Business News
Stay abreast of the ever-changing Business News in Thailand through our comprehensive coverage of local and international business events, market trends, and economic updates. We provide reliable analysis, in-depth features, and expert insights on the most relevant business stories, including issues affecting Thailand’s stock market, foreign investment, and entrepreneurship. Track the business world’s pulse as we inform you of crucial developments shaping Thailand’s economic landscape.
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Laguna Phuket ready for Amway mega-event
PHUKET: The Laguna Phuket resort complex in Cherng Talay is gearing up for its largest-ever incentives event in April and May, when it will host some 16,000 Amway sales representatives from China. Phakwiphoo Tanpradit, project manager for Laguna, said the Amway employee seminars will run from April 15 to May 14. They will arrive in staggered batches, with about four…
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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: Save yourself
PHUKET: I am personally a very big fan of Napoleon Hill, and I have just finished re-reading his original work The Law of Success in Sixteen Lessons. Each lesson is based on a quality or aspect which was a common denominator amongst all of the various successful men he had studied over a thirty year period, such as Henry Ford…
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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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Phuket Business: Outlook 2012 – bulls to the fore?
PHUKET: Personally, I am very glad 2011 is over; it was a horrible year across the board for almost all investment strategies. I do think 2012 will be a better year, although I am not predicting that things are going to get better overnight. Unfortunately there are two opposing forces at play which allows for a lot of uncertainty in…
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Phuket Business: Petrol pump prices jump
PHUKET: Nationwide petrol prices, including those in Phuket, rose by as much as 40 satang earlier this week. The Phuket Gazette confirmed with PTT gas stations in Phuket that the price rises on petrol and gasohol went into effect on the island last Wednesday. The prices of all benzine petrol and most forms of gasohol increased by 40 satang (0.4…
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Phuket Business: Solar system pilots
PHUKET: An innovative new solar power system will be making its world premier in the coming months, with Phuket to serve as a pilot market, and possibly a manufacturing base. The Powerrrup – that’s right, 3 rs – is an ingenious yet simple ground-breaking, renewable energy system developed specifically with the island’s “green conscious” market in mind. Its inventor, Ivan…
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Phuket Business: Trade, investment and green innovation on the up
PHUKET: Trade in Phuket flourished in 2011, while prospects for new investment and ground-breaking, eco-friendly innovation on the island are looking quite good in the year ahead. The latest 2011-2012 import-export figures released by the Phuket Customs House indicate that the island’s economy continued to grow over the past several years – mostly thanks to one viable yet heated commodity.…
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Phuket Business: Dot Com rise and fall on the way
PHUKET: Dot com and dot net website owners in Phuket and across the globe will incur an increase in annual registration fees of no less than 7% after Sunday.Webmasters wanting to take advantage of current rates have until 11:59pm on Saturday in the time zone that the registrar is located to make sure their web domains’ registrations have been accepted,…
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Phuket Business: Peak season tourism spike sees limited hotel vacancy
PHUKET: Occupancy rates at hotels along Phuket’s beaches have averaged more than 90 per cent during the current peak period and are expected to remain at or near capacity well into 2012, the Tourism Authority of Thailand (TAT) has announced. Bangornrat Shinaprayoon, head of the TAT regional office in Phuket Town, said the island’s tourism sector is bustling not only…
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Phuket Business: Year-end events inject B370mn into economy
PHUKET: A number of large events held in Phuket during the final month of 2011 are expected to have generated as much as 370 million baht in revenue, government officials were told recently. The news was announced at a meeting at Phuket Provincial Hall. Chaired by Phuket Governor Tri Aukaradacha, the meeting was attended by representatives from various government departments.…
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Phuket Island Investor: Always look on the brighter side of life
PHUKET: Now that the Christmas trees have been taken down and the New Year has been well and truly rung in, we can start looking forward to all that 2012 has to offer. It is fair to say that 2011 was a turbulent year in the world of the financial markets, but will 2012 be any better? We certainly have…
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Phuket Business: Ingredients of good showbiz
PHUKET: Siam Niramit Phuket recently launched the second edition of “Thailand’s Must-See Show”, opening a massive new theater on the bypass road near Phuket Town to house it. Good news for the local entertainment and tourism sectors, Siam Niramit Phuket’s “Journey to the Enchanted Kingdom of Siam” show provides one more compelling itinerary for tourists and residents alike. Pannin Kitiparaporn,…
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Phuket Business: a collective island soul
PHUKET: Life in the brick house is in full holiday swing. Gargantuan cement trucks ante for position alongside monster buses teeming with an endless array of travelers. Despite a rising urban swell that is pushing development heavenwards, there has to be more to Phuket’s economic success story than bricks, mortar and an endless amount of infinity swimming pools. I tend…
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Phuket Business: a modern gold rush
PHUKET: As my latest trip to the UK continues, I was thinking “What can I get my dearest for Christmas this year?” I’m not the biggest fan of shopping trips and love nothing more than having a fixed plan in place to minimize the whole experience. Being Christmas, though, I thought I should give this a little more time and…
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Weeding out hype in Phuket’s health-conscious market
PHUKET: Health and environment are two buzzwords that are being heard a lot nowadays across the globe and Phuket is no exception. Health-conscious segments of local markets continue to grow and an increasing number of producers are looking to exploit this consumer base. What was once a niche market has turned into an ‘eco green everything’ fad. Indeed, many consumers,…
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Phuket’s superyacht industry flourishing
PHUKET: Migratory birds aren’t the only ones moving south to escape plummeting temperatures in the northern hemisphere. South Asia is rapidly becoming the preferred winter destination for owners of superyachts – motor yachts in excess of 30 meters or 100 feet. Indeed, an increasing number of these luxurious leisure ships can be sighted off the shores and islands across the…
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Pornthip Phuket packaging takes to world stage
PHUKET: Pornthip (Phuket) Co Ltd, the island’s most recognized food-gift brand, submitted two of its award-winning products to contest in the AsiaStar Awards 2011, also known as the “Packaging Oscars of Asia”. Having recently achieved national recognition at the ThaiStar Packaging Awards 2011, Pornthip’s Andaman and Sino-Portuguese gift sets will now join the regional ranks along with 54 other submissions…
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Phuket’s labor shortage critical
PHUKET: Industry analysts describe the labor shortage in the Phuket tourism industry as “critical”, with as many as 4,000 vacant hotel positions as the island enters its annual high season for tourism. Bhuritt Maswongsa, a vice president of the Phuket Tourist Association, said, “The lack of hotel employees has now reached a crisis point with 3,000 to 4,000 unfilled positions.…
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Phuket Business: Bad investments – a fiscal toy story
PHUKET: I often write about things which I think may or may not be worth considering as an investment. Today I would like to try and get my readers to understand some things which generally are considered as bad investments. Professionals in my industry usually will vary greatly on their opinions of what is a good investment at any one…
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Chalong Marina ready in 2012
PHUKET: Work on the 70-million-baht Chalong Bay Marina project is now about 90% complete and should be finished early in the new year, officials say. Phuriphat Teerakulpisut, Chief of the Marine Department Region 5 office in Phuket Town, said opening of the 44-slip facility will improve the island’s ability to accommodate the growing number of yachts that port in Phuket…
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Kings Cup Regatta to generate B600mn for Phuket
PHUKET: This year’s Kings Cup Regatta is expected to rake in 600 million baht for Phuket. Presiding over a press conference to promote this year’s event, Phuket Governor Tri Aukaradacha last week said that this year’s revenue for the province is likely to exceed that of last year’s edition. Noting that last year’s regatta generated about 550 million baht for…
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Phuket Business: Uncertain future for electronic billboards
PHUKET: Commuters in Phuket have witnessed a gradual upgrade in roadside scenery over the last few years. Advertising and media communications are steadily evolving, and many will have noticed traditional print billboards gradually being replaced with animated, digital versions at various traffic junctions around the island. Indeed, the emergence of Light Emitting Diode (LED) technology represents a sign of the…
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Korean tour operators to partner with Phuket
PHUKET: Korean honorary consul Tossaporn Thepabutr recently warned local officials to prepare for an influx of Korean tourism operators coming to set up shop in Phuket. “More Korean company owners are looking at moving their operations to Phuket because of the floods in Bangkok. Phuket is considered much safer,” he said. “Many Korean businesses will join Thai operators to form…
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Wage hikes postponed for Phuket and others
PHUKET: The Cabinet has approved the postponement until April 1 of the controversial 300 baht daily minimum wage hike in Phuket, Bangkok, and five other provinces. The decision to postpone from the initial target of January 1 was made in light of the recent flooding, which has dealt a body blow to the manufacturing sector in much of the country.…
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Experts call for consistency with “Brand Phuket’
PHUKET: The Greater Phuket chapter of the American Chamber of Commerce (AMCHAM) last night held a meeting to discuss the history, evolution and future of “Brand Phuket”. Hosted at the Anantara Resort in Mai Khao, discussions of the island’s brand were fueled by inspirational presentations by marketing communications expert David Johnson and brand guru David Keen. Also in attendance were…
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Phuket Business – Looking forward to 2012
PHUKET: Walking into my local shopping center yesterday I was amazed to see Christmas decorations adorning the shops and general surroundings. A quick check of the date on my watch and I realized that although the trees, baubles and tinsel were a trifle early, it certainly was closer to the holidays than I had imagined! This gave me food for…
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