BANGKOK, 6 April 2015, Kasikorn Research Center has projected that Bangkok residents would spend as much as 22.8 billion baht during this year’s long Songkran holidays, with half of the amount on party expenses.
The Center said the figure is an increase of 3.6% from 2014’s. As Bangkok residents’ purchasing power, which took a direct hit from political turmoil last year, has recovered.
The center elaborated that 11.5 billion baht would be spent on party expenses such as food and drinks; 4.6 billion baht would likely be on shopping, and 3.1 billion baht on accommodation and other travel expenses. It also speculated that merit makings would cost Bangkok residents about 3.1 billion baht, and about 500 million baht would likely be spent on water-spraying gear.
Another key factor that will boost spending of the capital residents, by up to 10-15 according to Kasikorn, is petrol prices, which have dropped by 30% since last year
According to the center’s survey, 54% of those residing in Bangkok said they would spend the Songkran period in the capital, and 27% of them plan to visit their hometown.
