The Stock Exchange of Thailand (SET) Index rose by 3.54 points or 0.22 per cent to 1,642.95 on Monday morning, witnessing a high of 1,645.72 and a low of 1,642.07 in opening trade.
Krungsri Securities predicted the day’s index would fluctuate between 1,630 and 1,650 points despite rising oil price in response to tightening supply and hope over Thailand reopening after domestic Covid-19 cases have declined.
The brokerage firm, meanwhile, said uncertainty over the US Federal Reserve signalling it would taper its quantitative easing and fund flow volatility would pressure the index.
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It also recommended buying of the following companies’ shares as an investment strategy:
▪︎ PTT, PTTEP, TOP, PTTGC, SPRC, BCP and IVL, which benefit from rising oil price
▪︎ AOT, KBANK, SCB, CPN, CRC, HMPRO, AAV, BA, MINT, AMATA, WHA and MAJOR, which benefit from the country reopening.
The SET Index closed at 1,639.41 on Friday, up 5.69 points or 0.35 per cent. Transactions totalled 92.93 billion baht with an index high of 1,644.16 and a low of 1,635.77.
The price of gold dropped by THB50 in morning trade on Monday, the Gold Traders Association reported.
Areport at 9.23am said the buying price of a gold bar was THB28,050 per baht weight and selling price THB28,150, while the buying and selling price of gold ornaments is THB27,545.72 and THB28,650, respectively.
At close on Saturday, the buying price of a gold bar was THB28,100 per baht weight and selling price THB28,200, while gold ornaments were THB27,591.20and THB28,700, respectively.
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The spot gold price on Monday morning hovered around US$1,760 (THB59,505) per ounce after Comex gold at close on Friday dropped by $1.8 to $1,757.4 per ounce due to pressure from the rise in the US government bond yields, although the numbers of US non-farm payrolls in September came out much lower than expected.
Treasury Secretary Janet Yellen said she is confident that Congress will include provisions for a global minimum tax on corporate profits in reconciliation legislation, days after the United States and 135 other nations endorsed the levy to combat tax-cutting.
Each country that signed the deal must pass legislation to enact the measure, which is aimed at limiting corporations’ ability to lower their tax bills by shifting profits to the lowest-tax jurisdictions globally.
“I am confident that what we need to do to come into compliance with the minimum tax will be included in a reconciliation package. I hope that it will be passed and we will be able to reassure the world that the United States will do its part,” Yellen told ABC News’s “This Week” program.
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Congressional Democrats are currently hammering out a so-called reconciliation bill that would substantially raise federal spending on social safety-net programs and on fighting climate change.
Low-tax nations, including Ireland and Hungary, that had long resisted the minimum-tax deal finally endorsed it last week, bringing it closer to fruition after six years of global diplomatic bargaining. All members of the Group of 20 nations and the Organization for Economic Cooperation and Development (OECD) have signed on.
The rule requires countries to set a minimum tax of 15 percent on the profits of companies with annual revenue above 750 million euros.
The OECD, which led discussions on the deal, said it would allow countries to collect around $150 billion in new revenue annually.
A recent report found that corporations are shifting $1.38 trillion worth of profit each year into havens that charge little to no tax, causing the governments where that profit is actually earned to miss out on $245 billion in annual revenue.
Yellen said the deal would curb the global “race to the bottom” through which countries have cut their tax rates ever lower to attract businesses to set up headquarters and hire workers.
The tax-cutting spree has deprived many countries of the “resources we need to invest in our people and our economies,” she said. The deal “is really something we need to make globalization work and to make it work for American workers,” Yellen added.
Some critics said the agreement, which updates the 3,000-odd bilateral treaties that regulate global taxation, doesn’t do enough for the world’s poorest countries.
The 15 percent rate is too low and “will neither curb profit shifting effectively, nor provide substantial revenues to more than a handful of OECD member countries,” Alex Cobham, chief executive at the nonprofit Tax Justice Network, said in an emailed statement. “Everyone else has been left out – especially lower-income countries which lose the greatest share of their current tax revenues to corporate tax abuse.”
Thailand has achieved the lowest multidimensional poverty score in ASEAN
Bangkok, 11 October 2021 – 70 countries revealed significant reduction in multiple dimensions of poverty and Thailand has the lowest multidimensional poverty level in ASEAN, yet existing systemic vulnerabilities are exposed by COVID-19, according to UNDP’s new analysis.
The Multidimensional Poverty Index (MPI), released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI), is a measure that looks beyond income to include 10 indicators that capture the education, health, and standard of living dimensions, where a lower score implies a lower poverty ranking.
The 2021 MPI covers 109 developing countries, which are home to 5.9 billion people. The report shows that 70 countries studied, covering roughly 5 billion people, experienced a statistically significant reduction in their multidimensional poverty levels at least one period during the two decades before the COVID-19.
According to the report, Thailand’s multidimensional poverty index is 0.002, the lowest among the Association of Southeast Asian Nations (ASEAN) countries that are included in the study, such as Myanmar (0.176), Cambodia (0.170), Lao People’s Democratic Republic (0.108), Philippines (0.024), Viet Nam (0.019), and Indonesia (0.014). Thailand’s score is also lower than that of the East Asia and the Pacific (0.023) region. Nevertheless,1.3 billion people—about 92 percent of the population in developing countries—remain multidimensionally poor.
COVID-19 and multidimensional poverty around the world
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While complete data on COVID-19’s impacts on the MPI are not yet available, the pandemic has exposed cracks in social protections systems, education, and workers’ vulnerability around the world. These cracks, the report shows, are deepest in countries with higher levels of multidimensional poverty.
The severity of the COVID-19 crisis in the world’s poorest countries has been underestimated because limited direct mortality has kept them outside the international spotlight. Analysis shows that people in the poorest countries are being impacted in far reaching ways with consequences that remain to be seen. “The COVID-19 pandemic has eroded development progress around the world, and we are still grappling to understand its full impacts,” says Achim Steiner, UNDP Administrator. “This year’s Multidimensional Poverty Index (MPI) reminds us of the need for a complete picture of how people are being affected by poverty, who they are and where they live, if we are to build forward better from this crisis and design effective responses that leave no one behind.”
This year’s report shines light on how poverty is exacerbated by existing inequalities, for example, across ethnic groups and among women. Analyses of multidimensional poverty and ethnicity are vital. Disparities across ethnic and racial groups should be prioritized by policy makers to achieve fair inclusive development post COVID-19.
Thailand’s MPI had improved before COVID-19. The current MPI score of 0.002 is based on the 2019 survey, while in 2015/2016 and 2012, the index was 0.003 and 0.005 respectively. From the latest survey, 176 thousand people moved out of poverty because of better access to basic infrastructure such as sanitation, drinking water, electricity, and housing. Nevertheless, access to education, especially years of schooling, as well as access to nutrition remain major sources of deprivation. These aspects require particular attention, as the pandemic has hit the most vulnerable population the hardest.
Adopting a multidimensional approach to poverty analysis highlights the importance of looking at poverty beyond income. Thailand’s incidence of multidimensional poverty is 0.5 percentage points higher than the incidence of monetary poverty, implying that individuals, despite living above the monetary poverty line, may still suffer deprivations in health, education and/or standard of living.
Addressing multidimensional poverty is challenging, as the pathway to ending such poverty is not always linear and the changes in different dimensions vary across periods. There is no one-size-fits-all approach. Mixtures of approaches, beyond those for improving income, must be explored and implemented to ensure fair and inclusive development. Further, detailed antipoverty policies and actionable guide have to be more targeted to address differences in intensity and composition of the poverty. This is the time for reshaping policies and rethinking development pathways for a fair, equitable recovery post COVID-19.
Drawing on technology, nature-based approaches, and markets, UNDP-supported adaptation project to bolster livelihoods and the Thai economy, contributing towards COVID-19 recovery
Songdo, 8 October 2021 – Ahead of the international climate conference COP26 next month, the global Green Climate Fund has today approved a new US$17.5 million grant towards building the climate change resilience of farmers in Thailand. Approximately 62,000 people living in three of the country’s vulnerable northern provinces are set to directly benefit.
“We appreciate the support of the Green Climate Fund in bringing this innovative new project to life,” said Director-General of Royal Irrigation Department, Mr. Praphit Chanma. “Led by the Royal Irrigation Department under the Ministry of Agriculture and Cooperatives, with support from the United Nations Development Programme (UNDP), it will bring technology, ecosystem-based approaches, and markets to bear on helping farmers and the economy to abstain from climate catastrophe. With increasingly volatile climate conditions ahead, this project is highly appropriate. As a result, about 62,000 people in the Yom and Nan river basins will benefit directly, while more than 25 million Thais across the Greater Chao Phraya River Basin will ultimately stand to benefit.”
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While Thailand has made remarkable progress in social and economic development over the last four decades, rising temperatures and more frequent and extreme droughts and floods driven by climate change pose an increasing threat to the country’s economy. In this context, COVID-19 has presented another set of immediate challenges, with Thailand experiencing one of the steepest contractions among ASEAN member states, including a contraction in agricultural employment of 10.9 percent.
Water management and sustainable agriculture has emerged as a leading concern. The new project will help build the resilience of farmers in in the Yom and Nan river basins in Sukhothai, Phitsanulok and Uttaradit provinces through improved climate information and forecasts, the introduction of more climate-resilient agricultural practices, and expanded access to markets and finance.
At the same time, it will work with subnational and national agencies to improve risk-informed planning and decision-making, promote cross-sectoral coordination, and upgrade critical infrastructure such as irrigation canals and floodgates.
With the Green Climate Fund grant met with $16.2 million co-finance from the Royal Thai Government, a private sector partner Krungsri Bank will also contribute more than $113,000 towards financial literacy training for farmers. The Bank for Agriculture and Agricultural Cooperatives has also pledged a line of credit of $16 million to help farmers invest in adaptation measures.
Other key implementation partners include the German development agency GIZ and King Mongkut’s University of Technology North Bangkok, with respective expertise in ecosystems-based water management and agricultural modeling as well as dissemination and expanding access to climate information to the public, in particular to agricultural households.
“UNDP has been working closely with the Thai Government on climate change preparedness for a number of years, including building capacity to secure global finance for climate action, and efforts to integrate agriculture into national adaptation planning,” said Renaud Meyer, Resident Representative of UNDP in Thailand.
“We are pleased to support this transformational new project which will contribute across the Sustainable Development Goals – including reducing poverty and hunger, accelerate climate action, advancing decent work and economic growth – while also helping the government realise its Nationally Determined Contribution under the global Paris Agreement. The current heavy flooding, impacting more than 30 provinces across Thailand and 200,000 households and their livelihoods, underlines the urgency of climate action and identifying long-term solutions to increase the resilience of communities and farmers.”
Implementation is expected to begin in March 2022. For more information, please visit the project page here.
WASHINGTON – At one point during a private 90-minute Zoom call with liberal lawmakers on Monday, Rep. Ro Khanna, D-Calif., asked President Joe Biden why he had not simply locked Sens. Joe Manchin, D-W.Va., and Bernie Sanders, I-Vt., in a room and forced them to cut a deal on the Democrats economic package.
Smiling back at Khanna, Biden said, “Ro, that would be like asking for a homicide,” according to two people on the call who spoke on the condition of anonymity to describe the private exchange.
Biden’s joking response underlined a serious fact: He faces daunting difficulties in the coming weeks now that the recent dramas over his economic plans have left him just a few weeks to salvage his agenda, right his presidency and tackle problems that in some cases were years in the making.
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Democrats are pushing to pass his infrastructure bill by month’s end, following recent setbacks on the Hill, along with a broad safety net package. The two bills include major climate provisions that Biden wants to tout at a global climate summit next month, and Democrats also want something to show Virginia’s voters before their Nov. 2 vote for governor.
“If we don’t pass one of those before the gubernatorial election, it’s a huge, huge mistake,” said Sen. Mark Warner, D-Va., referring to the infrastructure bill and a separate measure to boost U.S. science and research, both of which have passed the Senate but not the House. “We’ve got two major wins – two major bipartisan wins. . . . Let’s get at least one if not both of those wins for the president on the board.”
A recent deal with Senate Republicans, meanwhile, staved off a disastrous government default until December, but at the cost of ensuring that a politically explosive debt-limit fight will unfold as the White House is struggling to push through the other bills.
This upcoming stretch may be Biden’s last chance to revive a presidency that has suffered major blows in recent months. Since being rocked by the Afghan withdrawal and the surging delta variant over the summer, Biden’s approval rating has fallen steadily, hitting a low of 38% in the latest Quinnipiac poll. Some of the campaign pledges that inspired Biden’s supporters, from voting rights to immigration reform, have fallen by the wayside. A jobs report on Friday suggested the economy has been slowed down by the delta variant.
Beyond that, the coming weeks will tell whether Biden’s central message – that America’s democratic system can still tackle big problems – will hold true. Even if the president cannot push through his major goals by month’s end, he faces enormous pressure to show at least some progress, with White House aides looking at the months leading up to Christmas as a crucial window.
To make that happen, Biden is gambling on the freewheeling negotiating style reflected in his crack about Sanders and Manchin, which was first reported by CNN. His style features banter and light teasing between the president and members of Congress he has in many cases known for decades, coupled with attempts to lay out priorities and nudge lawmakers toward compromise.
If he does succeed, the payoff could be significant. The infrastructure bill and safety net package combined would represent the biggest federal investment in the economy in decades, and polls suggest they are popular. Terry McAuliffe, the Democratic nominee for Virginia governor, is among those publicly pushing for the bipartisan infrastructure legislation to be quickly enacted to show that Washington can still deliver results.
“We’re going to try to move as quickly as we can,” said Senate Finance Committee Chairman Ron Wyden, D-Ore., who is overseeing major revisions to the tax code and health-care programs. “This is going to be a window when people are really going to see who’s focusing on them.”
Conversely, without action, the expanded Child Tax Credit, which has become a staple of the administration’s economic message, will abruptly cut off at the end of December, depriving millions of parents of expected payments.
Biden has become heavily involved in the discussions over how to wage these fights, and is now devoting much of his daily schedule to his legislative priorities, aides say.
The president is briefed almost every morning on the negotiations by senior aides in the Oval Office and receives multiple updates throughout the day. Louisa Terrell, who heads the White House Office of Legislative Affairs, often attends those meetings, along with National Economic Council Director Brian Deese, White House Domestic Policy Council Director Susan Rice and longtime Biden aide Steve Ricchetti, who serves as counselor to the president.
Aides say Biden’s approach is to encourage Democrats of all ideological stripes to describe what would enable them to sign onto a deal, rather than trying to coerce them into supporting the president’s blueprint.
“President [Barack] Obama’s attitude was: ‘Here’s what we think.’ Biden is a little more like, ‘What can we do? How can we meet you?'” said one administration official who has worked with Biden for years, speaking on the condition of anonymity to reflect private conversations. “It’s all about hearing where the other person is coming from.”
That approach is mirrored by the president’s top advisers. Ahead of meetings, congressional aides often plan how best to elicit approval from White House officials on a particular position, according to multiple people involved in the negotiations.
But the officials – including Terrell and Deese – are often scrupulously poker-faced and elusive about Biden’s personal convictions, as well as their own beliefs, on issues that divide Democrats, the people said, often to the frustration of people on Capitol Hill.
“They are really good at not showing their cards, and it leaves you with the impression they’re just trying to piece it all together,” one of the aides said.
Phil Schiliro, who served as Obama’s director of legislative affairs, said such talks can get highly emotional. “It seems very contentious from the outside – feelings can run high and it feels like it might not happen,” said Schiliro, who was involved in the high-pressure talks over the Affordable Care Act. “But if the conversations behind the scenes are happening the right way, there’s an ability to reconcile differences.”
Arguably, though, the president has little to show thus far for his strategy. Congressional Democrats have struggled for months to reach an agreement, and the possibility remains that Biden’s entire agenda could collapse amid internal sniping.
Those frustrations spilled into the open this week with an extraordinary back-and-forth between Manchin, a moderate and one of the Democrats’ key holdouts on the safety net bill, and Sanders, a democratic socialist and a leader of the party’s liberal wing.
On Wednesday, Manchin reiterated his belief that the bill should not exceed $1.5 trillion, saying he did not believe that “we should turn our society into an entitlement society.” That prompted a blistering response from Sanders, who continues to back the $3.5 trillion bill.
“Is protecting working families and cutting childhood poverty an entitlement?” Sanders asked at a news conference. After reeling off a list of similar rhetorical questions, he added, “Perhaps most importantly, does Senator Manchin not believe what the scientists are telling us, that we face an existential threat regarding climate change?”
The increasingly public warfare underscores not only the yawning financial gap Democrats must bridge in short order, but also fundamental differences about what issues to prioritize among a very long list. The bill currently includes a variety of priorites from universal pre-kindergarten care to tuition-free community college, and from new Medicare benefits to climate provisions.
Many Democrats believe they could lose the House in 2022 and not have another opportunity to enact their agenda for years, further ramping up the pressure to deliver results now.
Senate Majority Leader Chuck Schumer, D-N.Y., is pressuring fellow Democrats to agree on a framework for the safety net package in a matter of days, so it and the infrastructure bill can be passed by the end of this month. The infrastructure bill has bipartisan support, but Democrats will have to push the safety net bill through the Senate with only Democratic votes, using a complex parliamentary procedure called reconciliation.
Some Democrats are signaling they do not necessarily feel bound by party leaders’ rapid timetable.
“Obviously, this is an enormously complicated and consequential bill,” Sanders said at the news conference. “The American people are not calling my office saying, ‘You’ve got to do it by Thursday or by next Monday.’ What they are saying is, ‘Make sure that we continue to have the $300 payment for our kids. Make sure that you can expand Medicaid. Make sure you deal with climate.’ “
As they battle over the size of the legislation, Democrats are also debating how to structure the benefit programs so they fit under the final cap.
Manchin argues forcefully that Democrats should impose income limits on programs like the Child Tax Credit, so that wealthier households do not receive benefits they may not need. But if the Child Tax Credit is adjusted that way, it could violate Biden’s pledge not to raise taxes on households earning less than $400,000 per year, while adding administrative complications to a program still in its infancy.
Some liberal lawmakers, in turn, have floated the idea of funding some new programs only for a set number of years, which in theory would lower their costs. The liberals hope, however, that the programs will prove so popular that Congress would be forced to extend them later. But some centrist lawmakers are balking at that accounting strategy.
Biden’s challenge is that both wings of the Democratic Party believe they have already been forced to yield too much. Centrists complain that the president has taken the liberals’ side by tying the infrastructure package to the far more liberal safety net bill.
“If Biden thinks he’s adopted a middle course that should leave people equally happy, he has misjudged the situation,” said Bill Galston, a former domestic policy official in President Bill Clinton’s administration. “The prevailing view of the centrists is the president has tilted decisively in the other direction. There’s not a lot of joy in Mudville.”
Liberals are rankled that after they agreed to cut down the size of the safety net package significantly to $3.5 trillion, they are now being told they must reduce it much more.
“There is nothing superfluous in the agenda. Every dollar is needed to deliver millions of good-paying jobs, affordable child care and health care, and a clean energy future,” said Lindsay Owens, executive director of Groundwork Collaborative, a left-leaning group.
If Biden has one weapon in his arsenal, it’s the recognition by many Democrats that if his agenda collapses, it could be devastating for the party in the 2022 midterm elections and beyond.
Democrats above all else are trying desperately to avoid what happened with President Donald Trump’s pledge to repeal the Affordable Care Act in 2017. That effort bogged down the congressional Republican majority for months, and when then-Senate Majority Leader Mitch McConnell, R-Ky., finally brought a repeal provision to the floor for a vote, it was defeated in a major embarrassment.
Democratic pollster Celinda Lake said that passing major, substantive legislation is particularly important to two groups of voters – women who swing between the two parties and Democratic voters who often may not to turn out to vote.
“Both of those groups really want something done,” Lake said. “And the White House knows that.”
A recent survey shows that the real-estate confidence index in Bangkok and its vicinity has dropped to below average over the past 10 quarters, the Real Estate Information Centre (REIC) reported on Saturday.
The Government Housing Bank’s REIC said the confidence index of residential developers in Greater Bangkok in the third quarter of this year stood at 45.8, marking a slight drop from the previous quarter.
However, the centre said it believes confidence will improve in the next six months once the Covid-19 situation eases.
The index value for the sector has been below the median of 50 for 10 consecutive quarters since the second quarter of 2019.
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REIC acting director-general Wichai Viratakaphan said the Bank of Thailand’s loan-to-value (LTV) control measures in the second quarter of 2019, coupled with the Covid-19 pandemic were to blame for the low index.
He said these two factors had slowed down both supply and demand in the real-estate sector, adding that developers were still very concerned about the ongoing pandemic.
“However, the confidence index among developers in Greater Bangkok for the next six months has risen to 57.2. This may be due to the government’s promise to have 70 per cent of the population fully vaccinated by the end of 2021, including using the Pfizer vaccines donated by the US to provide free boosters,” Wichai said.
He added that the Centre for Economic Situation Administration (CESA) also recently proposed new measures to the Cabinet, including the expansion of the ceiling for foreign buyers. CESA proposed that foreigners be allowed to own more than 49 per cent of condominium units as well as be allowed to buy landed property.
“The confidence in real estate for the next six months has risen significantly since the government began relaxing lockdown measures and allowing some businesses like restaurants, beauty salons, massage parlours and airlines to resume business,” he concluded.
Outstanding value of bonds issued by Thai firms as of September 2021 is recorded at THB14.9 trillion, increasing 57 per cent comparing to the same period last year, the Thai Bond Market Association (ThaiBMA) revealed on Friday.
“Total value of bonds issued by Thai firms in the first three quarters amounted to THB817.5 billion,” said Ariya Diranaprakit, deputy managing director at ThaiBMA. “The top five businesses that issued the most bonds are energy (20.6 per cent), property (15.1 per cent), finance (13.6 per cent), commerce (12.8 per cent) and food (11.8 per cent).”
Ariya added that ThaiMBA also found that increasing number of sellers having been using online channels and mobile applications to sell bonds during Covid-19 lockdown to facilitate investors.
“The total buying value of foreign investors in nine months of 2021 is recorded at Bt66 billion, with total bond holding value among foreign investors as of end of third quarter recorded at Bt915.9 billion, or 6 per cent of total outstanding value of Thai bonds,” she said. “About 90 per cent of these are long term bonds with average holding period of 9.4 years”
ThaiMBA estimates that in the last quarter of 2021 the yield of long-term bond of up to 10 years will rise marginally following the trend of global market, but could still fluctuate depending on a number of economic factors that have yet to be revealed.
Limited-Time Deals & The Chance to Access Extraordinary Experiences in Incredible Destinations Inspire Members to Rediscover the Wonder of Travel
Marriott Bonvoy – Marriott International’s award-winning travel program – is reigniting wanderlust by introducing its second annual members’ week, Week of Wonders, featuring exceptional travel offers available exclusively for Marriott Bonvoy members.
From October 7 to October 14, members will have access to a variety of Wonders centered on themes including escape, delight, adventure, comfort, luxury, discovery and more. These offers will be available across Marriott Bonvoy’s extensive portfolio of extraordinary brands in Asia Pacific. Members can participate in multiple offers, providing more opportunities for them to take advantage of everything in the Marriott Bonvoy travel program – whether that’s hotel stays, bonus points, redemption offer, or member’ discount. The promotions are available to all members – even those who enroll during the window of the promotion.
As well as giving members the chance to accelerate the number of points they can earn, Week of Wonders provides them with the chance to truly reward themselves. Members can take advantage of exclusive deals on stays at luxury hotel properties and also enjoy retail opportunities with Marriott Bonvoy’s online store, Marriott Bonvoy Boutiques.
“We’re excited to show appreciation for our loyal members through Week of Wonders, allowing travelers to reignite their spirit of discovery and unlock the power of travel with Marriott Bonvoy,” said David Flueck, Senior Vice President, Marriott Bonvoy. “With these rich offers, members have more reasons to plan and book their long-awaited dream vacation, cross off bucket-list items with terrific experiences, or reward themselves with some much-needed luxury.”
Members can explore through Marriott Bonvoy’s expansive portfolio of hotels with 25% off at participating hotels across Asia Pacific (excluding Greater China).
Marriott Bonvoy Credit Card holders can register from October 7 through October 14, 2021 and earn 2,000 points after booking and completing an eligible stay at hotels participating in Marriott Bonvoy by November 21, 2021. The stay must include one paid night. Terms apply.
Travelers eager to discover new places, cultures, and people near and far can book their next hotel redemption stay for up to 33% fewer points during Week of Wonders.
During Week of Wonders, members will receive a 50% bonus and Elite members a 55% bonus on purchases of 2,000 or more points – making it easier and quicker for them to get to that next dream vacation.
Members seeking to elevate their travel experiences can do so in style by booking the Week of Wonders Escape to Luxury offer. As part of this offer, guests booking a 2+ night stay will receive up to $300 in folio credit to be used on a variety of amenities during their stay at some of the most magnificent luxury hotels within the EDITION, St. Regis Hotels & Resorts and The Ritz-Carlton portfolios.
Members can enjoy 20% off when they shop at Marriott Bonvoy’s online store Marriott Bonvoy Boutiques, making every day feel like a vacation. From the iconic Westin Heavenly® Bed, to the EDITION signature scent, to sumptuous bathrobes from The Ritz-Carlton, travelers can experience the joy of good travel from the comfort of their homes.
Members seeking adventure can earn 1,500 bonus points on each stay now through December 21, 2021 when they register here for the global promotion, which will continue to run during Week of Wonders.
Tourism Council of Thailand collaborates with IsWhere on digital marketing platform open for all Thai businesses.
The Tourism Council of Thailand (“TCT”) President Chamnan Srisawat recently signed a Memorandum of Understanding with Singapore based IsWhere for use of IsWhere’s digital marketing platform for all its members to easily reach both domestic and international travelers and speed up travel recovery.
The Thai Government has announced the reopening of certain provinces to tourism over the next quarter and although there is a huge pent-up desire to travel, travelers are wary of committing to a destination not knowing how safe the Covid-19 situation is, and what services are open and available upon arrival. IsWhere digital marketing platform allows all Government Authorities, travel merchants and any other retail merchants to register their locations completely FREE informing tourists of the updated COVID safety situation in their shops and that they are open for business. The updated COVID and travel information on the IsWhere platform will provide comfort to potential travelers and increase the likelihood of them booking and traveling to Thai destinations.
TCT President Srisawat stated “This COVID-19 crisis has affected all business groups across the country. Tourism is a vital economic sector for Thailand and a speedy recovery is imperative to help members and the local community recover quickly. TCT recognizes the importance of enhancing the capacity of the holistic tourism industry under the Travel Recovery Project and by partnering with IsWhere digital marketing platform technology, TCT members can instantly promote their services. Members can make their own marketing content and invite customers to visit their shop via online”. President Srisawat is encouraging all TCT members to sign up and register for free on IsWhere.com and start promoting their business. IsWhere will not charge members for GP fees or OTA commissions from sales revenue, “No GP, No OTA” he exclaimed.
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Phuket Tourism a member of TCT, which reopened under the Government Sandbox scheme on 1st July, is seeing a steady climb in inbound numbers and the Association is encouraging all its members to now register on IsWhere.com platform and begin marketing promotions for the upcoming high season to increase advance online bookings.
Likewise, TCT member – Thai Medical and Wellness Tourism Association, who’s members shops have been particularly severely hit by the COVID-19 business closure, are informing all its members about IsWhere digital marketing platform and President K. Prapa Wongphet stated “better online promotion of medical and wellness tourism services and COVID-19 safety measures offered by our members facilities will give confidence for travelers to stay longer and enjoy Thai hospitality as well as receiving medical treatments for health or beauty.”
Registration on the digital marketing platform is FREE for all Tourism Council members, who are also eligible for a special fifty percent discounts in October, on digital promotions using IsWhere platform. Merchants from all travel and retail sectors – hotel, restaurants, Spa, wellness & medical, shopping etc., can run and manage their own unlimited online digital campaigns and advertise special deals and services for tourists from as low as Baht 1,500 per month per location, significantly lower than normal pay per click online ads and the high percentage OTA’s fees charged for bookings.
IsWhere has formed relationships with Huawei to reach its 600 million digital customers across the globe, and consumer digital marketing channels in Singapore and Taiwan where Thailand is a favorite travel destination search. Huawei also provides IsWhere multi-lingual capability, technology, and connectivity enhancements for international travelers.
Terence Mak, CEO/Founder of IsWhere said “Thailand is a global top tourist destination with lots to see and do for both foreign and local travelers. IsWhere is the only platform where Thai people across the country can find information and promotions for all types of businesses such as hotels, restaurants, food and beverage outlets, shopping, Health spa and massage shops and tourist attractions plus more than 42,000 Thai Buddhist temples across the country – including making online donations. The TCT deal is very timely as Thailand reopens and competes with many other countries to capture cautious travelers. IsWhere platform will allow travel merchants to digitally advertise and connect to both local and global travelers letting them know all is open, safe, and welcoming them to “rediscover Thailand’s beautiful destinations again”.
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