Thai consumer spending in foreign currencies increases 200%

2 Oct 09:47 Key points summarised by AI

Thai consumer spending in foreign currencies surged 200% year-on-year in Q2, according to Youtrip data.
The majority of this spending was directed towards popular e-commerce platforms and home entertainment, including games and video streaming.
Home entertainment and gaming saw the highest growth, exceeding 400%, largely due to increased remote work during the latest COVID-19 wave.
Spending also rose for luxury brands, beauty products, and international tuition fees, particularly for the UK, reflecting continued demand for foreign goods despite travel restrictions.

Nationwide crackdown launched on illegal nominee shareholders and land holdings

Today 15:20 Key points summarised by AI

Thailand's Prime Minister Anutin Charnvirakul initiated a nationwide crackdown on illegal Thai nominee shareholders in foreign-run businesses and land holdings to safeguard national interests.
The government will integrate efforts across all relevant agencies to target illicit foreign operations, forced sales of illegally acquired property, and high-risk land ownership schemes.
Key strategies include auditing suspect land and building holdings, establishing a long-term monitoring system, and cross-referencing data from various authorities to trace ultimate beneficial owners.
Prime Minister Anutin emphasized that no influential figures or corrupt officials are above the law, promising straightforward prosecution, asset seizures, and protection for enforcing officers.
Beyond land ownership, the integrated crackdown will also extend to tackle transnational crimes, including drug and human trafficking.