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Sunbelt Asia will be closed Tuesday August 23 for Chulalongkorn Day. This is a national public holiday and government offices will be closed.

Thailand tops list for Chinese tourists during Golden Week

CTrip, China’s premier travel booking site, reported that Thailand was the top destination for Chinese travelers during the recent Golden Week holiday from October 1 to October 7. The country is the third most popular destination over all but jumped to the top during Golden Week with rising popularity from independent travelers. Bangkok, Phuket, and Chiang Mai were the top destinations in Thailand. According to Chinese analysts third and fourth tier cities in China will see significant outbound tourism and the number of travelers from six smaller Chinese cities more than tripled during this year's Golden Week holiday. Chinese tourists showed interest in more than just shopping, bookings to museums online doubled from the previous year according to Ctrip. Overall, tourism in Thailand is expected to rise 3 percent year on year in the fourth quarter with an increase in Russian visitors and rising numbers of Chinese returning to the country. In total, 37.99 million visitors are expected for 2018, up 6.7 percent from 2017. Earnings from tourism are expected to grow by 9.2 percent to 2 trillion baht.

Condo prices in Bangkok, Nonthaburi, and Samut Prakan grew in the third quarter, showing an 11 percent year on year jump and 2.8 percent growth from the previous quarter based on the expansion of electric train lines. Bangkok prices grew 11.7 percent, while prices in Nonthaburi and Samut Prakan grew 8 percent while along certain lines prices soared. Along the Airport Rail Link prices grew 35.7 percent year on year, Pathumwan 34.9 percent, Bang Sue and Dusit districts prices grew 33.5 percent, and Huay Khwang, Chatuchak, and Din Daeng districts prices jumped 30.8 percent year on year. Prices along Sukhumvit also grew, but more slowly, with Khlong Toey and Wathana districts seeing a 16.7 percent year on year rise. Prices of new houses also grew in Bangkok, 4.1 percent year on year and 5 percent in Nonthaburi, Samut Prakan, and Pathum Thani. The city hopes to increase density with new zoning laws that will take effect next year, with high density zoning laws to be applied along the Orange line from the Thailand Cultural Centre to Bang Kapi and Min Buri and Northern Bangkok to also see drastic changes in density zoning along the new lines from Mor Chit-Saphan Mai-Khu Khot, the Yellow Line (Lat Phrao-Samrong), the Brown Line (Khae Rai-Lam Salee) and the Pink Line (Khae Rai-Min Buri).

The Board of Investment (BOI) reported that the total value of investment promotion applications submitted to the BOI in the first half of 2018 was more than 285 billion baht; close to that of the previous year. The Eastern Economic Corridor (EEC) topped the list with investments valued at 180 billion baht, or 64 percent of the total investment promotion applications. The BOI has set this year's investment promotion application target at 720 billion baht and has issued various measures to attract more investors, such as offering privileges to projects in the EEC and organizing productivity improvement projects.

Business News

Oct 14 2018 >> Thailand tops list for Chinese tourists during Golden Week
Oct 7 2018 >> Digital assets licensing expected later this year
Sep 30 2018 >> Newsletter listings for October 1, 2018
Sep 30 2018 >> Applications for Permanent Residency now open
Sep 22 2018 >> Exporters urged to take advantage of AFTA tax incentives
Sep 16 2018 >> Thailand tops list as most popular destination for Chinese tourists in first six months
Sep 9 2018 >> Thailand "Best for People" in Conde Nast Travellers UK Readers awards
Sep 2 2018 >> Thailand fourth in tourist spending globally
Aug 25 2018 >> Young Chinese travelers seek authentic local experiences
Aug 19 2018 >> MICE visitors from China jump 35 percent
Aug 12 2018 >> New Copyright Law allows for removal of online infringment
Aug 5 2018 >> Secondary tourism destinations see strong growth from international tourists
Aug 5 2018 >> Secondary tourism destinations see strong growth from international tourists
Jul 29 2018 >> Important news for Americans on the impact of the new Emergency Decree and Work Permit requirements
Jul 22 2018 >> International tourist arrivals hit 19.48 million in first six months of 2018
Jul 15 2018 >> Thailand in top 20 nations with high innovation development potential
Jul 8 2018 >> New regulations issued regarding work permits
Jul 1 2018 >> Phuket in top ten leisure destinations in Mastercard Global Destinations Index report
Jun 24 2018 >> Commerce Ministry looks to remove five services from Foreign Business Act restricted list
Jun 17 2018 >> New business registrations up 5 percent in May
Jun 10 2018 >> New regulations for digital asset exchanges issued
Jun 3 2018 >> Ministry of Labour considers removing some occupations from restricted list
May 27 2018 >> Second airports approved for Chiang Mai, Phuket
May 20 2018 >> New business registrations reach ten year high in April
May 13 2018 >> New BOI promotion incentives added for EEC
May 6 2018 >> Cabinet retroactively extends tax incentives for juristic persons registration
Apr 28 2018 >> Value of exports hit record high in March
Apr 22 2018 >> Domestic and foreign tourism numbers up for Songkran
Apr 15 2018 >> World Bank raises GDP forecast to 4.1 percent
Apr 7 2018 >> Foreign arrivals, domestic tourism expected to grow this Songkran holiday period
Mar 30 2018 >> New banknotes and coins to be issued April 6
Mar 24 2018 >> Thailand receives 7.1 million foreign visitors in January and February
Mar 18 2018 >> Jump in tourists expected for Songkran holiday
Mar 10 2018 >> Thai government will develop West Coast for high-end tourism
Mar 3 2018 >> New rules for landlords with 5 or more properties
Feb 24 2018 >> Tourism revenues grew over 10 percent in January
Feb 18 2018 >> Thailand is the Least Miserable Economy in the world
Feb 11 2018 >> Bangkok voted Best Destination City in Asia Pacific
Feb 3 2018 >> Thailand first in top countries to do business
Jan 26 2018 >> New business registrations reach 5 year high in 2017
Jan 20 2018 >> Applications for new 4 Year Smart Visa begin on February 1
Jan 14 2018 >> Thailand expects 400,000 Chinese tourists during Chinese New Year
Jan 6 2018 >> Consumer Confidence Index at 35 month high
Dec 30 2017 >> New 4 year professional Smart Visa expected to take effect this month
Dec 23 2017 >> Business registrations jump, exports reach 6 year high
Dec 17 2017 >> Applications for BOI priviliges in EEC rise
Dec 9 2017 >> E-commerce tax to be enforced for overseas companies
Dec 2 2017 >> New Minister of Tourism and Sports to focus on local communities
Nov 25 2017 >> BOI applications up, BOI privileges extended for the EEC
Nov 19 2017 >> Construction of first leg of high speed rail to Nong Khai expected to start next month

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