Thailand Business News

Philippines ratified Second Protocol of AANZFTA to boost trade, investment, and align with ASEAN's economic goals, modernizing the agreement.

TAT and Grab have teamed up to launch a promotional campaign targeting secondary cities, offering discounts for travel and ride-hailing services to boost tourism...

Thailand's economic growth to be 2.8% due to weak exports and delayed budget. Key drivers will be tourism, private consumption, and a $14 billion handout. World Bank recommends reforms to boost growth in a sustained economic downturn, including building human capital and promoting innovation. Challenges include global supply chain disruptions, labor shortages, tourism dependency, political uncertainty, debt levels, climate change, digital transformation, and income inequality. Thailand aiming for 90% tourist arrivals of pre-pandemic levels and record 40 million foreign visitors in 2024.

The cabinet has approved a minimum wage of Bt400 for hotel workers in certain locations. ## Cabinet Approval for Bt400 Minimum Wage In a recent development,...

Thailand's economy grew only 1.9% in 2023, lagging behind its neighbors like Indonesia and Vietnam. Factors include slow demand from export markets and a lack of high-skilled workers. The country faces challenges with high household debt and must focus on improving productivity and education to avoid falling further behind. Despite these challenges, Thailand's GDP is expected to grow by 2.6% in the coming year.

Chinese tourists contribute to the growth of Thai tourism following a new visa exemption agreement, resulting in increased tourism revenue and economic benefits for...

Thailand's 2024 SCD Update highlights challenges like inadequate human capital, lagging productivity, and infrastructure gaps, urging reform for sustainable growth.

Thailand's lower house passes delayed 3.48 trillion-baht budget for fiscal year 2024, focusing on increasing consumption and economic recovery.