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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Tourists from Taiwan to Phuket to double in 2012: PTA
PHUKET: The number of Taiwanese tourist arrivals in Phuket this year is expected double last year’s figure, a senior government official has announced.Paiboon Upatising, currently caretaker president of the Phuket Provincial Administration Organization (OrBorJor), said that the island can expect up to 100,000 Taiwanese arrivals in 2012 – compared with 50,000 last year.The projections were announced following the “Phuket Road…
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Illegal Phuket migrant workers get five-month reprieve
PHUKET: More than 20,000 unregistered migrant workers in Phuket now have until mid-June to register with the government, thanks to a Cabinet resolution earlier this month extending the deadline by five months. The extension gives employers time to obtain two-year work permits for unregistered alien workers from Burma, Laos and Cambodia, said Phuket Provincial Employment Office Chief Noppadol Ployudee. Workers…
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Phuket tourism shrugs off Bangkok blasts: PTA
PHUKET: The recent bombings in Bangkok have not resulted in cancellations of hotel bookings in Phuket and the island’s tourism industry prospects for 2012 remain strong, the Phuket Tourist Association (PTA) has announced. Barring a “major incident”, Phuket can expect to have strong tourist arrival figures from both Europe and Asia throughout 2012, PTA President Jirayus Somboon told the Gazette.…
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Phuket business: Inflated eats; Flower sales bloom; Kata – Karon branded green; Taiwan bar raised
PHUKET: In light of the continuously rising cost of living, accounting books of rice and noodle vendors across Phuket and Thailand could become subject to increased audits this year. As of yesterday the Department of Internal Trade (DIT) issued official price cap suggestions for 10 common Thai menu items to be priced under 35 baht. These include rice dishes served…
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Phuket business: FC Phuketonomics: ball business
PHUKET: Despite having nearly been dissolved due to swelling debts, FC Phuket 1688 Co Ltd generated the fifth highest turnover out of 18 Division 1 clubs, statistics released by the Thai Premier League (TPL) have revealed. Concluding last month, the 2011-2012 season’s tallied receipts show that the Southern Sea Kirin had generated more than 2.8 million baht, which equates to…
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Phuket business: Skyscrapers and economic woe
PHUKET: There’s an economic-cycle theory based on the link between the building of skyscrapers and economic strife. Guess what it’s called? Correct: the Skyscraper Index. While many trends and theories these days are based on cycles, this economical theory is based on the completion of skyscrapers. So what is this theory and does it have any credibility? Let’s first unravel…
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Chinese government eyes interest in Phuket light rail
PHUKET: A state enterprise from the People’s Republic of China is the latest party to express interest in investing in Phuket’s light-rail project.An administration and engineering team from Mashucon Co Ltd announced the news in a meeting with Phuket Governor Tri Augaradacha at Provincial Hall yesterday afternoon.Executive Chairman Nopphon Tansakul told the governor that his team came on behalf of…
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Phuket Business: Toyota Sure opens shop
PHUKET: With so many new cars hitting the streets, the island’s used car and trade-in market is rapidly growing – particularly good news for car owners having second thoughts about a recently purchased or leased vehicle. Benchmarking market growth, Phuket’s Toyota Pearl recently held the soft opening of Toyota Sure, the brand’s renowned second-hand car dealership, located off Chalermprakiat (Bypass)…
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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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Phuket Business: Cool solutions to cut costs
PHUKET: Despite rising energy prices and the scorching heat outside, home and business owners in Phuket can reduce their electric and utilities overheads by taking advantage of the latest energy saving innovations. Up until recently, Phuket’s green energy market has been supplied with only a limited offering of environmentally friendly technologies and energy saving solutions. Notably, a handful of key…
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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: White-collared workers to gain from boom
PHUKET: The local work force and overall economy of Phuket stand to benefit from the ensuing boom in real estate, an executive of a major real estate developer has said. Speaking exclusively with the Phuket Gazette, Suriya Wannabuit, Executive Vice President of the Project Management and Marketing Department of Sansiri Pcl, shared his thoughts about the local economy. “Locals don’t…
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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 “fully booked’ for Korean, Chinese New Years
PHUKET: Local tourism representatives are expecting hotel occupancy rates of 90 to 100% across Phuket during the upcoming festive period. Most tourist arrivals to Phuket at the end of January will come by direct flights from China and Korea, said Somboon Jirayus, Presdient of Phuket Tourist Association. “In addition to Seoul, Hong Kong, Taiwan and Singapore, there are currently about…
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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: Trade, investment and green innovation on the up
PHUKET: Trade in Phuket flourished in 2011, while prospects for new investment and ground-breaking, eco-friendly innovation on the island are looking quite good in the year ahead. The latest 2011-2012 import-export figures released by the Phuket Customs House indicate that the island’s economy continued to grow over the past several years – mostly thanks to one viable yet heated commodity.…
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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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