Economy

TAT forecasts 40mn tourists next year

TAT forecasts 40mn tourists next year

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BANGKOK: Thailand’s tourism industry is expected to expand through next year, with at least 10% growth in revenue from this year, fetching B3.4 trillion. Tourism Authority of Thailand (TAT) Governor Yuthasak Supasorn said strong growth is anticipated from both the international and domestic markets. Next year, the international market should […]

Chinese demand for Thai durian skyrockets

Chinese demand for Thai durian skyrockets

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BANGKOK: Durian continues to prove popular among Chinese consumers with Thai durian exports to China skyrocketing by 135% in April 2018. Pimchanok Vonkorpon, Director of the Trade Policy and Strategy Office of the Ministry of Commerce, has announced that Thailand in April sold 120,000 tons of durian to overseas consumers, […]

Phuket women entrepreneurs granted B800k in empowerment startup funds

Phuket women entrepreneurs granted B800k in empowerment startup funds

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PHUKET: The Phuket office of the Community Development Department under the Ministry of Interior has dispensed B800,000 in funds to support women entrepreneurs on the island in getting their own start-up businesses off the ground. The funds, made available through the Thai Women Empowerment Fund, were dedicated to three start-ups […]

10 good news stats from today’s economic forecast

10 good news stats from today’s economic forecast

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The first four months of 2018 have seen the Thai economy surge ahead, Some key numbers were released today about the good news in the country’s financial report card. The value of exports rose 12.3% in April, year-on-year. This month’s rise in exports is the 14th consecutive month of growth. […]

Cryptocurrency-tax ‘will hit economy’

Cryptocurrency-tax ‘will hit economy’

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New tax measures aimed at curbing the Thai initial crypto-coin offering (ICO) market will adversely affect the economy as the measures could drive investors and entrepreneurs overseas, according to experts. The Royal Gazette this week announced a new set of laws related to digital asset businesses, an amendment of the […]

Alibaba to invest 11 billion baht in Thailand

Alibaba to invest 11 billion baht in Thailand

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Chinese e-commerce giant Alibaba Group has committed to invest a combined 11 billion baht in Thailand in a move that PM Prayut Chan-o-cha says could benefit the country’s small farmers and rural enterprises due to the firm’s expertise in diverse technology. “Jack Ma (Alibaba’s co-founder and executive chairman) told me […]

Songkran spending projected to hit B132bn

Songkran spending projected to hit B132bn

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BANGKOK: Robust economic growth and a fervor for Thai tradition have led to estimates that over B132 billion will circulate this Songkran holiday, the highest figure in 13 years. Director of the Center for Economic and Business Forecasting at the University of the Thai Chamber of Commerce, Thanawat Polwichai, reported […]

Warning issued over household debt

Warning issued over household debt

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BANGKOK: Siam Commercial Bank (SCB) research house the Economic Intelligence Center (EIC) has raised a warning flag about a potential re-acceleration in household debt after the household debt-to-GDP ratio at the end of 2017 edged up for the first time in two years. The centre needs to monitor household debt […]

Phuket among most expensive in base wage rate increase

Phuket among most expensive in base wage rate increase

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PHUKET: New minimum wage rates came into effect last Sunday (April 1), with Phuket among the three most expensive provinces in the country to hire base-wage workers. Under the new wage rates, the minimum wage in Phuket shifted from B308 to B330 per day. The Federation of Thai SMEs Association […]

Confidence riding high – Thai economy continues to surpass forecasts

Confidence riding high – Thai economy continues to surpass forecasts

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Confidence is riding high according to the Joint Standing Committee on Commerce, Industry and Banking. They report that the private sector remains confident about Thailand’s economic growth of 4.5% being maintained as exports and tourism continue to rise. But the Committee warns that the private sector is being spooked by […]