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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12Go introduces Japan Rail Passes to enhance travel accessibility for international travellers
For those who have travelled throughout Thailand, 12Go is a well-known provider of various trips, though the platform itself has a much wider reach. Ranging from buses to planes, 12Go is undoubtedly a leading booking platform for travel throughout the...
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Boonthaworn Phuket showroom to open by October 1
PHUKET: After years of delay, Bangkok-based construction materials retailer Boonthavorn is moving forward with its plans to enter the Phuket market with the opening of a “mini-showroom”.The new facility will be located between Songkhla and Yaowarat roads, near the Tesco-Lotus junction in Rassada.Speaking to the Gazette at the project site, Boonthavorn architect Jiravut Kararun said the company is currently renovating…
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Phuket Business: New trade surplus high; FDI jumps 66%; Foreign shares to be scrutinized
PHUKET: Three-quarters of the way into the government’s current fiscal year, international trade in Phuket is thriving, with this year’s trade surplus already surpassing last year’s record high. Phuket Customs House’ records through June 30 show that the value of exports in the 2012 government fiscal year (October 1, 2011 to September 30, 2012) is now at 12.06 billion baht…
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Phuket Business: Transit investors; Travelmob makes a move
PHUKET: A Thai-Australian consortium was the latest multi-national delegation to express interest in constructing the Phuket mass-transit, light-rail project which Cabinet gave provisional approval for at the mobile Cabinet meeting in Phuket in March. Thai Rail Tech company representative Sirichai Prasertwaree and Neil Heaton, general manager of the Hong Kong branch of United Group Limited (UGL), on July 10 met…
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Phuket hotel investments surge in 2012
PHUKET: Jones Lang LaSalle Hotels is predicting that Phuket will be one of Asia Pacific’s hotel investment hot spots in 2012, following record sales in the first half of the year. Investment in the hotel property sector in Phuket is expected to exceed 10 billion baht (US$315m) for the full year for first time ever in 2012. Mike Batchelor, Managing…
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Phuket needs “facelift’ before ASEAN Community 2015
PHUKET: Officials took another look at necessary island developments during a Phuket Tourism Association (PTA) seminar Friday, as Phuket prepares to enter the ASEAN Economic Community (AEC) 2015. “This is the third seminar that [the PTA] has held on this topic, because we understand the importance of ‘creative tourism’ and the necessity of applying it to Phuket in preparation for…
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Phuket Business: Risk on, risk off
PHUKET: There has been an increasing amount of correlation in the markets ever since the increased use of computers and algorithms. This has caused a lot of trouble with conventional diversification methods, and when markets get reactive to political tensions as they have been recently, it is common to see things moving in tandem across assets classes as developments are…
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Phuket Business: Google extending online reach for local businesses
PHUKET: Celebrating its inaugural year and 100,000 new businesses online, Google Thailand’s ‘Thai Businesses Go Online’ program (TBGO) has paved the way for the next stage in the evolution of an economically prosperous online ecosystem. Highlighting TBGO’s success, the IT and Marketing mega-icon’s country office reported that it has attracted more than 100,000 participants nationwide in a year – far…
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‘Creative Tourism’ seminar in Phuket next week
PHUKET: In preparation for the measures of the Asean Economic Community (AEC) set to take effect in less than three years, the Phuket Tourist Association (PTA) will host a seminar on Friday, July 20 to promote sustainable tourism under the concept of “creative tourism”. Among the distinguished guests invited to speak are former Bangkok Governor and current Democrat Party deputy…
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Phuket Business: Notice and redemption periods
PHUKET: One thing many investors don’t understand when looking at a fund fact sheet, is how long it will take to get their cash back when they sell. There are generally two pieces of information you’re looking for: one is the notice period and the other is the redemption period. These two things, in addition to a third factor –…
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Phuket Business: Migrant workers regulations; AirAsia move; Prefab construction
PHUKET: Employers in Phuket have been allotted additional time, until December 14, to have their Burmese, Laotian and Cambodian migrant workers complete the nationality verification process so they can be legally registered to work in Thailand. Phuket Vice Governor Sommai Prijasilpa explained the news to employers and their representatives at a meeting on June 20 organized by the Phuket Provincial…
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Phuket Business: The changing landscape of Phuket’s property sector
PHUKET: Demand on Phuket for condos is skyrocketing, highlighted by strong annual growth figures, which is in contrast with slumping sales of other housing types. A survey conducted by the Research & Development Department of Plus Property Co Ltd found that 2,641 new condominium units were sold on the island from April 1, 2011 through March 31, 2012 – an…
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Phuket Business: Boating industry shows signs of recovery
PHUKET: The yachting sector is showing signs of recovery following a three-year-period of stunted growth and sluggish sales brought on by global economic turmoil, a local industry expert has observed. “Despite what some figures indicate (see ‘Customs: more pleasure floating in’ below), it seems to me that our strongest years in terms of sales were from 2006 to 2008,” says…
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Myanmar to lure Mice to Phuket
PHUKET: The emergence of the ASEAN Economic Community (AEC) and the opening-up of neighboring Burma will generate more high-yield visitors for Phuket and Thailand in general, delegates attending a recent tourism industry conference were told. Emerging opportunities, as well as accompanying challenges, were the primary topics of discussion at the first Thailand MICE International Forum (TMIF) held in Bangkok on…
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Phuket Business: Why Facebook was never a sure thing
PHUKET: Personally speaking, I have never been one to jump on the Facebook band wagon. I just do not get the whole ‘let the world know what you are doing on an hourly basis’ scenario. Don’t get me wrong, this is a very useful application when, like ourselves, we enjoy the sun-soaked shores and we want to keep in touch…
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Phuket Business: When the financial gate slams shut
PHUKET: Since I’m often writing about how I like alternative investment strategies, it may be a good idea to do a few pieces on the features of funds available to managers when they open. This will help you understand what can happen when you invest in such a fund. This week is about gates – since most alternative funds write…
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Phuket Business: CPI rise slows down; Rice stocks pile high
PHUKET: THOUGH the cost of living in Thailand continues to rise, the rate of increase over the past three months has slowed, Consumer Price Index (CPI) figures indicate.Compiled and released by the Ministry of Commerce (MoC), the CPI national average nudged up 0.45 points to 115.23 in last month, a month-on-month increase of 0.39%.Calculated by comparing current average prices of…
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Phuket inks rice deal with Maha Sarakham
PHUKET: Trade representatives from Phuket and Maha Sarakham have entered into bilateral negotiations centered primarily on the supply of scented jasmine rice from the Northeastern Thai province. Marking the start of a promising commercial alliance, the development was highlighted by the signing of a trade memorandum at the Pearl Hotel in Phuket Town on Tuesday. The general terms of the…
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Phuket business: Thailand-UK trade steady; London Olympics to give Thai food exports a boost
PHUKET: After a moving ceremony handing out IB diplomas to graduating students at the British International school, HE Ambassador Asif Ahmad took time to speak with the Phuket Gazette about the strong links between the two countries. HE Asif Ahmad was made Ambassador to Thailand in late 2010 but had traveled frequently to the Kingdom, first as Director- Asia for…
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Phuket business: Sports tourism “scores big’; Games to bring in B600mn
PHUKET: Defining and developing ‘Brand Phuket’ as a world class sports tourism destination was top of the agenda at a recent meeting of senior business people here. Organized in collaboration with the Phuket PR Network and the Greater Phuket Chapter of the American Chamber of Commerce (AMCHAM), the meeting was held at the Thanyapura Sports and Leisure Club (TSLC) on…
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Phuket business: Smart phone sales soar in Q1
PHUKET: Thailand’s rapidly expanding smartphone market recorded nearly 70% growth in the first quarter of this year, according to GfK research group’s retail audit findings, which compare quarter on quarter revenue performances. Heightened consumer demand has brought about a surge in sales volume of over 80%, reaching 758,000 smartphones sold in the first three months of 2012 (Q1). Consumers in…
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Phuket business: Door slams shut on Guernsey
PHUKET: In a move that shocked the entire UK pension transfers industry, British tax authorities have halted future transfers to Guernsey. Apparently this action has been taken as an insult. Indeed, the providers in Guernsey have been held to a different standard than other jurisdictions such as the Isle of Man, Gibraltar, or Malta. The good news is, that safe,…
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Phuket business: Unplanned losses recovered
PHUKET: I very often come across a syndrome I refer to as “investor paralysis”. Basically this is where a poor investment is made, the value drops suddenly, and now you are too afraid to make any decision at all for fear of making another mistake, possibly a bigger one. Rather than putting yourself in that position, you are in fact…
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Phuket business: Google bridges the gap
PHUKET: Amid the fast paced “age of online” a bulk of local businesses have fallen behind a rapidly evolving consumer base, and companies need to catch up, says Ariya Banomyong, head of Google Thailand The country’s first manager for the iconic IT giant was in Phuket last week and the Gazette had the privilege to pick his brain for an…
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Bangkok Hospital Phuket celebrates 17 years
PHUKET: Bangkok Hospital Phuket today launched a two-week health fair to mark the facility’s 17th anniversary. During the fair, which runs until June 3, the hospital is offering special discounts on a range of patient services, including checkups and cancer checks, said Hospital Director Dr Narongrit Havarungsi. “We are also offering special prices on physio-therapy equipment and other recovery items,…
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Phuket business: What does the UK budget mean for British expats?
It’s that time again when George Osborne tries to tighten the purse strings for the UK economy and cut down the huge debt levels the youth of today have inherited from poor decision making and fiscal policies of the past. Inconsequential it may well be to certain socio-economic brackets with Mr Osborne’s large outstretched arm unable to ruffle their financial…
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PHUKET BUSINESS: Artificial reefs key to mass tourism dive industry
PHUKET: In the tourism game creating memories is everything, explains the Head of Development at Reef Worlds, Dave Taylor. “If you can create a tourism memory then you have won your game. You have won everything, because that’s a memory that never leaves a potential client, and they always come back to it,” Taylor told the Phuket Gazette in an…
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Phuket Business: Transit proposals keep coming
PHUKET: Two more parties have engaged the Phuket provincial government about the prospect of developing the island’s multi-billion baht light rail and tunnel mega projects. A multinational delegation from the Chinese construction giant China Gezhouba Group Corporation (CGGC) visited with Phuket Governor Tri Augkaradacha recently. “We are the biggest company in China and the 80th largest company of the top…
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Phuket Business: ThaiVisa penetrates neighboring markets
PHUKET: ThaiVisa.com, the leading English-language social networking website about Thailand, is expanding its operations to Myanmar and Cambodia.“We have carefully studied internet traffic trends and we see a sharp rise in search traffic and interest about our neighbor Myanmar,” said Barry Main, marketing director of Bangkok-based ThaiVisa Expat Group Co Ltd.“We believe it’s pretty easy for us to get a…
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Phuket’s Courtyard by Marriott in Kamala to reopen as Swissotel
PHUKET: Global chain Swissotel will reportedly take over management of the former Courtyard Marriott Kamala Beach effective April 1, reports Phuket Gazette Property Watch columnist Bill Barnett. The 180-key, all-suite hotel, which is owned by Destination Properties, is part of a Phuket portfolio that includes former Courtyards in Surin Beach and Patong. The news follows Marriott and Destination Properties announcing…
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Phuket AMCHAM/PR Network to hold Sports Destination Tourism Seminar
PHUKET: A panel of leading experts will conduct a session on the high velocity potential of Sports Tourism and its impact on Brand Phuket at Thanyapura Sports and Leisure Club’s (TSLC) ‘The View’ on May 24. Among those giving presentations will be Debbie Dionysius, Assistant Vice President of Destination Marketing at Laguna Phuket, who will discuss how the success of…
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