File photo courtesy of My Guide Bangkok

 

Bangkok's Banthat Thong Road, once bustling with diners and tourists, is now facing a significant downturn. The Bantadthong Association reports a dramatic revenue drop of 40-50% for restaurants on this famed street.

 

The decline is primarily attributed to weak domestic spending and a slump in Chinese tourism, which usually makes up 20-30% of daily visitors.

 

Sittichan Vuttipornkul, the adviser for the Bantadthong Association, highlights that while the cost of ingredients and rent is climbing steadily at 5% annually, consumer spending is lagging. Compounding the issue is the drop in domestic tourism spending since early 2025, with some restaurants witnessing as much as a 70% dip from last year. Negative online reviews, citing overpriced and lacklustre food, also deter potential customers.

 

Yet, there's a ray of hope in the form of lower rental costs. Around 80-90% of businesses rent directly from Chulalongkorn University at a lower rate of 350 baht per square metre, contrasting sharply with 700 to 1,000 baht in shopping malls. High aspirations for quick profit by some new restaurateurs haven't panned out, leading the association to contemplate discussions on sustainable business practices.

 

Despite these challenges, Banthat Thong remains a vibrant culinary hub. Named the 14th coolest street globally by Time Out magazine, it plays host to more than 300 dining spots, ranging from well-established eateries to new ventures like Haab, known for its Thai egg pastries.

 

Interestingly, the street continues to draw significant foot traffic — 10,000 to 30,000 visitors daily back in 2024. With a low closure rate of just 2-3%, there remains demand for investment.

 

The Bantadthong Association envisions transforming this iconic street into a premier tourist hotspot for street food and lifestyle experiences. There's a clear focus on diversifying the customer base beyond the younger crowd with limited spending power.

 

Future plans include collaborative activities with other businesses, aiming to attract visitors of all ages. The association is keen to avoid price wars that could damage long-term prospects, stressing the importance of value over pricing alone.

 

  Adapted by ASEAN Now from Bangkok Post 2025-05-28

 

 

11 hours ago, webfact said:

Negative online reviews, citing overpriced and lacklustre food, also deter potential customers.

Wait, so people don't like overpriced, lackluster food?  Who would have expected that?

45 minutes ago, BangkokHank said:

Wait, so people don't like overpriced, lackluster food?  Who would have expected that?

Such business model would require a constant influx of new tourists, since there will be no repat customers.

12 hours ago, webfact said:

 

Negative online reviews, citing overpriced and lacklustre food, also deter potential customers.

 

The Bantadthong Association envisions transforming this iconic street into a premier tourist hotspot for street food and lifestyle experiences. There's a clear focus on diversifying the customer base beyond the younger crowd with limited spending power.

 

.., aiming to attract visitors of all ages. The association is keen to avoid price wars that could damage long-term prospects, stressing the importance of value over pricing alone.

 

 

 

 

 

In other words: they're losing customers because they're trying to exploit customers by raising prices and lowering quality, while landlords are abusively raising the rent.

But the solution is to seek out tourists with greater purchasing power and raise prices even more, while also preventing any bargains and low prices.

This is the typical Thai way of screwing up something that's driven by greed. It seems they invented the story of "the goose that lays the golden eggs."

 

 

 

Been in and out of Thailand for 40 years and never been there. Not high enough on the tourist list, not cheap enough for when you live there.