Bangkok folks to spend 10.5% more during Songkran this year: KResearch
Kasikorn Research Centre estimates that Bangkokians will spend at least Bt31.5 billion during the Songkran holidays, 10.5 per cent more than last year.
Most of the higher spending this year will be due to higher product prices, while many people plan a large number of activities during the five-day festival.
Of the total, KResearch expects Bt25.5 billion to be spent within the Kingdom, with the remaining Bt6 billion spent on overseas trips. A total of Bt8.4 billion is expected to be spent on party-related activities, followed by shopping at Bt7 billion, travel and accommodation Bt5.6 billion, merit-making Bt4 billion, and entertainment Bt500 million.
The banks have arranged supply of cash for people during the festival. Bangkok Bank said it had set aside Bt45 billion to facilitate people’s spending during Songkran. It also announced that micro-branches in shopping malls would be open for business every day from April 12-16. Normal operations will resume on April 17. The bank operates 7,500 ATMs nationwide.
Kasikornbank has prepared Bt28.2 billion for the period, including Bt21.4 billion for 7,900 ATMs.
Krungthai Bank has increased its cash reserves to Bt57 billion for the April 11-16 period, from Bt36.4 billion allocated last year.
Bank of Ayudhya has prepared Bt13.42 billion for the period: Bt9.45 billion will be for 4,388 ATMs nationwide and Bt3.97 billion for withdrawals at 601 branches.
