Bangkok: Fast food dishes priced under 50 baht have become a rarity as the Thai Restaurant Association highlights declining purchasing power and restaurant industry growth falling short of expectations during the New Year period. Ms. Thaniwan Kulmongkol, President of the Thai Restaurant Association, disclosed that the restaurant sector did not experience the anticipated growth during the recent New Year's festival. The per-capita spending of customers witnessed a notable decrease, with many opting for meals costing between 100-150 baht, a significant drop from the previous average of over 200 baht per meal. This trend is attributed to the ongoing economic downturn and income instability.

According to Thai News Agency, the association estimates that restaurant revenues during the New Year period reached only 60-70% of the projected growth, despite an increase in customer numbers. The reduced spending per customer was especially evident in Bangkok and major tourist destinations such as Chiang Mai, Phuket, and Pattaya. Many smaller restaurants opted to close during this time, leading to concentrated spending in medium and large-sized establishments, including those located in shopping malls.

The rising costs of raw materials have made fast food priced under 50 baht almost nonexistent, compelling consumers to manage their finances cautiously amid economic concerns for 2026, including income uncertainty, diminished bonuses, and job risks. This situation is particularly affecting the middle class, who are choosing to save cash.

Additionally, the conclusion of government economic stimulus measures, such as the "Half-Price Co-Pay" project, has resulted in restaurant sales reverting to lower levels. The association suggests that longer-lasting policies, spanning at least 3-4 months, would have been more beneficial for sustaining businesses.

Nonetheless, the Thai Restaurant Association remains hopeful that the government will focus on economic stability, establish clear policies, and promote Thai food businesses abroad. They advocate for private sector involvement in shaping policies from the outset to help generate sustainable income for the country. "The domestic market has only 70 million people, but Thai food has the potential to go global. If the government integrates efforts seriously, mid-sized businesses can grow, and a significant amount of income will return to Thailand."