The head of a Thai restaurant association painted a grim picture of the future of eating out in small and medium sized restaurants as the slow economy bites and competition is fierce.
Ladda Samphaothong of the Restaurant Business Trade Association predicted that 2,300 businesses would fold this year.
This compared to just 1,000 in the whole of last year.
She said that the slow economy means that Thais were eating out less and she also blamed the labour law that has seen foreign migrant workers return home in droves.
Also mentioned as contributing factors were foreign owned franchises squeezing out locals by offering discounts and two for one deals as well as the increasing emergence of online delivery services.
Isaan is the worst place for closures with 700 businesses in the region shut already this year, 300 in the north and 300 elsewhere.
This 1,300 total is expected to rise to 2,300 by year end said Ladda.
(Source:Daily News)