Bangkok Expands Retail Space To Outstrip Other Southeast Asian Countries

Business

In Thailand’s capital city, hotels make the effort to be interesting to both locals and tourists by adding rooftop dining in Sukhumvit as an option to traditional restaurants. While most restaurants have nice environments, the ambiance in rooftop dining is entirely different. The backdrop is the magnificent view of the city and the star-filled night sky.

The city of Bangkok has 7.5 million square meters of retail space with another million being planned to nearly double what similar cities are lining up. People love going to malls but the question is whether they are making purchases. Breakneck expansion has its share of risks because it can create a supply glut like what happened to Kuala Lumpur. Foot traffic does not necessarily generate sales that is why Thai retailers and developers are trying to boost spending.

The new luxurious Iconsiam shopping complex has recently opened in spite of the decline in tourist arrivals and the political uncertainty of the coming election. The retail sector is one of the brightest spots in Thailand with developers investing $4 billion in retail to surpass the new projects in Jakarta, Singapore and Kuala Lumpur.

Bangkok is expected to add more retail space than any city in Southeast Asia this year. Even as Thailand prepares for the elections, new retail projects continue to be planned. The growth of tourism was affected by political turmoil and the boat accident where some Chinese tourists died. However, developers have not been deterred because they know that tourism will recover.

Besides that, there are many good opportunities for the retail sector. Ecommerce stores are investing in malls because there are customers who do not feel comfortable with online shopping. Customers tend to familiarize themselves with the products in physical stores before ordering online. The challenge is to keep shopping centres engaging and fresh to achieve retail success.

A different kind of experience is offered by rooftop dining in Sukhumvit for people who want to relax over good food and drinks. Hanging out in a rooftop restaurant is becoming a way of life for many people particularly during summer. The open atmosphere and splendid view is ideal for business travellers and professionals.