Guest shamahan Posted July 29, 2015 Share Posted July 29, 2015 I have just returned from one day shopping trip to Siam Paragon. The idea was to impress my new 18 years old Thai boyfriend. I am not sure that I have succeeded but this is not the point. The point is that IMHO Siam Paragon can give one a good impression of the current economic situation in BKK. Contrary to my expectations the mall was bustling with both locals and tourists and I was there just on pretty mundane Monday. With very bad economic numbers, faltering exports, tourists numbers down (definitely felt in Pattaya), drought I can come to only one logical conclusion: the economic gap between BKK and the rest of the country is widening. Perhaps, the analogy with Hunter games is becoming more pertinent but in Thai unorthodox politics BKK that what really counts (at least it always was the case so far). Quote Link to comment Share on other sites More sharing options...
TotallyOz Posted July 29, 2015 Share Posted July 29, 2015 Interesting analogy to the Hunger Games. I had never really thought of that before but the more I think about that with Bangkok and the rest of the country, the more I see. Quote Link to comment Share on other sites More sharing options...
ChristianPFC Posted July 29, 2015 Share Posted July 29, 2015 Contrary to my expectations the mall was bustling with both locals and tourists and I was there just on pretty mundane Monday. (my emphasis) But where they buying? I spend some time in shopping malls, but I'm only looking. I buy everything I need at local markets. vinapu 1 Quote Link to comment Share on other sites More sharing options...
vinapu Posted July 29, 2015 Share Posted July 29, 2015 I can come to only one logical conclusion: the economic gap between BKK and the rest of the country is widening. another conclusion would be that gap between BKK 'haves' and 'have nots' is widening which seems to be a case in many developed countries as well. Siam Paragon is hardly representative statistic sample of Thai retail and it's clients are not good statistic sample of BKK population as a whole. It doesn't mean your conclusion is wrong but comparison of local markets would be more indicative IMO. Thailand is one of those countries where capital city weighs disproportionately in nation's economy along with Hungary , Chile and such and this creates own sort of problems - self absorbing center may overlook rest of country troubles until it's too late. This is how Roman Empire in the west collapsed and most colonial powers lost their colonies. Quote Link to comment Share on other sites More sharing options...
vinapu Posted July 29, 2015 Share Posted July 29, 2015 (my emphasis) But where they buying? I spend some time in shopping malls, but I'm only looking. I buy everything I need at local markets. and what they were buying needs to be asked, golden watches or just an ice cream? You are bringing valid point as there's always lag between retail and economy over all situation. People are still buying if their situation is deteriorating / usually on credit / and if it improves they are not exactly rushing to the stores right away / because they have those credits to pay / Quote Link to comment Share on other sites More sharing options...
Guest Posted July 29, 2015 Share Posted July 29, 2015 The last quarter for which economic data is available via a quick google search is Jan ~March 2015. That shows 0.7% growth in Thai GDP. GDP is a measure of total spending in an economy. The economists describe it as output, but in reality it is a measure of spending. [if someone in Thailand buys a German car, that increases Thai GDP, but it wouldn't meet MY definition of Thai economic output] Anyway, I wouldn't notice a 0.7% change in the number of shoppers or trade at Siam Paragon or any other shopping mall. Quote Link to comment Share on other sites More sharing options...
