US food chains flock to Thailand
With Thailand’s ideal position to benefit from the Asean Economic Community, more and more US food chains are establishing a presence there.
Franchise brands soon to open in the country include Denny’s, Rita’s Italian Ice, Round Table Pizza, The Melting Pot, Rocky Mountain Chocolate Factory, Chuck E. Cheese’s, Steak ‘n Shake and Honolulu Coffee Co.
“Thai consumers are open to US brands, and the significant growth of the franchise market here means the country is highly regarded among US companies,” said Dean Matlack, commercial attache at the US Embassy.
Thailand’s franchise brands are expected to rise to 500 in five years from 370 currently. Of the 370 foreign brands, US brands account for only five per cent.
Last year, franchises businesses in the country saw a growth of 20 per cent.
A report released by MasterCard this week shows Bangkok is now the world’s most visited city, beating London for the first time, and reinforcing the importance of the foreigner market for franchisees and retailers as well.