Spending during Asanha Bucha, Buddhist Lent holidays may top THB6bn - National News Bureau Of Thailand
BANGKOK 19th July 2018 (NNT) – The Center for Economic and Business Forecasting (CEBF) at the University of the Thai Chamber of Commerce, has estimated spending during the upcoming Buddhist holidays late this month at over 6 billion baht.
After a survey was conducted among 1,238 people across the country concerning their spending plans for Asanha Bucha Day on July 27 and Buddhist Lent Day on July 28, CEBF Director Thanawat Polvichai indicated that most intend to spend their money on religious activities, such as offering food and necessities to monks and going to temples to join in candlelight processions. Others said they are planning to go on vacation, both in and outside of Thailand.
In comparison with last year, the Director reported a significant jump in the average budget set aside by holidaymakers, especially those in Bangkok and its vicinity. He said a total of 6.47 billion baht is likely to be spent during the holidays, an increase of 4.1 percent.
According to the survey, the majority of respondents also believe the Thai economy is recovering gradually. Mr Thanawat said the CEBF has forecast continuous economic growth this year and may revise its annual growth projection up from 4.2-4.6 percent to 4.5-5.0 percent in the middle of August. However, risk factors requiring close monitoring include trade conflicts in the global arena and the impact on Thai tourism from the recent tour boat capsizing incident in Phuket.