Future of Thai department stores is being redefined While department stores have been a familiar destination for Thai people for many decades, CBRE, an international property consultant, is witnessing a decline in popularity and stunted growth, particularly in 2020 when Covid-19 adversely impacted the sector. CBRE believes that to adapt to e-commerce disruption and the…
Bangkok condo prices expected to continue to fall this year Condo prices in Bangkok are falling and are expected to continue to fall throughout the year. The real estate market isn’t anticipated to pick back up again until the Covid-19 pandemic eases. The average prices of new condos in Bangkok are expected to fall by…
Thailand’s rich not eligible for 3,500 baht government handout Thailand’s Finance Ministry has confirmed that wealthy citizens are not eligible for the government’s monthly cash handout of 3,500 baht. The Rao Chana (“We Win”) scheme consists of 2 monthly payments of 3,500 baht for those struggling with the financial fallout of the Covid-19 pandemic. Those with savings above a…
Thai Exports to grow 4% in 2021 Contributing factors include the recovering world economy and the International Monetary Fund’s (IMF) estimate that the world economy will expand 5.2 percent in 2021 from a contraction of 4.4% this year. BANGKOK (NNT) – The Department of International Trade Promotion (DITP) forecasts that exports in 2021 will gradually return…
Asia’s supply chains to be tested by COVID-19 vaccine delivery The global logistics company DHL estimates that global vaccine coverage will take around 200,000 pallet shipments and 15 million deliveries in cooling boxes as well as 15,000 flights. The enormous logistical challenge of vaccine distribution will be aided by trade and supply chain finance guarantees.…
Making palm oil more sustainable Helping oil palm smallholders adopt more responsible practices is key to reducing the industry’s environmental impact. Palm oil has long been a major economic backbone of Southeast Asian economies, notably Indonesia, Malaysia and Thailand. But the undeniable environmental impact of extensive deforestation, haze and forest fires caused by oil palm…
Thai economy set to lose $10 billion as Covid returns Consumer confidence has slumped with the return of the virus sparking fears for Thailand’s economy and jobs situation – meanwhile the Thai stock exchange has revealed plans to add $16 billion in market capitalisation in 2021 Thailand’s economy could lose as much as 300 billion…
Thailand Skipped Lockdown to Save Economy, But Growth Takes Hit (Bloomberg) — Thailand’s latest virus outbreak is likely to crimp consumer spending and delay a tourism revival, prompting warnings the economy may undershoot expectations for a rebound this year and next. Thailand hopes to avoid a full national lockdown to stem a wave of infections…
Thailand’s slow economic recovery Author: Juthathip Jongwanich, Thammasat University Thailand’s economic performance in the third quarter of 2020 showed promising signs of recovery amid the ongoing COVID-19 pandemic. The contraction in GDP fell to 6.4 per cent year-on-year, down from 12 per cent in the second quarter. Signs of recovery in key industries such as electronics…
Thai Air Asia says new Covid outbreak has destroyed business The executive chairman of Asia Aviation, the largest shareholder in Thai Air Asia, says the Covid-19 resurgence has destroyed the low-cost carrier. Tassapon Bijleveld says that even without a national lockdown, bookings have plummeted. “Travel sentiment has plunged lower than last year. This is different…