Economy
The local economy in the town is based on the tourist hotels, local shops and restaurants, and the diving trade. Most of the foreign tourists are European, many from Scandinavia, Germany and the United Kingdom. The wider area produces significant quantities of natural rubber and palm oil; there is also a small amount of subsistence agriculture.
Following the tsunami of December 2004 (see below) the local economy was devastated as it was in nearly all coastal towns hit by the waves. It is estimated that 60 percent of the resorts were mid-construction, with nearly 4,000 rooms already available. Most coastal resorts were either heavily damaged or completely demolished, resulting in a great loss of life and a major setback to the local tourist economy. At the time of the tsunami, Khao Lak was Thailand's fastest growing tourist destination.
Khao Lak's infrastructure and economy have bounced back. Coastal resorts have been reconstructed or repaired new ones have been built or are in the process of being built. Tourism has again flourished. Seaside and inland resorts are indicating full bookings during high seasonal months of November to March. The local population not engaged or reliant on tourism have all but returned to normal lives. Fisheries and rubber plantations are thriving at levels equal to pre-tsunami.
Read more about this topic: Khao Lak
Famous quotes containing the word economy:
“The aim of the laborer should be, not to get his living, to get “a good job,” but to perform well a certain work; and, even in a pecuniary sense, it would be economy for a town to pay its laborers so well that they would not feel that they were working for low ends, as for a livelihood merely, but for scientific, or even moral ends. Do not hire a man who does your work for money, but him who does it for love of it.”
—Henry David Thoreau (1817–1862)
“Quidquid luce fuit tenebris agit: but also the other way around. What we experience in dreams, so long as we experience it frequently, is in the end just as much a part of the total economy of our soul as anything we “really” experience: because of it we are richer or poorer, are sensitive to one need more or less, and are eventually guided a little by our dream-habits in broad daylight and even in the most cheerful moments occupying our waking spirit.”
—Friedrich Nietzsche (1844–1900)
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)