Economy

Arrivals up 20% in wake of VOA exemption, officials claim

Arrivals up 20% in wake of VOA exemption, officials claim

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BANGKOK: Tourist arrivals to Thailand are reportedly up 20% in the latter half of November in response to the government’s visa-on-arrival (VOA) fee waivers, with India the star market. Visitors from other major markets like China are also bouncing back, according to Tourism and Sports Minister Weerasak Kowsurat. Arrivals from […]

Chinese tourists still number one visitors to Phuket

Chinese tourists still number one visitors to Phuket

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The Deputy Director of the Phuket Tourism Authority of Thailand, Montri Manator, says, “Numbers of Chinese tourists visiting Phuket in tour groups have been continuing to decrease after the Phoenix sinking on July 5 this year.” “On the other hand, Chinese tourists who are visiting Phuket by themselves, called FIT […]

Vegetarian Festival price gouging arrives ahead of tomorrow’s festival

Vegetarian Festival price gouging arrives ahead of tomorrow’s festival

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Vegetable prices have climbed up by a few baht per kilo ahead of the Chinese Vegetarian Festival, which will officially kick off tomorrow, principally in Phuket and Bangkok. Vendors at a fresh market in Bangkok believed vegetable prices would soar even higher during the festival, which runs up to October […]

Thai economy’s growth in 2018 projected at 4.5% – World Bank

Thai economy’s growth in 2018 projected at 4.5% – World Bank

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Things are looking up for more economic smiles in the Land of Smiles with more positive news coming out of the World Bank. Projections are being revised upward, again. The World Bank says it’s adjusted its projections for Thailand’s economic growth upward, for the whole of 2018, to 4.5%, from […]

Bangkok and Phuket on the list of the World’s ‘Top City For Visitor Spending’

Bangkok and Phuket on the list of the World’s ‘Top City For Visitor Spending’

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According to Mastercard’s annual Destination Cities Index, Bangkok has earned the position as the world’s most visited tourist destination once again in 2017. Phuket also got into the Top 10 list of tourist money magnets. The Thai capital attracted over 20 million visitors over the past year, more than both […]

Exports rise nearly 7% in August, the highest this year

Exports rise nearly 7% in August, the highest this year

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Thai exports have gown at 6.68% to US$23.8 billion during the month of August, the highest gain so far this year. The announcement from Ms Pimchanok Wornkhorporn, director of Trade Policy and Strategy Office of the Commerce Ministry. Exports for the first eight months of this year rose 10.03% and, […]

Park Inn Radisson to debut in Phuket Town

Park Inn Radisson to debut in Phuket Town

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PHUKET: Park Inn by Radisson, the upper midscale brand from Radisson Hotel Group, will make its debut in Thailand with the launch of a brand-new hotel in Phuket Town. Scheduled to open in Q1 2020, the three-story Park Inn by Radisson Phuket Town will form part of a mixed-use development […]

Bank of Thailand marks Phuket boat disaster economic impact as inflation pressure rises

Bank of Thailand marks Phuket boat disaster economic impact as inflation pressure rises

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PHUKET: The Bank of Thailand has recognised the impact of the Phoenix tour boat disaster in Phuket has had on the economy, coupled with a jump in the inflation rate during the month July. The number of foreign tourist arrivals registered a moderated growth of 2.8% compared to the same […]

Confidence levels in the Thai economy continue to rise

Confidence levels in the Thai economy continue to rise

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Consumer confidence in Thailand is riding high. In fact it’s at its highest level in over 5 years. A growing economy and better prices for farm products is believed to be part of the continuing confidence. Regions in the country which have a high level of manufacturing or tourism are […]

Bank of Thailand working to launch own cryptocurrency

Bank of Thailand working to launch own cryptocurrency

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PHUKET: The Bank of Thailand (BoT) has entered into a collaborative project to develop and launch a cryptocurrency that is to be used as a trading platform for transfers between participating banks. The new digital currency is scheduled for launch in Q1 2019. “The BoT and the participating banks will […]