BANGKOK, Feb 2 (TNA) – People are expected to spend over 58 billion baht during the Chinese New Year, starting next Tuesday, according to a survey conducted by University of Thai Chamber of Commerce (UTCC).
Thanawat Phonvichai, director of UTCC’s Economic and Business Forecast Centre, said the survey, conducted among 1,207 respondents nationwide between January 21 and 27 found that about 58.398 billion baht would be circulated during the Lunar New Year.
Mr. Thanawat said the projected amount is the highest money spent in the past 11 years of Chinese New Year, up 2.7 per cent year-on-year.
However, the amount is the least growth in the past seven years because people are still concerned about global economic slowdown and the United Kingdom leaving the European Union, he quoted the outcome of the survey.
On the current air pollution prevailing in Bangkok and nearby provinces, up to 71.5 per cent of the total respondents said people of Chinese descent are expected to burn less worship paper and firecrackers this year.
Also, the Centre forecasts that the PM2.5 problem in the Thai capital would continue until mid-February and would negatively affect the country’s economy between 8-10 billion baht because of slowdown in economic activities. (TNA)
