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Spending for New Year season to hit almost Bt138 billion

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Spending for New Year season to hit almost Bt138 billion | Samui Times
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Thais are expected to spend around Bt137.8 billion this New Year season, up 1.9 per cent, according to a University of Thai Chamber of Commerce (UTCC) survey.

Spending for New Year season to hit almost Bt138 billion | News by Samui Times

The expansion is the lowest in 14 years, UTCC president Sauwanee Thairungroj said on Tuesday (December 24).

The university conducted the survey on 1,223 respondents.

Bt11 billion is expected to be spent on parties, Bt9.61 billion on merit making, Bt17.43 billion purchasing consumer products, Bt1.16 billion on luxury products, Bt60.44 billion on domestic travel and Bt35.84 billion on overseas trips.

The low expansion reflects Thais’ cautious spending due to their concern over a softening economy, said Thanawan Polvichai, director of the UTCC Centre for Business and Economic Forecasting.

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