Once ruled by the adage “Diamonds are forever,” the gemstone realm now shares the spotlight with a dazzling ensemble of newcomers. Amid shifting consumer tastes, these precious gems are ascending to prominence not just for their visual allure, but also for their versatility, distinctiveness, and spiritual significance. Thailand has emerged as a thriving hub for these gemstone treasures.
Photo – courtesy of DITP ©
Today, gems serve as more than just ornamental adornments; they act as conduits to astrological energies and personal connections. Birthstones, cherished by many, offer promises of protection against negativity and attraction of positive vibes. Sapphires, symbolic of wisdom and spiritual enlightenment, hold a cherished place in India’s cultural heritage. China’s reverence for Jade, believed to possess protective properties, is deeply rooted in Taoist traditions and ancient literature. Consequently, age-old legends infuse contemporary jewellery with cultural richness, enhancing its aesthetic appeal.
Thailand stands as a central figure in this global gemstone renaissance, adeptly navigating evolving preferences while establishing itself as a leader in luxury adornments. Rooted in centuries-old cultural heritage, Thailand’s gem and jewellery industry showcases the craftsmanship of local artisans, transforming raw gemstones into intricate masterpieces that embody tradition, spirituality, and exceptional artistry.
A defining feature of Thai expertise lies in their mastery of heat treatment techniques, infusing coloured gemstones with unmatched vibrancy. This unique skill, a hallmark of Thai craftsmanship, has been honed over decades. With around 20,000 skilled artisans and production hubs such as Bangkok and Chanthaburi province, the legacy thrives.
Mr. Phuket Khunprapakorn, the advisor of the Chanthaburi Gem and Jewelry Traders Association, notes, “We’ve seen a surge in global and local demand,” attributing this growth to post-COVID economic recoveries in Europe and the US and the influx of tourists to Thailand, particularly from China and India.
Thailand proudly holds the title of the world’s third-largest exporter of coloured gemstones, with gem and jewellery exports surpassing USD 15 billion in 2022, marking a 50% year-on-year increase. The upcoming 68th Bangkok Gems and Jewelry Trade Fair, scheduled for September 6-10, 2023, aims to host some 30,000 visitors, solidifying its status as a premier industry event.
“Modern buyers increasingly view gemstones as a unique form of investment,” remarks Mr. Phuket. Acquiring top-quality gemstones like rubies and blue sapphires from Thailand could indeed yield profitable returns, as the value of rubies has surged by more than 40% over the past five years. Given the high demand and dwindling natural resources, Thailand faces the challenge of balancing supply and demand for sustainable growth.
In an era dominated by online commerce, the gems and jewellery sector has embraced change. To instil confidence in product quality, the Gem and Jewelry Institute of Thailand (GIT) has spearheaded various initiatives throughout the value chain.
Mr. Sumeth Prasongpongchai, Director of GIT, states, “Our mission is to elevate the gem and jewellery industry’s standards and competitiveness to an international level while ensuring sustainability.”
GIT has invested in research to enhance manufacturing productivity and address environmental concerns, collaborating with both national and international institutions to establish industry standards for gemstones and precious metals. To bolster the downstream sector, GIT has introduced the “Buy with Confidence” initiative, issuing quality assurance certificates that instil trust among buyers and sellers. Utilizing AI technology, GIT can trace the origins of gems and combat misinformation that could unjustly influence pricing.
With an unwavering commitment to quality, craftsmanship, and adaptability, Thailand’s gem and jewellery industry continues to shine brightly as a radiant gem in the realm of luxury adornments.
