Thai restaurant Industry Faces Over 50% Drop in Spending

[reader]

Having left Bangkok not that long ago, don't recall finding an acceptable meal at a reasonable price problematic. Most Thais patronize prepared food vendors. If the industry is experiencing a big drop in income, I'd first look at their pricing. Even McDonald's announced this week the return of the "value meal" due to reduced same-store sales.

From Pattaya News

On July 31st, 2024, Mr. Sorathep Rojpotjanaruch, the Chairman of the Thai Restaurant Business Association, revealed that the restaurant industry has faced a significant drop in spending, exceeding 50% recently.

The association had appealed to the Thai Prime Minister to address the current economic issues with immediate stimulus measures instead of solely relying on the upcoming 10,000-baht digital wallet scheme. More than half of the Thai restaurants in the association could close by year-end without prompt action, remarked Sorathep.

The combined impact of rising raw material costs and declining consumer spending has left small restaurants struggling. Medium-sized and SME establishments are also suffering due to increased tax burdens. The lack of government response to their initial appeal has left business owners feeling abandoned, questioning the effectiveness of the current administration, concerned Sorathep.

 

[floridarob]

With the increase costs of EVERYTHING, people don't have the disposable income that had before, so are dining out less or looking for cheaper dining options.

 

[Riobard]

On 8/1/2024 at 7:29 AM, reader said:

Having left Bangkok not that long ago, don't recall finding an acceptable meal at a reasonable price problematic. Most Thais patronize prepared food vendors. If the industry is experiencing a big drop in income, I'd first look at their pricing. Even McDonald's announced this week the return of the "value meal" due to reduced same-store sales.

From Pattaya News

On July 31st, 2024, Mr. Sorathep Rojpotjanaruch, the Chairman of the Thai Restaurant Business Association, revealed that the restaurant industry has faced a significant drop in spending, exceeding 50% recently.

The association had appealed to the Thai Prime Minister to address the current economic issues with immediate stimulus measures instead of solely relying on the upcoming 10,000-baht digital wallet scheme. More than half of the Thai restaurants in the association could close by year-end without prompt action, remarked Sorathep.

The combined impact of rising raw material costs and declining consumer spending has left small restaurants struggling. Medium-sized and SME establishments are also suffering due to increased tax burdens. The lack of government response to their initial appeal has left business owners feeling abandoned, questioning the effectiveness of the current administration, concerned Sorathep.

 

Other than the not particularly interesting article content, I would be hard pressed to say that the added views aren’t distorted. I do sympathize that times are tough everywhere. However, how very simplistic to suggest bottom lines are so easily rectified. MickeyD’s is a conglomerate. When can we anticipate the return of more value meals for thought?