Phuket’s economy rewinds as market set to go back to the basics. Tourism master plan a critical step to island moving forward. “Phuket’s economy heavily relies on tourism. In 2019, the accommodation and food services sectors made up nearly 50% to its total GPP. Due to the negative impact of the COVID-19 outbreak on tourism, the critical economic questions facing the island remain is it too big to fail, and is it time to diversify industries?