Songkran offers brief escape from oil crisis, report says
A Reuters report says Thailand’s Songkran celebrations are giving revellers a welcome break from oil-price anxiety, even as higher costs are expected to curb spending this year.
A Reuters report has cast Thailand’s Songkran celebrations as a welcome temporary escape from the global oil-price crisis, with the Thai New Year festival giving revellers a chance to enjoy water-splashing fun and festive colour even as rising living costs weigh on households.
Reuters said Songkran remains a major tourist draw and one of Thailand’s biggest spending periods.
Recognised by UNESCO as part of Thailand’s intangible cultural heritage, Songkran blends lively public celebrations with older traditions centred on family, respect and renewal. The water-splashing ritual is widely seen as symbolising cleansing, reverence and good fortune.
Yet the cheerful mood is unfolding against a tougher economic backdrop. Reuters reported that Songkran spending this year is forecast to fall 3.7% to about 130 billion baht, with 36% of respondents in a University of the Thai Chamber of Commerce survey planning to spend less. A separate Suan Dusit Poll found that 51.42% of respondents intended to skip festive activities to save money.
The report added that higher transport and living costs were prompting some people to celebrate closer to home, while vendors in Bangkok said demand for water guns had dropped sharply as shoppers turned more cautious.
