Festive spending grows only 3.5%

 The growth rate is the lowest in five years. Last year's growth rate was 6.4 per cent.

 On per capita basis, consumers are expected to spend Bt8, 461.60 during this festive season.

 Spending has increased at a lower rate, reflecting the fact that consumers are highly concerned about economic stagnation and their future income next year. Notably, the increase is attributable to the higher prices of goods and services, not demand.

 The survey showed that up to 50 per cent of respondents would reduce their purchases due to higher good prices and 30.4 per cent would remain unchanged their purchasing behaviour.

 The 1,176 respondents were asked how they would spend money during the festive season. The highest proportion of respondents, 24 per cent, picked travelling as their top choice. Buying luxury products was the next-highest choice, followed by parties, purchasing durable goods, buying gifts, wine and alcohol, garment, and making merit.

The survey also found that more people would travel in the country rather than travelling overseas during the period. Only 1.9 per cent said they would travel overseas compared with 5.9 per cent last year. Expected spending for domestic travelling are Bt5.736 per person, and for aboard travel is Bt33.000 per person.

 45.5 per cent will finance their spending by salaries, 35.3 per cent from savings, 17.9 per cent from bonuses and extra income and the rest from other sources.  

 They also showed grave concerns on unemployment, accidents, traffic, crimes, and the increases in good prices.