Kasikorn research: Songkran likely to create 22 billion baht in circulation

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The latest survey by Kasikorn Research Center has indicated a rise in spending among Bangkok people during the Songkran festival due mainly to political stability and a drop in petrol prices.

The indication resulted from the center’s behavioral survey of 524 Bangkokians during March 20-27, which found that the number of Bangkok residents choosing to remain in the capital city during the Songkran holiday dropped to 54 percent from 59 percent year-on-year. The percentage of those planning to spend the long holiday upcountry remains at 27 percent.

According to the respondents, the peaceful political atmosphere and cheaper oil prices do influence their urge to travel. In terms of spending, the survey found that most holiday makers would pay their money for food and drinks, shopping, trips, accommodation, religious activities and entertainment. Top destinations for Bangkok vacationers are Chiang Mai, Chonburi, Petchaburi, Phuket, Prachuap Khiri Khan, and Ayutthaya. Their celebratory activities are expected to generate over 22 billion baht in circulation.

The center suggested that tourism and service operators make use of the upward spending trend by launching promotion and marketing campaigns that suit the needs of consumers.