Grassroots will spend 57 billion baht during the New Year festival

BANGKOK, Dec 29 (TNA) – The Government Savings Bank has found from its survey that the grassroots will spend totally 57 billion baht, or 3,765 baht per person, on New Year holidays. The state-run bank conducted the survey on 1,849 people earning up to 15,000 baht a month nationwide and came up with the anticipated spending, said the bank’s president Chatchai Payuhanaveechai. He said that the spending benefited from government measures to stimulate spending near the year’s end, public welfare and extended holidays. The survey also found that 51% of respondents had either the same level of income or higher than their income in the previous year. Besides, 51.4% said the New Year spending came from earnings, 36.3% from savings, 7.5% from loans including informal ones and 4.8% from government subsidies. The most favourite gifts that the respondents will buy are foods, clothing and health beverages; and the most common recipients of their gifts are family members and the senior people they respect. Asked about their New Year resolutions, most respondents said they would improve their life by saving, education, vocational training and health care. (TNA)