CityNews – While much of the world is suffering from the global recession it seems that the wealthiest Thais just can’t stop spending, and London is apparently their favourite place to live big.
It was reported in an article in The Times June 24th that “Thailand in the capital is outpacing all other nationalities this year” in terms of spending, according to spending research company Global Blue. They also reported that Thais visiting the English capital had risen 70% from this time last year.
The article states that though the Chinese have made headlines in the last few years after so many countries have seen a massive boost in Chinese tourism, Thais are hot on the heels of the Chinese in terms of spending abroad.
The Crown Prince of Thailand made headlines last year after allegedly spending 10,000 pounds in a Hampshire antique shop last year after he touched down on English soil in his private 737 jet. This year shops in Mayfair and Chelsea have been experiencing many more Thai smiles. The rich can afford to smile as reports state that the richest Thais just keep getting richer. While the wealthy can’t seem to stop spending more and more on luxury goods, The World Bank reports that Thailand is by far the worst country in the region in terms of income equality. It also reports that the distribution of wealth is not getting any fairer as Thailand experiences an economic boom, and rich Thais become the biggest spenders in town while holidaying in West London.