Phuket economic news: tourism and trade gaining momentum

Phuket, the pearl of the Andaman Sea, is undergoing a strong recovery from the pandemic, showing positive momentum in the key economic sectors of tourism and trade.

Tourism: a return to former glory

Phuket has witnessed a significant increase in tourist flows since the lifting of restrictions on entry to Thailand. The number of visitors has steadily increased, especially from Southeast Asia, Russia, Europe and the United States. Tourists are once again enjoying the white sandy beaches, turquoise waters and the beauty of the tropical jungle.

The island is not just recovering its former positions, but is actively developing new directions in tourism. Ecotourism, medical tourism, active holidays – all these directions attract more and more tourists who want to spend time unconventionally and learn new facets of the island.

In addition to attracting tourists, Phuket is actively updating its infrastructure: transport system, restaurants, shops, entertainment facilities. All this is done in order to meet the growing demands and expectations of the modern tourist.

Shopping: new horizons

Phuket has seen an increase in retail sales with the rise in tourist arrivals. The goods in highest demand are souvenirs, clothing, jewellery and food.

Island businesses are actively exploring online platforms to expand their customer base and increase the availability of goods. This allows them to sell their goods not only to tourists, but also to locals and customers from other countries.

The emergence of new business models, such as online marketplaces and direct delivery, provides a closer link between buyer and seller, shortening the supply chain and reducing costs.

Challenges and prospects

Despite the positive momentum, Phuket faces certain challenges:

Competition: The island is in stiff competition with other popular tourist destinations. Phuket needs to constantly offer new and unique offerings to remain attractive to tourists.

Prices: Rising prices of goods and services may deter some tourists, especially those on a tight budget. It is necessary to find a balance between affordability and quality of services in order not to lose appeal to different categories of travellers.

Sustainable development: It is important to develop tourism and trade in an environmentally and socially sensitive manner to preserve the island’s unique character and ensure its long-term prosperity.

Phuket is well on its way to recovery and prosperity. Growth in tourism and trade is creating new business and employment opportunities. However, to maintain the positive momentum, it is necessary to recognise the challenges and focus on sustainable development.

Phuket, with its rich culture, picturesque scenery and developing infrastructure, is ready to welcome tourists and investors, offering new opportunities for leisure, business and investment.