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SPENDING SURVEY
Spending during Lent long weekend to rise less than 2%, survey finds
Petchanet Pratruangkrai
The Nation

BANGKOK: -- Thais are expected to spend only 1.98 per cent more during the upcoming long weekend than they did last year, at Bt5.36 billion, because of the drought impact. But if there were no drought, they should spend 2.7 per cent more, or Bt5.4 billion, a survey by the University of the Thai Chamber of Commerce has found.

The UTCC's Economic and Business Forecasting Centre found that during this Buddhist Lent Day weekend from July 30 to August 2, spending would see the smallest expansion in three years.

Last year, Thais spent Bt5.26 billion during these special days, which was up by 5.43 per cent year on year. In 2013, spending was up 4.02 per cent, while in 2012 it rose by 7.31 per cent.

"The drought has caused weak sentiment for Thais to spend money for travelling during the long weekend, or even for making merit. People feel they need to keep their money for long-term spending as they are not confident about their future incomes," said Thanavath Phonvichai, director of the centre.

Under normal economic circumstances, spending during the special holiday should grow by no less than 5 per cent year on year, he noted.

Average spending during this long weekend will be about Bt2,649 per capita. Most spending will be for making merit. But normally, spending per capita should not be less than Bt3,000 per day.

Among 1,200 respondents, 43.7 per cent felt that spending during the upcoming long weekend would not grow significantly, 29 per cent foresaw better growth, and 27.3 per cent had a gloomy outlook because of the sluggish economy and rising prices.

More than 63 per cent of respondents will not travel during this long weekend, despite having four days off, while 36.4 per cent will travel, mostly within the country for making merit or going back to their home towns.

Source: http://www.nationmultimedia.com/business/Spending-during-Lent-long-weekend-to-rise-less-tha-30265420.html


-- The Nation 2015-07-29

[NongKhaiKid]

What's wrong, no grog sales ?

Don't worry, TAT will find the positive spin even if it is complete BS.

Edited July 28, 2015 by NongKhaiKid

[elgordo38]

What's wrong, no grog sales ?

Don't worry, TAT will find the positive spin even if it is complete BS.

Today is positive day guess tomorrow is negative day when they change the figures again. Well must trundle off to the bank and see if I can get a Lent loan.