Economy
Tin mining has been a major source of income for the island since the 16th century. Chinese businessmen and Chinese workers were employed in the mines. Most were Hokkien Chinese, and their influence on Phuket culture and cuisine can still be felt today. With falling tin prices, the mining has now all but ceased. In modern times, Phuket's economy rests on two pillars: rubber tree plantations (making Thailand the biggest producer of rubber in the world) and tourism, with a thriving diving industry attracting thousands of divers each year.
Since the 1980s, the sandy beaches on the western coast of the island have been heavily developed into tourist centers, with Patong, Karon and Kata being the most popular ones. Since the 2004 Tsunami, all damaged buildings and attractions have been restored. Phuket is currently going through an intensive period of leisure urbanization with many new hotels, apartments and houses under construction. In July 2005, Phuket was voted one of the World’s Top 5 retirement destinations by the acclaimed Fortune Magazine. There are thousands of expatriates living in Phuket, many of them retirees..
Read more about this topic: Phuket Province
Famous quotes containing the word economy:
“Even the poor student studies and is taught only political economy, while that economy of living which is synonymous with philosophy is not even sincerely professed in our colleges. The consequence is, that while he is reading Adam Smith, Ricardo, and Say, he runs his father in debt irretrievably.”
—Henry David Thoreau (1817–1862)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)
“I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we prudently save means that their life will be so much the more abundant. Economy is idealism in its most practical terms.”
—Calvin Coolidge (1872–1933)