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Thais are Getting Thriftier Says Poll

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Thais are Getting Thriftier Says Poll 

 

Dee-thrifty.png

 

Thais are spending less than usual, according to a recent poll by Suan Dusit Rajabhat University. The poll asked 1,174 people about their spending habits, of which around 70% stated they’ve cut back on leisure spend, around 40% said they are cooking at home more, around 23% plan their budgets, around 21% try to buy only at sales and around 20% are taking on extra jobs.

 

When asked about how they are saving on food, clothing, accommodation and healthcare, the participants gave further insights into their budget strategies. 

 

Regarding food, around 63% said they are eating out less and trying to cook at home more, 38% said they are limiting meal costs, and around 24% said they are only eating as much as necessary and storing leftovers for later consumption.

 

Regarding accommodation, around 66% said they try to use the minimum water and electricity, around 39% perform home maintenance themselves, and around 16% rent or share cheap accommodation.

 

Regarding clothing, around 54% said they shop less and try to buy clothes only during sales, around 40% said they try to make their clothes last longer or share clothes with others, and around 17% said they wear used clothes.

 

Regarding healthcare, around 60% said they do frequent exercise and get annual check ups, around 33% said they rely on welfare or social security, and around 28% said they eat a balanced diet.

 

When asked what costs they consider mandatory, the participants again gave further insights into their spending habits. Around 64% said transport, around 51% said healthcare, around 25% said loans, around 21% said their children’s education, and 19% said important life events for family and friends.

 

It’s not clear why Thais are spending less than usual but reluctance to release disposable income is a cause and a symptom of a recession. Perhaps the strong baht and declining tourist trade are contributing factors but it would be difficult to point out one single cause without exhaustive research.

 

Hopefully the Bank of Thailand’s efforts to address current economic trends will help stimulate the release of more disposable income.

 

This post cites the following sources: Bangkok Post, Chiang Rai Times, and The Thaiger, as well as the poll conducted by Suan Dusit Rajabhat University.

 

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  • Need new stimulus promotion from Junta to wipe out any meagre savings the peasants have.   How about :   Shop , Eat , get drunk , fornicate , buy new Honda Wave , buy lottery ticke

  • That is probably why the household debt are risen by 7.4%. For sure they spend less with that risen debt. Guessing the Fake News Agency are needed her again.

  • Don't worry. The Indians are coming.

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  • Popular Post

That is probably why the household debt are risen by 7.4%. For sure they spend less with that risen debt. Guessing the Fake News Agency are needed her again.

  • Popular Post

Send Prayut and his accomplices and bosses to jail and problem solved. 

  • Popular Post

 

 

 

 

40 minutes ago, alexth said:

Send Prayut and his accomplices and bosses to jail and problem solved. 

Slowly, but only slowly, there is emerging an understanding that perhaps politicians are not the most intelligent people to handle the planet Earth and our future, that possibly they are the real danger to our survival on this planet

  • Popular Post
4 hours ago, alexth said:

Send Prayut and his accomplices and bosses to jail and problem solved. 

 

 Tut tut , they are a democratically elected Goverment ..

      

 

 

 

4 hours ago, akampa said:

 

 

 

 

Slowly, but only slowly, there is emerging an understanding that perhaps politicians are not the most intelligent people to handle the planet Earth and our future, that possibly they are the real danger to our survival on this planet

depends on the politicians...the current ones seem hell bent on destroying the livelihood of ordinary people

A still tongue makes for a happy life, one of the mantras of Thai education ( its not on the curriculum by the way and neither can they speel curriculum ).

  • Popular Post

Need new stimulus promotion from Junta to wipe out any meagre savings the peasants have.

 

How about :

 

Shop , Eat , get drunk , fornicate , buy new Honda Wave , buy lottery tickets, donate to temple , get drunk again , buy medicine , go hospital.

 

If that package fails to boost the economy fall back on selling high interest cheap bonds to the Chinese , sack all teflers and promote Mandarin as the second language.

 

 

Posted in jest but could resemble the future to an alarming degree if the current government remains in power.

  • Popular Post

Don't worry. The Indians are coming.

13 hours ago, ThaivisaSales said:

It’s not clear why Thais are spending less than usual but reluctance to release disposable income is a cause and a symptom of a recession.

Sheesh, and I thought my education was not the greatest !

Thai economic statistics are false. In reality the Thai economy is very weak with much higher unemployment than is being reported, so people are hanging onto their money.

On 11/30/2019 at 3:50 PM, Snuller21 said:

That is probably why the household debt are risen by 7.4%. For sure they spend less with that risen debt. Guessing the Fake News Agency are needed her again.

They spending less because they have no money to spend and are borrowed up to the max, nothing to do with smartening up.

 

my possible gf, has juice wholesale business., she said profits have halved since the new government 

 

costs remained the same if not higher but profits halved.  How you expect her to spend ?????

Its like throwing a person in the deep water that can’t swim and then hoping that he will not drown. 

Wish mine was!

"around 23% plan their budgets" To me this speaks volumes about the debt problems. Don't the average Thais normally budget their expenses. For me this is a habit. Something I have done since I started working for a living. I know how much I have available each month, what payments are due, how much I can spend on entertainment, how much I will put away as savings, etc. Surely everyone who is working and living off a wage or a salary needs to budget. It is common sense.   

21 hours ago, Frankie072 said:

Thai economic statistics are false. In reality the Thai economy is very weak with much higher unemployment than is being reported, so people are hanging onto their money.

 

I never really understood this. Official unemployment is just 1% ?   And they worry about foreigners working in Thailand.

 

 

On 11/30/2019 at 9:29 PM, nong38 said:

A still tongue makes for a happy life, one of the mantras of Thai education ( its not on the curriculum by the way and neither can they speel curriculum ).

speel ?

On 11/30/2019 at 9:29 PM, nong38 said:

A still tongue makes for a happy life, one of the mantras of Thai education ( its not on the curriculum by the way and neither can they speel curriculum ).

Most women would probably not agree with that. Nothing more pleasing than an active tongue. 

Why don't you pass these numbers to the military government?
Certainly you must also explain that these are the answers of people who find themselves in the situation of having to calculate what they can spend daily!
The general will reply that your dates are not true because the economy is in an absolute increase!

The poll asked 1,174 people about their spending habits, out of a population of over 65 million!

 

A significant a figure is 1100 people LOL as to the number of pigeons crapping on my roof every day.

last week saturday night which normally is "primetime" especially in december, a big chang beer sponsored outdoor event, beer garden/concert at "the street mall" bangkok was nearly empty.

Edited by atyclb

On 12/3/2019 at 4:34 PM, GarryP said:

"around 23% plan their budgets" To me this speaks volumes about the debt problems. Don't the average Thais normally budget their expenses. For me this is a habit. Something I have done since I started working for a living. I know how much I have available each month, what payments are due, how much I can spend on entertainment, how much I will put away as savings, etc. Surely everyone who is working and living off a wage or a salary needs to budget. It is common sense.   

It may be common sense but it is something that most people don't know how to do in any country.

 

Credit cards and credit have become too easy to get and all people look at is how much they can buy and not the interest.

 

Government spending initiative to help businesses are going to help businesses but hurt people.

 

 

Students in matayom need to get a course in financial management before they get to mat 5 so they can understand what the education system in University is going to cost them

In a recession, everybody spends less, and as a result half the existing businesses fail.

Just wait till they get the 6 Thb pay rise, they won't know wether to save it ,

or spend,spend ,spend,????

regards worgeordie

My wife couldn't possibly get any thriftier, even her mum calls her cheap charlie. 

Went to Central Festival Pattaya yesterday afternoon. Sunday. High season. It was quiet everywhere, the shops, the restaurants . Had a look in my usual spa shop which was generally full and needing to queue , empty. No queue either at Starbucks. Even the baht buses were not forcing people to squash on. Back to Jomtien, apart from a crowd  around the  jet ski championships and night market where the few tourists seem to eat, it’s dead. The Boathouse empty, my usual haunt which is always full empty too. Thais are worried. The Christmas week will soon be here, and will tell us if it’s going to be a good, or dangerously low , high season. 

 

On 11/30/2019 at 10:24 AM, ThaivisaSales said:

around 40% said they are cooking at home more

So who uses all the home food services in Grab, Pandafood and so on ...?
Here, (not a tourist destination) the scooters of the two services listed above are increasing day by day!

On 11/30/2019 at 11:20 PM, donnacha said:

Don't worry. The Indians are coming.

The cowboys who run the jetski boats will be pleased about that.

They are going to get a 6 Bt a day pay rise.. that should turn things around...

As the Baht advances—it hurts more and more people.  Factories downsize, exports diminish, tourism shrinks, and the SET closes in the red more and more.

“It’s the economy, stupid!” former US President Bill Clinton, commenting on a collapsing economy.

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