As tourists step off the pier on Thailand’s Koh Phangan island, they’re greeted by a sales pitch tailored to outsiders — billboards touting luxury beachfront plots or clifftop villas as high-yield investments, a message repeated along the palm-fringed roads winding up into the hills.
This tiny tropical island of fewer than 10,000 is one of the most popular tourist destinations in Southeast Asia, welcoming more than one million overseas visitors a year. But locals say a surge in internationally run businesses and land ownership is reshaping it beyond recognition, breeding resentment toward some foreigners that has spread across the country.
