Tourism master plan a critical step to island moving forward and Phuket’s economy heavily relies on tourism; In 2019, the accommodation and food services sectors made up nearly 50% to its total GPP.

Due to the negative impact of the COVID-19 outbreak on tourism, the critical economic questions facing the island remain is it too big to fail, and is it time to diversify industries?

With over 80,000 registered accommodation keys in Phuket, restoring overseas travel is a lever towards injecting cash flow into the tourism sector and stabilizing businesses.

Looking beyond tourism, other key demand generators such as international schools and hospitals, real estate and the marine industry are key contributors to the island’s economic profile and have the opportunity to tap broader demand.

Phuket’s economy rewinds as market set to go back to the basics Phuket’s economy for the remainder of year will rely primarily on the resilience of its tourism industry.

In the longer term, the island’s immediate need of a comprehensive tourism master plan is a recurring challenge that must be addressed. A rise in public private partnerships over the next two to three years is expected, which possibly could be tapped to fund infrastructure development.

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Bill Barnett Managing Director, C9 Hotelworks Company Limited 9 Lagoon Road, Cherngtalay, Thalang, Phuket, 83110, Thailand (Office located at the entrance of Laguna Phuket) T: +66 (0)76 271 535 / F: +66 (0)76 271 536 info@c9hotelworks.com / www.c9hotelworks.com