Thailand’s retail industry is expected to grow by 6-8% this year, double the rate of the GDP, helped by the recovery of tourism, according to the Thai Retailers Association (TRA).
Yol Phokasub, president of the TRA, said the retail industry has been improving, particularly in destinations reliant on tourism such as Phuket, Samui and Pattaya.
“Tourism makes up a vital portion of the Thai economy, in addition to exports,” said Mr Yol.
“Although consumer sentiment early this year remains fragile, it is better than expected.”
Thailand’s retail industry grew by 2-3 times the GDP rate over the past…
