Retail, banking and tourism sectors are expected to benefit from the policies of the new coalition government in Thailand, which is led by the Move Forward Party.
The party won the most seats in the general election held on May 14, 2023, ending nine years of pro-military rule.
The retail sector is likely to benefit from the proposed cash handouts, lower electricity and fuel costs, and increase in minimum wages that will increase the purchasing power of the Thai people. Some of the leading retailers in Thailand include Central Group, The Mall Group, Robinson Department Store and Big C Supercenter.
The banking sector is also expected to see an improvement in loan demand and asset quality, as the new government will likely ease some of the restrictions imposed by the previous military regime. The banking sector has been struggling with high levels of non-performing loans and low profitability due to the sluggish economy and political uncertainty. Some of the major banks in Thailand include Bangkok Bank, Siam Commercial Bank, Kasikornbank and Krung Thai Bank.