PUBLISHED: 4 Mar 2025 at 04: 00
The Phuket Chamber of Commerce is urging the private business to develop a new economic development plan to deal with the rise in local competitors.
Kongsak Khoopongsakorn, the panel’s president, claimed last week that Phuket experienced progress in local businesses and tourism last year despite challenges posed by international financial volatility and rapidly changing business trends.
He stated at the meeting that there have been recent technological advancements that have increased the potential of native companies through collaboration from all industries.
According to Mr. Kongsak, the county is working on projects to advance Phuket as a major economical, trade, and tourist hub this year.
Mr. Kongsak emphasized the need to alter a strategy in order to deal with the rise in interest rates, international economic slowdowns, and increased logistical costs.
He claimed that the US-China business conflict has had an impact on the number of Taiwanese tourists visiting the island. There were tools required to encourage China’s hospitality industry.
Phuket is also pushed to improve its quality and sales approaches by rivals from neighboring nations and territories like Vietnam, South Korea, Taiwan, and Indonesia.
According to him, Phuket is going through fundamental changes to become a modern economy. The island also has problems with its infrastructure, including inundation, water shortages, spend management, traffic congestion, and pollution.
Another issue is the level of knowledge and labor, which, according to Mr. Kongsak, are unable to keep up with the island’s fast growth.
The meeting, which took place on Friday, reviewed past accomplishments and hurdles from the previous year in order to grow Phuket’s business and achieve sustainable development.