Thailand’s consumer spending over the Lunar New Year could drop by more than a fifth to 44.9 billion baht ($1.5 billion) from 2020 after a Covid-19 outbreak hits consumption and activity, the commerce university said on Monday.
The estimated drop from 57.5 billion baht last year would mark the steepest spending fall in the period in 13 years, Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, told a briefing.
The Lunar New Year celebrations start from Thursday and normally signal a jump in spending by many Thais and visiting tourists from China…
