Bt5.2 billion expected to be circulated during long weekend holiday

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Bt5.2 billion expected to be circulated during long weekend holiday
By Digital Content



BANGKOK, July 9 -- The University of the Thai Chamber of Commerce (UTCC) predicted that Bt5.2 billion would be circulated in the upcoming extended weekend including the national holidays.

Thanawat Pholvichai, director of the UTCC Centre for Economics and Business Forecasting, said that based on its survey of consumers, the university predicted that Bt5.261 billion would be revolving in the Thai economy from July 11 to 14 as families will go on vacation while the national economy was recovering.

The extended weekend includes the Asarnha Bucha Day on July 11, the Buddhist Lent Day on July 12 and the substitution holiday for the Buddhist Lent Day on July 14.

According to Dr Thanawat, most respondents believed that the long holidays this year would be livelier than those of last year because the national economy was recovering, the extended weekend covered four days, the National Council for Peace and Order was stimulating the local economy and there were more tourist destinations.

Under the circumstances, people will take vacations, have parties and spend. University of the Thai Chamber of Commerce expects Bt5.261 billion to change hands during the long holidays and the sum will be 5.4 per cent higher than the amount spent in the same period last year.

Dr Thanawat also predicted that over Bt200 billion of the national budget would be disbursed in the second half of this year and consequently the national economy would grow by 4 per cent in the second half of the year (3-4 per cent in the third quarter and 5-6 per cent in the fourth quarter).

Throughout this year, the national economy should expand by at least 2-3 per cent, he said.

He added that the value of Thai exports would increase by 3 per cent this year and that the Thai economy would grow by at least 5 per cent next year. (MCOT online news)


-- NNT 2014-07-09

[thesetat2013]

Add my 15000 to it? I just hope this trip a good portion will not go to the policemans party fund like last time i travelled.

Sent from my GT-S5310 using Thaivisa Connect Thailand mobile app

[fobuff]

well if holidays boosts the economy, why not declare a 365 day holiday per year. economy solved. This is free advice for the junta.

[Chao Lao Beach]

well, on this mentality, wouldn't be good for the county to have long weekend every week ?

[djjamie]

well, on this mentality, wouldn't be good for the county to have long weekend every week ?

Of course not…I don't understand your reply?

So if there were 365 days of weekends you believe I would suggest it is good for the economy? Of course not.

This is one day off to bridge a 4 day weekend thus allowing a stimulation of the economy.

For instance, me and the family are going to Udon on Thursday night to allow us to visit the new water park up there on Friday. Saturday will see us go to Central Plaza and to allow the kids to go on the train ride and to the play ground. Sunday will see us go to Nong Kai to visit the Aquarium. Monday will be visiting friends from Laos in Nong Kai and then back to Khon Kaen on Monday evening.

If there was not holidays I would spend 1000 baht on food for all of us. That's it.

If there was a long weekend every weekend most Thai's would run out of money after a few weekends and why travel every weekend if it was always a long weekend. This is a once off so why not..

May peace and reconciliation be with you my friend.

[JesseFrank]

I thought everybody would go to the free Zoo's this weekend ?

Will they spend 5.2 billion on the free food?

[JesseFrank]

I never realized that because someone claims for the past 3 weeks that the economy is recovering, the man in the street would have more money in his pocket overnight.

[metisdead]

Troll posts, personal attack posts and replies have been removed.

[Prbkk]

Nonsensical and economic lunacy

[bigbamboo]

Sounds like Yingluck is up for some retail therapy this weekend then.

[Emster23]

And how much is normally spent over a 3-4 period including weekend days?

[Soutpeel]

Nonsensical and economic lunacy

Yes dear boy, economic lunacy, maybe you could suggest a subsided rice scheme to boost the economy and make all the rice farmers rich within 6 months, or hand out free IPads to all the school child and buy some new clocks for parliament