2014 New Year’s holiday spending not lively

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BANGKOK, Dec 24 – The upcoming New Year spending atmosphere will not be lively, according to the rector of the Thai Chamber of Commerce University.

Saowanee Thairungroj, the rector, said the university’s survey on Thais’ spending behaviour during the upcoming New Year holiday indicated that Bt111 billion is expected to circulate,  an increase of 5.6 per cent compared to Bt105 billion in the same period last year.

Ms Saowanee admitted that this year’s spending is lower than expected, for the public is concerned about the political situations.

About the public’s spending plan during the New Year, she said 39 per cent said they would stay home and do various activities with money expected to circulate for parties at Bt8.2 billion, merit making at Bt8.9 billion, consumption at Bt12 billion, luxury items at Bt730 million and durable goods at Bt1.5 billion.

Ms Saowanee said 60 per cent of the respondents said they wish to travel, of which Bt50 billion is to travel in Thailand and Bt28 billion for travelling abroad.