Stories tagged with business
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Bottom falls out of amulet market
Visitors to Chiang Mai over the past year have undoubtedly noticed many of the locals walking around with amulets hanging from their necks. Gaudy, garish and just gaudy, yes- but those strange amulets reminiscent of countless previous fads past were for a time very serious business. The bubble is all but burst at this point, and the trinkets that were sometimes fetching up to three quarters of a million dollars are now essentially worthless.
So how could this get to be such big business? The amulets have been around to some degree for the past 20 years, but have been fairly low key, but when the Jatukam Ramathep namesake, who some say is a Hindu god and some say is a 17th century king, came under the eyes of a fundraiser, things changed.
It was a Policeman wanting to raise money for a Buddhist cause that began selling the amulets bearing the figure of Jakutam Ramathep that had been blessed by Buddhist monks. The amulets became reputed to ward off evil spirits and even bring prosperity. The perfect scam for a superstitious lot.
After the authenticity of many came under scrutiny, the bottom fell out of the business. Now tourists in Chaing Mai are less likely to see big banners selling the talismans, and will have to wait for the next bizarre trend to surface to amuse them.
Posted by: DaveB on 11 Apr 2008, 10:58 -
Phuket lobbies to host dive conference
The World Diving Association is shopping around the world’s best dive sites to choose a location for their upcoming conference, and both the Tourism Authority of Thailand and the Thailand Diving Association are pushing hard to bring the conference to the island of Phuket in southern Thailand.
The director of the southern office of the Tourism Authority of Thailand Suwalai Pindradep says, "[The world diving association] will have a meeting to choose the venue and one possible venue could be Egypt. We must show our readiness to beat the opposition. We believe Phuket should be chosen. It's important because Phuket, Phang Nga and Krabi have many important dive sites."
Phuket and the dive sites within its reach are some of the best and most popular dive sites in the world, bringing in over 100 million baht to the country every year. The island’s credentials aren’t the issue for hosting the conference however, as even now there aren’t enough hotel rooms and flights to the island for the number of tourists coming, let alone a delegation of conference participants.
Posted by: DaveB on 06 Apr 2008, 17:18 -
New Laws may Restrict Foreign Businesses
Thailand, the country known as the Land of Smiles, is considering legislative amendments that may restrict the ability of foreigners to live and work in the country. Although the law and the attitude behind it, is unlikely to affect the average short-stay tourist to the country, they do reflect a deeper feeling to foreigners than is portrayed in the average sunny smile.
In the past seven months, the government has taken a tougher stand on tourist visas which are often abused by long-stay retirees and expatriate workers. In January, a bill was first proposed which, if approved, will restrict the operations of many foreign companies.
“There’s been a trend that suggests rising economic nationalism,� said Thitinan Pongsudhirak, a professor of political science at Chulalongkorn University.
Although the average person in Thailand certainly welcomes tourism in the country, those who have been exposed to foreigners who are not tourists in Thailand often have stronger feelings on the subject.
“We are getting a lot of weird retirees here,� Vongthip Chumpani, an adviser and former vice president of Bangkok Bank, said. “They can’t survive in your country so they come here.�
Vongthip also feels strongly about the former Prime Minister Thaksin Shinawatra’s policies regarding foreign investment. Prior to the coup which removed him from power in September, Thaksin was busy negotiating a number of free-trade agreements with countries such as China, Japan, Australia and the United States.
“We bent over backward all the time to accommodate foreign investors,� Vongthip said.
The new law may force some companies such as Federal Express, to relinquish control of their operations in Thailand, with more power and privileges being transferred to Thai-owned companies. Other companies, such as Carrefour, may be banned from expanding their operations in the future. And property purchases by thousands of non-Thai born people could be declared illegal.
The Foreign Business Act amendments have already been accepted by the Thai cabinet and are now undergoing a review process by the Council of State.
Thailand, a country with a population of 64 million, hosts approximately 15 million tourists every year, with numbers growing each season. Often gross disparities are evident between local residents and expatriate residents.
“In years past we’ve always targeted numbers: trying to achieve the highest numbers of arrivals possible,� said Chattan Kunjara Na Ayudhya, a spokesman for the Tourism Authority of Thailand. “It’s time to change. If we continue to focus mainly on numbers, some destinations will not be able to handle that many people.�
Posted by: Jen on 07 Nov 2007, 12:25 -
Central Planning
According to President Yuwadee Chirathivat, Central Department Store Co. Ltd., Thailand's largest retail chain, will make a major investment to renovate its Bang Na and Pin Klao branches. New branches in Chaeng Watthana and Pattaya will be opened in the next 2 years, but the company's focus will mainly be on improving their existing stores, introducing innovations from the flagship Chidlom store. The Bangkok Post has more details.
Posted by: Toony on 21 Jun 2007, 09:55 -
Thailand's New Airport Rolls New Technology
Computer Business Review Online carries a report about Thailand's Suvarnabhumi Airport's plans to implement RFID and Barcoding in the central Cargo Free Zone to imporve efficiency in cargo and baggage handling. Visith Somboon, president of AMR Asia Company, the contractor and systems integrator, gave some details about the choice of RFID systems and implementation.
Posted by: Toony on 21 Jun 2007, 08:34 -
Thailand the Largest Market for Acer Notebooks
Managing director of Acer Computer Thailand Harry Yang says the that Thai notebook market is growing strongly. The company expects to sell 35,000 units this month, including 15,000 through Commart. They have recently rolled out 22 new models in two dsitinctive designs, the Aspire Gemstone and TravelMate Profile. Thailand is now the largest market for Acer notebooks. Here's more details from ZD Net Asia, courtesy of the Bangkok Post.
Posted by: Toony on 20 Jun 2007, 13:04 -
Spa Company Diversifies with Residential Developments
Thai Privilege Spa Healthcare Co will invest 3 Billion Baht in boutique spa projects and in diversify its business to include exclusive housing developments. They are currently developing a boutique villa and spa in Khao Lak. Other projects include residential developments in Phuket and a five-star hotel. The Bangkok Post has details from Surangrat Chirathivat the company's owner and chief executive.
Posted by: Toony on 18 Jun 2007, 11:26 -
Cambodian Prime Minister in Japan
Yahoo News carries the news that Cambodian Prime Minister Hun Sen arrived Japan late Wednesday to visit Prime Minister Shinzo Abe. He is keen to move Cambodia's economy beyond reliance on donor handouts, and is seeking more foreign direct investment from Japan, a long-time supporter. Yahoo News has the full AFP story.
Posted by: Toony on 14 Jun 2007, 09:23 -
CB Richard Ellis to Open Offices in Pattaya and Koh Samui
Aliwassa Pathnadabutr, managing director of CB Richard Ellis (Thailand) told the Bangkok Post that consultant CB Richard Ellis plans to add two more branches in Pattaya and Koh Samui within this year. The company is a leading international property consulting firm and is the major lessor of office space in Bangkok.
Posted by: Toony on 12 Jun 2007, 09:20 -
Cambodia Labour Law Changing
According to People's Daily Online, the Cambodian National Assembly has enacted several amendments to local labour laws aimed at creating 150,000-200,000 new jobs and stimulating foreign investment. One of the amendments see a reduction of nightshift salaries from a 100% to a 30% premium, supposedly to improve competitiveness with neighbouring economies. Cambodia's fledgling economy is looking to begin gas and oil production before long.
Posted by: Toony on 08 Jun 2007, 11:38 -
eBay to Partner with Local Operator in Thailand
eBay Inc has reached an agreement with a Thai website operator, Sanook, to launch a new ecommerce site in Thailand. According to research firm IDC, the number of Thai internet users is expected to grow at 25 percent each year through 2009. The Thai-language site is expected to launch in approximately five to seven months, and will be cobranded. IT News Online has more details.
Posted by: Toony on 28 May 2007, 16:04 -
Upcoming World of Food Asia 2007
Predictions by one organization suggest that Asia Pacific and Central Asia will grow to comprise 41% of the global food retail market in 2020. And China is set to become the world's second-largest food retail market by that year as well. The Bangkok Post carries these and other food business morsels.
Thailand is about to host a major international food exhibition, dedicated to the international business of food production, transport and consumption. All major food supply chain participants will be represented, including producers, shippers, caterers, importers and food technology and service organisations. Thaifex World of Food Asia is scheduled for 23 - 25 May 2007 (Trade) and 26 - 27 May (Public).
Posted by: Toony on 23 May 2007, 10:31