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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My house for your car: B2B
PHUKET: Looking to expand locally what is touted as the “world’s largest international barter network”, BBX Thailand is offering to slash its sign-on fee for new members in Phuket. The barter-credit network facilitator, founded in Australia in 1993 and currently operating in nine countries globally, held a Phuket network meeting last week at Ban See Nam restaurant. A BBX representative…
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Chinese, Russian influx a boon for Phuket
PHUKET: Despite a dramatic decline of visitors from Western Europe, Phuket’s tourism industry thrives, thanks to the throngs of Chinese and Russian travellers who fill up hotel rooms but also strain the infrastructure. “For the first time, travellers from legacy markets such as Western Europe are no longer present in the top five arrivals. What has replaced them are Asian…
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Last Call – Table for three, please
PHUKET: The intersection, or better yet juxtaposition between the mythical Cyclops of desire and loathing is hardly visible to the naked eye. I might be going a little too “fru fru” here so let’s back away from the table a bit. Slowly, making sure not to stumble over a nearby sleeping soi dog. Back we go to the beginning of…
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Americans renouncing tax liabilities
PHUKET: The number of US taxpayers renouncing their citizenship or permanent-resident status reached a new high in Q2 of 2013. The figure of 1,130 people who the IRS listed as renouncing their status is two-thirds higher than the previous recent high, set in Q1 of 2013 and six times higher than Q2 of 2012. It is also the largest number…
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Hospitality recruitment: New six-star property and restaurant north of Phuket now hiring
PHUKET: Anticipating the opening later this year of a new “six-star” hotel and adjoining Michelin-cheffed restaurant just north of Phuket, the Iniala Group will hold a recruitment event at Royal Phuket Marina on Saturday, August 24 (click here for map). To be held from 9am to 7pm, “Recruitment Day” will look to hire a number of Thai nationals to fill…
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AEC training for tourism
PHUKET: The Department of Tourism and the National Institute of Development Administration (NIDA) will hold major training courses for entrepreneurs in the tourism and hospitality industry in order to prepare them for the opening of the Asean Economic Community. Pasit Poomchusri, Deputy Director General of the Department of Tourism said the tourism and service industry which includes lodgings, restaurants, transportation,…
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Phuket In Focus: AEC is coming – are you ready?
PHUKET: In 2015, the 10 member states of the Association of Southeast Asian Nations (Asean) – Thailand, Indonesia, Malaysia, the Philippines, Singapore, Brunei, Myanmar, Cambodia, Laos and Vietnam – will formally integrate their economies as part of the Asean Economic Community (AEC) initiative. The AEC will be similar to the European Economic community (EEC) where participating countries aim to develop…
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Chalong means “celebrate’ – Phuket Business
PHUKET: They started the production just nine months ago but they already have reasons to celebrate – their product achieved international recognition, winning the highest award for a white rum at the International Wine and Spirit Competition in Hong Kong. But what’s even more important, it feels like a part of Phuket’s DNA – natural, local, merging traditions and cultures.…
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Last Call – Digging my way down to China
PHUKET: Growing up in California, one of my favorite pre-teen past times was digging holes. Not just holes but dark inviting spaces with a purpose. A fort, or looking for buried Aztec treasure, putting time capsules away to be dug up after people are weekending on Mars or the sadness of burying a demised goldfish or two. We never quite…
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Raising bar past low-tide mark – Phuket Business
PHUKET: Corporate social responsibility (CSR) has a long-standing and ill-fated tradition of stopping at the low-tide mark. For mountain resorts in the French Alps, which do not rely on what is beneath the ocean surface to draw guests, such an oversight is understandable. However, the trend of CSR projects not safeguarding heavily threatened marine systems, such as the coral reefs…
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Asian demand for tablets and laptops insatiable
PHUKET: Southeast Asia’s internet infrastructure has improved by leaps and bounds, spurring the increasingly connected society to seek gratification for instant connectivity via portable devices such as tablets and laptops. In the last 12 months, demand for both devices grew to hit combined sales of nearly 14.2 million units across six of the region’s key markets – Singapore, Malaysia, Thailand,…
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Cloud computing: Forecast sunny – Phuket Business
PHUKET: Lately, I have been hearing many stories of expats and tourists in Phuket whose laptops have been stolen. Having your laptop stolen is a terrible experience. You not only feel violated, but your life was basically on that computer. Picking up the pieces can be hard, but today it can be made easier with cloud computing. Cloud computing is…
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7-Eleven – Can’t live without it
PHUKET: Love it or hate it, the local 7-Eleven has become an integral part of daily life for most people living in urban Thailand.From its humble beginnings in 1920s Dallas, Texas, where ice factory employee John Jefferson Green began selling milk, eggs and bread from an improvised store in front of the factory, it has grown to be the largest…
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Last Call: A love, loom affair with China
PHUKET: Often, one of the last interview questions to scientists or economic strategists is the ominous, almost motherly line: “What keeps you awake at night?”. In most cases the answer is obtuse and rarely what they call in submarine talk, a direct hit. In my own personal version of Groundhog Day [the blockbuster hit starring Bill Murray] – over and…
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Phuket International Boat Show and Royal Phuket Marina partner for five years
PHUKET: The Phuket International Boat Show (PIMEX) has secured its home for the future with the signing of a five-year host venue agreement with Royal Phuket Marina (RPM), the marine and luxury lifestyle destination on Phuket’s east coast. Having recently announced the dates for 2014 being moved to the popular January 9-12 timing, organisers say they are laying strong foundations…
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Island trade drops by nearly 60% since last year
PHUKET: Three-quarters of the way into the government’s current fiscal year, the island’s export-import industry is dwindling, particularly when compared to last year’s benchmark trading year. Phuket Customs House’ records through June 30 show that the value of exports in the 2013 government fiscal year (October 1, 2012 to September 30, 2013) so far, is just over 5 billion baht…
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Expat retirement: abroad vs home – Phuket Finance
PHUKET: If you have been an expat for a good portion of your adult or working life, you may be wondering whether to retire abroad or return to your home country to retire. However, before you decide to become either a permanent expat or a returnee, you will need to take into account the following considerations: Your Retirement Income The…
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Free seminar in Phuket to focus on overseas investments for expats
PHUKET: A free investment seminar focusing on portfolio management for expats living off the interest produced through their ventures will be held on July 25 at Loch Palm Golf Club.The seminar is being organized by one of the longest standing financial consultancies in Thailand, Montepelier (Thailand) Ltd. Leading the seminar for Montepelier Wealth Management will be Ron Keyte, who has…
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Phuket’s footy club turnover doubles
PHUKET: Ticketing and merchandising revenue for the island’s pro soccer club, Phuket FC, doubled year-on-year, while the club’s fan turnout has swelled by 93% during the same period. Now at the mid-season point, business seems to booming for the island’s pro soccer club, at least compared to this time last year when fan support for the club was dwindling. But…
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Phuket’s bulging market
PHUKET: In the latest drive to promote the island’s medical tourism industry, Bangkok Hospital Phuket (BHP) recently held an innovative “boob job” seminar. Entitled ” Breast Augmentation Using Contour Profile Gel Implant Live Surgery Workshop”, the seminar was attended by some 25 cosmetic surgeons from Asia Pacific countries, especially Thailand, Singapore, Malaysia and the Philippines Dr. Narongrit Havarungsi, BHP director,…
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Phuket Waste 101 – Dousing the burning issue
PHUKET: As you begin to read this article, try to recall your consumer decisions and habits today. Did you go to the convenience store? What did you buy? Was it put in a plastic bag? When you were done consuming, how did you dispose of your waste? What about lunch – did you have takeaway scooped into one of those…
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Thai smartphone sales ringing up big numbers
PHUKET: Smartphone sales in Thailand more than doubled in the first four months of 2013, a report by one of the world’s largest research companies reveals. The GfK Thailand office reports that communication consumer electronics went from being just one in every five handsets less than two years ago to more than two in five or 42% of overall unit…
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Phuket Business: A Swiss sip of homely bliss
PHUKET: Operators of hotels, restaurants, cafes and especially Swiss expats wanting a taste of home, can now purchase Caffe’ Chicco d’Oro and many other imported food products from Switzerland in Phuket. Patty Bamert together with Samai and Fredy Reutlinger, have recently opened their ‘Caffe’ Chicco d’Oro’ coffee and bistro shop in Kathu, serving the popular Swiss coffee brand of the…
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Phuket Business Feature: Hydroponics – a happy medium
PHUKET: Located about a kilometer west of Chao Fah West road, en route to the Big Buddha, the DN hydroponic farm is not the bustling business operation it might at first seem. “I can supply large orders, but this is really just a hobby,” insists Pakdee “Doo” Khruthanang. Ms Pakdee’s primary hat is running her business, West Coast Divers, which…
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AP Superyachts berths new office in Patong
PHUKET: Luxury boating firm Asia Pacific Superyachts (APS) Phuket is growing, reports General Manager Gordon Fernandes. “We’re pleased to announce our headquarters have moved to a brand-new, purpose-built office in preparation for the exciting times ahead as more yachts discover the amazing cruising available in Southeast Asia,” he says. While the new offices offer increased facilities and staff to service…
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Phuket Finance: One rotten apple can spoil the whole barrel
PHUKET: As of the middle of June, the portfolios of many active managers of both mutual funds and hedge funds alike were badly under-performing the benchmark Standard & Poor’s 500 index. In fact, and despite a bull market that had seen the S&P index climb about 16% since the start of the year, over two-thirds of active managers were missing…
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Phuket Property Watch: Big bang of luxury
PHUKET: Welcome to rainy season in Phuket. It’s Friday morning as I ponder the sound of rain pelting down on the roof and it feels almost as if I’m in Syria taking incoming fire. My life is that of a minimalist. Give me a black t-shirt, shorts and a well worn pair of Sanuks. No watch, no jewelry, just an…
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Phuket still on the map at TTM+ 2013
PHUKET: The island is still a top tourist hub in Southeast Asia, with a wide variety of hotels, resorts and hospitality-related businesses representing Phuket at 13th annual Thailand Travel Mart Plus 2013 (TTM+ 2013), held at the IMPACT Exhibition Hall in Bangkok recently. More than 800 delegates arrived from around the region to network with the 420 hospitality related organizations…
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PHUKET FINANCE: Don’t let a ‘wall of worry’ cut you off from a bull market
PHUKET: Although the economic numbers coming out of the United States are not exactly impressive, the S&P 500 has been hitting all time highs and at the end of April, was up some 14.5% since the start of the year, while gold, the ultimate investment of market contrarians, plunged the most in 33 years. In other words, the US stock…
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Phuket International Boat Show 2014 sponsorship opportunities
PHUKET: A number of commercial sponsorship and partnership packages are now available for the next Phuket International Boat Show (PIMEX), which will celebrate its eleventh anniversary next January. Sponsorship experts, Paul Poole (South East Asia) Co Ltd, will represent PIMEX 2014 in its drive to attract new sponsors and partners, offering several package tiers (click here for site). Andy Dowden…
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