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Belgian man dies from injuries sustained in attack in Hua Hin

A Belgian man who was gravely injured in a brutal attack in Hua Hin in April has died from his injuries, it has been announced.

Jan Valkenborg from Riemst, Limburg province, was in Hua Hin when he was assaulted by a German national. The attacker, who had a criminal record and was a member of a fight club, also assaulted another person that same evening. Continued …

Stormy forecast: Extreme rain and thunderstorms in 42 provinces

The Meteorological Department of Thailand (TMD) issued another severe weather warning for 42 provinces nationwide, forecasting heavy rainfall and thunderstorms. Bangkok is expected to experience significant rain coverage at 70%, with authorities urging caution for flash floods and forest runoff.

The TMD released a 24-hour weather forecast today, highlighting the strengthening southwest monsoon covering the Andaman Sea, Thailand, and the Gulf of Thailand. A low-pressure area over northern Vietnam and the central South China Sea is also influencing the weather. Continued …

Student poverty ‘falling on deaf ears’

The government is paying insufficient attention to the dire need for extra funds to save millions of students from leaving the education system because they have run out of money, says an opposition MP.

Paramee Waichongcharoen, a list-MP from the Move Forward Party, raised the issue during the debate on the 2025 fiscal budget bill in the House of Representatives on Thursday. Continued …

Pay deductions altered, but conscripts still have to pay for meals

The Ministry of Defense has issued a set of criteria to determine which expenses can be deducted from conscripts’ salaries to ensure military recruits have enough money left to spend.

The move comes after a case involving alleged deductions from conscripts’ salaries for utilities and miscellaneous items recently emerged on social media, with reports of them even being charged for WiFi and a 500-baht deduction for a septic tank pumping fee. Continued …

Thailand’s Emerging Casino Landscape: A Game of Chance and Strategy

Thailand is on the cusp of a significant transformation with its move toward legalizing casino gambling. This potential shift in policy could reshape the nation’s economic and tourism landscape, tapping into the lucrative global gaming market.

The Thai government is considering a draft bill that, if passed, would mark a pivotal change in the country’s stance on gambling, potentially generating more jobs and state revenue. Continued …

Raising the Cap on Foreign Condo Ownership: A Potential Game-Changer?

The real estate sector, particularly the condominium market, has been a significant contributor to the economy of many countries. However, it has seen its fair share of challenges, including oversupply and slow sales. One potential solution that has been proposed is raising the foreign ownership limit to 60%.

Currently, in many countries, foreigners are allowed to own a certain percentage of condominium units in a single development. This limit varies, but it is typically around 40%. The rationale behind this restriction is to ensure that locals have access to property ownership and to prevent foreign speculation from driving up prices. Continued …

KResearch lowers its 2024 Thai economic growth forecast to 2.6 %

KResearch forecasts 2.6 % growth for the Thai economy in 2024, with growth gaining momentum in the latter half, driven by accelerated budget disbursement and stronger exports; close attention should be paid to trade protectionism risks.

Burin Adulwattana, managing director and chief economist at the Kasikorn Research Center, said, “U.S. economic activity has recently shown a stronger-than-expected momentum. As a result, market forecasts have been adjusted, indicating that the Federal Reserve is unlikely to cut interest rates in the near future, adopting a ‘higher-for-longer’ stance. Continued …

561 factories in Thailand have shut their doors this year

Thailand is facing a surge in factory closures, with 561 factories shutting down this year, primarily in the steel and metal industries. The Federation of Thai Industries (FTI) warns that if production costs, including energy, transportation, and interest rates, remain high, more closures are likely. The FTI is urging the government to take immediate measures to support businesses.

ML Peekthong Thongyai, the federation’s vice chairman, said the FTI is closely monitoring the ongoing trend of factory closures. According to data from the Department of Industrial Works, 561 factories closed between January and May, resulting in 15,342 job losses, averaging about 3,000 jobs per month. Continued …

Government Urged to Increase Import Duty on Cheaper Chinese Products

The Federation of Thai Industries (FTI) has called on the government to raise import duties or limit the influx of cheap Chinese goods to safeguard local factories.

The FTI warns that the surge of low-cost Chinese products is causing Thai industries to struggle, leading to a significant number of factory closures. Continued …

Online platforms eye digital wallet

E-marketplaces and an online food delivery platform are keen to take part in the proposed digital wallet scheme, aiming to create an “economic impact”.

Deputy Finance Minister Julapun Amornvivat said e-marketplace operators such as Shopee and Lazada have expressed interest in taking part in the government’s digital wallet scheme. Continued …

Line Man Wongnai fears more eateries may shutter

Line Man Wongnai has reported that the online food delivery market continues to grow, but the unfavourable economy could cause more than 50,000 to 100,000 small restaurants to close.

Thailand has a total of 700,000 restaurants, including mobile street vendors, with the total business value estimated at 800 billion baht. Of the total value, online food delivery services account for 15%. Continued …

Thailand’s durian diplomacy: Cracking the Chinese market wide open

Thailand is going all out to secure its crown in the lucrative Chinese durian market. The government has rolled out a series of innovative strategies, including high-tech farming enhancements and stringent quality controls, to ensure Thailand remains the top durian supplier to China.

Prime minister’ spokesman Chai Wacharonke announced at a press conference that Thailand has significantly bolstered its quality-control policies for fresh fruit exports, particularly durian. Continued …

Phuket Named Thailand’s Most Advanced Tech Province

Phuket has officially been recognized as Thailand’s leading province in technological advancements, clinching the top spot among 23 smart provinces in the latest report by the Digital Economy Promotion Agency (DEPA).

The report, part of the Thailand Smart City Competitiveness Index (TSCCI) 2023, evaluates the performance of smart cities across the country, offering insights into the progress and future potential of urban areas embracing technology. Continued …

Thaioil CEO Honored as ‘Thailand Top CEO 2024’

Bandhit Thamprajamchit, chief executive officer and president of Thai Oil Public Co., recently received the prestigious award “Thailand Top CEO of the Year 2024” in the energy industry category.

This award, presented by Business+ magazine in collaboration with the Faculty of Commerce and Accountancy, Thammasat University, recognizes exceptional leadership that steers a company to excellence while highlighting the significance of all stakeholders amid today’s global challenges. Continued …

Email link – kenbrown@businessclassasia.com

One Price for Locals … 6x for Tourists? When Foreigners Pay More

Hideyasu Kiyomoto, the mayor of Himeji City in Japan, this week proposed a significant price hike for foreign tourists visiting Himeji Castle, a UNESCO World Heritage site. Currently, the entry fee is JPY 1,000 (about $6) for all, but the mayor suggested increasing it to around $30 for foreigners, while locals would pay $5. The extra revenue would help with maintenance and to counter overtourism.

A restaurant in Tokyo is already testing two-tier pricing. Tamatebako in the city’s Shibuya neighborhood charges locals JPY 5,478 ($36) for a weekday lunch buffet, while foreigners pay JPY 6,578 ($42). For dinner, locals pay JPY 6,578 ($42), and foreigners JPY 7,678 ($49). Continued …

Tourism plan for second half of 2024 unveiled

The Tourism Authority of Thailand (TAT) on Wednesday unveiled its tourism promotion policy for the second half of the year, saying it would focus on attracting customers from long-distance markets to help the agency meet the government’s target of 3.5 trillion baht in tourism revenue this year.

Siripakorn Cheawsamoot, TAT’s deputy governor for Europe, Africa, Middle East, and Americas markets, said that long-distance markets for the rest of this year will be divided into two groups. Continued …

Illegal tour groups forced to close

The Tourism and Sports Ministry has investigated illegal tour companies offering extremely cheap packages, forcing 10 of them to close. Tour agencies said these gray market companies already account for 50% of Chinese tour groups in Thailand.

The minister’s action is in response to a call from the Association of Thai Travel Agents, which recently raised concerns about the return of ultra-cheap inbound packages. These packages promise very low fares to buyers, then once in Thailand they force tourists into shopping and spending at inflated prices. Continued …

Forest fires cut Thailand tourism revenue by 400 million baht

Forest fires in Thailand have severely impacted the economy, with annual tourism revenue dropping from 2 billion baht to 1.6 billion baht. The Department of National Parks, Wildlife and Plant Conservation (DNP) is urgently implementing prevention plans to address these issues.

Director of the National Park Office at the DNP Chaiwat Limlikit-aksorn revealed that most forest fires are human-induced, resulting in significant environmental and economic losses. Continued …

Thailand eyes 8 trillion baht revenue in 2027 from soft power

The Thailand Creative Content Agency (THACCA) will host the country’s first soft power expo next week to showcase the economic potential of Thai soft power in driving the country to become a leader in the creative economy.

The event, titled “THACCA SPLASH – Soft Power Forum 2024,” will be held from June 28-30 at the Queen Sirikit National Convention Center in Bangkok. Continued …

Three-Country Route ‘Trat-Sihanoukville’ Dusted Off for High Season

Efforts to reach an agreement between three countries – Vietnam, Cambodia and Thailand – under the “Cambodia-Vietnam-Thailand Economic Corridor Cooperation Conference: CVTEC” to promote cooperation in the areas of trade, investment, transportation, tourism and MICE in the Southern Economic Corridor (SEC) have encountered numerous obstacles over the past eight years.

Recently, according to a report, at the CVTEC 2024 international conference at the Aiyapura Hotel on Koh Chang, Trat, hosted by Thailand with the support of the Thailand Convention and Exhibition Bureau (TCEB) and the Tourism Council of Thailand (TCT), things have started to come together. Continued …

Thailand Grand Prix Set for October 25-27

The PT Grand Prix of Thailand 2024 is poised to be a highlight on the global motorsport calendar. Taking place from Oct. 25-27 at the Chang International Circuit in Buriram, this event is expected to capture the attention of over 800 million viewers from more than 200 countries.

Phonpoom Vipattipumiprates, vice minister for tourism and sports, recently emphasized the significant economic advantages of hosting the MotoGP event. Last year, the Grand Prix attracted nearly 180,000 spectators, led to an 11% uptick in international tourism, and raked in over 4.493 billion baht in local expenditure. Continued …

Phuket lifeguards raise red flags as surf conditions turn deadly

Lifeguards today have raised red no swimming flags along Patong Beach, urging all residents and tourists to avoid entering the water. This follows a notice issued yesterday by Phuket Vice Gov. Sattha Thongkham, acting on behalf of the governor of Phuket.

The red flags indicate areas deemed too dangerous for swimming due to heavy surf conditions. Despite these warnings, some individuals continue to ignore the advisories, putting themselves at risk. Continued …

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