet with officials to discuss the impact on the economy, in particular on global energy prices and instabilities in the equity and cryptocurrency…
- World News
Thailand’s vehicle exports affected by world chip shortage, Russia-Ukraine conflict
The Automotive Industry Club have reported a decline in Thailand car production for January, citing the Russia-Ukraine conflict and a global shortage of semiconductors (microchips). Last month’s car production reached around 151,700 vehicles nationwide, a 2.45% increase year-on-year, but a 1.7% decline since last December, according to AIC spokesperson Surapong Pisitpattanapong. About 74,700 of the vehicles were produced for the…
- Phuket News
TAT says Phuket sandbox has generated over 43 billion baht in revenue
The Phuket sandbox scheme has so far generated over 43 billion baht in revenue, with visitor numbers steadily increasing. So says the Phuket office of the TAT, in a Bangkok Post report today. According to TAT Phuket director, Nanthasiri Ronnasiri, the sandbox scheme initially welcomed around 300 foreign tourists a day when it first launched last July. Since then, that…
- Economy News
Fear of back taxes preventing some businesses from participating in government co-payment scheme
Signs are popping up outside restaurants and shops across Thailand, advising customers that they don’t accept payment via the government’s 50/50 stimulus scheme. Thai PBS World reports that a number of businesses are refusing to participate in the Khon La Khrueng (Let’s Go Halves) subsidy scheme, fearful that the government will come along and claim back taxes further down the…
- China News
First Thai rice export on Laos-China railway, step toward strengthening bilateral trade
The Lao-Chinese railway to Chongqing delivered its first Thai rice shipment of 1,000 tonnes, boosting hopes to strengthen bilateral trade and benefit the economy. More rice exports, and other farm exports, will follow, says the advisor to Thailand’s Agricultural Minister. The advisor added that the Thai government is looking into exporting fruit, orchids, rubber, cassava, palm oil as well as…
- Thailand News
Pork price crisis ups demand for poultry, chicken added to price control list
Thailand’s pork price crisis is causing an increased demand for chicken, leading poultry and egg prices to surge. The Ministry of Commerce has now added chickens and chicken meat to their price control list. The ministry now mandates that chicken raisers with over 100,000 chickens, and slaughterhouses with the capacity for over 4,000 chickens a day, disclose their quantity, stocks,…
- Visa Information
Thailand approves plan to attract highly-skilled foreign workers, investors, wealthy retirees
Measures aimed at attracting wealthy long-stay foreigners to Thailand have been approved in principle by Cabinet. The government is targeting foreign investors, highly-skilled professionals and wealthy retirees in a bid to develop the Covid-battered economy. Long-term residence visas of up to 10 years are on offer, along with work permits for those who qualify, according to Thai PBS World. Government…
- Economy News
PM says government will make tackling household debt a priority in 2022
The Thai PM has used his New Year address on Facebook to reassure citizens that 2022 will be the year the government tackles household debt. PM Prayut Chan-o-cha says the government will focus on accelerating economic recovery and dealing with household debt in 2022. According to a Bangkok Post report, he acknowledges the economic hardships caused by the pandemic and…
- Thailand News
Nightlife workers protest at Government House, call for financial assistance
Thailand’s nightlife workers have rallied in Bangkok, protesting outside Government House as they demand government assistance. The workers, known as the “high heel mob” are calling on PM Prayut Chan-o-cha to offer state aid to industry workers adversely affected by Covid-19 closure orders. According to a Bangkok Post report, the workers were led by the Empower Foundation. Employees say their…
- Tourism News
Thai aviation sector calls for visa waiver for international travellers
Thailand’s aviation sector is calling on the government to introduce a visa waiver scheme for international arrivals to boost demand. The Airlines Association of Thailand says global competition for tourists is getting tough and the government needs to do more to attract international visitors. “We are in a fierce competition as every country needs tourists to cushion the economic impact.…
- Economy News
Thai government happy with results of economic stimulus measures
A spokesman says officials are pleased with the results of 4 economic stimulus measures introduced by the government. Thanakorn Wangboonkongchana says over 41.3 million citizens have spent over 223.82 billion baht, thanks to the 4 schemes, describing the results as satisfactory. The stimulus campaigns were introduced during the Covid-19 pandemic in an attempt to boost the economy and help those…
- Economy News
Government agency ups 2021 foreign arrivals prediction to 200,000
An agency under the Ministry of Finance has increased its 2021 tourist arrivals forecast to 200,000. The Fiscal Policy Office had previously stated that it expected 180,000 foreign arrivals by the end of the year. According to a Bangkok Post report, Pornchai Thiraveja from the FPO says this now looks likely to increase. During the first 2 weeks of November,…
- Business News
More cuts at Thai Airways as flagship carrier continues rehab process
The chairman of the Thai Airways rehabilitation plan says the airline is making good progress with cost-cutting exercises. Piyasvasti Amranand says Thailand’s national carrier has managed to recover 44.8 billion baht by cutting its workforce and ending aircraft lease agreements. “Thai Airways’ operational performance has progressed satisfactorily in many aspects, including cost reduction and organisational restructuring.” According to a TTR…
- Tourism News
Thailand Pass: all systems go for Monday
The new Thailand Pass system launches on Monday when the country re-opens with minimal quarantine for vaccinated tourists from select countries. The Bangkok Post reports a government spokesman as saying the new system will replace the Certificate of Entry with a more streamlined process. Thanakorn Wangboonkongchana says the online system will allow tourists, Thais, and foreign residents of Thailand to…
- Politics News
PM tells reporters to focus on economy, doesn’t want to talk about election
The Thai PM says he can cope with everything he has to deal with and is not bothered by rumours of political disagreements. However, according to a Bangkok Post report, he then asked journalists to stop asking about the election and focus their questions on the economy instead. Prayut Chan-o-cha was addressing the media after yesterday’s meeting of the Defence…
- Economy News
Thai economist urges government to address inequality, improve education
A leading Thai economist says there are several issues the country needs to address in order to protect the economy in the long term. Dr Somjai Phagaphasvivat is calling on the government to develop human resources, improved the standard of Thai education, and address the serious issue of inequality. According to a Thai PBS World report, he says the Covid-19…
- Tourism News
Opinion divided on proposed 500 baht tourism tax
A plan to impose a 500 baht “tourism tax” on foreign arrivals from next year has divided opinion among tourism operators. A report by Nikkei Asia says some operators are concerned such a move could deter tourists, just as the country prepares to re-open. One of those is the president of the Thai Hotels Association, Marisa Sukosol Nunbhakdi. “The fee…
- Economy News
Thai baht to continue dropping against the USD
The Thai baht is forecast to droop to a 4-year low over the next trading week, and its largest monthly currency drop for over 20 years. The Baht’s challenges shadow US dollar gains over concerns about the US Fed’s (US Federal Reserve) ‘tapering’ plans as it reins in enthusiastic stimulus of the US economy. Thailand’s baht has been the region’s…
- Economy News
Industry body says Thai government must borrow another 1 trillion baht
The chairman of The Federation of Thai Industries is calling on the government to borrow another 1 trillion baht to kick-start the economy in 2022. Supant Mongkolsuthree says the extra funds are desperately needed to boost an economy devastated by the fallout from the pandemic. According to a Bangkok Post report, he says the government’s borrowing of 500 billion baht…
- Economy News
Thai PM calls on state agencies to disburse allocated funds quickly to revive economy
The Thai PM is calling on state agencies to inject funds into the economy for the new fiscal year in October, in order to help its recovery. According to a Bangkok Post report, deputy government spokesperson Traisuree Taisaranakul says budget spending is vital to the revival of an economy decimated by Covid-19. “In light of the pandemic, the state budget…
- Business News
Thailand’s spa operators optimistic business will pick up in last quarter
The president of the Thai Spa Association says he’s hopeful things will improve in the last quarter of the year, if the country re-opens and domestic tourism picks up. Krod Rojanastien says the industry has suffered badly under Covid-19 restrictions, with most of the 8,000 registered facilities closed and 70% – 80% of staff out of work. And, while restrictions…
- Covid-19 News
Survey shows nearly half of Thai businesses expect return to normality in early 2022
A survey carried out by the Bank of Thailand shows that nearly half of Thai businesses expect life to return to normal during the first quarter of 2022. According to a Bangkok Post report, businesses of all sizes were interviewed between July 1 – 22 as part of the business sentiment index. The findings show that 45% expect people to…
- Tourism News
Thai tourism likely to hit rock bottom this year
The Tourism Authority of Thailand says both international and domestic tourism are likely to drop to an all-time low this year. The Bangkok Post reports that the TAT predicts international arrivals may only number 1 million, with domestic tourism dropping to just 50 – 60 million trips. Yuthasak Supasorn from the TAT says the target of 3 million foreign arrivals…
- Economy News
Property market in tourism areas relying on vaccines for recovery
Tourism destinations in Thailand are pinning their hopes on Covid-19 vaccines to revive their decimated economies, including in the real estate sector. Vichai Viratkapan from the Real Estate Information Centre says the property sector’s recovery will be driven by the rollout of vaccines, particularly in tourist destinations that have borne the brunt of the economic devastation. “Tourism destinations like Phuket,…
- Tourism News
PM to chair meeting on Thailand’s re-opening as Phuket officials demand clarity
The Centre for Economic Situation Administration will today discuss plans for the revival of Thailand’s tourism sector at a virtual meeting chaired by PM Prayut Chan-o-cha. Attendees will discuss a future quarantine-free re-opening of 10 provinces considered popular tourist destinations: Chiang Mai, Bangkok, Prachuap Khiri Khan, Phetchaburi, Chon Buri, Phuket, Surat Thani, Krabi, Phang Nga, and Buriram. While Phuket is…
