Thailand's Minimum Wage Hike: A Step Towards Economic Revival

Thailand is set to raise its minimum wage by an average of 2.9%, potentially reaching between 337 and 400 baht, starting January 1. This decision aligns with the current economic conditions and high living costs. The increase is part of Pheu Thai party's broader economic revival strategy.

Thailand is preparing to implement an average 2.9% increase in the daily minimum wage, ranging from 337 to 400 baht, starting January 1. This move follows economic trends and the rising cost of living, according to Boonsong Thapchaiyut from the labour ministry.

The proposed wage adjustment varies by region and represents a rise from 7 to 55 baht over the current 330 to 370 baht daily rate. The hike aims to be approved by the cabinet following a delay due to quorum issues in committee meetings.

This initiative is part of the ruling Pheu Thai party's campaign, promising a further increase to 600 baht by 2027, as part of efforts to stimulate growth in Thailand's debt-burdened economy.

(With inputs from agencies.)