BANGKOK : Thailand’s consumer spending could rise 17 per cent to 125 billion baht ($3.65 billion), a four-year high, during the upcoming Thai New Year as the economy and tourism sector gather steam, the commerce university said on Tuesday.
The figure would be the highest since the 136 billion baht spent in pre-pandemic 2019, suggesting the COVID-19 outbreak was resolved, Thanavath Phonvichai, president of the university told a briefing.
“Songkran this year should be bustling due to pent-up demand,” he said, referring to the festival that takes place from April 13 to 15. “There will be more money in the economic system,” he added.
Political rallies ahead of a general election on May 14 are also helping boost business and consumer activities, he said.
The Southeast Asian country removed COVID restrictions late last year to revive its vital tourism sector, which saw a surge in…
