Family, food remain focus of spending

By THE NATION

 

WITH lower budgets for the Lunar New Year celebrations, Thais will focus their spending on family and food this year, a survey indicates.

 

The annual United Overseas Bank (UOB) (Thai) Lunar New Year survey was based on interviews with 500 people aged between 18 and 55 in November and December.

 

The survey revealed that the respondents expect to spend an average of 21 per cent less on Chinese New Year festivities than they did last year. Travel and shopping would be the main areas where Thais would economise this year, down 35 per cent and 45 per cent respectively, while food and red packets saw the smallest decline (down 6 per cent and 13 per cent respectively).

 

Full story: http://www.nationmultimedia.com/news/business/EconomyAndTourism/30305130

 

 

 

-- © Copyright The Nation 2017-01-28

Did I miss something here ? Why are people spending 21%, 35% and 45% percent less this year ?

 

Was there some kind of recession that I didn't notice ? The article mentions a rising cost of living since last year, what's changed ?

 

Seems about the same to me.

In case you haven't noticed, many Thais have cut down on festivities for a year.

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9 hours ago, rooster59 said:

WITH lower budgets for the Lunar New Year celebrations, Thais will focus their spending on family and food this year, a survey indicates.

 

If one of the two focuses gets out of focus trouble will be on the horizon. When having my daily beer sitting in front of at my favorite store and watching the world go by its hard to see any financial pain here when counting all the NEW 4 DOOR vehicles flying by. 2 door is so blase today.