Oh, Thailand! It is one of the ten most visited countries in the world and is on the list of the countries in which they would most like to spend a long vacation. The Land of Smiles is probably best known for its beaches, nightlife and spicy cuisine. Still, you might be surprised to learn that Thailand is a major global jewelry manufacturer as a supplier of gemstones, fashion jewelry, and precious metals . Gemstone polishing and gold and silver jewelry making have been vital parts of Thailand’s economy for centuries, and that’s nothing new either. Here are 4 reasons why Thailand-based jewelry makers should be your next supplier.
While other countries in the region have moved into other industries, such as electronics or palm oil manufacturing, Thailand has continued to perfect the art of gemology and jewelry making . If you are a jewelry retailer based outside of Asia, this article will give you all the incentive you need to start looking in Thailand for your next jewelry supplier.
4 reasons why you should choose thai jewelry manufacturers as your supplier
1. Thailand produces many high quality jewelry and gemstones
Thailand produces many high quality jewels and gemstones
Throughout history, Southeast Asia has been a good source of precious stones (especially rubies and sapphires), which continues today. In addition to the gems they are best known for, Thai miners produced 50 tons of silver in 2019.
Apart from mining, gem cutting and colored stone making are also important industries in Thailand. Culturally, wearing jewelry is very common among Thai men and women, fueling strong domestic demand.
Spend a day driving around Pattaya or Bangkok and count the number of jewelry stores you see; respect for fine jewelry is truly rooted in culture and has been for centuries. Thai people do not just extract the raw materials or sell the finished jewelry, but they also manufacture high quality fashion jewelry in huge quantities.
Thai jewelry makers export tons of jewelry every year, making the country one of the top ten jewelry suppliers in the world. Thailand provides the highest amount in terms of silver jewelry value (23% of the global market, to be exact) and is also ranked third in gemstone exports.
This means you will never have to worry about supply shortages when dealing with Thai jewelry manufacturers; in the Land of Smiles, there is more than enough for everyone.
In addition, many gemstone and jewelry fairs and shows are held in the country. The Thai government has prioritized the promotion of the gemstone and jewelry industry, fully aware of its importance to the Thai economy as a whole.
2. Low cost of living translates into low cost of doing business
Low cost of living translates into low cost of doing business
The fact that Thailand is a major producer of the materials needed to make jewelry has resulted in a lower overall cost of finished jewelry products. Add this to the low cost of living and labor that Thailand jewelry makers enjoy, the reason for Thailand’s competitive jewelry prices becomes obvious.
Thailand is an affordable country by many standards, which means there are deals on fashion jewelry for everyone, from tourists to jewelry sellers based around the world.
In addition to the low cost of living and labor, the Thai government provides duty exemptions for many materials involved in the jewelry manufacturing process, including gold and diamonds, which do not not easily found in the mines of the country.
This further allows Thai jewelry manufacturers to keep costs and prices low without sacrificing profits, which is good news for sellers looking for a low cost jewelry supplier.