The overall spirits businesses in Thailand has expanded by 20% since the start of 2023 and is set to pump in one billion baht into the economy every month in the second quarter, said Thanakorn Kuptachit, advisor to the Thai Alcohol Business Association.
Thanakorn revealed that the demand and purchasing power for alcoholic beverages in Thailand have been on an upward trend since January 2023, with sales expanding by no less than 20% each month.
All types of alcoholic beverages have witnessed an uptick in sale volume, such as beer and spirits, which are driven by many factors, including the lifting of all COVID-related restrictions, the reopening of the country for travel and tourism, the upcoming Songkran Festival, or even the general elections.
“There will be more gatherings, celebrations, and parties as the Songkran holiday approaches, coupled with the political atmosphere that is tensing up. These are significant variables that affect the demand and purchase of alcoholic beverages,” Thanakorn stated.
Also, this year, Thanakorn predicted that the alcohol market will generate revenue of atleast 1 billion baht per month, with April, which holds Songkran, being the most active month.
He also stated that as soon as the new government takes office after the May 14th poll, his association will push for the cancellation of regulations that prohibit the sale of alcohol between 2-5 PM, as well as the legal extension of opening hours for entertainment venues in popular tourist spots like Pattaya and Phuket.
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