Buriram: Pawn Shops See Business Surge By People Broke After Songkran

[webfact]

Pawn shops see business surge by people broke after Songkran

BURIRAM 19 April 2013 (NNT) – Pawn shops are seeing an increase in business as the Songkran festival dies down and people find themselves less endowed than they were just a couple days earlier.

In Buriram province, a large number of people have visited the government pawn shop in downtown Buriram city. Throughout the day, staff at the pawn shop tended to locals as well as tourists who were pawning gold, electrical appliances, silk and various other items. 90% of the pawned items were gold ornaments.

Most of the cash-strappedvisitors were pawning their possessions either to get money for household spending or to get cash to purchase bus and train tickets back to the locality where they work, after having used up their savings while visiting their families in Buriram.

More than 1,000 people pawned items at the pawnshop in the immediate aftermath of Songkran, contributing to at least 7 million baht of circulation per day. Normally, only 200-300 people pawn items at the shop each day. The pawn shop has reserved 130 million baht in cash and another 300 million baht of available funds to accommodate the customers. Pawn shop staff said the surge in business is expected to last an entire week


-- NNT 2013-04-19

[belg]

bad time to go exchange your gold for cash ...

ah thai people, saving up for the event is out of the question, they only live from day to day

[Dr Wanchai]

bad time to go exchange your gold for cash ...

ah thai people, saving up for the event is out of the question, they only live from day to day

Tell me how they can save up when they earn only 300 Bahts a day ?

They are just like all those in the West who earn minimum wage. The difference there is that tax payng high earners supplement their low income with so-called "benefits".

Thailand has no such system in place at this point in time.

[Khun Watchaporn]

No money until payday. Spend all you have on a party.

*sigh*

[Khun Watchaporn]

Tell me how they can save up when they earn only 300 Bahts a day ?

What you smoking there Doc?

[rotary]

Tell me how they can save up when they earn only 300 Bahts a day ?

What you smoking there Doc?

Ha ha

[khaowong1]

"Hey Ma.. we're broke.. tell Ying Songkran's over, get off her butt, get back to Pattaya and get back to work."

[Payboy]

"Hey Ma.. we're broke.. tell Ying Songkran's over, get off her butt, get back to Pattaya and get back to work."

Tapping Punters to pay Pawn.