Uncertainty to fuel Elite membership
Political situation causing concern
Thailand Elite Card is expecting to gain a large number of new members, mainly Chinese business people residing in Myanmar who might not be confident about the political situation there.
Somchai Soongswang, president of Thailand Privilege Card (TPC), the operator of Thailand Elite Card, said Chinese customers account for 25% of the total portfolio of 13,000 members.
The military coup in the neighbouring country has fuelled unease among foreign investors as they seek a more secure place within close proximity of their businesses.
"Prior to the coup in Myanmar, the bulk of Chinese members had already relocated to Thailand and decided to buy a condo to stay in the country for the long term, particularly in Chiang Mai which is closer to the mainland," said Mr Somchai.