Songkran spending forecasted at Bt96 bn

Thais are expected to spend Bt96 billion during the Songkran holidays, according to the University of Thai Chamber of Commerce's survey.

The amount is 4.5 per cent up from Bt92 billion in the same period last year and UTCC attributed the small growth rate to consumers' concerns with goods prices as well as oil prices.

The survey, conducted on 1,200 respondents during March 31 and April 4, showed that the strong baht will also encourage more Thais to make overseas trips. While 79 per cent plans domestic trips, 20.9 per cent plan overseas trips.

Thanavath Phonvichai, director of the university's Center for Economic and Business Forecasting, said on Monday that 42 per cent of the respondents say they would spend more than last year, while 47 per cent expects no change and 10 per cent will spend less.

"The spending sum is higher than last year's and this is the indicator of the economic recovery. Still, most of the higher spending is due to the higher goods prices," he said.

- The Nation

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Songkran spending forecasted at Bt96 bn

Thais are expected to spend Bt96 billion during the Songkran holidays, according to the University of Thai Chamber of Commerce's survey.

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