Knight Frank Chartered (Thailand) Co Ltd
"Overview of Bangkok Retail Market as of mid-2023"
The Summary Highlight
- Tourism Recovery: Foreign tourist arrivals in June 2023 reached 12.9 million, with expectations of reaching 28.5 million by year-end (approximately 71% of 2019 pre-COVID levels).
- Malaysians ranked No.1 for The top five foreign arrivals from January to May 2023 followed by Chinese, Russians, South Koreans, and Indians.
- Rental discounts were cancelled or reduced to 0-4% as foreign arrivals approached 80% of pre-COVID levels.
- Demand recovery with notable return of tenants, particularly in the restaurant and beauty, health, and wellness sectors.
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