King Power Group, the country's sole duty-free operator, plans to spend more than 8 billion baht on its first business expansion abroad.
It will initially invest in two Asian countries: Japan, where most of the 8 billion baht will be spent, and Myanmar, for which it has a 100-million-baht budget, chairman Vichai Srivaddhanaprabha said.
The two international duty-free shops are expected to open next year.
"The number of international flights and the number of foreign tourist arrivals are key factors for King Power to make an investment decision outside Thailand," he said.
Japan is a popular destination for both Thai and Chinese tourists. (Courtesy of Bangkok Post)
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