Thailand has a long and fascinating history when it comes to gemstones. Dating back to the 1400s, the country’s mines have produced exquisite sapphires and rubies that have adorned the crowns, swords, and even the footwear of Thai royalty. In recent times, Thailand has become a global hub for cutting, polishing, heating, and trading gemstones, establishing business relationships with neighboring countries like Myanmar, Vietnam, Cambodia, and Laos, as well as countries around the world.
After facing disruptions due to the pandemic, the organizers of the 68th Bangkok Gems & Jewelry Fair are taking this opportunity to reintroduce Thailand’s expertise in processing and perfecting natural gems. This event provides a platform for local businesses to connect with international buyers, particularly from the Middle East, Europe, and America. It also showcases new trends in jewelry and meets the demand for cut gemstones from overseas buyers, primarily from America, Europe, and Asia.
The fair, held at the Queen Sirikit National Convention Center, is expected to attract 30,000 attendees, which is about half the number of visitors at the gem shows in Tucson, Arizona—considered the world’s largest gem trade gathering. Thailand’s status as a major player in the global gemstone trade can be attributed to its location in gem-rich Southeast Asia and the stability it offers in a volatile region. Over the years, Thailand has received significant support and investment from Western countries like the United States, Japan, and Europe, which has helped build essential infrastructure like hotels, banking services, and technology.
One of Thailand’s strengths in the gem and jewelry business is its quality cutters, along with its low labor costs. While other countries may offer lower prices, Thailand’s cutters are renowned for their expertise. Additionally, Bangkok is home to reputable gemstone labs, where authenticity can be verified. In contrast, countries like Sri Lanka lack such facilities. Thailand ranks as the third-largest exporter of colored gemstones globally, and its gem and jewelry exports (excluding gold) are projected to reach $8.84 billion this year, a 10 percent increase compared to the previous year.
Southeast Asia has traditionally been a destination for traders and jewelers seeking to have gemstones cut and polished. Thailand’s manufacturing capabilities, along with its culture deeply rooted in craftsmanship, attract designers, brand names, and buyers from all over the world. Although most of the world’s colored gemstones are now mined in Africa, mining companies frequently choose to sell their finds in Thailand due to the presence of buyers and the convenience of access to cutting and processing facilities in the country.
Thailand’s gem and jewelry industry has been supported by a skilled workforce, estimated to be over 1 million people. Many of these skilled workers are graduates of gemology schools in Bangkok. However, one challenge facing the industry is the aging workforce of cutters, with most of them over 40 years old. Currently, there is a lack of young people interested in pursuing apprenticeships in gem cutting.
Despite these challenges, Thailand continues to be a major player in the global gemstone trade. Its rich history, expertise in processing and perfecting natural gems, and infrastructure make it a preferred destination for buyers and a key contributor to the industry.
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