Several trends could affect businesses and investors next year, including the enforcement of Thailand’s first standard for sustainable aviation fuel from Jan 1, creating a new benchmark for green fuel use in the aviation industry.
In the world of digital assets, pundits expect a decisive shift from speculation towards real-world adoption in 2026. Meanwhile, gold prices are expected to moderate next year, though continue on an upward path.
Gas prices should remain a dominant factor in determining power bills in 2026, resulting in cheaper electricity prices for households and businesses.
Narumon Kasemsuk
After a dramatic decline this year, Thai tourism may face an uphill battle to recover in 2026 as the same challenges are expected to persist.
In a bid to restore confidence in a sector hobbled by safety concerns, including grey businesses using Thailand as a transit hub, natural disasters and border disputes, the Tourism Authority of Thailand (TAT) is under pressure to address negative perceptions.
The main challenge is addressing the root causes of these concerns.
The agency plans to kick off 2026 by leveraging the global fame of Thai pop star Lalisa Manoban, recently appointed as the “Amazing Thailand Ambassador”, to promote tourism in the country.
In addition, the concept of “New Thailand” will be introduced alongside the existing campaign dubbed “Healing is the New Luxury”, aiming to encourage travellers to seek meaningful journeys through more valuable products and experiences.
TAT governor Thapanee Kiat- phaibool said the agency recognises the intense competition among Asian nations to attract tourists from the same target markets.
Rather than relying on price-driven strategies, the TAT intends to raise expectations by prioritising value over volume, she said.
“We are in the process of finalising the main concept of ‘New Thailand’ to showcase to international markets next year,” said Ms Thapanee. “In 2026, we will launch an exciting promotional project featuring Lisa. Marketing materials, including TV commercials, have been completed and await the official launch at the end of January.”
As of Dec 21, foreign tourist arrivals have contracted by 7.25% this year, mirroring a decline in the second half of the year.
When comparing monthly arrivals with the corresponding period in 2024, only January recorded growth, thanks to strong long-haul markets during the high season, before the Chinese actor Wang Xing was abducted from Thailand to Myanmar and became a viral story.
Suchit Leesa-nguansuk
Thailand can become a trusted, sustainable digital hub for Southeast Asia by investing in renewable energy and leveraging its geopolitical neutrality, regulatory stability and green credentials to position itself as a secure destination for sovereign cloud and advanced digital services, says consulting firm Deloitte.
According to a Deloitte study, Southeast Asia’s total data centre capacity is expected to more than quadruple, from 1.68 gigawatts in 2024 to 7.59GW in the long term.
Thailand has a committed long-term supply of 619 megawatts, with 111MW operational and another 61MW set to come online by 2028.
Based on committed capacity, Thailand ranks as the region’s fifth-largest data centre hub, trailing Singapore (3,221MW), Malaysia (2,782MW), Indonesia (1,519MW) and Vietnam (642MW).
“Thailand is at an inflection point for accelerating AI [artificial intelligence] adoption, rising cloud demand, and semiconductor momentum creating a multi-billion-dollar opportunity for the country to become a regional digital hub, especially for northern Southeast Asia,” Piyush Jain, technology, media and telecom industry strategy, risk and transactions leader at Deloitte Southeast Asia, told the Bangkok Post.
The country has strong local demand, with rapid AI use across enterprise automation, manufacturing, logistics and smart cities creating an immediate need for onshore graphics processing unit capacity and low latency inference services.
Thailand can capture both domestic workloads and a growing share of regional traffic, he said.
As Southeast Asian markets differentiate — Singapore on connectivity, Malaysia on cost, Taiwan and South Korea on chipmaking — Thailand can carve its niche with AI-ready infrastructure, sovereign cloud zones, and compliance-driven services for regional demand, according to Deloitte.
Tighter data regulations and shifting geopolitics are making sovereign cloud and certified data zones increasingly attractive.
Thailand can capitalise on this by offering compliant, audited cloud services for finance, healthcare and the public sector, Mr Jain said.
With rising demand for data localisation and regulatory alignment, sovereign cloud tailored to government and regulated industries is a strategic opportunity, he said.
“Thailand’s regulatory stability and strategic location give it an edge. With strong sustainability and compliance, it can secure a solid niche in Southeast Asia’s booming AI and data centre market,” said Mr Jain.
However, he warned that Thailand must embed sustainability in its digital growth to stay competitive and avoid others’ mistakes.
Data centres and AI clusters consume vast amounts of energy and water. AI workloads use up to 10 times more power than standard cloud apps. Without careful planning, rapid expansion could strain the grid, raise emissions, and worsen water stress in the Eastern Economic Corridor, Mr Jain said.
Electricity demand for data centres worldwide is projected to grow by 16% in 2025 and to double by 2030, according to Gartner Inc, a business and technology insights company.
Gartner analysts estimate worldwide data centre power consumption will rise from 448 terawatt-hours (TWh) in 2025 to 980TWh by 2030.
“While conventional servers and supporting infrastructure contribute to data centre electricity consumption, the rapid rise of AI-optimised servers is fuelling the increase in power consumption,” said Linglan Wang, research director at Gartner.
“Their electricity usage is set to rise nearly fivefold, from 93TWh in 2025 to 432TWh in 2030.”
Thailand’s data centre service business is expected to post 14.2 billion baht in revenue in 2026, rising 9% from an estimated 13.1 billion in 2025, according to Kasikorn Research Center (K-Research).
The market is mainly driven by demand in financial, wholesale retail and healthcare sectors, said K-Research.
On Dec 11 of this year, the Board of Investment approved 11 data centre projects worth 188 billion baht.
Nuntawun Polkuamdee
Digital asset pundits expect 2026 to mark a decisive shift from speculation towards real-world adoption, with stablecoins, tokenised assets and new digital finance models emerging as the core drivers of growth.
Traders insist the sector is entering a more mature phase, shaped by regulatory clarity, institutional participation and deeper integration with the traditional financial system.
“2025 has been a year of structural transition for the crypto market, evolving from being largely driven by speculation to increasing support from clearer rules, stronger participants and more robust technology,” said Panuwit Taiyanon, senior investment consultant at digital asset advisory Merkle Capital.
Institutional investors and capital market-linked investment products have played a critical role in stabilising the market, shifting investor focus to fundamentals rather than short-term price volatility.
One of the most significant developments this year was regulatory progress, particularly around stablecoins, which are increasingly viewed not just as crypto assets, but as essential financial infrastructure, he said.
“Stablecoins now serve as a critical bridge between traditional finance and digital assets, improving cross-border payments, on-chain settlement and capital efficiency. This foundation is vital for the long-term expansion of the digital asset ecosystem,” Mr Panuwit said.
Technology is another key pillar, with major upgrades to core blockchain networks, especially Ethereum, improving transaction capacity, reducing costs and supporting rapid growth. These improvements are accelerating Web3 development and expanding real-world use cases across finance and digital services, he said.
Looking ahead to 2026, liquidity is expected to be the main catalyst for the next phase of market growth.
“As global monetary policy gradually eases, capital conditions are becoming more supportive. Traditional financial institutions are expanding their presence on-chain, particularly through the tokenisation of conventional assets such as government bonds and money market funds,” said Mr Panuwit.
This shift is expected to unlock new efficiencies in capital management and attract significant inflows from traditional finance into digital markets, he noted.
Mr Panuwit said the next phase of the crypto market will not be characterised by broad-based rallies across all tokens.
Instead, he said it will be an era of selective growth, where investors prioritise projects with clear real-world use cases, sustainable business models and alignment with evolving global regulations.
Nirun Fuwattananukul, chief executive of Binance TH by Gulf Binance, echoed this view, calling 2026 a transition towards real-world utility.
“Digital assets are moving beyond being purely investment concepts and are increasingly embedded in everyday economic activity,” said Mr Nirun.
He highlighted three major drivers: regulatory advancement in Thailand that enables greater institutional participation; deeper integration between traditional finance and blockchain; and the expansion of stablecoins alongside tokenisation.
From a policy perspective, Nares Laopannarai, president of the Thai Digital Asset Association, called on the government to position Thailand among the world’s top 10 digital asset markets.
“Clearer regulations could support crypto tourism and attract foreign investors, while strengthening Thailand’s potential to become a regional hub,” he said.
Regulatory momentum is already visible. The Securities and Exchange Commission approved the Tourist DigiPay sandbox project, allowing foreign tourists to use cryptocurrencies for payments under strict anti-money laundering controls.
The 18-month pilot project starting in November 2025 allows wallet top-ups of up to 500,000 baht per month per account.
Market analysts estimate 5% of tourists may participate, generating crypto-based spending of roughly 66 billion baht during the project.
Analysts agree 2026 will be defined less by hype and more by utility, infrastructure and sustainable growth, positioning digital assets as an increasingly integral part of the global financial system.
Nareerat Wiriyapong
Gold prices, which skyrocketed by about 70% this year due partly to speculation, are expected to ease in 2026 but continue an upward trend, backed by intensified geopolitical conflicts and strong central bank buying, say traders.
Jitti Tangsithpakdi, president of Thailand’s Gold Trader Association, said he expects bullion to notch a fresh all-time high in the first quarter of 2026 before hitting US$4,700-4,900 an ounce later in the year.
Domestic prices could potentially surpass 70,000 baht per baht-weight next year if the baht is not “too strong”, he said.
Prices of gold, traditionally seen as a safe-haven asset, reached a new record high of $4,525 earlier this week amid a combination of global uncertainties, including US-China trade tensions, a weakening US dollar, and continued purchases from global central banks to diversify their reserves.
“The gold price soared by only about 8-9% 40 years earlier before it increased by nearly 30% last year. For the year-to-date, gold jumped by roughly 70%, and in October alone, it leaped 70%,” said Mr Jitti.
“This was unprecedented, unusual and too much of an increase, due mainly to speculation.”
According to Thanarat Pasawongse, chief executive of Hua Seng Heng Group, gold delivered a return of 67% compared with the end of 2024 — the highest level in 46 years.
Domestic gold prices in Thailand peaked at 67,400 baht per baht-weight, rising 59%.
Looking ahead to 2026, although gold prices are already at elevated levels, supporting factors remain for further increases, he said.
“However, returns may not be as high as in 2025, with global gold prices potentially reaching $4,700 an ounce by year-end 2026,” said Mr Thanarat.
According to outlooks from 11 leading global financial institutions, gold prices in 2026 could rise to $4,500-5,000 per ounce if three conditions occur simultaneously: uncertainty over trade tariff retaliation measures, increased gold purchases by central banks to bolster reserves, and political interference in the Federal Reserve, which could affect US interest rate trends.
The surging US public debt and the global push towards reducing reliance on the US dollar or de-dollarisation are additional factors supporting global gold prices, said Mr Thanarat.
Although gold delivered exceptionally high returns this year, it is fundamentally a long-term portfolio enhancer, not an asset that yields over 60% annually, he said.
Investors are advised not to rush into gold at elevated prices, but rather to gradually accumulate when prices correct to the range of $3,700-3,800 an ounce, said Mr Thanarat.
“The $3,700-3,800 range per ounce is considered appropriate for gradual accumulation,” he said.
Market research indicates gold consumption among Thai investors has shifted, with more purchases of gold bars for savings, while demand for gold jewellery has declined.
The average age of gold investors changed to 20-30 years, compared with past eras when people began investing at 40 or older after accumulating sufficient savings to buy gold bars.
Thanks to easier access to diverse gold investment platforms, investors can choose gold exchange-traded funds through electronic channels that enable real-time trading.
This convenience has accelerated trading activities, in turn contributing to greater volatility in gold prices, noted traders.
Yuthana Praiwan
Gas prices are likely to remain a dominant factor in determining power bills in 2026, resulting in cheaper electricity prices for households and businesses.
The Energy Regulatory Commission (ERC) resolved to reduce the power tariff, which is used to calculate power bills, by 0.06 baht per kilowatt-hour (unit) to 3.88 baht a unit.
The existing tariff rate is 3.94 baht a unit, applicable between September and December.
ERC secretary-general Poonpat Leesombatpaiboon attributed the lower rate, to be enforced from January to April next year, to PTT Plc’s projection of lower gas prices.
Gas, including liquefied natural gas (LNG), makes up 60% of the fuels used for power generation in Thailand. The country is becoming more dependent on LNG imports as the domestic gas supply dwindles, but LNG prices are volatile.
The national oil and gas conglomerate expects LNG prices to decrease from US$12.5 per million British thermal units (mmBtu) at the end of September to $11.6 per mmBtu from January to April 2026.
This projected decline enabled the ERC to reduce the power tariff for the first four months of next year.
However, LNG prices are not expected to decrease significantly in 2026, according to the International Energy Agency.
Analysts expect a more balanced market as new supply comes online, but strong demand, especially for power generation and expanding exports, will likely keep prices firm rather than falling.
Despite lower LNG prices, the decrease in the power tariff is limited because a portion of electricity bills are needed to reimburse the Electricity Generating Authority of Thailand (Egat).
The ERC has to pay money to Egat monthly to help the authority deal with a financial imbalance caused by its previous electricity price subsidy programme.
Another portion of power bills must be allocated to PTT, which also implemented an electricity price subsidy scheme.
Yuthana Praiwan
Thailand’s first standard for sustainable aviation fuel (SAF) is slated for enforcement from Jan 1, 2026, setting a new trend of using greener fuel in the aviation industry to reduce its carbon footprint, says the Department of Energy Business.
The move comes as the Civil Aviation Authority of Thailand signed a memorandum of understanding on SAF promotion with eight airlines last month, aiming to reduce carbon dioxide emissions and help the government achieve carbon neutrality, a balance between carbon dioxide emissions and absorption, by 2050.
The airlines are Thai Airways, Bangkok Airways, Vietjet Thailand, K-Mile Air, Nok Air, Thai AirAsia, Thai AirAsia X and Thai Lion Air.
The aircraft biofuel SAF produces up to 80% less greenhouse gas emissions than conventional fuel, according to media reports citing various forecasts.
The guidelines used for SAF manufacturing in Thailand are based on international standards and cover neat SAF, Jet A-1 and a mixture of neat SAF and jet fuel, said Sarawut Kaewtathip, director-general of the department.
Neat SAF refers to pure SAF, while Jet A-1 is a kerosene-type aviation fuel used commercially by aircraft.
Vietjet Thailand is the first low-cost Thai carrier to operate flights with a 1% blend of SAF.
The airline’s flight from Bangkok to Phu Quoc in Vietnam marked the start of SAF blend use on Nov 6.
Following the International Civil Aviation Organization’s standards, Vietjet Thailand aims to use an SAF blending of 5% for all routes by 2030, helping to reduce carbon emissions by 153,000 tonnes over the next six years.
Even though SAF costs more than twice the price of Jet A-1, it should not significantly impact passenger airfares as the blending portion is only 1%, said Woranate Laprabang, chief executive of Vietjet Thailand.
Bangkok Airways started using the SAF blend for its international flights from Suvarnabhumi airport since July 1 under a pilot project in collaboration with PTT Oil and Retail Business Plc (OR).
Thailand has two major SAF manufacturers: Bangchak Corporation produces neat SAF, while PTT Global Chemical (GC), the petrochemical arm of national oil and gas conglomerate PTT Plc, makes an SAF-jet oil mixture. GC’s products are expected to be distributed and marketed by OR.
Both Bangchak and GC use cooking oil as a raw material to produce SAF.
