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Wednesday, February 8, 2023

Lunar New Year spending seen at 3-yr high

Thai economy expected to grow 3.6% this year, says UTCC

Lights and lanterns are on display ahead of the Lunar New Year in Pattaya, Chon Buri province. This year, the Lunar New Year falls on Jan 22. (Photo: Chaiyot Pupattanapong)

Thailand’s consumer spending over the Lunar New Year period could rise 13.6% to 45 billion baht (US$1.36 billion), a three-year high, as the economy recovers and China’s border reopening bolsters tourism, a university survey showed on Thursday.

The estimated spending compares with 39.6 billion baht last year, Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce (UTCC), told a briefing.

“This Lunar New Year will be the most active in three years,”…

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