Asia Economics: 3,500 Monkeys Take Over Thai City; Chinese Investments On Hold

Asia Economics: 3,500 Monkeys Take Over Thai City; Chinese Investments On Hold

It’s been reported that 3,500 monkeys are taking over Thai cities, and Chinese investments are put on hold. Check out the latest reports about this matter below.

Planet of the Apes hits reality

A city located in central Thailand is facing a grave risk of becoming a ghost town due to the menace caused by thousands of long-tailed monkeys.

The city of Lopburi, which was once a thriving trade hub in the province, is now facing the consequences of the monkeys’ takeover.

Several businesses and stores have shut down and left the city, as the monkeys have taken control of the area.

The Pingya Shopping Centre representative, Surachat Chanprasit, said that the monkeys frequently swarm the establishment and harass customers who come to shop. This has led to a significant decrease in the number of shoppers, causing a major blow to the local economy.

They also damaged storefronts, forcing owners to shell out for repair works and hastening their exit from there.

The local shopping centre has been struggling due to the mischievous monkeys that have been deterring people from visiting, resulting in a dwindling retail footprint.

As a result, the property was put up for sale two years ago, and despite the price being reduced from 100 million baht (US$2.8 million) to 70 million baht, it is still on the market.

This highlights the growing commercial toll on the city that is occupied by monkeys. To help tenants tide over the crisis after they sought to end their leases, the shopping arcade’s management also cut the rent.

According to Surachat, a Chinese investor had previously visited the area to check the feasibility of an investment. However, when the investor realized that the problem of the monkey population threatening the heart of the city had not been solved, he postponed the investment indefinitely.

According to Khaosod, the Lopburi Chamber of Commerce has stated that the existing regulations that limit the height of buildings and require the preservation of historical structures have worsened the problem in the area.

The group’s chief, Pongsatorn Chaichanapanich, has said that local businesses have abandoned the area across from the Phra Prang Sam Yot temple.

He further added that policy changes, such as amending the law to allow the management of monkeys in urban areas, are necessary to revive the city’s economy and increase tourism.

“The government needs to decide at the policy level how it will develop Lopburi as a historical city with many historical sites and how the government will help promote tourism in the province and attract more tourists,” he said.

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