Spending for Chinese New Year predicted at Bt5.8 billion

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BANGKOK, Jan 25 – The Chinese community in Bangkok will spend at least Bt5.8 billion on offerings to their ancestors, or about Bt3,600 per household during the Chinese New Year, according to a survey.

Kasikorn Research Centre (KResearch) said heavy shopping will occur on Wednesday, two days before the auspicious Chinese New Year day.

Overall spending will see a 4 per cent growth – slower than last year which enjoyed a 6 per cent increase, mainly due to increased cost of living and higher commodity prices, it said.

The political turmoil has dampened the shopping atmosphere prior to the Chinese New Year, KResearch added.

Bangkokians prefer to shop at modern trade retail stores which they find more convenient, with all the necessary merchandise available at competitive prices.