Thai cosmetics, food firms tap into Chinese tourism boom
A big slice of the spending is with retailers, restaurants, and food and cosmetics makers that target the Chinese audience.
About 11 million Chinese tourists are expected to come to Thailand this year, up from just over 1 million in 2010, making China by far the biggest source of tourism here. And they are spending more per head than previously, according to Thai government figures.
And it isn’t only the hotels, tour operators and airlines that are benefiting. A big slice of this spending is with retailers, restaurants, and food and cosmetics makers that target the Chinese audience.
In 2017, Do Day Dream’s revenue ballooned 35 percent to 1.7 billion baht (USD 52 million) as the company also built a strong Thai domestic market and grew online sales direct to Chinese consumers. The company sells snail secretion-based products, including shower gel and lotions.
The sales to visitors are at risk, if for any reason there is a sudden drop off in Chinese tourists, said Piyawat Ratchapolsitte, the Chief Financial Officer of Do Day Dream.
Chinese tourists are also snapping up savory snacks. Taokaenoi’s crispy seaweed snack has been a hit for years.
About 20% of Taokaenoi’s 2017 domestic sales were to tourists, the company’s Head of Investor Relations, Koosoon Rattanaporn, said, while 60% came from exports, nearly half of them to China.
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