A quick glance at Thailand news and the online publication “Thailand Business News” tells the tale of the growth taking place in the Thai economy.

The World Bank projects that growth prospects for 2017 and 2018 remain positive for developing east Asia and the Pacific

Favourable external factors include stronger growth in advanced economies, a moderate recovery in commodity prices, and a strengthening of global trade growth.

In Thailand Business News we get a picture of the financial trends and forecasts taking place in Asia. Currently, healthcare challenges are expected due to demographics shifts and lifestyle changes.

Thailand and Malaysia are expected to grow more rapidly than expected, due to stronger exports and tourism for the former, and increased investment in the latter.

Disparity in gender pay schedules is under the microscope and on a more positive note, the e-sports market is rising quickly.

Asian sports betting

With the rise of e-sports, comes an entire thriving industry of sports betting. Popular online betting companies such as Betway, are helping to boost the economy through a give and take system that puts funding back into the community.

Most online e-sports betting companies make an effort to revitalize sports clubs and support them with generous donations when business is up.

Gender pay differences

The media reports that there is a lack of gender parity when it comes to leadership positions in Asia. A random survey showed that most of the general public believe that this is unintentional.

Asia is seeing a movement of men who are jumping on the bandwagon to tailor programs to combat the issue of gender inequality. This is a positive step that could offer far reaching benefits for women in the workplace.

Asia facing potential financial crisis over healthcare

“Thailand Business News” reports that there is an emerging shift in demographics and lifestyle that could necessitate a $320 billion healthcare challenge by the year 2025. Projections are based on a growing trend in obesity rates.

Poor eating habits pose a significant threat to the health of the people in Thailand, Singapore, Indonesia, Philippines, Vietnam and Malaysia. The estimated cost increase is expected to total $740 billion in USD, up from the current cost of $420 billion.

Thailand news is a mixed bag of financial ups and downs

The picture we’re getting is not totally bleak. Although the eight nations of Asia will face some serious challenges in funding healthcare for a higher population that has a rising trend in unhealthy lifestyle choices, there are more positive things happening that could help avert a crisis.

On a…

Source link : Analysing Thailand News With a Business Perspective by Pr News

Just a few years ago competitive gaming was the kind of hobby that gaming purists kept very much to themselves, often conducted locally and with next to no media exposure.

The rise of e-sports – led by East and Southern Asian countries – has completely turned that on its head, with a global turnover rapidly nearing $1bn.

Compared to more traditional sports that may sound comparative pennies, but the fact is that nobody can deny the near certain probability that e-sports is going to continue to grow in value enormously.

With Betway88 now available in Thailand and rumored to be looking to enhance their e-sports betting options, let’s take a look at why this phenomenon is here to stay.

An Enormous Audience Willing To Spend

As mentioned above, e-sports has only been on the scene for at best a few years and already it has attracted a huge following.

Thanks to a combination of widespread internet streaming and gaming becoming an ever more mainstream hobby, it is estimated that Asia has somewhere between 20-25 million active fans watching competitive online gaming, with around 150 million active participants (those who play for kicks, not professionally).

Assuming current trends continue, that figure is only going to keep growing. Currently, the annual growth rate is an astonishing 38%!

Interestingly, and especially appealing for advertisers and broadcasting companies, the demographic isn’t what many people would assume.

Studies have suggested a strong female following, and that these aren’t just bored teenagers watching for tips on how to get better at popular games such as League of Legends or Overwatch.

A good proportion is in the 18-30-year-old bracket, with disposable incomes that they are willing to spend towards following their e-sports hobby.

E-sports Is Going Mainstream

Key to maintaining this staggering growth in revenue is of course media exposure. Asia is setting an example of how e-sports is becoming ever more integrated with what we may term the ‘established’ sporting scene.

One notable and much-quoted example is that across the region 20.4 million people tuned in to the NBA finals, whereas 33 million watched the 2017 League of Legends World Cup.

Asian sports networks have already launched regular coverage of the big name competitions because of these audience figures, which of course are also supported by an enormous amount of user-generated online content.

The 2020 Hangzhou Asian Games are going to set a landmark by including E-sports competitors among the list of competitors.

In 2022, e-sports is scheduled to be included in that year’s games. Thailand is so determined to make e-sports work that they’re building a dedicated e-sports Arena, which is set to be a world-leading venue for…

Source link : E-sports Is Here To Stay In Asia by Pr News

Thailand’s Ministry of Commerce has launched a ‘Buy With Confidence’ programme that will issue certifications to ensure the quality and standard of Thai gem and jewellery with the objective of boosting confidence among Thai and international consumers.

The Gem and Jewelry Institute of Thailand (GIT) has been assigned to carry out the ‘Buy With Confidence’ programme in cooperation with relevant government agencies, including the Ministry of Commerce, the Ministry of Tourism and Sports, the Office of the Consumer Protection Board, and the Tourist Police Bureau.

The programme is expected to help increase confidence among local and international consumers as well as to enhance the opportunity for businesses to sell certified gem and jewellery to tourists.

According to the Ministry of Commerce, the GIT’s facilities include a world-class gem and jewellery laboratory that is supervised by the Thai government. Staffed with highly experienced gemologists and equipped with the world’s most advanced instruments, GIT’s services are trustworthy and widely recognised worldwide.

Consumers can be confident that every piece of jewellery certified by GIT is trustworthy and is qualified according to the accompanying Gem and Jewellery Certification document.

The institute has selected gem, gold and jewellery shops and businesses that pass the qualifying standards to participate as members of the programme to receive gems and jewellery certifications from GIT as well as other numerous benefits.

Currently nearly 140 companies have applied for membership to this programme, with 68 passing the initial standard and have recently been awarded certificates.

Within 2018, GIT aims to expand membership of the ‘Buy With Confidence’ programme to 500 companies, targeting cities such as Bangkok, Chanthaburi and other key tourist destinations.

Companies awarded with the certification are encouraged to display the programme’s sticker in front of their shops. There will be a QR code for consumers to scan for details about the shop as well as QR codes on the products to see certification on specific pieces of jewellery.

Consumers can also ask for physical copies of the certification from the shop to match the slogan of the program: “Buy With Confidence, Look for GIT certificate to ensure the products on sale and Buy With Confidence.”

Should any issues arise between buyers and shops in the ‘Buy With Confidence’ programme, buyers can lodge a complaint by calling Hotline 1166 (Office of the Consumer Protection Board), or 1155 (Tourist Police Bureau) or 1569 (Department of Internal Trade), which are partners of the institute.

According to the Ministry of Commerce, the gem and jewellery industry is one of…

Source link : Thailand launches ‘Buy With Confidence’ gem and jewellery certification plan by Boris Sullivan

A spate of public and private positive forecasts have revised up Thailand’s GDP growth projection for 2018 to over 4 per cent.

Earlier this week the Joint Standing Committee on Commerce, Industry and Banking (JSCCIB)  increased the group’s 2018 GDP projection from growth of 3.8-4.5% to 4.0-4.5% after witnessing better sentiment over the first two months of the year.

Steady gains in Thailand’s export and tourism receipts

According to Bank of Thailand latest press release, tourism registered a growth of 10.9 per cent January and 13.9 per cent in February mostly on the back of Chinese arrivals

The Joint Standing Committee on Commerce, Industry and Banking (JSCCIB) also cites the sustained recovery of the global economy and the steady gains in Thailand’s export and tourism receipts.

JSCCIB chairman Chen Namchaisiri said Thailand’s economic indicators for the first two months of 2018 show consistent expansion in overseas shipments on the back of the positive global economic conditions, as well as the tourism boom.

But the private sector has expressed concerns that public investment may not grow as forecast after contracting 6% year-on-year in the first quarter of fiscal 2018 (October-December 2017).

Others economic forecasters have also revise up the country’s economy growth projections thanks to public investment along with the robust export and tourism sectors.

Kasikorn Research Centre (Kresearch) is sticking with a forecast of 4.5 per cent export growth, amid concerns over a trade war. It estimates economic growth of 4 per cent for this year, shading earlier estimates.

The SCB Economic Intelligence Centre (EIC) has pencilled in economic growth of 4 per cent for this year, up from an earlier estimate.

EIC expects the Thai economy to continue expanding at 4.0%YOY in 2018, but the concentration of growth as in Q4/2017 is likely to remain. Given the stronger outlook of the global economy and declining risks of economic slowdown in major economies, Thailand’s merchandise exports and tourism will likely remain key growth drivers this year.

The centre, a unit of Siam Commercial Bank, said exports and the number of tourist arrivals are projected to see year-on-year expansion of 5 per cent and 8 per cent, respectively.

The post Forecasters Consensus shows Thailand’s growth outlook above 4% appeared first on Thailand Business News.

Source link : Forecasters Consensus shows Thailand’s growth outlook above 4% by Olivier Languepin

Previous large-scale infrastructure initiatives, such as the Krabi power plant, the Mae Wong irrigation dam, or the more historic Kaeng Sue Ten irrigation dam were all put on hold owing largely to the failure of the public decision-making process.

Such failures are particularly evident in cases concerning large-scale investments that affect local communities and the environment.

The Thepha coal-fired plant, with a capacity of generating 2,200 megawatts of electricity, is intended to equip the southern region with power to support its growing economy, particularly during peak demand.

However, this public investment now looks in doubt owing to the opposing views concerning the environmental impacts from coal, resettlement of local communities and, more importantly, the accuracy of the plant’s Environmental and Health Impact Assessment (EHIA) report.

To end this conflict, the government has ordered the Thepha EHIA report be revised. Last Wednesday, the Minister of Energy announced the current total production capacity of electricity is probably sufficient to support the economy and there will be no large-scale investments in plants in the South for the next three years.

This decision will surely buy some time for the people in Thepha. But as long as the public decision-making process regarding power plant investments does not change, conflicts over the plants will resurface sooner or later.

Even though the Thepha power plant conflict has subsided for the time being, the issue of local community opposition to large-scale infrastructure investment is left unresolved. The key issue here is that society has long grown tired of topdown decision-making and is demanding increasing involvement in such matters.

Take the electricity supply as an example. To achieve energy efficiency and energy security, Thailand needs to come up with a new decision-making process for large-scale public investments.

One promising option is to let people choose and tailor their own electricity generation preferences.

What are of choices that should be open to the public?

Electricity can be produced in a number of ways. Firstly, people should be able to decide if they prefer the cleaner but more expensive electricity produced from biofuel or solar, to the cheaper but more polluting energy produced from coal. In many countries, home owners can actually choose if they want to buy electricity from renewable sources or from fossil fuel.

Second, people should be able to decide if they prefer large-scale stateowned plants or small- and mediumscale privately owned ones.

The latter have promising potential and they are now becoming more efficient and can help redistribute income to local operators. The expansion of small- and…

Source link : Thailand’s Power plant investments at the crossroads by Bahar Karaman

Visitors from the world’s most-populous nation surged to a record 1.2 million in February, swelled by the Lunar New Year holiday period, Tourism Ministry data released in Bangkok showed

The kingdom expects 38 million tourists overall this year, more than 10 million from China.

China’s outbound travel market raked up 130 million trips in 2017, a 7% increase on 122 million trips recorded in 2016.

Thailand and Japan continue to be the two hottest outbound destinations for Chinese travelers according to Ctrip(Nasdaq: CTRP), the largest online travel agent in Asia and the second largest in the world.

But with more flight connections, better exchange rates and fewer visa restrictions, destinations such as Morocco, Turkey and Tunisia are seeing a huge growth in visitors from China.

Ctrip released the “2017 China Outbound Tourism Travel Report” alongside China Tourism Academy (CTA), a specialized institute under China National Tourism Administration (CNTA).

The number of outbound trips has reached 130 million in 2017, up 7.0% from 122 million in 2016. An estimated 115.29 billion USD was spent during 2017, a year-on-year increase of 5%.

Such a large number of inbound tourists puts significant strain air and road infrastructure and can lead to substantial waste issues

Thailand is spending billions to upgrade its infrastructure, open up new islands and cities to travelers, and tone down its image of cheap shopping, hotels and sex that underpinned the industry for half a century.

But the change will take years and even then may fail to keep up with soaring visitor numbers that have given the Land of Smiles a reputation for delays, overcrowding and government crackdowns.

The post Chinese Tourists in Thailand surged to a record 1.2 million in February appeared first on Thailand Business News.

Source link : Chinese Tourists in Thailand surged to a record 1.2 million in February by Boris Sullivan

Prime Minister Gen Prayut Chan-o-cha was happy and satisfied with the latest survey that ranked Thailand on the eighth place among the top 20 countries best for investment in the world by the US News.

Government spokesman Lt Gen Sansern Kaewkamnerd said the prime minister was yesterday briefed on the US News’ ranking of the ” 2018 Best Country to Invest In” which Thailand was ranked at the eighth position.

Lt Gen Sansern said the prime minister was happy and pleased with the survey which he said reflected better acceptance of the country in the international community.

Gen Prayut attributed this latest ranking result to good cooperation between the government, private sector and the general public, as well as the government’s 4.0 Strategy that was aimed to attract foreign investors to the country.

The US ranking was in line with recent ranking by World Bank that placed Thailand on the 26th position for “Ease of Doing Business” this year from 46th last year, the spokesman said.

He said the prime minister also voiced satisfaction when several countries in ASEAN, namely the Philippines, Indonesia, Malaysia and Singapore were also among the top 20 countries.

The prime minister said ASEAN has now become the magnate of foreign investors, adding that economic cooperation of ASEAN and it’s policies were on the right track to go forward together without leaving any member countries behind.

The U.S. News surveyed over 21,000 people worldwide about 80 different countries, measuring them on 65 different attributes, including cultural influence, entrepreneurship, and quality of life in its 2018 Best Countries ranking.

For the best countries to invest in ranking, U.S. News focused on just eight of the 65 attributes: entrepreneurship, economic stability, favorable tax environment, innovation, skilled labor, technological expertise, dynamism, and corruption.

Responses from over 6,000 survey participants – who act as decision makers in business around the globe – were then used to determine the ranking.

Thailand

#8 in Best Countries to Invest In

$406.8 billion gdp 68.9 million population $16,885 gdp per capita, ppp

#27 in Best Countries

Thailand, which translates to “land of the free,” is the only Southeast Asian nation that did not encounter European colonization. Located just above the equator, the nation is wedged into the Indochina peninsula with neighbors Myanmar, Laos and Cambodia and has an arm that extends out to Malaysia.

Originally known as Siam, the kingdom was unified in the mid-14th century and became a constitutional monarchy in 1932 after a non-violent revolution. Recurring coups have since escalated into large-scale political turmoil spurred by party division and…

Source link : Thailand ranked on the eighth place among the top 20 countries best for investment by Headline Editor

Bangkok’s real estate market has witnessed tremendous growth over the last five years. Since 2013, more than 300,000 new condo units have been launched, 1.3 million square metres of new retail space has opened and nearly 800,000 sqm of new office space has completed, not to mention healthy growth in the hospitality and logistics sectors.

In 2018, the underlying drivers of the recent growth cycle are changing and creating new challenges for the market’s leading players. Property consultancy JLL reveals some of the trends that are shaping the Bangkok real estate market this year.

Andrew Gulbrandson, Head of Research at JLL, says “Rapidly rising land costs continue to represent a significant challenge for the market today. The recent annual increases around the market of 10-15% per year are pushing developers in new directions.”

With only a handful of exceptions, it is no longer financially feasible to acquire new freehold land in the city centre for office, hospitality or retail uses. As a result, many investors are seeking opportunities to secure long-term leases for new commercial and hospitality development.

“Asides from rising land costs, there are numerous other challenges facing investors in certain market sectors, one of which is intensifying competition. To ensure success, and indeed the happiness of shareholders in many cases, market leaders are taking a variety of steps as they pursue growth objectives,” says Mr. Gulbrandson.

He explains that while the trend of residential developers moving to higher priced products that target both local and foreign buyers with higher liquidity exemplifies the case well, the most prolific growth strategy being adopted by local players is entering into joint venture (JV) partnerships, in many cases with foreign investors.

According to JLL’s Thailand Property Intelligence Centre, the total value of JV investment has exceeded THB 570 billion since 2013. Entering into such partnerships allows both parties to mutually benefit by diversifying risk and by sharing knowledge and technical resources. Similarly, there has been a substantial wave of new merger and acquisition (M&A) activity in recent years, a total of THB 170 billion since 2013, according to JLL data.

Aside from JV and M&A activity, many leading domestic residential developers are actively sourcing new opportunities in non-core market sectors. Examples include Ananda Development launching several new hospitality projects, Origin Property looking to enter both the serviced apartment and office markets, Major Development and Raimon Land announcing noteworthy investments in the office market.

A few bold market leaders including Ananda, Sansiri and Central Pattana (CPN) are making…

Source link : What’s in store for Bangkok real estate in 2018? by Daniel Lorenzzo