Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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The ‘office’ is SO last century. Say hello to the world of remote working.
Do you work from home? Or can you work anywhere have a laptop and wi-fi? Are you a trader or selling stuff online? You’re part of a growing trend in modern work practices as the fancy city office becomes an expensive relic of the ‘old normal’. 2020 became the year of people working from home. In same case, it was…
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Chatuchak market is in worst crisis in 5 decades due to Covid-19, vendors say
Chatuchak Weekend Market, Bangkok’s biggest market and a popular tourist destination, is hit hard by the new wave of Covid-19. With the lack of foreign tourists due to travel restrictions over the past year, as well as more locals staying at home despite the market’s strict disease control measures, the number of visitors at the market has dropped by 90%.…
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Eating out until 11pm in Bangkok is waiting for approval
Bangkok restaurants may soon be allowed to stay open a little later. Health officials are considering easing up Covid-19 prevention measures by extending restaurant dine-in closing times to 11pm. If the proposal by the Thai Restaurant Association is given a green light, it may lead to the lifting ban of alcohol drinking. After the order of shutting entertainment venues and…
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34.7% of Thai tourist businesses closed down
“When the tourists start coming back it will be a very different holiday experience for them. Will it ever get back to the numbers before Covid? Never.” A Tourism Authority of Thailand survey, conducted between January 10 – 12, indicates that more than a third of the country’s tourism-related businesses has already shut up shop and gone out of business.…
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Future of Thai department stores is being redefined
While department stores have been a familiar destination for Thai people for many decades, CBRE, an international property consultant, is witnessing a decline in popularity and stunted growth, particularly in 2020 when Covid-19 adversely impacted the sector. CBRE believes that to adapt to e-commerce disruption and the changing consumer behaviour, department stores in 2021 (and beyond) will have to fine-tune…
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US jobs market stumbles back into decline
The labour market for the world’s largest economy is heading back into reverse mode after slowly chugging back into gear over the past 8 months, following the March stock crash and initial impacts of the US state lockdown measures.. The December report was the first drop since April figures, providing the strongest evidence of the impact of the huge number…
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Covid-19 could cost an estimated 9 billion baht loss to the economy – Thai alcohol association
An alcohol business association is saying the latest round of restrictions and closures on pubs and bars could cost the industry and businesses 9 billion baht. The Thai Alcohol Beverage Business Association is railing against the Thai government’s policies as they restrict the operations and operating hours of tens of thousands of bars, pubs and clubs around the country. They…
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Thai Air Asia says new Covid outbreak has destroyed business
The executive chairman of Asia Aviation, the largest shareholder in Thai Air Asia, says the Covid-19 resurgence has “destroyed the low-cost carrier”. Tassapon Bijleveld says that, even without a national lockdown, bookings have plummeted. “Travel sentiment has plunged lower than last year. This is different this time because people are voluntarily skipping their travel plans even without a nationwide lockdown…
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Latest details of Covid restrictions and locations in Thailand | VIDEO
UPDATE: From tomorrow (Tuesday), restaurants will be required to close to in-dining customers, from 7pm to 6am. Restrictions are now in place, as of midnight last night, as the latest mitigations against Thailand’s Covid-19 outbreak. The outbreak, which kicked off on December 20 last year, has now reached most of Thailand’s provinces, some more affected than others, and that…
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Thai Restaurant Association asks PM not to restrict in-dining services
As the 4 day New Year long weekend comes to a close, there are a number of proposed restrictions looming as the CCSA battles to contain the latest outbreaks of cases, particularly in and around Bangkok and the nearby easter provinces. There is currently a proposal to restrict Bangkok’s restaurants to take away services only, as well as full travel…
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What’s closed in Bangkok? Decision on restaurants today.
Here’s the full list of closures from the BMA that went into effect at midnight last night in the city of Bangkok. The Bangkok Metropolitan Organisation has closed “high risk’ venues around Bangkok.(Pattaya/Banglamung list of restrictions and closures below) Entertainment venues, water parks, amusement parks, playgrounds, floating markets, flea markets, snooker and billiards clubs, arcade game premises, games shops, Internet…
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The case for temporarily closing hotel and restaurant operations
OPINION by Bill Barnett As the final days of disruptive 2020 come screeching to an erratic end, hotel, and restaurant owners are peering into an unpredictable year ahead. Here in Thailand over the past week, the tourism industry has been shaken to its core over an uptick in Covid-19 cases and backroom speculation over fears of another round of lockdowns. (Restrictions,…
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Something fishy about the Samut Sakhon Covid outbreak – who’s responsible?
Here are 2 resources for the above story… https://thethaiger.com/news/national/… http://www.rapid-asia.com/blog/forced… Until the weekend many people would have never heard of Samut Sakhon, a province just south west of Greater Bangkok and sharing a provincial border with the capital. The province is best known as a major hub for Thailand’s shrimp and fishing industry, packed with markets around the coastal tributaries…
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Bangkok’s commercial property market struggles through 2020
This year Thailand’s developers had to work around the effects of government lockdowns and restrictions because of the Covid-19 pandemic. Indeed significant changes have occurred to the commercial property market in Thailand. CBRE Research reports that the Bangkok office market suffered a significant change in the net up-take, whilst the retail market consumer confidence index fell and the hotel market…
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Monopoly comes to Phuket, but don’t Go To Jail!
You may not be able to physically visit the world famous holiday island right now, but you can buy and trade property along it’s best known streets – all whilst sitting at home and playing Phuket Monopoly with your family. You can also get “free parking”, usually at a premium in Phuket’s most popular towns. But make sure you don’t…
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How to buy gold in Thailand – from bracelets to baht
Jett Gunther visits Bangkok’s Chinatown and discusses why you should buy gold in Thailand, and how. Bangkok is home to one of the largest Chinatowns in the world, and the Chinese love gold! Not only is gold highly regarded as a sacred metal, gold has held its value for thousands of years! In the past 20 years alone, the price…
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What has the pandemic taught hotels about luxury. Is ‘less’ more?
by Anthony Lark “Let’s say goodbye to all that stale pretence and manufactured pomp” Until the collective nightmare that was 2020, many of the so-called high-end hotels had a reputation for trying to convince guests to pay for often dingy guestrooms lacking any real views inside an otherwise ornate structure with a storied, celebrated past, where the first impression was…
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Thai Airways to resume flights from Bangkok to Chiang Mai and Phuket
After nearly 9 months on the ground due to the coronavirus pandemic, along with problems balancing their accounts, Thai Airways will resume flights between Bangkok and Chiang Mai as well as Bangkok and Phuket later this month. The flights will start back up on Christmas day. Flights from Bangkok to the 2 key tourist provinces have been grounded since April…
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Bangkok is the best leisure city in the Asia Pacific – Business Traveller Asia-Pacific
Despite few travellers actually being able to visit Thailand’s capital, including ‘business travellers, readers of Business Traveller Asia-Pacific have again named Bangkok the ‘Best Leisure City in the Asia-Pacific’. The Big Mango retains the top ranking on the list for the 5th consecutive year. Bangkok also got third place in the ranking of the Best Business city in the Asia.…
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Suvarnabhumi expansion being reviewed in line with “new normal” expectations
The 44 billion baht northern expansion of Bangkok’s Suvarnabhumi airport is being revised, to meet “new normal” requirements, according to Airports of Thailand. AOT president, Nitinai Sirismatthakarn, says the process will take 1 or 2 months to complete. Nation Thailand reports that the airport’s new northern terminal will have the capacity to handle 30 million passengers a year, with Nitinai…
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Bank of Thailand takes action to curb Thai baht’s strength
The Bank of Thailand has moved forward measures, originally meant to begin early 2021, but most of which will now take effect from end of this month. The end result is that the new rules will make it easier for Thais to shuffle money overseas and invest in foreign assets. It will also make is easier for Thai citizens to…
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Hotel investment group launches world’s first “green” hotel fund
Destination Capital, a hotel investment group in Bangkok, has announced that it will launch the world’s first ever “green” hotel fund. The fund will acquire hotels and implement sustainability systems and procedures to promote long term environmental and financial sustainability in investments using the EDGE certification programme. EDGE, an online platform, is an innovation of the International Finance Corporation, which…
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Krabi’s Ao Nang businesses shut up or sell up
Ao Nang, Krabi’s tourist strip, is struggling under the strain of no customers or tourists. Thai Residents reports that there are now at least 10 hotels up for sale valued at billions of baht. Businesses and hotels along the popular Ao Nang tourist strip have been shutting down because of the prolonged closure of Thailand’s borders to general tourism. Even…
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US grocers cut ties with Thai coconut milk company after PETA reveals monkey labour
Grocery stores throughout the United States are cutting ties with the Thai coconut milk company Chaokoh and other Thailand coconut product suppliers following an investigation by People for the Ethical Treatment of Animals (PETA) into the monkey labour at Thailand coconut farms. PETA Asia claims the Thai macaques are “snatched from the wild” and treated like “coconut picking machines.” Recently,…
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Phuket & Koh Samui face financial ruin in the short to medium term – VIDEO
Phuket and Samui are both islands, fed mostly by arrivals at their international airports. Of course, both remain closed and the islands are trying to survive on a dribble of domestic tourists. And there’s no sign of hope any time soon for the future. Bill Barnett is ‘Mr Hotel & Hospitality’ for Thailand and the region. What does he see…
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Second Thai airline hit by Covid fallout as Nok Air to prepare rehab plan
The Central Bankruptcy Court has approved Nok Air’s petition to begin a rehabilitation process, as the low-cost airline struggles with losses incurred due to the Covid-19 economic fallout. The Bangkok Post reports that Nok Air has debts of up to 26 billion baht, with 23 billion baht in assets. In the first half of 2020, it reported revenue of 3.4…
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Thai cabinet approves extension of jet fuel levy holiday
Whilst the current cheapest domestic air fares have been around the same prices they were before local airlines were grounded, there is a possibility of some more drops in your seat prices. Thailand’s budget carriers could be offering lower seat prices after the cabinet yesterday approved an extension of the jet fuel tax holiday. Thailand’s low-cost carriers have been slowly…
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Hotels reluctant to apply for ASQ status due to government’s cap on tourist arrivals
With the number of foreign arrivals who can enter Thailand on the special tourist visa limited to just 1,200 a month, hotel owners say they’re reluctant to apply for alternative state quarantine status. Hoteliers say a lack of tourists in sufficient numbers, coupled with the number of quarantine facilities already in existence, means the investment required to gain ASQ approval…
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Government to consider rescue packages for tourism businesses in South
The government will hold a mobile Cabinet meeting in Phuket today to consider potential rescue packages for tourism-related businesses that have been ravaged by the closure of international borders. The proposals, which include soft loans for airlines and other businesses, come after PM Prayut Chan-o-cha met with Phuket business representatives and local officials yesterday. The Bangkok Post reports that the…
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Free Trade Agreement talks continue between Thailand and EU
Thailand is resuming trade talks with the European Union on the long-delayed Thai-EU free trade agreement. The 15th Thai-EU Senior Officials’ conference was held virtually between leading Thai and European trade officials this week. The push was on to have the Free Trade Agreement signed and sealed by the end of this year. Discussions were held regarding the ongoing affects…
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