Economy

Thai baht surges against weakening US dollar

Thai baht surges against weakening US dollar

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The Thai baht is soaring to its highest level against the US dollar in more than half a decade. Analysts are expecting the Thai currency to continue marching past the 31 baht to the US dollar mark. Currency experts believe the baht’s strength could be partly due to the weakness […]

More than ten thousand million baht generated during Chinese New Year in Phuket

More than ten thousand million baht generated during Chinese New Year in Phuket

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The TAT Phuket has done its sums for this year’s Chinese New Year activities in Phuket from February 5 to February 12. They estimate 500,000 tourists will visit for the annual Chinese holiday which will generated 11,441 million baht for the island. Kanokkittikar Kritwutthikorn, director of the Phuket office of the TAT says, “The check-in […]

As Chinese visitors bounce back, Thai tourism income crosses B2trn

As Chinese visitors bounce back, Thai tourism income crosses B2trn

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BANGKOK: A sharp resurgence in Chinese visitor arrivals in December helped Thailand close 2018 with a total of 38.27 million arrivals, generating tourism expenditure of just over B2 trillion, the Tourism Authority of Thailand (TAT) has announced. The final arrivals count released by the Ministry of Tourism and Sports showed […]

B14bn of hotel assets sold in Thailand in 2018

B14bn of hotel assets sold in Thailand in 2018

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BANGKOK: Hotel investment transaction volume in Thailand reached B14 billion in 2018. Whilst the volume is higher than expected and well above the five-year average of B13.2bn per annum recorded between 2013 and 2017, it failed to break the record of B17.1bn witnessed in 2017, according to property consultancy JLL. […]

BOI approves new rail services, new port investment

BOI approves new rail services, new port investment

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The Board of Investment of Thailand (BOI) has laid out strategies to boost the development of rail services and the country’s cruise tourism. Duangjai Asawachintachit, BOI secretary general, says the latest BOI meeting chaired by the Prime Minister had resolved to instigate measures to attract investment in rail development and […]

KBank expects 10 times digital lending

KBank expects 10 times digital lending

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BANGKOK: Kasikornbank (KBank) has set an ambitious goal of 10 times growth in digital lending this year, targeting low-income earners who are not bank customers. The bank expects its digital lending outstanding to expand aggressively to B10 billion in 2019 from B1bn last year, said president Kattiya Indaravijaya. KBank plans […]

Phuket dodges major economic impact from Pabuk

Phuket dodges major economic impact from Pabuk

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PHUKET: Leading figures for Phuket’s tourism industry say that the island has dodged any major economic impact from the fallout of tropical storm Pabuk passing through the region. As many as 28 flights arriving or departing Phuket International Airport were cancelled over Jan 3-4 heading into last weekend. However, both […]

Holiday spending to rise as oil prices drop

Holiday spending to rise as oil prices drop

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BANGKOK: Festive spending is expected to increase this year from 2017, with a decline in oil prices helping raise the purchasing power of Thais during the New Year season, according to a university survey. Thanavath Phonvichai, vice-president for research at the University of the Thai Chamber of Commerce (UTCC), said […]

Another Thai interest rate hike predicted for next year

Another Thai interest rate hike predicted for next year

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We’ve just had one .25 basis point interest rise to the base rate. Now there’s already talk of another in 2019 which will start to affect consumer spending, especially mortgage holders. Siam Commercial Bank (SCB) and Phatra Securities are predicting that the Bank of Thailand (BOT) is likely to implement […]

Bank of Thailand ups policy rate to 1.75 percent, first rise in 7 years

Bank of Thailand ups policy rate to 1.75 percent, first rise in 7 years

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The Bank of Thailand has increased its policy rate by 25 points, up from 1.50 percent to 1.75 percent. It’s the first rise in seven years. The Monetary Policy Committee voted 5:2 to raise the one-day repurchase rate to 1.75 percent with immediate effect after the rate was kept unchanged for […]