Thailand to see US$3.6bil spending during New Year-water festival

BANGKOK, April 3 (Reuters): Thailand’s consumer spending could jump 64% to 113 billion baht (US$3.61 billion) during the upcoming Thai New Year after last year’s slump when tighter coronavirus curbs were in place, the commerce university has announced.

But excluding 2020, when the country imposed full outbreak restrictions, spending would be the lowest in nine years, Thanavath Phonvichai, president of the University of the Thai Chamber of Commerce, told a briefing.

“People are still worried about Covid-19 and they feel the economy has not recovered yet,” he said, adding spending in pre-pandemic 2019 was 136 billion baht.

“Last year, there was a nationwide lockdown and no Songkran holidays,” he said, referring to the festival that takes place from April 13 to 15.

While Thailand allows some celebrations this…