Thailand’s Kasikorn Research Centre (KResearch) projects the political impasse and the cost of living in the capital will cause lower spending among the public, with spending expected to shrink at 13.7 during the Songkran festival.
KResearch surveyed the tentative planned Songkran spending behaviour of 500 Bangkokians, aged 16-65, during March 18-24. It found that the amount of money expected to circulate during that period was Bt22 billion, a shrinkage of 13.7 per cent, the first time in five years.
For Songkran this year, Bangkokians will opt for staying in the capital and do more activities in the city, while the proportion of those wishing to return home for the holidays is lower.
The main activities during Songkran include parties among families and friends, while, shopping, which was a major activity last year, tended to be less popular as a result of the public’s lowered purchasing power.
Events and fairs held for discounted goods remain as main marketing strategies attracting Bangkok residents to spend their money during the Thai New Year holidays.
