Spending during New Year holidays anticipated to exceed 129 billion baht

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Cash flow during the New Year holidays will exceed 129 billion baht, a 3.4% increase over the same period last year.

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According to the University of Thai Chamber of Commerce’s rector Ms Saowanee Thairungroj.

The estimated rise is attributed to the government’s ‘Shop for the Country’ and ‘Travel for the Country’ campaigns.

She said a recent survey carried out to gauge consumer spending habits for the coming 2017 New Year holidays revealed that planned consumer spending amounts to 129.293 billion baht which is a 3.4% increase over figures for the previous year.

On average individual expenditure for domestic tourism was found to be 12,800 baht/person while those intending to travel abroad will be spending on average 65,000 baht/person.

She said if the planned consumer spending figure is added to the government’s economic stimulus packages such as the ‘Shop for the Country’ and ‘Travel for the Country’ campaigns, no less than 20.774 billion baht will be added, bringing the total amount of cash flows generated to exceed 150 billion baht.