BANGKOK, July 9 — The University of the Thai Chamber of Commerce (UTCC) predicted that Bt5.2 billion would be circulated in the upcoming extended weekend including the national holidays.
Thanawat Pholvichai, director of the UTCC Centre for Economics and Business Forecasting, said that based on its survey of consumers, the university predicted that Bt5.261 billion would be revolving in the Thai economy from July 11 to 14 as families will go on vacation while the national economy was recovering.
The extended weekend includes the Asarnha Bucha Day on July 11, the Buddhist Lent Day on July 12 and the substitution holiday for the Buddhist Lent Day on July 14.
According to Dr Thanawat, most respondents believed that the long holidays this year would be livelier than those of last year because the national economy was recovering, the extended weekend covered four days, the National Council for Peace and Order was stimulating the local economy and there were more tourist destinations.
Under the circumstances, people will take vacations, have parties and spend. University of the Thai Chamber of Commerce expects Bt5.261 billion to change hands during the long holidays and the sum will be 5.4 per cent higher than the amount spent in the same period last year.
Dr Thanawat also predicted that over Bt200 billion of the national budget would be disbursed in the second half of this year and consequently the national economy would grow by 4 per cent in the second half of the year (3-4 per cent in the third quarter and 5-6 per cent in the fourth quarter).
Throughout this year, the national economy should expand by at least 2-3 per cent, he said.
He added that the value of Thai exports would increase by 3 per cent this year and that the Thai economy would grow by at least 5 per cent next year.
