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Phuket’s Economy

Phuket Economy

Phuket has the second highest per capita income of any province in Thailand outside of Bangkok. Tourism has dominated the island’s economy for the past two decades. Each year, over 3 million visitors arrive to enjoy Phuket’s natural splendor and many amenities.

For much of its history, Phuket’s economy was based on tin mining. Since the fall in the demand for tin in the 1980s and restrictions placed upon tin dredging to protect the coastal waters, the industry’s importance has greatly declined.

Rubber became an important part of the local economy at the beginning of the twentieth century when large areas of rainforest were cut down to make way for rubber plantations, many of which can still be seen on the island.

Other contributors to the local economy include: Pearl farms; Agriculture and horticulture in the form of coconuts, cashews, tapioca, cacao, rice and pineapple; prawn farming, and the processing of marine products.

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