Phuket economic growth driven by tourism and major investment pipeline

Phuket recorded 6.13 million international passenger arrivals between January and September 2026, with tourism revenue estimated at about B400 billion, according to research by C9 Hotelworks.

International visitors accounted for 92% of the island’s total tourism revenue, the research said, while investment in retail, hospitality and residential projects is expanding Phuket’s economic base.

Central Festival is undergoing a 40% expansion, strengthening its role as a regional retail and lifestyle hub. ICONPHUKET, backed by an investment of B10 billion, is expected to anchor the proposed B50 billion Synthesis Ark Phuket development. The mixed-use project is planned to include retail, entertainment, hotels, luxury residences, offices, education and wellness facilities.

In the luxury hospitality and residential sectors, Minor International and Gardens of Eden are collaborating on an integrated community centred on Asia’s first Minor Reserve Collection hotel. The project will also include a 5,000-square-metre wellness centre, according to the research.

C9 Hotelworks said 5,517 hotel keys across 30 pipeline properties are scheduled to open from 2026. Branded properties account for 85% of the pipeline, while Bang Tao and Cherngtalay represent 22% of incoming hotel supply.

Phuket has about 45,027 residential units for sale across 403 projects, with condominiums making up 83% of the supply. Branded residences account for 11% of existing residential units, and a further 2,004 branded units are projected from 2027 onwards.

Bang Tao and Cherngtalay account for 50% of branded residential supply. The research also identified expansion into Thailand by ThirdHome, a US-based luxury home-exchange network, which is working with branded-residence developers.

“Phuket’s story in 2026 is about more than tourism growth. It is about the maturation of an entire destination economy, underpinned by international capital, global brands and a new generation of integrated developments reshaping the future of the island,” said Bill Barnett, managing director of C9 Hotelworks.