Thai Times

Covering the Thai Renaissance

Thailand's E-commerce Boom, Banking Stability, and Diplomatic Highlights Amidst Global Innovations

Thailand's e-commerce market is projected to reach 1.6 trillion baht by 2027, driven by platform competition and innovative strategies, while Thailand's banking system remains robust despite challenges in domestic tourism.
In exciting economic news, Thailand's e-commerce market is set to transform dramatically, with projections reaching 1.6 trillion baht by 2027, driven by fierce competition among platforms like Shopee, Lazada, and new player Temu, along with a shift towards innovative video commerce and consumer engagement strategies.

Despite this digital surge, Thailand's banking system remains steady, as the Bank of Thailand reports strong capital and liquidity in Q3 2024, although noting a slight contraction in loan growth due to high debt repayments.

These economic dynamics, however, pose challenges for domestic tourism, which faces hurdles from increasing consumer loans and mortgage defaults, raising concerns that traditional promotions may fall short of boosting demand.

Celebrating brighter aspects, Thailand and Iran are marking 70 years of diplomatic relations with a commemorative event honoring Sheikh Ahmad Qomi, strengthening the cultural ties that bind the two nations.

Speaking of diplomacy, Malaysian Ambassador Jojie Samuel received a unique farewell in Bangkok with a colorful tuk-tuk procession, highlighting his efforts in fostering closer Malaysia-Thailand relations.

Lastly, on the global stage, researchers have unveiled a significant breakthrough with the development of a biodegradable "supramolecular" plastic, offering hope in combating ocean pollution and reducing the environmental impact of traditional plastics.
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