luxury retail thailand -

Subscribe to Blog via Email

Amazing Food Festival/Squid and Seafood Festival/Hua Hin-area events/La Nina already under way/Online Fraud Losses Surge/Three more Olympics medals/War with sidecar vendors/Thailand’s revolutionary plastic road/Economy: Move Forward’s dissolution impacts/PM plays down foreign concerns/Facing economic and political turmoil/Small Retailers Sign Up For Digital Wallet/Crackdown on Chinese Imports/Growing trade deficit with China/SME factory closures/To Hold Interest Rate at 2.5% /How Thai Media Survive/Luxury retail market sales/Hyundai Mobility to churn out BEVs/WHA invests in AI for green logistics/Tourism: Domestic tourism over long weekend/How much do foreign tourists spend/Thailand’s Schengen-Style Visa Proposal/Most Likely To Approve Schengen Visa/British Airways flights to Bangkok/Thailand Experience: New level for Thai golf/International/Links: Climate Thailand/Calendar of events/Airport schedule/Bangkok airport bus schedule/Hua Hin-Pattaya bus schedule/Air pollution index map/90-day online report/driver’s license/Market Village and Bluport cinemas/Emergency numbers

Squid and Seafood Festival Aug 9-11

The 2024 One-Sun Squid and Seafood Festival starts today and runs through Sunday at Laem Kade, on the beach front in Pak Nam Pran.

The festival’s signature attraction is the “one-sun squid,” renowned for its unique taste. Squid from Pak Nam Pran is celebrated for being naturally sweet and tender, a result of the freshwater from the Pranburi River flowing into the sea and enriching the marine environment with plankton. Continued …

Weather office says La Nina already under way

The La Nina climate pattern has begun affecting local weather, according to the Thai Meteorological Department. Although there is heavy rainfall in some areas, officials say water volume in the reservoirs of major dams may not be sufficient to meet requirements during the dry season that runs from November to April.

Thailand began experiencing La Nina in July and the pattern is likely to continue until early next year, the department’s weather forecasters say. It will lead to heavy rainfall across the country, alongside tropical storms in August and September. Continued …

Online Fraud Losses Surge to 3.47 Billion Baht in July

Online fraud in Thailand has surged exponentially, recording total damages of 3.47 billion baht for the month of July alone. Government spokesperson Karom Phonphonklang has shared these statistics, highlighting the relentless advance of cybercrime.

The figure sits as an average loss of 111.98 million baht per day. Despite diligent efforts to tackle the issue, 13.54 billion baht in requests for account freezes had poured in. Of this, authorities managed to successfully freeze 1.49 billion baht. Continued …

Thailand scores three more Olympics medals

Thai athletes secured another three medals from taekwondo and weightlifting in the Paris Olympics on Thursday for a total of five medals.

Thai taekwondo star Panipak Wongpattanakit retained her Olympic title after beating Qing Guo from China 2-1 in the women’s 49-kilogram category. Panipak made her way to the final by beating Moroccan Oumaima El Bouchti, Dunya Ali Abutaleb from Saudi Arabia and Lena Stojković from Croatia. Continued …

Pattaya goes to war with sidecar vendors

Pattaya municipal officers fined many vendors on the Pattaya-Naklua Road for obstructing traffic following complaints from residents and tourists. The operation, carried out yesterday, was ordered by Pattaya Mayor Poramase Ngampiches.

Previously, residents and tourists traversing along Pattaya-Naklua Road have complained to the city about these vendors creating traffic congestion with their sidecars while selling goods and food on the roadside. Continued …

Thailand’s revolutionary plastic road

Thailand’s Department of Rural Roads is planning to use a revolutionary asphalt grade for repairs to the road connecting Muang District with Nakhon Ratchasima Airport. Recycled plastic waste will be used in the asphalt mix for the 3km road stretch. Work on the section of Highway No 3140 will commence in the third quarter of 2024 and continue until the third quarter of 2025.

This is the first time the use of plastic waste in an asphalt mix will have been trialled in Thailand and its use on a busy stretch of road handling high traffic volumes is highly innovative. Similar trials have been carried out in some European countries, as well as in Australia, India and South Africa. Continued …

Move Forward’s dissolution impacts western investor confidence: FTI

The Federation of Thai Industries’ president said on Thursday that the dissolution of the Move Forward Party will affect the confidence of investors from the West.

FTI chief Kriangkrai Thiennukul said the Constitutional Court’s decision on Wednesday to dissolve the party most certainly affected the confidence of investors, especially those from the West, as Europe and North America attach importance to political liberty. Continued …

PM plays down foreign concerns over Move Forward ruling

Prime Minister Srettha Thavisin on Thursday acknowledged concerns expressed by other countries about the court-ordered dissolution of the Move Forward Party, but insisted that Thailand is a free and democratic nation that is not swayed by foreign influence.

Thailand is capable of addressing its internal affairs without external influence, he said in response to questions about a statement issued by the U.S. State Department after the Constitutional Court ruling on Wednesday. Continued …

Thailand finds itself facing economic and political turmoil

The dissolution of the Move Forward Party by the Constitutional Court in Thailand made news on Wednesday worldwide. Certainly, it is not the sort of news the government needs to attract inward investment. Neither does it send a signal that Thailand is politically stable.

Another, in the short term, even more momentous ruling, is due next Wednesday. The removal of Prime Minister Srettha Thavisin would see the government collapse. A political crisis would ensue. Continued …

100,000 Small Retailers Sign Up For Digital Wallet Scheme

Deputy Finance Minister Julapun Amornvivat has announced that approximately 100,000 small-sized merchants have offered to join the new digital wallet project. This scheme, initiated by the government, aims to modernize transactions and promote cashless payments among vendors and consumers.

Julapun expressed optimism that more retailers, food vendors, and restaurant owners would come on board by registering with the Ministry of Commerce from Oct. 1. Continued …

Government to Crack Down on Low-Quality Chinese Imports

In a bid to protect local businesses, the Thai Ministry of Commerce is considering stringent measures against the influx of cheap and substandard products from China. Local enterprises have been clamoring for action, citing the overwhelming presence of these products both online and in physical stores, which is threatening their survival.

Recently, a meeting was convened, attended by representatives from the Commerce Ministry, the ministries of Public Health, Digital Economy and Society, Finance, and various regulatory bodies. The focal point of the discussion was the negative impact of low-quality Chinese imports on local markets. Continued …

Email link – kenbrown@businessclassasia.com

Alarm bells rung over growing trade deficit with China

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has expressed concern over the widening trade deficit between Thailand and China.

In the first six months of 2024, imports from China increased by 7.12% year on year, amounting to over US$37.569 billion (approximately 1.33 trillion baht). This resulted in a trade deficit with China of $19.967 billion (about 720 billion baht), up 15.66% year on year. Continued …

SME factory closure jump spurs calls for state investment

The closure of more than 660 factories by small and medium-sized enterprises (SMEs) in the first half of 2024 has raised alarms among economists and business leaders.

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) has called for government support after 667 SME production facilities shut down, marking an 86.3% year-on-year increase and averaging 111 closures a month. Continued …

Bank of Thailand To Hold Interest Rate at 2.5% Amid Inflation Concerns

The Bank of Thailand is anticipated to maintain the benchmark interest rate at 2.5% in its forthcoming meeting, responding to the gradual rise in inflation back within its target range. Experts are calling for more government stimulus, alongside existing digital wallet schemes, to invigorate the sluggish economy.

Headline inflation edged up to 0.8% last month, exceeding the consensus estimate of 0.7% and June’s 0.6% rise. This nearing alignment with the central bank’s inflation target range of 1%-3% was highlighted by Maybank economists in Kuala Lumpur. Continued …

How Thai Media Survive in Economic Challenges and New Landscape

The media industry is facing major challenges due to changes in consumer habits and economic instability. A sharp drop in advertising spending has hit media companies worldwide, forcing many to make significant adjustments just to survive.

In Thailand, 2024 has been particularly tough for media outlets. Several have had to close, cut jobs, and delay salaries. These problems highlight both the difficulties and potential within the current media landscape. With the economy remaining unpredictable, shrinking advertising budgets are affecting print, TV, and online media. Continued …

Luxury retail market sales four times higher than in pre-pandemic period

Sales in the luxury retail market in the first half of this year increased four times from the same period in 2019, before the Covid-19 pandemic, according to a market survey published by The 1 Insight on Thursday. The data insight platform that focuses on consumer lifestyles said the main contributors to the big growth despite the sluggish economy were new generation shoppers.

The 1 Insight said the trend was in line with the “lipstick effect”, which is used to describe the same situation in several countries around the world. The lipstick effect theorizes that when facing an economic crisis, consumers will be more willing to buy small indulgences such as premium lipsticks. Continued …

Hyundai Mobility to churn out BEVs, batteries by 2026

South Korea-based Hyundai Mobility Manufacturing (Thailand) plans to make battery electric vehicles (BEVs) and batteries in Thailand by 2026 after its 1-billion-baht project was approved by the Board of Investment (BoI).

The plan was announced by the board after granting approval for the project yesterday under the second-phase electric vehicle (EV) incentive package, known as EV3.5. Continued …

WHA invests 60 million baht in AI for green logistics

WHA Corp., a developer of built-to-suit logistics facilities, is intensifying its investment in artificial intelligence (AI) to enhance its green logistics operations and ultimately transition into a tech company.

This year, WHA plans to allocate 60 million baht to AI technology, which is expected to significantly boost business efficiency, according to the group chief executive and chairman of the WHA Executive Committee, Jareeporn Jarukornsakul. Continued …

Domestic tourism to generate Bt9.4 billion over long weekend

Some 2.6 million Thais are expected to travel domestically during the 3-day holiday this weekend, generating around 9.39 billion baht in revenue for local entrepreneurs, the Tourism Authority of Thailand (TAT) predicted on Thursday. Aug. 12 is Thailand’s Mother’s Day, as well as the birthday of Her Majesty Queen Sirikit the Queen Mother.

The estimates of domestic tourists over this weekend are lower than those for the long weekends in July, TAT Gov.Thapanee Kiatphaibool said, adding that she expected a drop of 3% over July 20-22 (Buddhist Lent Day) and 5% lower than July 27-29 (King’s birthday). Continued …

Quiz: How much do foreign tourists spend on a trip to Thailand?

Thailand, famous for its golden pagodas, friendly visa policy and diverse culture, is a popular tourist destination in Southeast Asia and let’s guess how much foreign tourists spend on a trip here. Continued …

Thailand’s Schengen-Style Visa Proposal Faces Hurdles

Prime Minister Srettha Thavisin has proposed a unified visa system, similar to Europe’s Schengen area, to boost tourism in Southeast Asia. Despite the economic benefits of increased tourist numbers, concerns about feasibility, overtourism and potential inflationary pressure persist.

The success of the visa proposal will hinge on the adoption of sustainable tourism practices and effective regional cooperation. Continued …

Countries Most Likely To Approve Schengen Visa Application From Thailand

If you’re planning a European holiday, understanding the latest statistics on Schengen visa approval rates may tell you which country is most likely to grant you a visa. While no country guarantees visa approval, certain nations have demonstrated higher Schengen visa approval rates for Thai citizens.

According to new data, Thai citizens are most likely to get their Schengen visas approved from Austria, followed by Switzerland and Czechia. On the other hand, Switzerland, France, and Germany are the most popular destinations, with the highest number of applicants from Thailand in 2023. Continued …

British Airways flights to Bangkok to resume end of October

British Airways is ramping up its flights from London to Bangkok and expanding its codeshare partnership with Bangkok Airways, giving travelers even more options to explore Thailand and Cambodia.

British Airways’ direct route from London Gatwick to Bangkok is back on Oct. 28, after a four-year hiatus. Initially operating three times a week, the service will increase to five weekly flights between January and March 2025, making it easier than ever to reach Thailand’s vibrant capital. Continued …

Stonehill: A new level for Thai golf

Stonehill stands as an example of the amalgamation of modern design principles and the timeless elegance of Golden Age architecture.

Hosting Asia’s inaugural LIV Golf event in October 2022, just a few months after opening, the 7,861-yard Kyle Phillips layout received glowing reviews from the LIV pros for impeccable conditioning and providing a fair test of their golfing skills. Continued …

Austria foils ‘terror’ plot to strike Taylor Swift concert

A 19-year-old Austrian terrorism suspect had taken concrete steps in planning an attack on a Taylor Swift concert, with chemical substances found during a search of his residence, officials said on Thursday. The American pop superstar’s three concerts in Vienna, expected to draw 195,000 people, were cancelled late Wednesday after the government flagged a planned attack. Continued …

Hottest oceans in 400 years endanger Great Barrier Reef

Water temperatures in and around Australia’s Great Barrier Reef have risen to their warmest in 400 years over the past decade, placing the world’s largest reef under threat, according to research published today. The reef, the world’s largest living ecosystem, stretches for some 2,400 kilometers off the coast of the northern state of Queensland. Continued …