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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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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Phuket Business: Learning from the master investor
PHUKET: Warren Buffet, CEO of Berkshire Hathaway, is arguably the greatest investor of our time. Most of us can never hope to achieve the kind of success he has had, but we would all probably do well to follow some of his very common-sense advice. I have gathered a few quotes attributed to him for this week’s article. They’re pretty…
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Phuket fractional ownership ventures into new waters
PHUKET: Among the many luxury yachts to go on display at the 2012 Phuket International Boat Show (PIMEX) at Royal Phuket Marina. on Thursday will be the event’s first fractional ownership boat for sale. Shared ownership pioneer Absolute Fractionals will showcase the Elan42 luxury motor yacht. A product of one of Europe’s largest and long established shipbuilders, the yacht features…
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Phuket’s Kata Group opens ‘Beyond Resort’ in Khao Lak
PHUKET: The Kata Group, one of Phuket’s best-known resort chains, celebrated the latest addition to its portfolio of luxury resorts on Friday.Located in Phuket’s neighboring province of Phang Nga, the new property in Khao Lak, branded as the ‘Beyond Resort Khao Lak’, is the group’s first foray out of Phuket since the opening of its Kandaburi Resort and Spa on…
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Phuket Business: Copyright fraudsters on the prowl
PHUKET: Operators of entertainment establishments that utilize copyright protected songs should be wary of personnel claiming to be royalty collectors, a statement issued by the Department of Intellectual Property has warned. The warning, published last week on the Ministry of Commerce website, said that the department has recently received a number of complaints from establishment operators in Phuket, Pattaya and…
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Phuket Business: The European tourist market is dormant, but not done
PHUKET: Local officials and tourism industry representatives are optimistic about the revival of the European tourist market in the near future, following the recent success of a Phuket tourism promotion roadshow in Germany. The Internationale Tourismus – Borse 2012 (ITB 2012), one of the largest tourism trade shows in the world, was held in Berlin, Germany. Representing Phuket at the…
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Phuket Business: Batik operations seek integration
PHUKET: The Phuket Provincial Industry Office (PPIO) recently led a seminar to reinforce the continued development and integration of the island’s high-potential Batik fabric industry. The industrial promotion event marked the beginning of the second consecutive year of efforts to develop local production, reinforcing momentum from the forming last year of the Phuket Batik Cluster. That initiative was marked by…
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Princess Yachts say ‘thank you’ in style
PHUKET: Princess Yachts Thailand held a lavish ‘thank you party’ at Phuket Boat Lagoon on Thursday evening in conjunction with the launch of the Princess Yachts South East Asia network. The annual Princess Rendezvous started on the evening of March 22 before their cruise to Phang Nga Bay and Hong Island in Krabi on March 23. Hundreds of guests attended…
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Blue Flag Fair a hit in Phuket Town
PHUKET: Wage slaves suffering from rising consumer costs and stagnant salaries have been flocking to the Blue Flag Consumer Products Fair at Sanamchai field in Phuket Town, where government-subsidized consumer staples and other products are on sale at rock-bottom prices through tomorrow. Supacha Bunthalit, who heads the Department of Internal Trade (DIT) Office in Phuket, told the Gazette the most…
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Laguna Phuket MD resigns
PHUKET: Michael Ayling has resigned his position as Managing Director of Laguna Resorts & Hotels, which owns and operates the Laguna Phuket resort complex on Phuket’s west coast. A media statement issued this morning noted that Mr Ayling’s last day with the renowned resort company will be on May 31, 2012. According to the statement he will be leaving the…
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Phuket Business: A mortgage in the UK
PHUKET: House prices in the UK have suffered a dramatic fall over the past few years and banks have made it harder for first-time buyers. To put it bluntly, banks have made it harder for any buyer getting on the housing ladder when prices are low. Although UK house prices are expected to make a steady recovery over the next…
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Phuket Business: Andaman motor show drives sales; Limited companies spike
PHUKET: THE 14th Andaman Motor Show, organized last week at HomeWorks, opposite Central Festival Phuket, concluded with one of its most vibrant years in car sales. The six-day event, this year under the theme “Summer on the Beach”, ended on Wednesday. “We don’t have final figures for the overall number of car loan applications yet, but I have to admit…
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Phuket Business: SET in the city
PHUKET: Investors in Phuket became privy to invaluable financial advice at the island’s inaugural investment extravaganza hosted by the Stock Exchange of Thailand (SET) recently. Organized in collaboration with the Phuket Chamber of Commerce, Phuket Federation of Industries and the Phuket Bankers Association, it was the first time for “SET in the city” to be held in Phuket. The event…
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