Phuket

Phuket business community pleads for stability

Published

Tuesday, December 9, 2008 12:12

PHUKET: With it still unclear whether the Democrat Party or the Pheu Thai Party will form the next Thai government, top figures in the Phuket tourism and real estate sectors say a return to stability is the key to restoring the local economy.

Tanan Tanphaibul, President of the Phuket Real Estate Club, says the Phuket business community is calling for a government that can restore economic and political stability. Businesses agree that the real estate and tourism sectors on the island have suffered from the double impact of a declining economy and the cancellation of visits to Thailand, particularly by foreign tourists.

The plummeting visitor numbers following the turbulent economic and political situation, coupled with the recent seizures of Bangkok’s airports, has adversely impacted the island’s tourism industry and that, in turn, affected the local real-estate business, he said.

Unlike other provinces, the real-estate business in Phuket relies very heavily on the tourism sector, he noted.

The new government must be able to restore investor confidence and tackle the ongoing political conflict, he added.

Bhuritt Maswongsa, Vice President of the Phuket Tourist Association, says the number of tourists visiting the island has dropped by 50% due to the political turmoil and the recent airport closures. Many tourists have canceled bookings due to concerns about their security, he says.

Regarding the formation of a new government, Mr Bhuritt says he needs to see stability, which could restore confidence among tourists and investors, as well as Thais, and bring unity to the country.

The association’s members have discussed the measures they would propose to the government to solve the problems facing the island, including a request for soft loans to improve Phuket’s economy and a project for restore the island’s image as a tourist destination.

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