The upcoming Chinese New Year festival, set to start on Thursday, February 8, is predicted to witness the largest financial outlay by Thai locals in over a decade, thanks to the nation’s economic resurgence following the pandemic’s impact.
The annual survey conducted by the University of the Thai Chamber of Commerce (UTCC), monitoring consumer expenditure during the festival, foresees a 10.1% rise to 50 billion baht (US$1.39 billion), compared to last year’s 45 billion baht (US$1.25 billion).
Thanavath Phonvichai, UTCC President, acknowledged the unevenness of the economic recovery but noted an increased propensity for travel planning and higher spending. Consequently, this year’s Chinese New Year spending could surpass that of 2023.
The festival is expected to attract between 800,000 to 1 million international visitors to
