When you have an active jewellery industry in your country, chances are it will also benefit the tourism industry as well especially in terms of number of tourist purchases of let’s say, certified diamond jewellery especially those jewelleries that are from the Royal Kingdom of Thailand. You see, from January to October of 2016, the jewellery industry in the kingdom ranked 3rd among all industries in the country in terms of total export value which amounted to 435 billion Baht. And according to officials of the Thai Gem and Jewellery Traders Association or TGJTA, they have been in the frontline of the battle in terms of pushing various initiatives that will enable Thailand to promote its jewellery industry that will benefit its tourism industry due to the prospect of more tourists buying jewelleries from licensed jewellery stores around the kingdom.
Just last February 24 to 28 of 2016, Jewellery and Precious Metal Confederation of Thailand or JGPCT held the 57th Bangkok Gems and Jewellery Fair which hoped to have helped Thailand’s bid in becoming the “gem hub” not just of Asia but, of the world. The mentioned hosted around 3,500 exhibitors including the ones from the United States, Europe, Russia, China and other nations from the Association of South East Asian Nations or ASEAN in which, Thailand is also a member. During the 4-day fair, Thailand’s finest of quality, coloured gemstones were promoted which included a great number of certified diamond jewellery, which helped the kingdom established an international reputation as one of the world’s leaders in the jewellery industry. With a significant increase of support that the jewellery industry is receiving from the royal government, experts, including officials of the TGJTA and the JGPCT, believe that Thailand will become ASEAN’s “gem hub” in the next two to three years. In addition to this, various measures proposed by both groups are being pushed pending the approval from the government which include the proposal of exemption to value added tax for imports of finished diamonds or gemstones and, other related things surrounding the jewellery industry in Thailand which would essentially lure more investors to export their diamond products to Thailand.