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In 1997, the financial crisis seriously damaged the Thai economy and led to the closing of many companies. Previously, it had been believed that laid-off workers would mostly return to rural employment or part-time urban tasks. However, research among street vendors in Bangkok reveals that many of the retrenched workers preferred to, and did, remain in the city and put to use their latent business...
After the 1997 financial crisis, many retrenched workers preferred not to return to provincial homes but remained in Bangkok to establish informal retail businesses in branded and other consumer products. In contrast to traditional street vendors, who specialized in food items primarily catering for low‐income customers, and focused on high volume, these ‘new generation’ street vendors also adopted...
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