Business News
Thailand business news, market trends, foreign investment, and economic updates—stay informed on stock market movements, entrepreneurship, and key developments shaping the economy. Get the latest from The Thaiger, your trusted source for business news in Thailand.
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Sponsored How to reduce out-of-pocket medical expenses in Thailand?
Managing medical expenses in Thailand is important as healthcare costs continue to rise. The country’s healthcare system includes both public and private options, but even with the Universal Coverage Scheme (UCS) for citizens, many still face high out-of-pocket medical expenses....
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Phuket Investor: The last time the markets were here
PHUKET: I recently read a report that had a comparative list of statistics from the last time the stock markets were up at these levels, which was just before the crash at the start of the financial crisis. Early this march, the DOW reached a previous high level of 14164.5 and then surpassed that level. I thought it might be…
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Phuket Business: Replicating your life savings
PHUKET: The new hot sector for technology investors is in the rapidly growing 3D printer business. 3D printing is the process of making a three-dimensional solid object of virtually any shape from a digital model. 3D printers use a 3D CAD (Computer Aided Design) file to create objects using a sequential layering process. This technology is used in jewelry; footwear;…
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Phuket Business: Head of airport expects arrivals to exceed 10.5mn
PHUKET: The director of Phuket International Airport (HKT) expects passenger arrivals to exceed 10.5 million by the end of this year, with related profits expected to be no less than two billion baht. HKT director Prathuang Sorn-kham said that the airport is fully prepared to provide increased conveniences for passengers ahead of the its 5 billion baht expansion project, due…
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Phuket Business: US tax regime – Comply or else…
PHUKET: At a US tax seminar held last month at the Holiday Inn, Patong, by the American Chamber of Commerce (AMCHAM) Phuket Chapter, American income earners and business operators were given a comprehensive update about the US tax regime’s reporting requirements and regulations. Two previous articles about the seminar – published in the Business section of the Phuket Gazette on…
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Phuket’s Autoexpress remains in driving seat
PHUKET: Demand on the island for imported luxury cars does not look like it will subside any time soon. Saksri Kerdphol, GM of Autoexpress, Phuket’s premier foreign automobile dealership and service provider, gives a brief update about local market trends. This is followed by some customer testimonials. Phuket Gazette: What is the current state of the auto luxury import market…
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Singaporean investor sniffs out tuna ops in Phuket
PHUKET: An investor from Singapore has expressed interest in expanding Phuket’s Tuna industry through the establishment of a new commercial longline fishing partnership with local operators. Phuket Governor Maitri Inthusut, along with Vice Governor Somkiet Sangkaosut-tirak, last week welcomed the Singapore-based businessman, Yong Juang, who came to the island to discuss investment guidelines, regulations and laws. Mr Yong Juang is…
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Phuket Business: Ideas bounced around at rubber meeting
PHUKET: A three-day rubber industry convention and study-tour event wrapped up in Thalang recently. The meeting/event, dubbed “ASEAN Rubber Day 2013”, brought together industry experts, operators and researchers from Thailand, Malaysia an Indonesia. Organized by the Ministry of Agriculture and Cooperatives, the meeting was part of a private-public collaborative effort to create greater investment opportunities for the rubber industry, as…
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Phuket Business: The not-so-hidden cost of inflation
PHUKET: If you are an expatriate living in Thailand or considering relocating here, high inflation might be a distant memory from as far back as the late 1970s. However, Thailand has much higher rates of inflation than is seen in most developed countries, and you will need to consider that when you invest and prepare a budget for your Thai…
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Phuket Finance: Note the contrarian investor
PHUKET: Contrarian investors are those who generally do the opposite of what the majority do. There are many forms, but basically they can all be summed up by the old Wall Street adage, “Buy Low, Sell High.” As simple and as logical as this advice sounds, in practice the majority of investors in fact do the opposite. The lonely contrarians…
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The rise of technical goods
PHUKET: The Technical Consumer Goods (TCG) market in Thailand last year saw positive annual growth in six out of seven sectors tracked by a recent regional market survey. The strong growth of TCG, which includes everything from smart phones, cameras, washing machines and cooking appliances, to TVs, tablets, air coolers and office equipment, was highlighted in a recent survey and…
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Tesco shopping online
PHUKET: Leading domestic hypermarket chain Tesco Lotus last week launched online grocery shopping and home delivery services for its customers in Bangkok. Asked if the retail giant had plans to launch such services in Phuket, Ms Salinla Seehaphan, Corporate Affairs Director, revealed that: “Our plan is to offer a convenient online grocery shopping service to all of our customers in…
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Phuket gets first Evolution Cinema Planetarium in Thailand
PHUKET: Island residents and tourists alike earlier this week welcomed the opening of the Evolution Cinema Planetarium, a new ‘edutainment’ attraction in Phuket Town. Located in front of Central Festival Phuket’s main entrance, the new mobile cinema planetarium is the first of its kind in Thailand. “The Evolution Planetarium is the newest generation of visualization systems for entertainment and studying,…
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Phuket Finance: Buy Priceline and book your visa run
PHUKET: Just the other day I had a client ask me how he can save some money on his next visa run. He wants to explore more of Southeast Asia and has gotten tired of making the usual trip to Cambodia, Laos or Kuala Lumpur. That’s when I told him about Priceline.com. Priceline (PCLN) is the famous “Name Your Price”…
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Phuket Business: Job fair expected to fill 30% of vacancies
PHUKET: Of the 6,000 job vacancies offered through the “e-jobs@Phuket 2013” job fair held recently at Phuket Rajbhat University, only 118 positions were immediately filled, the Phuket Gazette has learned. Phuket Provincial Employment Office chief Yawapa Pibulpol said that a total of 1,578 job applications were submitted. Of these, she said 548 were submitted at the fair itself, while the…
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Phuket Business: B28bn worth of 20-baht notes to get exchanged
PHUKET: As part of the Bank of Thailand’s (BoT) policy to make its banknotes more modern and user friendly, 4 billion baht worth of new series-16 20-baht banknotes are being put into circulation. Until now, the Kingdom’s lowest-value, yet most widely used banknotes have not been fraud-proof in synchronizing with electronic finance machines. “The new design incorporates a range of…
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India travel delegation arrives on inaugural Mumbai flight
PHUKET: Laguna Phuket hosted a welcome lunch for Indian travel agents, media, Tourism Authority of Thailand (TAT) executives and airline representatives who traveled on the inaugural Thai Smiles flight from Mumbai on Thursday (April 4). The lunch at Banyan Tree was hosted by Ziya Birkan, deputy managing director of Laguna Phuket. The travel agents later attended a business-to-business conference organized…
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UK’s residency law changes may affect Phuket’s expats
PHUKET: With the Finance Act 2013, the UK is making changes to the statutory residency laws, which may affect some expats living in Phuket. It is well worth taking the time to review the changes if you are one of those who have just left the UK or who, and although you reside in Phuket, you maintain significant ties to…
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How Phuket expats can cut their investment costs
PHUKET: If you are like many expatriates in Phuket, or indeed across Thailand, you have probably failed to realize the impact trading or investment fees can have on your portfolio’s return, as such costs are often hidden and can quickly add up over time. In a rising market, these costs may not be so noticeable; but in a stagnant or…
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Phuket Gazette Business: US tax regime to scrutinize taxpayer bank accounts
PHUKET: In light of the ‘federal fiscal fiasco’ in Washington DC – to the tune of nearly 17 trillion dollars – the American government is looking to expand its worldwide tax base. As such, US citizens and green card holders conducting, contracting or controlling business operations in or from countries outside the US, including Thailand, need to ensure consistency and…
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Phuket Business: Thai football market value to triple by 2017
PHUKET: Thailand-based sports media corporation, Siam Sports Syndicate Pcl, has set a five-year target for the value of the Kingdom’s professional football market to grow by 300%.VIPs from Thailand’s professional football leagues met last month in Bangkok to sign a five year licensing management and administration agreement for the broadcasting and promotion rights, and work out benefits of the lucrative…
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Honda’s BigWing takes off in Phuket
PHUKET: Honda’s BigWing dealership announced its arrival in Phuket yesterday with drum rolls and engines roaring, as the island’s biking community were eager to get their hands on the latest offerings from the Japanese giant. Following their successes in Chiang Mai, Pattaya, Udon Thani and Bangkok, the island was the natural choice for the brand’s expansion into Southern Thailand. Honda…
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CB500x gets new Phuket wings
PHUKET: Bike lovers are anticipating the new Honda BigWing motorbike dealership and showroom, set to open its doors in Phuket on Thursday (March 28). A Honda sales representative told the Phuket Gazette that the dealership has already received many inquiries and reservations. “Since the beginning of the year CB500X has been the talk of the town not only amongst the…
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Phuket Business: You can run, but you can’t hide
PHUKET: In light of the ongoing ‘federal fiscal fiasco’ in Washington DC, the US tax regime is looking to grow its global revenue pool, with American expats residing in places like Phuket high on the list to be scrutinized. Recently a group of American taxpayers gathered in Phuket for an informative yet dreaded update seminar about the latest income reporting…
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Phuket Business: Why Google is still the best
PHUKET: The word ‘Google’ is a household name, synonymous with the word ‘search’ or even ‘research’ for most people around the world. The name itself originated from the word ‘Googol’, coined by Milton Sirotta, meaning the number 1 followed by 100 zeros; basically an extremely large number. It represents the vast universe of information that Google makes available to the…
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Phuket’s scrap yards cleaning up
PHUKET: As part of a campaign to raise awareness about pollution, and thus reduce it, the Phuket Environmental Office is conducting appraisals of the island’s antique shops, warehouses and old household item scrap yards. So far, a total of 39 businesses on Phuket have been targeted by the government campaign, which looks to certify related operators as a “Green Antique…
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Phuket Business: Three more subdivisions get approval
PHUKET: A recent Phuket Land Subdivision Committee (PLSC) meeting gave provisional approval for three Land Subdivision Permit (LSP) applications, while denying another application. Chaired by Phuket Vice Governor Chamroen Tipayapongtada, the PLSC’s first meeting this year was held on March 5 at the Phuket Land Office. Among the topics addressed in the meeting was the review and consideration of four…
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Phuket Pearl’s crowning achievement
PHUKET: Phuket Pearl Group was selected to design and make the tiara for this year’s Miss Thailand World beauty pageant finalist, who will be crowned on April 9 in Bangkok. Mr Amorn Intha-charoen, president of the Phuket Pearl Group, revealed that his company was selected to design the crown as part of a competition that was organized by Thai TV…
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Reflecting on currency exposure
PHUKET: If you are a long-term expatriate living in Phuket, Thailand, you have probably seen the Thai baht appreciate significantly against your home currency – a trend that will likely continue for the foreseeable future. This appreciation (along with an average inflation rate of 2.7% since 2000) makes it increasingly expensive to live in Thailand at a time when you…
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Phuket Business: A land of opportunity
PHUKET: The island emerged last year as Thailand’s strongest hotel market, according to a recent report by Jones Lang LaSalle. The report, entitled Spotlight on Thailand – Hotel Investment Market said that as of December 2012, year-to-date (YTD), Phuket had an occupancy rate of 72.4%. Meanwhile, it said that the Average Daily Rate (ADR) was 3,902 baht, which resulted in…
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Phuket Business: French ambassador to boost SMEs
PHUKET: The new French Ambassador to Thailand, Thierry Viteau, made his first visit outside of his station in Bangkok recently to discuss in Phuket the need to strengthen relations in the tourism market. “Phuket and Nice in France have been ‘sister cities’ since 1989; I want to take this opportunity to re-strengthen and renew our relations,” Amb Viteau, who assumed…
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