Academics predict that spending in Thailand during the Songkran holiday next week will be the lowest in 10 years. An associate professor at the University of the Thai Chamber of Commerce said he expects people to spend around 106 billion baht altogether across Thailand this year. This will be 5.4% less than last year, when public spending was recorded at about 112 billion baht. This was 21.4% lower than in 2019, before the outbreak of COVID-19.
The professor, Dr. Thanavath Phonvichai, said on average, people in Thailand will probably spend around 4,779 baht per person over the almost week-long break. The professor’s predictions are based on a survey the UTCC conducted on expected spending behaviour during Songkran. He said the expected low spending is due to the spike in oil and consumer prices. He added that people are more likely to celebrate Songkran close to home this year…
