King Power, the country's only duty-free operator, plans to bid for duty-free shops in Asia next year, in some cases in partnership with low-cost carrier AirAsia.
The company plans to participate in bids to run a duty-free shop at South Korea's Incheon International Airport, and another one at an international airport in Japan. It is also in talks to operate duty-free shops at international airports in Myanmar.
"We're looking for more opportunities overseas, particularly in Asean where travel demand will rise after the formation of the Asean Economic Community by the end of 2015," said chairman and chief executive Vichai Srivaddhanaprabha.
In Malaysia, Indonesia and the Philippines, King Power will join hands with the low-cost airline AirAsia. Details about the partnership were not disclosed.
Thailand is in a strategic location, being an aviation hub for the region, said Mr Vichai. Intra-regional travel will increase due to flight connection convenience and speedy immigration process at many major airports.
"The more people travel, the more they spend at duty-free shops," he said.
Mr Vichai is confident that the Thai duty-free company can compete with other operators in the Asian market.
King Power has been in the duty-free business for 25 years with a solid relationship with international product brands.
At home, King Power received a concession from the Airports of Thailand Plc (AoT) to run duty-free shops at Suvarnabhumi, Phuket, Chiang Mai and Hat Yai airports. It also operates three downtown duty-free shops — one in Bangkok's Rangnam Complex, one in Srivaree Complex and one in Pattaya.
It plans to open a fourth downtown duty-free shop covering 10,000 square metres of space in Phuket later next year. The outlet is 40 kilometres from Phuket airport.
Mr Vichai is optimistic that Phuket's tourism business remains healthy and the number of international tourists visiting the island is on the rise.
The number of tourist arrivals at Phuket airport was 11 million last year, of which 8 million were from overseas.
The number of arrivals is forecast to hit 13 million this year.