Festive decorations at Bangkok malls ahead of New Year festivities.
Spending during the New Year holiday is expected to stay below 100 billion baht for the first time in 10 years, attributed to the fresh surge of Covid-19 infections.
According to the latest survey by the University of the Thai Chamber of Commerce (UTCC), spending during the New Year festive season is estimated at 91.5 billion baht, a significant drop of 33.6% from 138 billion last year.
With the fresh round of infections, people are very concerned about the pandemic,” said Thanavath Phonvichai, president of UTCC. “The majority of people surveyed during Dec 14-23 prefer to stay home.”
According to Mr Thanavath, average spending is 9,876 baht per person, a fall from 15,615 baht per person year-on-year.
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