1 week Ago
Retail and property developer Central Pattana Plc (CPN) predicts an uptick for shopping mall business, driven by the tourism boom and supportive government policies in 2025. "Since the year-end, the Thai retail sector has been revitalised thanks to government initiatives aimed at stimulating the economy, including a 10,000-baht cash handout for vulnerable groups," said Nattakit Tangpoonsinthana, chief marketing officer at CPN. The sector should also benefit from the "Easy E-receipt" tax rebate scheme, effective from Jan 16 to Feb 28, he said.
The programme allows individuals to claim personal tax deductions on eligible expenses at stores issuing electronic tax invoices. Tourism promotions, such as visa exemptions for foreign tourists, including those from China, and a government push for airlines to increase flight frequencies should also enhance the retail sector, said Mr Nattakit. Last year, Thailand attracted more than 35 million foreign tourists, according to the Economics Tourism and Sports Division of the Tourism and Sports Ministry.
The government aims to attract 40 million foreign tourists this year, exceeding pre-pandemic levels. CPN is organising marketing campaigns at its malls nationwide this year to mark various special occasions such as Children's Day, Valentine's Day, Chinese New Year and Songkran, along with activities planned for Pride month in June. These campaigns will help to attract both local and foreign tourists from China, Singapore, Malaysia, Hong Kong, Taiwan, Russia and the US, as well as independent travellers, he said.
With shoppers increasingly embracing more sophisticated lifestyles and seeking unique shopping experiences, CPN is adapting to these changing consumer behaviours, said Mr Nattakit. This year the company plans to launch a 46-billion-baht mixed-use project dubbed Dusit Central Park, featuring a hotel, residential areas, retail spaces and offices. "We will also launch Central Krabi, a 4.
5-billion-baht project serving Krabi residents and tourists in the area, he said..
