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Restaurant Industry Faces Over 50% Drop in Spending, Urges Govt for Immediate Stimulus


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Posted
1 hour ago, webfact said:

the restaurant industry has faced a significant drop in spending

Only one solution................put up the prices to cover the "significant drop" in spending! :thumbsup:

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Posted

I don't understand, with all the Chinese, Indians, and Russians coming in for 60 days visa free, those restaurants should be packed.

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Posted
7 hours ago, webfact said:

The association had appealed to the Thai Prime Minister to address the current economic issues with immediate stimulus measures instead of solely relying on the upcoming 10,000-baht digital wallet scheme.

The 10k revolution is coming... hang on.

Srettha promised it would solve everything.

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Posted
1 hour ago, Mburo said:

But….we’re told record number of tourists. Doesn’t make sense .

Have you checked out potential 7/11 take out sales ? Tourists are savvy these days, 

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Posted
1 hour ago, Ben Zioner said:

Serves them right.

 

And it is going to get worse once RD steals 860k/year from me..

 

What or who are RD?

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Posted

Very few places can seem to achieve the right balance of price, quality and service.
Consequently, I rarely eat out as I have had my fill of over-priced lousy food and lousy service!

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Posted
1 minute ago, Will B Good said:

 

 

Guessing the Revenue Department.....the Taxman cometh!!!

Thank you

 

Posted
7 hours ago, Gottfrid said:

That does not mean the government must activate stimulus to failing businesses. Over exploitation is a disease in this country, and now they just have to pay the price for such stupid practice.

 

This is an international problem talk to the franchisees of Rotten Ronnie in the North America.

 

Here there are too many restaurants 

 

Too many fancy restaurants that think a piece of meet the size of a 10 baht coin is a meal.

 

Too many hotels

 

I agree let the market sort it out.

 

It is the same with anything the market and the buyers will decide

 

There is too much dependancy on the government to bail people out and no one realizes where that money comes from.

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Posted
8 hours ago, webfact said:

image.jpeg


On July 31st, 2024, Mr. Sorathep Rojpotjanaruch, the Chairman of the Thai Restaurant Business Association, revealed that the restaurant industry has faced a significant drop in spending, exceeding 50% recently.


The association had appealed to the Thai Prime Minister to address the current economic issues with immediate stimulus measures instead of solely relying on the upcoming 10,000-baht digital wallet scheme.

 

More than half of the Thai restaurants in the association could close by year-end without prompt action, remarked Sorathep.

 

The combined impact of rising raw material costs and declining consumer spending has left small restaurants struggling. Medium-sized and SME establishments are also suffering due to increased tax burdens. The lack of government response to their initial appeal has left business owners feeling abandoned, questioning the effectiveness of the current administration, concerned Sorathep.


The association plans to follow up next week and escalate their concerns if no response is received.

 

By Kittisak Phalaharn

 

Full story: THE PATTAYA NEWS 2024-08-02

 

-  Cigna offers a variety of health insurance plans designed to meet the minimum requirement for medical treatment coverage, with benefits reaching up to THB 3 million. These plans are tailored to provide comprehensive healthcare solutions for expatriates, ensuring peace of mind and access to quality medical services. To explore the full range of Cigna's expat health insurance options and find a plan that suits your needs, click here for more information.

 

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So, govt efforts to get tourists here by numbers seems to be working!  They reported that 22 million touritst have arrived since the beginning of the year through July.  At that rate unless it cools off due to severe flooding throughout Thailand they should have a RECORD year but that will be only in numbers but so far the money collected from the tourists is lower than expected.  Those "zero dollar" tours I guess.

Posted
10 hours ago, Gottfrid said:

That does not mean the government must activate stimulus to failing businesses.

 

Thailand is a heavily subsidised society, so they have come to expect it.  Unfortunately, there isn't currently the same level of tourist spending to provide for the subsidies.

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Posted
2 hours ago, Presnock said:

So, govt efforts to get tourists here by numbers seems to be working!  They reported that 22 million touritst have arrived since the beginning of the year through July.  At that rate unless it cools off due to severe flooding throughout Thailand they should have a RECORD year but that will be only in numbers but so far the money collected from the tourists is lower than expected.  Those "zero dollar" tours I guess.

 

The problem is, if those tourists are Russians, they may well not be genuine tourists and they may be patronising Russian businesses.  So they won't generate the subsidy fund that previous tourists did.

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Posted
2 hours ago, mikeymike100 said:

The Chinese, I have never seen eating in a restaurant,or in a bar so where do they eat?

In Pattaya I have seen Chinese families and individual travellers eating in local noodle shops with no more than 10/12 tables and then bus loads of them eating at buffet places specifically for the Chinese tour groups.......

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Posted

Remember when this time of year was considerred Low Tourist Season, as the Norther Hemisphere is in Summer when the

temperatures and weather is mild and most people have children who go to school, so they stay in their own countries.

I wonder if TAT and most people are not aware of this. I guess the Aussies and other southern hemisphere people may

want to escape the cool to cold weather of their Winter. As some posters say, maybe there are too many restaurants

getting opened when the demand is not high.

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Posted

walk down any street in a tourist(y) section

these are just  "Labeled" as such ..   couple with the hundreds of BBQ/Thai/Noodle  etc etc on every street

Italian                          sushi               German

image.png.891e2c897d5e508a8f5be3734feb1c77.png image.png.ad222f3581f28510e645694353b4f66b.pngimage.png.c251fa33ad7858e1532f4fd96394fd93.png

in short ......StopFundingOverfishing

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