Retail and property developer Central Pattana Plc (CPN), the operator of Central malls, is banking on a tourism rebound to strengthen retail performance in the second half, especially in major cities.
Wallaya Chirathivat, president and chief executive of CPN, said the government initiatives in various programmes and incentives to lure back foreign tourists are positive factors that would help fully recover the number of tourists this year.
The Tourism and Sports Ministry would like to earn 3.5 trillion baht in tourism revenue from more than 35 million foreign arrivals this year. During the first five months, 15 million foreign tourists visited Thailand.
Ms Wallaya said CPN's malls in major cities have full recovered in terms of visitor traffic, matching the level recorded in 2019. The leading nationalities among foreign visitors were Chinese, Russian, South Korean and Malaysian.
However, the company still needs to evaluate the long-term impact of the 60-day visa-free programme for 93 countries.
She said shopping malls in the second-tier cities still need a boost to raise the levels of domestic and foreign consumption due to a lack of intensive tourism promotion in those areas.
In 2024, CPN expects to operate 42 shopping centres, 17 community malls, 43 residential projects, 10 hotels and 10 office spaces.
CPN has joined Bangkok Metropolitan Administration (BMA) and business partners in launching the Better Futures Project 2024 at CentralWorld until June 23 to showcase sustainability and environmental awareness.
Highlights include exhibitions, digital experiences and seminars addressing how to tackle climate change and reduce carbon emissions. Visitors can bring used plastic bottles and drop them at collection points in exchange for 1 point in CPN's loyalty programme.
CPN will also host a green expo in its five malls nationwide from July to November, covering over 5,000 square metres of activity spaces, said Mrs Wallaya.
Uthaiwan Anuchitanukul, head of excellence and sustainable development at CPN, said the company adopted waste separation at its malls, and has reduced electricity consumption by 719,171 kilowatt-hours, which is equivalent to 360 tonnes of greenhouse gas emissions.