Magazines Archives - 2009 September

New projects help lift Thai market
Story 9 - Focus

After a slow start to the year due to political uncertainty and the global economic gloom, Thai retailers are positive about the second life.

Since May 2008, Thailand, which relies heavily on tourist dollars, has been grabbing the limelight for all the wrong reasons — from street protests to the seizure of the Prime Minister’s office for six months that culminated in the closure of Bangkok’s two major airports.

In April this year, rioting in the capital city saw thousands of antigovernment protesters battling soldiers on the streets, further worsening a struggling economy.

But, four months after the ‘Black Songkran’ (a Thai new year marred by violence), things are moving fast, with the economy recovering, tourists back on the streets and a more stable government in place trying to restore confidence.

The GDP is forecast to be minus 3%-5% this year before recovering to a positive 1%-2% next year, amid clear signs of orders picking up for various export-oriented industries, especially textile, automotive and hard-disk drive.

To view full story, get a copy of Retail Asia. To subscribe, please download the subscription form from http://www.retailasiaonline.com/subscription.html