Bangkok: The Commerce Ministry has set an ambitious target for the upcoming "Bangkok Gems and Jewelry Fair 2026," predicting it will generate 3.5 billion baht in revenue. The event aims to attract international participants and stimulate economic activity in Thailand. The Ministry of Commerce inaugurated the event with a focus on adapting to rising gold prices by incorporating more gemstones and precious stones into jewelry designs.
According to Thai News Agency, Ms. Supajee Suthamphan, the Minister of Commerce, informed His Majesty the King about the fair's growth since its inception in 1983. The Bangkok Gems and Jewelry Fair has gained international recognition and is now one of the four most important jewelry trade shows worldwide. For its 73rd edition, the exhibition space has expanded significantly, featuring 1,222 companies and 2,794 booths. An estimated 45,000 visitors from around the globe are expected, with a projected trade value of at least 3.5 billion baht. This underscores the Thai gems and jewelry industry's crucial role in the economy, consistently ranking among the top three export products and generating over 400 billion baht in revenue.
Mr. Preeda Tiasuwan, Founder and Chairman of Pranda Jewelry Public Company Limited (Pranda Group), highlighted the challenges posed by rising gold prices, which have impacted production costs. In response, the Pranda brand is emphasizing design and the use of gemstones to offer affordable prices to customers. The management views gold as a raw material vulnerable to international speculation, leading to challenges for artisans.
Despite these challenges, the jewelry group remains committed to retaining skilled labor and navigating the crisis, leveraging 53 years of business experience. With over 75% of Pranda's sales coming from international markets, the company finds selling high-value goods online challenging due to security and money laundering risks. As a result, they prioritize international markets, with only about 25% of sales occurring domestically. Additionally, there are concerns about online platforms being exploited for money laundering by foreign scammers.