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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Phuket business: A speculative investment
PHUKET: I remember as a young kid growing up in the US often seeing bumper stickers on cars with slogans about freeing Burma. When I was I first planning to move to Phuket, Thailand I still had no idea where Burma was, as the maps now showed some country I had never heard of called “Myanmar” bordering the Kingdom to…
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Asia-Pacific Superyachts to join Phuket International Boat Show
PHUKET: Asia-Pacific Superyacht Association (APSA) will be exhibiting at this year’s Phuket International Boat Show (PIMEX) and Singapore Yacht Show (SYS). APSA members will be on hand to offer comprehensive information about the Asia-Pacific region, the association, its work and its member companies. “It is great that APSA has the support of the Informa Yacht Group and the APSA membership…
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Phuket business: New tourism and hotel college enrolls for May
PHUKET: In response to swelling demand in the island’s booming services industry, Thalang Technical College will be developing into the Phuket Hotel and Tourism College. The move was announced earlier this week by the college’s director, Suthep Yongyuth.“We first opened in 1997 as the Phuket Technical College number two, and then changed our name to Thalang Technical College in the…
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Phuket gears up for PIMEX 2012
PHUKET: The Phuket International Boat Show (PIMEX), to be held March 29 to April 1 at the award-winning Royal Phuket Marina, is set to showcase top global boat brands. The leading consumer boat show in Asia, PIMEX has the largest in-water boat display. More than 50 boats representing the leading boat brands from around the world, will be on display.…
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Phuket business: Indonesia – Asia’s new rising star
PHUKET: For many of us expats in Phuket, our Asian paradise has sheltered many of us from the financial woes being experienced back home by family and friends. Asian markets, though not totally immune to European debt levels and the impending push for White House power, have been fairly resilient over the last few years and have provided steady economic…
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Phuket business: Luxury auto dealer projects 25% growth
PHUKET: Highlighting the European high-end car market’s upward trend in Phuket, a major luxury car dealer has set its sales target to be 25% higher than last year. Sureeporn Udompolvanich, CEO of TSL Auto Corporation Co Ltd, revealed that the company was able to sell 800 cars in 2011 with a 15% increase in total revenue when compared to 2010.…
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Phuket business: Alien laborer deadline gets extension
PHUKET: More than 20,000 unregistered migrant workers in Phuket now have until mid-June to register with the government, thanks to a Cabinet resolution earlier this month extending the deadline by five months. The extension gives employers time to obtain two-year work permits for unregistered alien workers from Burma, Laos and Cambodia, said Phuket Provincial Employment Office Chief Noppadol Ployudee. Workers…
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Phuket business: Multi-billion baht deal signed
PHUKET: Ruea Yacht, the luxury yacht building division of Phuket-Bangkok based Yacht Solutions, has joined forces with Northrop and Johnson – one of the world’s largest independent yacht brokerage firms. Highlighting the increased demand, supply and overall growth in Thailand’s superyacht industry, the new partnership will generate billions for the local economy. Director of Northrop and Johnson said: “Over the…
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Phuket business: Axiom legal financing segregated portfolio
PHUKET: A little while back my article about litigation funding in general was published and at the time I was kind of sitting on the fence about the asset class. One of my main hang-ups had been with the fact that generally the access to it that I had seen up to that point had been via structured notes, which…
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PHUKET TOURISM: Expert warns of traffic crisis for Phuket Airport
PHUKET: Capacity at Phuket International Airport is expected to reach critical levels this year with the thriving tourist destination projected to receive a staggering nine million visitors in 2012, according to a report released by leading hospitality consultancy C9 Hotelworks today. Bill Barnett, Managing Director of C9 Hotelworks and Phuket Gazette Property columnist, reports that the airport is officially capable…
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Phuket Gazette: Thai ‘wellness tourism’ to scoop up 350bn baht: TAT
PHUKET: The Thai government is projecting that the healthcare sector will earn a total of 350 billion baht (US$11.5bn), contributing much to the government target of becoming a “World Class Health Provider” by 2014. The projection covers the period of a five-year campaign from 2010 to 2014. The strategy follows Thailand being dubbed the “Spa Capital of Asia” in 2008,…
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Tourists from Taiwan to Phuket to double in 2012: PTA
PHUKET: The number of Taiwanese tourist arrivals in Phuket this year is expected double last year’s figure, a senior government official has announced.Paiboon Upatising, currently caretaker president of the Phuket Provincial Administration Organization (OrBorJor), said that the island can expect up to 100,000 Taiwanese arrivals in 2012 – compared with 50,000 last year.The projections were announced following the “Phuket Road…
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Phuket tourism shrugs off Bangkok blasts: PTA
PHUKET: The recent bombings in Bangkok have not resulted in cancellations of hotel bookings in Phuket and the island’s tourism industry prospects for 2012 remain strong, the Phuket Tourist Association (PTA) has announced. Barring a “major incident”, Phuket can expect to have strong tourist arrival figures from both Europe and Asia throughout 2012, PTA President Jirayus Somboon told the Gazette.…
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Phuket business: Inflated eats; Flower sales bloom; Kata – Karon branded green; Taiwan bar raised
PHUKET: In light of the continuously rising cost of living, accounting books of rice and noodle vendors across Phuket and Thailand could become subject to increased audits this year. As of yesterday the Department of Internal Trade (DIT) issued official price cap suggestions for 10 common Thai menu items to be priced under 35 baht. These include rice dishes served…
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Phuket business: Local suppliers to extend reach
PHUKET: Red Bull’s national distribution arm is looking to capitalize on local supply markets, a strategy which could extend the reach of Phuket-sourced products into greater national, regional and global markets. Durbell, a key logistics affiliate of the Red Bull Beverage Company (the producers of Krating Daeng) aims to diversify its offerings and keep ahead in the expanding wholesale and…
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Phuket business: FC Phuketonomics: ball business
PHUKET: Despite having nearly been dissolved due to swelling debts, FC Phuket 1688 Co Ltd generated the fifth highest turnover out of 18 Division 1 clubs, statistics released by the Thai Premier League (TPL) have revealed. Concluding last month, the 2011-2012 season’s tallied receipts show that the Southern Sea Kirin had generated more than 2.8 million baht, which equates to…
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Chinese government eyes interest in Phuket light rail
PHUKET: A state enterprise from the People’s Republic of China is the latest party to express interest in investing in Phuket’s light-rail project.An administration and engineering team from Mashucon Co Ltd announced the news in a meeting with Phuket Governor Tri Augaradacha at Provincial Hall yesterday afternoon.Executive Chairman Nopphon Tansakul told the governor that his team came on behalf of…
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Phuket Business: Toyota Sure opens shop
PHUKET: With so many new cars hitting the streets, the island’s used car and trade-in market is rapidly growing – particularly good news for car owners having second thoughts about a recently purchased or leased vehicle. Benchmarking market growth, Phuket’s Toyota Pearl recently held the soft opening of Toyota Sure, the brand’s renowned second-hand car dealership, located off Chalermprakiat (Bypass)…
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Phuket Business: Medical tours vital to economy
PHUKET: Medical tourism in Phuket is flourishing and contributing greatly to the local economy, a representative from one of Phuket’s major international hospitals has said. Speaking exclusively with the Phuket Gazette, Peter Davidson, assistant manager of international services at Phuket International Hospital, said that “the number of people coming to Phuket for dental work and plastic surgery continues to expand…
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Phuket flower shops report blooming sales
PHUKET: Flower shops in Phuket are doing brisk business today, St Valentine’s Day 2012. Many flower shops report record orders for floral arrangements, from both inside Phuket and off-island. Classic red roses remain the most popular items among the adults, while teddy bears and chocolates are increasingly popular among teenagers. Flower shops in Phuket Town are displaying special flower arrangements…
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Phuket Business: Get ready for higher petrol prices
PHUKET: Now that we are fully into the swing of 2012, the Christmas tradition of goodwill to all men seems a lifetime away. When I get out of bed and go on my now regular morning beach run in Phuket – yes, my New Year’s resolution is still being adhered to – global problems seem to be a million miles…
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Phuket Business: Cool solutions to cut costs
PHUKET: Despite rising energy prices and the scorching heat outside, home and business owners in Phuket can reduce their electric and utilities overheads by taking advantage of the latest energy saving innovations. Up until recently, Phuket’s green energy market has been supplied with only a limited offering of environmentally friendly technologies and energy saving solutions. Notably, a handful of key…
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DaVinci charters steps forward for 2012 Bay Regatta
PHUKET: It’s not unusual when marinas and yacht brokers cross over into the restaurant business, but co-sponsor of the Bay Regatta 2012, Phuket’s iconic Italian restaurant DaVinci – scored a first when they crossed in the opposite direction. Sponsoring yachting and yacht racing is one thing – and DaVinci has shown other island businesses how that should be done –…
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PIMEX boosts marine-triangle tourism
PHUKET: At the forefront of Asia’s growing marine leisure industry, Phuket island is one of the top five cruising destinations in the world, and lies in the heart of the emerging ‘Andaman Marine Triangle’. Consisting of Phuket, Phang Nga and Krabi provinces, the Andaman Marine Triangle is home to some of the most stunning sailing grounds in the world. Indeed,…
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Phuket Business: New biz center opens
PHUKET: Kasikorn Bank Group opened Southern Thailand’s first Business Services, Securities and Leasing Center, located on Thepkrasatri road in Phuket Town recently. The center will specialize in investment and lending services for Kasikorn clients in Phuket and the entire southern region. Padermpob Songkroh, Managing Director of Private Fund Management, Kasikorn Securities said, “The center is one of only 12 nationwide…
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Phuket Business: White-collared workers to gain from boom
PHUKET: The local work force and overall economy of Phuket stand to benefit from the ensuing boom in real estate, an executive of a major real estate developer has said. Speaking exclusively with the Phuket Gazette, Suriya Wannabuit, Executive Vice President of the Project Management and Marketing Department of Sansiri Pcl, shared his thoughts about the local economy. “Locals don’t…
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Phuket Business: Hydrofoil pilots
PHUKET: An innovative technology which looks to give a boost to the Andaman coastal region’s sea transport industry, is now being piloted off the shores of Phuket. Benchmarked by the unofficial launch of a hydrofoil sea transport and tour service, swift and seamless day trips from Phuket to distant, offshore havens in Krabi and Phang Nga provinces are not only…
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Phuket Business: Dive center targets “no niche’
PHUKET: THE international appeal of Phuket’s dive industry has seen many dive shops and dive centers on the island honing in on specific niche markets, usually centered around a specific country or nationality. Backed with their well-equipped dive boat and brand new training facilities, Andaman Ocean Safaris’ business model takes niche marketing a step further, by targeting agents, rather than…
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Phuket Business: Now is the time to structure your financial investments
PHUKET: Now that 2012 is in full swing and no doubt many of the New Year’s resolutions have been thrown out of the window, it’s time to get a hold of the purse strings and have a set plan for the forthcoming year. I have already given my views on what I believe we can expect from the year ahead.…
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Phuket “fully booked’ for Korean, Chinese New Years
PHUKET: Local tourism representatives are expecting hotel occupancy rates of 90 to 100% across Phuket during the upcoming festive period. Most tourist arrivals to Phuket at the end of January will come by direct flights from China and Korea, said Somboon Jirayus, Presdient of Phuket Tourist Association. “In addition to Seoul, Hong Kong, Taiwan and Singapore, there are currently about…
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