Thai malls bet $5bn on post-election tourism boom

APORNRATH PHOONPHONGPHIPHAT, Nikkei staff writer

 

The Iconsiam shopping mall in Bangkok. (Photo by Akira Kodaka)

 

BANGKOK -- Two of Thailand's biggest retailers, Siam Piwat and The Mall Group, have unveiled multiyear plans totaling around 150 billion baht ($4.7 billion) in investments ahead of general elections on Sunday.

 

Both groups have earmarked funds to build new malls, seeking in part to capture demand from inbound tourists, a bright spot in the economy.

 

The aggressive expansion plans come as Thai growth has yet to pick itself up from a slump, with consumer spending likely to remain depressed by one of the biggest household debt burdens in Asia.

 

Full story: https://asia.nikkei.com/Business/Companies/Thai-malls-bet-5bn-on-post-election-tourism-boom

 

NIKKEI Asian Review: 2019-03-24

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I never go to malls and hardly shop in Thailand. It is good they keep building more malls.I only wonder who will take all these spaces with such high rentals?

There is a slump fueled by excessive debt, i.e. nobody's got any money.
Betting on tourists to fill the gap, eh? All of those quality Chinese tourists who, some pundit reports aside, seem not to spend many baht outside of their appointed rounds?
 

The "families" that are going to build these malls control the majority of the money in the country, guess they feel they have to spend a small percentage of their hard earned cash ????

The PM to be has recently appointed a group of personal financial advisors. Take a guess at where they come from.

11 hours ago, Bill Miller said:

There is a slump fueled by excessive debt, i.e. nobody's got any money.
Betting on tourists to fill the gap, eh? All of those quality Chinese tourists who, some pundit reports aside, seem not to spend many baht outside of their appointed rounds?
 

Hows your nanny state going ????????????

11 hours ago, mickymouse1 said:

I never go to malls and hardly shop in Thailand. It is good they keep building more malls.I only wonder who will take all these spaces with such high rentals?

Leave your village and go take a look ?

6 hours ago, madmen said:

Hows your nanny state going ????????????

How do you get anything remotely related to "nanny states" out of it?
Not one word about anything political. ????

6 hours ago, madmen said:

Hows your nanny state going ????????????

What does that have to do with building more shopping malls or personal debt levels ?