Thailand’s retail industry is expected to grow by 15 to 20 per cent over the next five years, according to projections from the Thai Shopping Centres Association (TSCA).
The TSCA says an additional 120 billion baht will be invested in the industry within the period as new foreign retailers enter the market, including Aeon of Japan.
“Thailand still has a lot of retail opportunities due to its robust economic growth. When the Asean Economic Community takes shape in 2016, the retail business will get more attractive, drawing a number of foreign players and tourists here,” said TSCA president Naris Cheyklin.
The country’s count of 74 shopping malls could reach 100 in five years as new developments are slated to open in Bangkok and other major provinces.
Shopping malls in Thailand are classified in five categories – mega-malls serving customers from outside a 10-kilometre radius, regional malls (inside a 10-kilometre radius), community malls (inside a four- to five-kilometre radius), specialty malls (specific products) and luxury malls (high-end and international brands).
