Business News
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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 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: 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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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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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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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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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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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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Dewa Phuket wins 7 awards
PHUKET: Dewa Phuket, the boutique resort at Nai Yang beach, bagged seven awards at the ‘2011–2013 Hospitality Asia Platinum Awards’, or HAPA. The HAPA Southeast Asian regional ceremony, which took place on November 17 and 18 in Singapore, welcomed hospitality sector representatives from Thailand, Singapore, Indonesia, Malaysia, Vietnam, and the Philippines. Created by World Asia Publications in 2002, HAPA recognizes…
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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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THAI Phuket flights operating as usual
PHUKET: Thai Airways International (THAI) is still operating its full schedule of regular flights between Bangkok and Phuket – for now. An officer from the ‘Enterprise Communication Department’ of THAI, asking not to be named, told the Phuket Gazette, “I have yet to receive any news about reductions in flights to Phuket.” Her statement was in response to a report…
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Luxury car imports into Phuket steady
PHUKET: Despite global economic turmoil, the luxury car import business continues to perform well in an expanding domestic market. Saksri Kerdphol, General Manager of Phuket’s premier foreign automobile dealer and servicer AutoExpress, speaks exclusively with the Gazette about foreign cars and the import market trends in Phuket.Phuket Gazette: How would you describe AutoExpress clients? Who is your main target group…
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Phuket Tourism Update: TAT mounts global push
PHUKET: The Thai Hotels Association (THA) and the Tourism Authority of Thailand (TAT) will kick off a global campaign in December to woo back tourists to Phuket and other destinations in the aftermath of the flood disaster.The campaign is set to run from December 15 until January 15, 2012, with THA members across the country, mostly three and four star…
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Phuket urged to prepare for “Korean wave’
PHUKET: As the Andaman Travel Trade 2011 expo continues today at Phuket Rajabhat University, Korean honorary consul Tossaporn Thepabutr has warned local officials to prepare for a huge 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…
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Phuket’s Andaman Travel Trade expo draws thousands
PHUKET: Thousands of visitors turned out for the opening day of the Andaman Travel Trade 2011 yesterday. The bustling event, held with the aim of linking tour operators with businesses throughout Thailand’s six provinces along the Andaman seaboard, continues today at the Convention Hall at Phuket Rajabhat University. Attending this year’s event are 302 tourism operators from 28 countries and…
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Island View – Fighting for British pensions in Phuket’s paradise
PHUKET: Your signatures are needed to end the unfair frozen overseas pension policy of the British government. Some of you may not be aware that when a United Kingdom state pensioner retires to live abroad in certain countries their pension is frozen and they do not receive annual cost-of-living increases. There are over half a million of these pensioners affected…
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Phuket Lifestyle – jury is still out on litigation funding
PHUKET: One very exciting new asset class available to individual investors that I have been looking into is litigation funding. When I first heard about some notes attached to this I thought it sounded too good to be true and dismissed it, but as sometimes is the case, extraordinary opportunities can arise. The asset class is currently only accessible via…
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