Chinese Thais set to spend more this Lunar New Year
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Most Chinese in Thailand plan to celebrate the upcoming festive season with a larger budget compared to last year, according to the annual United Overseas Bank’s (UOB) Lunar New Year Survey.
Like last year, their top spending priorities are red packets, shopping and family reunion dinners.
Overall, they intend to spend an average of Bt37,400 each to usher in the Year of Monkey, more than double from last year’s budget of Bt17,400. The increase can be attributed to more respondents planning to travel, with one in three respondents planning to go away during the festive period, as compared with 27 per cent last year. The majority of respondents who planned to travel this year, totalling one in five of all respondents, will do so domestically.
The budget for shopping doubled owing to the increase in purchase of clothes and electronic appliances. The budget for red packets nearly doubled this year from last year.
