The University of the Thai Chamber of Commerce (UTCC) has released a study speculating that spending over this year’s Chinese New Year holiday will reach its highest level since 2006.
The poll, which surveyed 1,200 people, showed that spending during the holiday should reach 45 million baht, a year-on-year increase of 12.3%.
In addition to consumer goods, the report showed that many celebrants intended to spend lavishly on merit making.
The Bangkok Post reports that the highest level of spending is expected to take place in the south, where the THB300 minimum wage has resulted in an overall rise in discretionary income.
