New record for New Year spending
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New Year spending will exceed Bt100 billion for the first time in history, thanks to the rosy economic growth and higher purchasing power, according to the survey by University of Thai Chamber of Commerce.
The survey was conducted during Dec 17-22, covering 1,213 respondents.
The UTCC estimated that spending will hit Bt105.83 billion, up 15.6 per cent from the previous year. This is the biggest increase in 7 years.
Of total spending, 29.1 per cent will be spent on parties, 16.6 per cent on merit making, 13.5 per cent on new shoes, 11.6 per cent on travelling, 10.5 per cent on alcoholic drinks. It is estimated that each would spend Bt9,153 during the festive period.
About 11 per cent of travellers plan overseas trips, against 2.3 per cent in the past year.
