Thailand announces extra holiday to boost Songkran economy
Thailand’s financial sector is set to benefit from an additional public holiday, as declared by the Royal Thai Government Gazette. The special holiday is part of a government initiative to facilitate travel flexibility and stimulate the tourism, service sectors, and the overall economy during the Songkran festival.
This move aligns with the Cabinet’s decision from February 13, and marks a strategic effort to distribute travel and boost economic activities nationwide.
The Royal Thai Government Gazette’s latest announcement indicates that the Bank of Thailand, under the signature of Governor Sethaput Suthiwartnarueput, has agreed to an extra holiday for financial institutions. This special holiday is designed to support the government’s policy to promote domestic travel and economic growth during the traditional Thai New Year, reported KhaoSod.
With the approval of the Cabinet, Friday, April 12, 2024, will be an additional non-working day for financial institutions. This measure is expected to create a four-day weekend, providing an opportunity for Thai citizens to travel and partake in all of Thailand’s Songkran festivities, which could in turn invigorate the nation’s local economy.
In related news, following UNESCO’s recognition of Songkran as an intangible cultural heritage, Thailand announced plans for the World Songkran Festival nationwide. This celebration aims to showcase local traditions and activities associated with the festival across the country’s provinces and districts. The journey towards UNESCO recognition began in 2020 when the government applied to the organisation.
Alongside this announcement, the Labour Ministry is considering raising the minimum wage for certain professions as a Songkran gift, with an expected announcement within a year.
Additionally, discussions about providing a full monthly salary for maternity leave are underway. In another development, the State Railway of Thailand introduces a game-changing 90-day advance booking service for CNR express trains on key routes, addressing the surge in travel demand expected during the upcoming Songkran festivities.
