With it still unclear whether the Democrat Party or the Pheu Thai Party will form the next Thai government, top figures in the Phuket tourism and real estate sectors say a return to stability is the key to restoring the local economy.
Tanan Tanphaibul, President of the Phuket Real Estate Club, says the Phuket business community is calling for a government that can restore economic and political stability. Businesses agree that the real estate and tourism sectors on the island have suffered from the double impact of a declining economy and the cancellation of visits to Thailand, particularly by foreign tourists.
The plummeting visitor numbers following the turbulent economic and political situation, coupled with the recent seizures of Bangkok's airports, has adversely impacted the island's tourism industry and that, in turn, affected the local real-estate business, he said.
Unlike other provinces, the real-estate business in Phuket relies very heavily on the tourism sector, he noted.
