Korat Restaurant Chief Laments: Economy Slumps, Customers Dwindle

[webfact]

Picture courtesy: INN

 

The head of Nakhon Ratchasima Restaurant Association is calling for government action to revive the economy, as local eateries suffer from dwindling customer numbers amidst ongoing financial slumps.

 

Jirasak Karawiwatana, the association's president, reported that despite being the end of the year, the economic climate in Nakhon Ratchasima remains grim. Many restaurants in the area are experiencing a significant drop in customers, with some even shutting down operations.

 

The dual hit of soaring ingredient costs and reduced consumer spending power, driven by rising living expenses, has created financial distress for both restaurant owners and their clientele.

Jirasak is urging the government to reintroduce the “50:50” co-payment scheme, which previously encouraged robust consumer spending, spurring a quick economic rebound, reported INN.

 

He believes that restoring such policies could provide the necessary boost for the end-of-year fiscal climate. "The government shouldn't worry about political perceptions when continuing effective policies from previous administrations," he stated. "Successful economic measures will enhance public support."

 

-- 2024-12-11

 

 

[JoePai]

Why should the Gov. always bail out these people - if the business(s) are not viable then shut them down

[Will B Good]

 

 

Well! I am surprised when you consider the 10k burning a hole in everyone's pocket's....the great multiplier.....here to save the Thai economy.

[lordgrinz]

Maybe they should trade their restaurants in for 7-11's, maybe a liquor store, or start selling lottery tickets. I mean we all know where the government free money is going.

[Denim]

Food is definately getting more expensive for a lot of people.  I am amazed that our local Moo Deng / Khao Man Gy shop can still keep prices under 50 baht. By somehow managing this they are picking up more customers who have been priced out of similar places .

[Tropicalevo]

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[ikke1959]

There is no need to help.... there are too many restaurants already and the strongest with the best service and food will survive. That is the risk of doing business.... I am sorry that several will go bankrupt but it will be better for the survivors. As an kind of example In the street to my house which is about 2,5km there 23 coffee selling points, including a Lotus, 2 7/11 shops, a tea shop and a Amazon, and all the rest have built a kind of sala to sell coffee and drinks too.. How on earth can they earn something ?? too many same kind of shops in 1 street, and the same is for the small shops with daily groceries.... I think there are 15 too...The way of Thai business is weaking other shops with the same offers.. Regulations would be better and everybody could earn a decent wage.

[Will B Good]

Just now, ikke1959 said:

There is no need to help.... there are too many restaurants already and the strongest with the best service and food will survive. That is the risk of doing business.... I am sorry that several will go bankrupt but it will be better for the survivors. As an kind of example In the street to my house which is about 2,5km there 23 coffee selling points, including a Lotus, 2 7/11 shops, a tea shop and a Amazon, and all the rest have built a kind of sala to sell coffee and drinks too.. How on earth can they earn something ?? too many same kind of shops in 1 street, and the same is for the small shops with daily groceries.... I think there are 15 too...The way of Thai business is weaking other shops with the same offers.. Regulations would be better and everybody could earn a decent wage.

 

Oh dear.....wife is just in the middle of building a small restaurant and bar.......I have serious doubts it will be successful.....but I also keep reminding myself........"you're a farang, what the **** do you know?".....

[Andycoops]

7 hours ago, Denim said:

Food is definately getting more expensive for a lot of people.  I am amazed that our local Moo Deng / Khao Man Gy shop can still keep prices under 50 baht. By somehow managing this they are picking up more customers who have been priced out of similar places .

I had a bowl of pork noodle soup the other day and it was 30 baht.

I left a 10 baht tip because I can't believe they can survive on that pricing.

This was in rural Isaan.

[Isaan sailor]

The slow economy hurts most everyone.  As long as BoT keeps taking foreign inflows, Thailand’s economy will continue to falter, while competitors like Vietnam flourish.