Asia-Pacific News

CEO Outlook: Upbeat on Thai Retail

CNBC Mobile

Just four months after the political unrest in Thailand, confidence is returning and shoppers are coming back.

"You can see the local demand bouncing back," said Charn Srivikorn, chairman of Gaysorn Shopping Centre, a luxury shopping mall in the heart of Bangkok.

"It's about confdence, with the local visitors," he told CNBC.

The popular Ratchaprasong shopping district turned into a war zone in May when the area became the target of fatal bombings.

Bangkok's largest shopping mall, CentralWorld, which is due to reopen on September 28, gives reason for a further increase.

"Thailand will witness (an) increase in private consumption," said Kobchai Chirathivat, CEO of Central Pattana, the mall's developer, estimating a near double-digit jump in consumption in early 2010 from a year earlier.

"That shows people have a lot of confidence in the economy," he told CNBC.

About $90 million has gone into rebuilding CentralWorld after protestors set the shopping mall on fire during the political crisis.