Businesses near the Ratchaprasong intersection are calling on the National Council for Peace and Order (NCPO) to devise measures aimed at bringing back foreign tourists and reviving the country's retail sector.
A tourist walks past a billboard featuring popular Brazilian footballer Neymar near Siam Square. Members of the Ratchaprasong Square Trade Association are trying to draw back local and foreign shoppers alike. PATIPAT JANTHONG
Chai Srivikorn, president of the Ratchaprasong Square Trade Association (RSTA), said boosting tourism and retail business should be a priority of the military regime.
"The world didn't understand what happened in Thailand," Mr Chai said. "We're trying to reset many things in order to reform the country. So far we're happy with the NCPO's performance in one month. It's beyond our expectations."
The NCPO has sped up economic measures such as approval of many big investment projects seeking Board of Investment privileges.
The stock market and consumer sentiment have signalled confidence, but specific measures for the tourism and retail sectors remain scarce.
"The NCPO should build an image of shopping safety in Thailand and what incentives foreign tourists will get when they visit our country," Mr Chai said.
One step the junta could take is reducing import tax on materials used for making fashion products, thus increasing the competitiveness of Thai labels. Brands such as Naraya and Jim Thompson could be promoted to tourists.
In addition, the import duty on luxury items could be slashed to 20% from 30-60%.
"All these measures would make Thailand a shopping paradise for various products and attract more spending from Chinese, Russian, Arab and Indian tourists, who are the top four spenders in Asia," Mr Chai said.
A survey by the Tourism Authority of Thailand (TAT) found that foreign tourists who visited Hong Kong for one day spent more on shopping than they spent during a five-day stay in Thailand.
The number of customers on the skywalk in the Ratchaprasong area has returned to normal levels, but Mr Chai voiced concern about hotel occupancy rates in the central area.
They have stalled at 40% compared with 70% in regular times last year. Nonetheless, rates are up from 30% earlier this year, when anti-government protests took place in many locations around Bangkok.
Mr Chai expects an improved hotel situation in the second half of 2014. The RSTA has taken comfort in a TAT projection that the number of Chinese tourists visiting Thailand would triple over the next five years.
Last year, Chinese tourist arrivals in Thailand reached 4.5 million.
The RSTA yesterday partnered with the TAT, Visa International and six shopping centres in the Ratchaprasong area for the Ratchaprasong Grand Sale 2014, an effort to draw foreign shoppers back to Thailand.
The campaign runs until Aug 31 and offers deals at six Ratchaprasong malls: Gaysorn, Amarin Plaza, CentralWorld, Erawan Bangkok, The Platinum Fashion Mall and President Tower Arcade. Shoppers can also enjoy privileges at seven luxury hotels in the area.
The campaign is expected to attract 400,000 Thai and international visitors and shoppers, especially Chinese and Japanese, and generate sales of 7.5 billion baht.