UTCC: This year Loy Krathong might not be as lively

BANGKOK, 29 October 2014 (NNT) — The Center of Economics and Business Forecasting, of the University of the Thai Chamber of Commerce (UTCC) predicts that this year's Loy Krathong Festival will generate the lowest economic input in 8 years.

The Director of the UTCC's Center of Economics and Business Forecasting (CEBF) Thanavath Phonvichai, today revealed the results of a survey of people's intended spending in the 2014 Loy Krathong Festival.

The survey shows that 77.2 percent of the people plan to attend the Loy Krathong festival as most of them consider it a distinctive part of Thai culture that should be preserved and enjoyed. Many intend to pray for good fortune, as well as use the occasion to relax with family and friends.

This attendance will generate approximately 11.1 billion baht in expenditure, which is an increase of 2.3% on last year. Much of this outlay will take place in greater Bangkok, expected to be to the tune of about 3.9 billion baht, while elsewhere in Thailand personal spending on the festival will run up another 7.2 billion baht.

However, expectations are that this year's festival won't be as lively as others, and economic expansion during the festival may be the lowest in 8 years, excluding 2011 when there was the great flood.

The UTCC's CEBF director also claimed that the economic situation is currently in stagnation. Therefore, the government should speed up budget payments from November, to stimulate the Thai economy in 2014 to expand by 1.3-1.5 percent.


-- NNT 2014-10-29

sanitised Thailand

the new TAT slogan?

The new happiness?

Loy Katoy

Maybe that because most people now know the money and candles are robbed 50m down river, and Thais are getting pissed off with it too, as well as farangs. Romanticisim watching your hopes for a better year get rather wasted, when you see a snorkel rip your lover's candle diminish into the hands of a little thieving bastard 50 metres away, rather than sailing off into the sunset, wasn't exactly the idea.

Then again. I'm sure farangs will get blamed for the loss of income, as usual.

Maybe that because most people now know the money and candles are robbed 50m down river, and Thais are getting pissed off with it too, as well as farangs. Romanticisim watching your hopes for a better year get rather wasted, when you see a snorkel rip your lover's candle diminish into the hands of a little thieving bastard 50 metres away, rather than sailing off into the sunset, wasn't exactly the idea.

Then again. I'm sure farangs will get blamed for the loss of income, as usual.

If you only had a clue.

To be honest, if you are in a high attended area for Loy Krathong you are lucky if it gets more than 20 metres before a cheeky little kid has not snatched the money off the Krathong and taken it back to the shop to re-sell. I stopped doing it when it happened 2 yrs in a row and no Thai's did anything about it. I might put a fire cracker in this years one and see how the little buggers like that!

Will we ever see a follow-up on if the 11.1 million baht figure came true?

Maybe that because most people now know the money and candles are robbed 50m down river, and Thais are getting pissed off with it too, as well as farangs. Romanticisim watching your hopes for a better year get rather wasted, when you see a snorkel rip your lover's candle diminish into the hands of a little thieving bastard 50 metres away, rather than sailing off into the sunset, wasn't exactly the idea.

Then again. I'm sure farangs will get blamed for the loss of income, as usual.

that is hilarious I see you are new to Thai Visa and I strongly suspect you are new to Thailand.

Will we ever see a follow-up on if the 11.1 million baht figure came true?

The expectation is 11.1 billion.

As for follow-up, in Thailand

Have a actually read a story which is basically downbeat ?

If this had been submitted in advance for official approval it would never have been printed.

Maybe that because most people now know the money and candles are robbed 50m down river, and Thais are getting pissed off with it too, as well as farangs. Romanticisim watching your hopes for a better year get rather wasted, when you see a snorkel rip your lover's candle diminish into the hands of a little thieving bastard 50 metres away, rather than sailing off into the sunset, wasn't exactly the idea.

Then again. I'm sure farangs will get blamed for the loss of income, as usual.

that is hilarious I see you are new to Thai Visa and I strongly suspect you are new to Thailand.

FAIL!

Im surprised that it wont break any records im even more surprised that they told us

Next logical step is to realize we have a water shortage and impose a limit on the size of water guns that can be used during Songkran. Maybe cancel the sale of water guns and issue free eye droppers. Also cut this "holiday" back from 4 days to 4 hours. Well I can dream can't I?

Maybe that because most people now know the money and candles are robbed 50m down river, and Thais are getting pissed off with it too, as well as farangs. Romanticisim watching your hopes for a better year get rather wasted, when you see a snorkel rip your lover's candle diminish into the hands of a little thieving bastard 50 metres away, rather than sailing off into the sunset, wasn't exactly the idea.

Then again. I'm sure farangs will get blamed for the loss of income, as usual.

50 metres? At Saphan Phut the krathongs are lucky to last 3 metres before being trashed by the thieving little scumbags.

However, expectations are that this year's festival won't be as lively as others

I rather doubt that in most traditional villages that this year's celebration will be any less rowdy or raucous or more sober than any previous years. In fact I have seen a trend towards more liveliness as some of the elders, who were traditionally enlisted to judge the fireworks competition, no longer bother to make it towards the temple grounds as they can't be bothered to deal with their inebriated children and grandchildren.