11:53 pm - Friday September 30, 2016

Office of Commercial Affairs Phuket says Phuket’s overall economy is decelerating

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Boonya Chotipan, a staff member of the Office of Commercial Affairs Phuket, said that Phuket’s economy in July 2010 decelerated compared to the same period last year. Even though the island’s tourism and hospitality industry was recovering, there were other businesses that were slowing down. However the related government office and private sectors were helping to stimulate the island economy continuously.

For the agricultural business, the farmers got more income in July due to the increased prices of agricultural products caused by the previous dry season crisis. Moreover, the overall economic growth also affected the economic status in the island both in the short term and long term.

There were both positive and negative factors affecting economic growth in Phuket. The positive factors were economic stimulation by the government, the general recovering economy, the declining political problems, and the cooperation between government and private sectors to solve the problems. Meanwhile, the negative factors were still an unstable political situation, gasoline prices, and the dry season. Boonya predicted that Phuket’s economy would slow down next month since it was still in the low season.



Filed in: Features, Government


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