Central Retail Corporation (CRC) is expecting revenue growth of 9-11% in 2024, with the primary drivers being a resurgence in tourism and increased consumption. However, concerns have been raised about a potential influx of inexpensive imported goods.
Yol Phokasub, CRC’s chief executive, articulated that despite the sluggish economic growth, the overall spending confidence in Thailand remains above average for the current year. The country’s GDP growth rate was less than 2% in 2023.
An increase in international tourism, according to Yol, has brought about a rise in quality visitors who possess a greater spending capacity. The Easy E-Receipt programme, a government-initiated tax incentive scheme, has also played a pivotal role in amplifying expenditure among domestic consumers.
Yol stated that the retail sector in Thailand, which is valued at 4…
