Call for investment in Thai transport

Thailand urgently needs to develop its transportation infrastructure, including rail and air, to support regional connectivity and promote tourism, according to The Mall Group Co, a leading Thai retail operator.
Speaking at Dailynews Talk 2024, held by Dailynews on Monday, Supaluck Umpujh, chairwoman of The Mall Group, said that if Thailand is to become a world-leading tourist destination, the most important thing now is to speed up its infrastructure development.
“The government should consider the plan to construct the South Terminal at Suvarnabhumi airport to be able to accommodate more passengers. We must quickly develop our airports to accommodate an increasing number of tourists, so we can compete with regional peers such as Singapore,” she said.
SET-listed Airports of Thailand is reviewing the master plan on the expansion to Suvarnabhumi Airport, which is expected to be completed next year.
With regard to railways, the government should accelerate the development of the China-Thailand rail link and connect the line to other Asean member states, namely Malaysia and Singapore, Ms Supaluck said.
She said Thailand also needs to differentiate its products, services, and country image from other nations, with unique features that no other country can imitate.
For example, Thailand can highlight that it has become the first nation in Southeast Asia and one of only 37 countries worldwide to legalise same-sex marriage, and society has become more open to gender diversity and welcomes LGBTQ+ tourists.
Moreover, the government should promote the country’s creative industry by upskilling and reskilling Thai workers in the field of arts and crafts to increase the value of their products.
Ms Supaluck said Thailand’s retail sector is still showing negative signs in the current quarter due to the high cost of living, the high level of household debt, and global political uncertainty.
Thailand’s household debt-to-GDP ratio stood at 89.8% in the second quarter of 2024, according to the Bank of Thailand.
As a result, tourists are the key to stimulating the retail sector, Ms Supaluck said.
To stimulate the economy at the end of the year, Ms Supaluck supports the government’s nationwide economic recovery projects such as reviving the “Shop Dee Mee Kuen” (shop and pay back) scheme to stimulate domestic spending, which would help boost the economy during this current period.