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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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: “Q day’ is fast approaching
PHUKET: Many expatriates in Phuket with UK pensions have held off on transferring them offshore due to the relative infancy of the industry and the fact that there has been little guidance on some of the more technical aspects relating to the transfers from HM Revenue and Customs (HMRC). That is all changing as the new legislation introduced recently in…
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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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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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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: 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: 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 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: Customs: trade thrives in 2011
PHUKET: Trade flourished during 2011 in Phuket, with the island’s surplus of exports over imports more than 10.4 billion baht, according to statistics recently released by the Phuket Customs House. The total value of imports to the island during the 2011 Thai Government fiscal year (October 2010 to September 2011) was 2.12bn baht compared to 12.5bn baht in exports during…
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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: 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 Briefs: new AirAsia route; Sri Lankan E-visa; Dollar rise; Wallace leaves
Trang welcomes new AirAsia routeThai AirAsia has announced regular flights between Bangkok and Trang commencing in the middle of January. Currently Nok Air and Orient Thai service the destination. Tourism in the southern area of Trang continues to struggle with low demand. Sri Lanka starts E-visa requirementDespite a drive to increase tourism numbers into post-war Sri Lanka, the country is…
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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 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: Time is money
PHUKET: One of the first concepts we needed to learn when studying finance was that of the time value of money. In theoretical terms it is quite easy to understand, but when practically applying it to life decisions it can be a little more complicated. Basically the idea is that 100 dollars today is preferable to 100 dollars in a…
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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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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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Business briefs – new airbus for Phuket; 3G; rubber trading
New Bangkok Airways Airbus to fly Phuket, Koh Samui, Chiang Mai, Bangledesh and IndiaPhuket GazetteBangkok Airways recently acquired a new Airbus 319, the airline’s 18th aircraft. With a total of 130 economy seats, the new craft will fly domestic and international routes serving at least five destinations including Phuket, Koh Samui, Chiang Mai, Bengarulu (Bangalore, India) and Dhaka (Bangladesh). 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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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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Boats to show at PIMEX 2012 valued at US$50mn
PHUKET: Boats confirmed for display at the Phuket International Boat Show 2012 (PIMEX) have a combined value of more than US$ 50 million (approx 1.5 billion baht). To be held at the Royal Phuket Marina from March 29 to April 1 2012, this ninth edition of PIMEX is organized by Informa Yacht Group. PIMEX brings leading boat brands, yachting products…
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