TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

C9 Hotelworks Release Phuket Economic Report

Category: Tourism, Posted:30 Aug 2015 | 12:07 pm

Tourism directly accounts for 35.6% of Phuket's economy according to a new report released by hospitality consulting firm C9 Hotelworks. Whereas the sector is the leading indicator of GPP (Gross Provincial Product), the reality is that once you add in the expanded influence over other components that make up the island's GPP, the reality is that well over half of the Phuket economy is derived from tourism.
In C9's just released Phuket 2015 Economic Overview the inflation rate of 4.1% for the full year 2014 well outpaces the national average including Bangkok. Despite a rise in the cost of living, the report points out that rising inflation is directly linked to the island's economic growth and there remains considerable upside in both basic necessities and discretionary spending of Phuket residents.
Aside from tourism, real estate accounts for 4.5% of GPP. Viewing the current incoming pipeline of new luxury villa estates such as the newly launched Avadina Hills, Anantara Residences Layan Beach, Andara Signature and Point Yamu by Como there are a string of multi-million dollar projects such as Rosewood and MontAzure in the works. C9 has forecasted the value of the incoming and launched luxury properties for sale at an amount exceeding USD500 million. What is evident from the data is that both domestic and foreign investment sentiment in the island remains strong.
To read the full report <link>http://issuu.com/thephuketinsider/docs/c9-phuket-economicoverview_aug2015_*CLICK</link>

Other News

Read more

Eat, Pray, Sleep Bali-Style. How I Escaped the Box

Category: Hotels, Posted:28 Nov 2022 | 14:20 pm It’s been nearly thirty years since luxury hospitality innovator KP Ho and Banyan Tree took hotel guests out of the box and into their own private villa with a swimming pool in Phuket Thailand. At the time, the idea was radical, captivating, and edged over the boundary of hospitality norms. Fast forward to 2022 and […]
Read more

Patong Hotel Affiliates With IHG’s Vignette Collection

Category: Hotels, Posted:16 Nov 2022 | 08:46 am Phuket’s hotel sector is seeing a renewed push in brand affiliations. The latest is Patong’s Dinso Resort’s tie-up with IHG’s (InterContinental Hotels Group) Vignette Collection. Dinso features 148-rooms and 28 themed pool villas. Branding to Vignette will come into effect by mid-2023.
Read more

Minor Signs Phuket Resort, First NH Branded Hotel In Asia

Category: Hotels, Posted:15 Nov 2022 | 08:10 am Makings news in Phuket is the signing by Minor Hotels of their first NH-branded property in Asia. The 270-room Boat Lagoon Resort has been converted and is now operated by NH. NH is part of Minor Hotels and has over 330 properties in Europe and the US. Under Minor, the Anantara brand has been expanding […]
SiaJai logo

Thailand's Leading Homecare Marketplace