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Thailand is launching an-all out shopping war to lure mainlanders away from Hong Kong.新蒲崗迷你倉 But businesses in the SAR are not too worried about losing lucrative custom to the tourist-hungry Southeast Asian kingdom. The Thai moves will see import duties slashed or scrapped on a range of luxury goods by the end of this year, Permanent Secretary for Finance Areepong Bhoocha-Oom said yesterday Duties on watches, clothes and cosmetics, which stand at 30 percent now, will range between zero and 5 percent by December. Areepong said that while the measures are aimed at drawing more tourists from the mainland, Thailand's 7 percent value-added tax on goods and services will remain in place. All first-tier mainland cities - Shanghai, Guangzhou, Beijing and Shenzhen - have direct flights to and from Bangkok daily. Hong Kong has been a shopping paradise for both mainlanders and other Southeast Asians, including Thais, as it charges no VAT or import duties on luxury goods. Therefore, our retail price tags are usually lower than such visitors would face back home. Also, the latest models of any fashion or electronics brand are more readily available in the SAR. Thailand has long been a popular destination for both mainland and Hong Kong tourists. But its beaches, nightspots and temples are the primary attractions, not its malls for those looking for upmarket brands. Hong Kong Retail Management Association chairwoman Caroline Mak Sui-king said she sees Thailand's move as a potential threat as some tourists may be diverted. "But Hong Kong still has advantages in a rich variety of brands and proximmini storagety to the mainland, especially for those tourists who want to do their shopping and return home the same day," she said. More than 43 percent of the 34.9 million mainland visitors to Hong Kong last year did not stay overnight. Jetour Holding chairman Ho Pak- ting said he does not think more Hongkongers will rush to Thailand to buy cheaper luxury goods. "Hongkongers are different from mainlanders, who are only crazy about shopping. We go in for fresh air, foreign culture and cuisine," Ho said. He added locals usually buy cheap daily clothes in Thailand, instead of luxury bags or shoes. "Thailand is a nice place for a spa and a massage." For his part, ANZ senior economist Raymond Yeung Yu-ting said "sightseeing, not shopping, is Thailand's core competency." In addition to luxury items, mainlanders also shop for daily necessities in Hong Kong now, Yeung said, adding that the really wealthy will fly to Europe if they want more luxury items. Retail sales in Hong Kong sharply slowed in July, rising 9.5 percent on- year to HK$40 billion from the 14.7 percent growth registered in June as local consumption softened. But sales of luxury goods, including jewelry and timepieces, stayed strong. Thailand expects tourist arrivals to surge 18 percent to 26.4 million this year, helping to counter a slump in exports and domestic consumption. Tourism and services industries account for 50 percent of Thailand's gross domestic product. Last year, the country attracted 2.8 million mainland visitors, up 62 percent from 2011 - accounting for 12.5 percent of total arrivals. grace.cao@singtaonewscorp.com self storage