Anticipating a robust year ahead, Thailand’s retail sector is poised for a double-digit expansion. The growth is primarily spurred by a surge in private consumption and the government’s stimulus measures, such as the Easy E-Receipt tax refund scheme and a boom in online retail. However, the rising cost of living is a cause for concern, as stated by the Economic Intelligence Center (EIC), Siam Commercial Bank’s research division.
Chayanit Somsuk, an analyst with EIC, highlighted the key growth drivers: the Easy E-Receipt scheme, a rise in private consumption, wage increases, and a revival in tourism. Chayanit shared these insights during the recent Thailand’s E-commerce Trend 2024 event organised by Priceza.
The tax refund scheme, which runs from January 1 to February 15, allows individuals to claim a tax deduction of up to 50,000 baht on purchases from businesses using the…
