Veg festivals to boost Q4 growth
Play
THAIS ARE expected to splurge 27.7 per cent more, or altogether Bt51.27 billion - the highest amount in seven years - for this year's Gin Je vegetarian festival, as it will be celebrated twice.
The University of the Thai Chamber of Commerce poll showed that this year’s vegetarian festival will play a key role in driving economic growth in the last quarter.
“The economy in the fourth quarter could grow 4-5 per cent, as the country has a new government, the budget for the next fiscal year has been passed, and the vegetarian festival will happen twice, stimulating greater spending,” said Thanavath Phonvichai, director of the university’s Economic and Business Forecasting Centre.
This year marks a unique occasion, which comes once in 182 years, when the ninth month in the Chinese calendar occurs twice. The first festival period will be from September 24 to October 2, and the second will be from October 24 to November 1.
The Nation
