BANGKOK, Nov 14 (TNA) – People will spend 9.7 billion baht in this Loy Krathong festival, down 2.3% from the same period last year, due to economic concern, according to the University of the Thai Chamber of Commerce.
Thanavat Phonvichai, UTCC’s director for economic and business forecasting, said the estimation resulted from the university’s survey on 1,221 people nationwide.
Of the respondents, 76.4% said they would go out to join the Loy Krathong festival to maintain and experience the tradition and pray for good luck. Meanwhile, 23.6% of surveyed people said they would not join the festival because they wanted to save money, avoid danger and were concerned about economic situations.
The survey showed that people would spend 1,442 baht each during the upcoming Loy Krathong festival on Nov 22, down from 1,556 baht as surveyed in the same period last year. The overall spending was thus estimated at 9.7 billion baht, Mr Thanavat said. (TNA)
