Retail and property developer Central Pattana Plc (CPN) foresees growth in the shopping mall sector, propelled by a surge in tourism and favorable government policies this year.
Nattakit Tangpoonsinthana, CPN’s chief marketing officer, noted, “Since the year-end, the Thai retail sector has been revitalized thanks to government initiatives aimed at stimulating the economy, including a 10,000-baht cash handout to vulnerable groups.”
He added that the sector is poised to benefit from the “Easy E-receipt” tax rebate program, running from January 16 to February 28.
This initiative allows individuals to obtain personal tax deductions for purchases at outlets that issue electronic tax invoices.
According to Mr. Nattakit, promotional efforts such as visa waivers for tourists, including those from China, and encouraging airlines to increase flight schedules are expected to bolster the retail industry.
Last year, Thailand welcomed over 35 million international visitors, according to the Economics Tourism and Sports Division of the Tourism and Sports Ministry.
This year, the government aims to attract 40 million international tourists, surpassing pre-pandemic levels.
To commemorate various occasions, including Children’s Day, Valentine’s Day, Chinese New Year, and Songkran, CPN is launching marketing events at its malls across the country, as well as activities for Pride month in June.
Mr. Nattakit stated that these initiatives are designed to attract a diverse group of visitors from China, Singapore, Malaysia, Hong Kong, Taiwan, Russia, and the US, including independent travelers.
With consumer trends shifting towards more sophisticated lifestyles and unique shopping experiences, CPN is adapting its strategies to accommodate these changes, Mr. Nattakit explained.
This year, the company plans to introduce Dusit Central Park, a 46-billion-baht mixed-use project featuring a hotel, residential areas, retail spaces, and offices.
Additionally, Mr. Nattakit announced the upcoming launch of Central Krabi, a 4.5-billion-baht project that will serve both residents and tourists in the area.
