Author Topic: 124 billion baht are expected to be spent by Songkran revelers this year  (Read 323 times)

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Offline thaiga

124 billion baht are expected to be spent by Songkran revelers this year

 This year’s Songkran festival is expected to generate 124 billion baht in spending by both Thai and foreign revelers which is said to be the highest amount for one single festival in ten years, according to a survey of the spending behavior of consumers during Songkran conducted by Univeristy of Thai Chamber of Commerce.

Mr Thanawat Pholvichai, director of business and economic forecast centre of UTCC, said that the anticipated high spending was attributable to the long holidays during which many people would travel for holidaying, return homes to visit relatives or for merit makings.

He said that economic stimulus packages, both old and new, and tax deduction measure which was recently introduced by the government would encourage people to spend more.

Thanawat said that Songkran celebration this year would be the most robust in three years. But overall he believes that many people are still cautious with their spending because of the price increases of consumer products and drought.

Meanwhile, UTCC rector Mrs Saowanee Thairungroj said that Spongkran spendings this year were expected to increase 4.5 percent from last year’s 119 billion baht to 124 billion baht this year.

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