Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Thailand is a popular destination for expats due to its affordable lifestyle and excellent healthcare system. However, settling in a new country often brings health concerns. To ensure you’re covered for the most common medical needs, understanding what expat health...
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Phuket Business: US tax regime – Comply or else…
PHUKET: At a US tax seminar held last month at the Holiday Inn, Patong, by the American Chamber of Commerce (AMCHAM) Phuket Chapter, American income earners and business operators were given a comprehensive update about the US tax regime’s reporting requirements and regulations. Two previous articles about the seminar – published in the Business section of the Phuket Gazette on…
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Phuket MICE city promotion strategy revived
PHUKET: The Thailand Convention and Exhibition Bureau (TCEB) has revived its efforts and moved its attention to once again help promote Phuket as a regional hub for corporate and organizational tourism. A new four-year strategy was presented to local, regional and national officials at a seminar on April 26 at the Metropole Hotel in Phuket Town. Entitled “Developing Phuket as…
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Phuket’s Autoexpress remains in driving seat
PHUKET: Demand on the island for imported luxury cars does not look like it will subside any time soon. Saksri Kerdphol, GM of Autoexpress, Phuket’s premier foreign automobile dealership and service provider, gives a brief update about local market trends. This is followed by some customer testimonials. Phuket Gazette: What is the current state of the auto luxury import market…
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Singaporean investor sniffs out tuna ops in Phuket
PHUKET: An investor from Singapore has expressed interest in expanding Phuket’s Tuna industry through the establishment of a new commercial longline fishing partnership with local operators. Phuket Governor Maitri Inthusut, along with Vice Governor Somkiet Sangkaosut-tirak, last week welcomed the Singapore-based businessman, Yong Juang, who came to the island to discuss investment guidelines, regulations and laws. Mr Yong Juang is…
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Phuket Business: The not-so-hidden cost of inflation
PHUKET: If you are an expatriate living in Thailand or considering relocating here, high inflation might be a distant memory from as far back as the late 1970s. However, Thailand has much higher rates of inflation than is seen in most developed countries, and you will need to consider that when you invest and prepare a budget for your Thai…
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Laguna Phuket to host record-breaking Nu Skin incentives meeting
PHUKET: Laguna Phuket is playing a major role in a record-breaking annual incentive program being staged over six days, from Sunday April 21, for 4,000 delegates and staff of anti-aging products company NU SKIN Greater China. The delegation is expected to generate a business boom for Phuket and Thailand.NU SKIN delegates from seven cities in mainland China, as well as…
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Phuket Finance: Note the contrarian investor
PHUKET: Contrarian investors are those who generally do the opposite of what the majority do. There are many forms, but basically they can all be summed up by the old Wall Street adage, “Buy Low, Sell High.” As simple and as logical as this advice sounds, in practice the majority of investors in fact do the opposite. The lonely contrarians…
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The rise of technical goods
PHUKET: The Technical Consumer Goods (TCG) market in Thailand last year saw positive annual growth in six out of seven sectors tracked by a recent regional market survey. The strong growth of TCG, which includes everything from smart phones, cameras, washing machines and cooking appliances, to TVs, tablets, air coolers and office equipment, was highlighted in a recent survey and…
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Phuket gets first Evolution Cinema Planetarium in Thailand
PHUKET: Island residents and tourists alike earlier this week welcomed the opening of the Evolution Cinema Planetarium, a new ‘edutainment’ attraction in Phuket Town. Located in front of Central Festival Phuket’s main entrance, the new mobile cinema planetarium is the first of its kind in Thailand. “The Evolution Planetarium is the newest generation of visualization systems for entertainment and studying,…
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Phuket Business: Budgeting tips and concerns for expats
PHUKET: Becoming and remaining an expat in Phuket, Thailand will require careful budgeting to avoid potential minefields or serious financial problems down the road. With that in mind, here are concerns or tips to keep in mind to help you avoid blowing a hole in your expat budget: Track your living expenses Most personal finance software like newer versions of…
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Phuket Finance: Buy Priceline and book your visa run
PHUKET: Just the other day I had a client ask me how he can save some money on his next visa run. He wants to explore more of Southeast Asia and has gotten tired of making the usual trip to Cambodia, Laos or Kuala Lumpur. That’s when I told him about Priceline.com. Priceline (PCLN) is the famous “Name Your Price”…
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Phuket Business: Job fair expected to fill 30% of vacancies
PHUKET: Of the 6,000 job vacancies offered through the “e-jobs@Phuket 2013” job fair held recently at Phuket Rajbhat University, only 118 positions were immediately filled, the Phuket Gazette has learned. Phuket Provincial Employment Office chief Yawapa Pibulpol said that a total of 1,578 job applications were submitted. Of these, she said 548 were submitted at the fair itself, while the…
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India travel delegation arrives on inaugural Mumbai flight
PHUKET: Laguna Phuket hosted a welcome lunch for Indian travel agents, media, Tourism Authority of Thailand (TAT) executives and airline representatives who traveled on the inaugural Thai Smiles flight from Mumbai on Thursday (April 4). The lunch at Banyan Tree was hosted by Ziya Birkan, deputy managing director of Laguna Phuket. The travel agents later attended a business-to-business conference organized…
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April festivities to generate millions for Phuket
PHUKET: The Tourism Authority of Thailand (TAT) Phuket office expects upcoming festivities this month to generate between 600 and 700 million baht for the local economy. TAT Southern Region 4 Office director Chanchai Doungjit talked about the current tourist situation ahead of the upcoming two-week festive period. He announced that the holiday period officially starts tomorrow, with Chakri Memorial Day,…
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UK’s residency law changes may affect Phuket’s expats
PHUKET: With the Finance Act 2013, the UK is making changes to the statutory residency laws, which may affect some expats living in Phuket. It is well worth taking the time to review the changes if you are one of those who have just left the UK or who, and although you reside in Phuket, you maintain significant ties to…
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How Phuket expats can cut their investment costs
PHUKET: If you are like many expatriates in Phuket, or indeed across Thailand, you have probably failed to realize the impact trading or investment fees can have on your portfolio’s return, as such costs are often hidden and can quickly add up over time. In a rising market, these costs may not be so noticeable; but in a stagnant or…
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Phuket Business: Thai football market value to triple by 2017
PHUKET: Thailand-based sports media corporation, Siam Sports Syndicate Pcl, has set a five-year target for the value of the Kingdom’s professional football market to grow by 300%.VIPs from Thailand’s professional football leagues met last month in Bangkok to sign a five year licensing management and administration agreement for the broadcasting and promotion rights, and work out benefits of the lucrative…
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Phuket Business: Formaldehyde free for the AEC
PHUKET: The Deputy Minister of Public Health declared the Baan Saan fresh market in Phuket Town as formaldehyde free, following an inspection tour of the market earlier this week. The Baan Saan market, also known as the Phuket City municipality public fresh market number 1, is located on Ranong Road, near the local bus (sawng taeo) boarding area in Phuket…
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Honda’s BigWing takes off in Phuket
PHUKET: Honda’s BigWing dealership announced its arrival in Phuket yesterday with drum rolls and engines roaring, as the island’s biking community were eager to get their hands on the latest offerings from the Japanese giant. Following their successes in Chiang Mai, Pattaya, Udon Thani and Bangkok, the island was the natural choice for the brand’s expansion into Southern Thailand. Honda…
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CB500x gets new Phuket wings
PHUKET: Bike lovers are anticipating the new Honda BigWing motorbike dealership and showroom, set to open its doors in Phuket on Thursday (March 28). A Honda sales representative told the Phuket Gazette that the dealership has already received many inquiries and reservations. “Since the beginning of the year CB500X has been the talk of the town not only amongst the…
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Phuket Business: Why Google is still the best
PHUKET: The word ‘Google’ is a household name, synonymous with the word ‘search’ or even ‘research’ for most people around the world. The name itself originated from the word ‘Googol’, coined by Milton Sirotta, meaning the number 1 followed by 100 zeros; basically an extremely large number. It represents the vast universe of information that Google makes available to the…
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Phuket Business: Tax filing deadline nears
PHUKET: With the peak of the Thai hot season fast approaching, the Personal Income Tax (PIT) filing deadline is also nigh. Usually, the deadline is March 31, but since the last day of March this year falls on a Sunday, income earners in the Kingdom have been given until Monday, April 1 to file their paper returns, or until Tuesday,…
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Phuket’s scrap yards cleaning up
PHUKET: As part of a campaign to raise awareness about pollution, and thus reduce it, the Phuket Environmental Office is conducting appraisals of the island’s antique shops, warehouses and old household item scrap yards. So far, a total of 39 businesses on Phuket have been targeted by the government campaign, which looks to certify related operators as a “Green Antique…
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Phuket Business: Three more subdivisions get approval
PHUKET: A recent Phuket Land Subdivision Committee (PLSC) meeting gave provisional approval for three Land Subdivision Permit (LSP) applications, while denying another application. Chaired by Phuket Vice Governor Chamroen Tipayapongtada, the PLSC’s first meeting this year was held on March 5 at the Phuket Land Office. Among the topics addressed in the meeting was the review and consideration of four…
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Reflecting on currency exposure
PHUKET: If you are a long-term expatriate living in Phuket, Thailand, you have probably seen the Thai baht appreciate significantly against your home currency – a trend that will likely continue for the foreseeable future. This appreciation (along with an average inflation rate of 2.7% since 2000) makes it increasingly expensive to live in Thailand at a time when you…
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Phuket Business: AMCHAM to host US taxation seminar in Patong
PHUKET: If you are an American and are baffled by the US tax regime on overseas residents, then you do not want to miss an AMCHAM (the American Chamber of Commerce) seminar on Friday (March 8), at the Holiday Inn Patong. John Andes, tax partner at KPMG Thailand, will provide an overview of US taxpayers’ 2012 US income tax and…
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Phuket Business: A land of opportunity
PHUKET: The island emerged last year as Thailand’s strongest hotel market, according to a recent report by Jones Lang LaSalle. The report, entitled Spotlight on Thailand – Hotel Investment Market said that as of December 2012, year-to-date (YTD), Phuket had an occupancy rate of 72.4%. Meanwhile, it said that the Average Daily Rate (ADR) was 3,902 baht, which resulted in…
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Phuket Business: French ambassador to boost SMEs
PHUKET: The new French Ambassador to Thailand, Thierry Viteau, made his first visit outside of his station in Bangkok recently to discuss in Phuket the need to strengthen relations in the tourism market. “Phuket and Nice in France have been ‘sister cities’ since 1989; I want to take this opportunity to re-strengthen and renew our relations,” Amb Viteau, who assumed…
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Major hotels prepare for blackouts next month
PHUKET: Major retailers, hotels and other businesses are planning strategies to cope with a possible electricity crisis in April, preparing to reduce power consumption to prevent blackouts and losses in revenue. A large supply of natural gas from Myanmar will be disrupted from April 4-12 as two drilling rigs in the Andaman Sea are shut down for repairs. Other fuel…
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Phuket Finance: The many laws of averaging
PHUKET: Averaging is a word that has many meanings when it comes to investing. The investment world is full of conflicting opinions and advice, and a very common mistake people make is following advice that may be intended for short term speculative money and applying it to long term investment money, or money that is meant to be generating a…
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