About 24 billion baht to be circulated during Songkran

BANGKOK, April 5 (TNA) – The Kasikorn Research Center estimated that the Thai New Year celebration or Songkran festival will see about 24 billion baht spending by Bangkok revellers. Kasikorn Research Center Co, Ltd projected that Bangkok residents are likely to spend about 24.14 billion baht during the Songkran holiday, up five per cent year-on-year. More spending results from extended holidays and more relaxed atmosphere, compared to last year. About 9.2 billion baht is likely to be spent on parties and dining and about 6.3 billion baht on travel and accommodation, 4.5 billion baht on shopping, 2.04 billion baht on merit making and 2.1 billion baht on other activities. Spending on all activities is projected to increase this year, the KRC said. Meanwhile, according to its survey, 53 per cent of Bangkokians opt to stay in Bangkok instead of travelling upcountry. Business operators such as food delivery, restaurants at shopping malls, online shops, could benefit from this changing habit. (TNA)