webfact Posted December 24, 2019 Share Posted December 24, 2019 Spending for New Year season to hit almost Bt138 billion By THE NATION File photo//TODAY Thais are expected to spend around Bt137.8 billion this New Year season, up 1.9 per cent, according to a University of Thai Chamber of Commerce (UTCC) survey. The expansion is the lowest in 14 years, UTCC president Sauwanee Thairungroj said on Tuesday (December 24). The university conducted the survey on 1,223 respondents. Bt11 billion is expected to be spent on parties, Bt9.61 billion on merit making, Bt17.43 billion purchasing consumer products, Bt1.16 billion on luxury products, Bt60.44 billion on domestic travel and Bt35.84 billion on overseas trips. The low expansion reflects Thais’ cautious spending due to their concern over a softening economy, said Thanawan Polvichai, director of the UTCC Centre for Business and Economic Forecasting. Source: https://www.nationthailand.com/business/30379803 -- © Copyright The Nation Thailand 2019-12-25 Follow Thaivisa on LINE for breaking Thailand news and visa info Link to comment Share on other sites More sharing options...
ramrod711 Posted December 25, 2019 Share Posted December 25, 2019 (edited) Money must be rolling in, not in my village, but somewhere. Edited December 25, 2019 by ramrod711 Link to comment Share on other sites More sharing options...
RichardColeman Posted December 25, 2019 Share Posted December 25, 2019 4 hours ago, webfact said: Bt11 billion is expected to be spent on parties, Bt9.61 billion on merit making, Bt17.43 billion purchasing consumer products, Bt1.16 billion on luxury products, Bt60.44 billion on domestic travel and Bt35.84 billion on overseas trips. So, let me get this straight - I'm not an Einstein mathematician - about the same money is going to spent by Thais running off abroad than on New year parties, merit making and consumer goods this holiday season ? That to me does not spell well for the Thai economy ! 2 Link to comment Share on other sites More sharing options...
nev Posted December 25, 2019 Share Posted December 25, 2019 The article is misleading it makes out it is a rise in spending and the article states otherwise. 1 1 Link to comment Share on other sites More sharing options...
30la Posted December 25, 2019 Share Posted December 25, 2019 Surely this money will be spent by 1% of the population (rich), the others have no money! 1 1 Link to comment Share on other sites More sharing options...
Inepto Cracy Posted December 25, 2019 Share Posted December 25, 2019 Who spending on what? The gov spending in submarines, subsidised rice and rubber pillow schemes, enriching themselves, hi-so's milking the country for what its worth.....the list just goes on. My prayer for the New Year is, Elighten the minds of those in power to join us in the 21st Centuary please, or you will get trodden underfoot by economics and reality. 1 Link to comment Share on other sites More sharing options...
hotchilli Posted December 25, 2019 Share Posted December 25, 2019 5 hours ago, webfact said: The university conducted the survey on 1,223 respondents So based on the above people they can come up with an accurate figure of the whole populous? Thai education is in a worse mess than I ever imagined! 1 Link to comment Share on other sites More sharing options...
Popular Post PatOngo Posted December 25, 2019 Popular Post Share Posted December 25, 2019 5 hours ago, webfact said: Bt9.61 billion on merit making, Would it not be better spent on food or clearing their debt? 5 Link to comment Share on other sites More sharing options...
generealty Posted December 25, 2019 Share Posted December 25, 2019 Never have I known a country so obsessed with money. Even when they mention tourists numbers its always along side money estimates. It would be nice to know or appreciate that we are a person before a figure - but hey I've only been here 23 years. 1 Link to comment Share on other sites More sharing options...
Traubert Posted December 25, 2019 Share Posted December 25, 2019 3 hours ago, Inepto Cracy said: Who spending on what? The gov spending in submarines, subsidised rice and rubber pillow schemes, enriching themselves, hi-so's milking the country for what its worth.....the list just goes on. My prayer for the New Year is, Elighten the minds of those in power to join us in the 21st Centuary please, or you will get trodden underfoot by economics and reality. If you read the article, it tells you on what. by who. 3 hours ago, hotchilli said: So based on the above people they can come up with an accurate figure of the whole populous? Thai education is in a worse mess than I ever imagined! How else do polls work around the world, plus, the article starts with 'Thais are expected to.....' not Thais will. Link to comment Share on other sites More sharing options...
sawadeeken Posted December 25, 2019 Share Posted December 25, 2019 Whose money is that 138 Billion???????....... It must be foreigners money (even when Thais are spending it).... LOL... I live in the USA but have a Mia-Noi in Thailand and I just told her I want her to buy food and drink for the 'HUGE village Family' to enjoy for Happy New Year On the 3 credit cards that I have provided her, and she has never abused.... I also have a Kasikorn account so I can make transfers while I am in the USA... Those transfers are made to a couple 'KIKs' who have babies that 'Thai men' aren't supporting.... SO I send Milk money for the babies a couple or three times a month.... ALL OF THIS IS FARANG MONEY..... Being spent in Thailand by Thais... THERE MAY BE OTHER FARANGS, such as myself.... and a few 'rich Thais'... But I can't see 138 Billion being spent... other than Farang money...... MAYBE 'MORE' FAKE NEWS........... OR...... Perhaps they are including in these figures what the PM is spending on Submarines and the 'Tanks' that will be used to 'enforce political disagreements on the streets of Bangkok' Link to comment Share on other sites More sharing options...
nev Posted December 25, 2019 Share Posted December 25, 2019 21 hours ago, PatOngo said: Would it not be better spent on food or clearing their debt? I find that Thais live for the day and spend with the same attitude, Putting money aside for a rainy day or forthcoming debt to pay is looked on in disdain when I suggest this. Link to comment Share on other sites More sharing options...
Srikcir Posted December 25, 2019 Share Posted December 25, 2019 22 hours ago, nev said: The article is misleading it makes out it is a rise in spending and the article states otherwise. It is a rise but On 12/25/2019 at 3:46 AM, webfact said: lowest in 14 years On 12/25/2019 at 3:46 AM, webfact said: low expansion reflects Thais’ cautious spending due to their concern over a softening economy So the good news is that the Prayut regime has yet to bring the economy to a standstill. Bangkokians plan to spend approximately Bt29.8 billion during the New Year festival 2020, a contraction of 3.2 percent compared to last year It took Yingluck's economic sprint back to a walk, then to a limp. Hooray. Another victory: Farmers’ happiness index in 2018 has improved from the previous year; yet Household debt in Thailand has hit a record high of Bt340,000 per household, an increase of 7.4 per cent over last year at this time Link to comment Share on other sites More sharing options...
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