Survey: New Year festival cash circulation tops 150 billion baht
A SURVEY by University of Thai Chamber of Commerce shows that Thais are eagerly celebrating the New Year festival and this will boost cash circulation by120 billion baht which is an increase of 3.4% from last year but shopping and domestic travel tax breaks further pushes up the total above 150 billion baht, Thai News Agency said today.
Sauwanee Thairungroj, president of University of Thai Chamber of Commerce, said that a survey of people’s spending pattern during New Year 2017 celebration with1,200 samples nationwide being questioned indicates that spending in Bangkok will total 63.906 billion baht while in the provinces 65.387 billion baht.
This adds up to 129.293 billion baht or an increase of 3.4% from last year.
The survey also shows that domestic tourism spending averages 12,818 baht a person while overseas travel 65,357 baht a person. As most people made their own travel plans this has led to package tour prices dropping by 10 to 30%.
Steps to spur the economy, both shopping and domestic tourism tax breaks, increased cash circulation by over 20.774 billion baht, with the shopping break bringing in 14.990 billion baht and domestic travel break 5.784 billion baht. This increases cash circulation during the New Year festival to over150 billion baht.
The survey also showed that wishes people most want to convey within the country are firstly wishing Her Majesty Queen Sirikit and His Majesty King Maha Vajiralongkorn good health while also wishing that the economy improves and there be lots of income.
On gifts they would like to give to politicians, 50.9% said they would like to give one to Prime Minister Prayut Chan-o-cha, 9.6% to Deputy Prime Minister Wissanu Krea-ngam, 8.1% to Defense Minister Prawit Wongsuwan and 7.3% to Deputy Prime Minister Somkid Jatusripitak.
Ranking first among politicians those surveyed would most like to travel with is Premier Prayut with 34.6% followed by former prime minister Yingluck Shinawatra with 14.2%, former prime minister Abhisit Vejjajiva with 10.6% and former finance minister Korn Chatikavanij with 9.0%.
Problems they would like the government to tackle the most include the overall economy, political stability, social problems and preparing for natural disasters.
Top: People shopping in Bangkok. Photo: Walter Lim (CC-BY-2.0)