UTCC expects bleak Makha Bucha and Valentine’s Day this year


BANGKOK  – Concerns regarding the novel coronavirus and an economic slowdown will keep many people mostly at home, instead of going to temples or going out on Makha Bucha and Valentine’s day this year, according to the University of the Thai Chamber of Commerce, which is expecting reduced cashflow during these festivals compared to last year.

University of the Thai Chamber of Commerce’s (UTCC) President Thanawat Polvichai, has revealed outcomes of a consumer behavior survey on the upcoming Valentine’s day, where most people surveyed, 57.1 percent, had no celebration plan due to the poor economy, higher goods pricing, novel coronavirus outbreak, and air pollution; which are posing concerns on safety and health.

Some of those surveyed are planning to have dinner with their loved one, purchase gifts and flowers for them, and go out together to shopping malls.

The UTCC expects that average spending per head this Valentine’s Day will be 1,814 baht, lower than the overall rate last year. The expected cashflow volume this year is 3.246 billion baht, showing a negative 1.23 percent.

For Makha Bucha Day, most people in the survey – 65.5 percent, said they will observe religious activities at respected or nearby temples. Overall total spending this Makha Bucha Day is expected to be 2.601 billion baht, a negative change of 2.5 percent.