In days gone by, shoppers beat a trail to Thailand in search of bargains. Today they are looking for luxury. Elite brands such as Dior, Louis Vuitton and Porsche are turning to Thailand to boost their sales as demand declines in other markets and the Kingdom emerges as an entrepot of top-echelon goods and services, according to Bloomberg News.

“Thailand has emerged as a critical luxury hub,” Jonathan Siboni, chief executive of Paris-based consultancy Luxurynsight, told the news agency.

According to several consultants, the thirst for opulence is being fueled by wealthy Thais and visitors from nearby countries even more than by global jetsetters or well-to-do travelers from other regions.

“Ladies who lunch, armed with Hermes handbags, and super cars parked outside glitzy malls, have become common in Bangkok, fueled by affluent local consumers and an influx of wealthy tourists from neighboring Southeast Asian countries and beyond,” wrote Bloomberg.

With demand for luxury goods flagging in some more established markets because of slowing economies and consumer unease, “some of the world’s most exclusive labels are turning their gaze on Thailand,” the news agency wrote.

Among them is Dior, which recently opened the Christian Dior Gold House in Bangkok. Built to resemble its Paris headquarters, the firm spared no expense, adorning its exterior with one million gold mosaic tiles.

“The potential for Thailand’s luxury market remains incredibly promising,” said Natira Boonsiri, Chief Executive Officer of the Central Department Store Group.

The capital’s growing stable of new luxury shopping malls is also achieving international notoriety.

“Malls in Bangkok are more extravagant when it comes to the exterior design and the facades,” said Amy Tseng, a Taiwanese tourist who has a marketing job in Houston. “A lot of people are talking about this.”

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