Connect with us

News

We’re in for a bumper Songkran this year

Published

 on 

Economists are predicting a bumper Songkran festival this year due to a number of factors.

he University of the Thai Chamber of Commerce’s Centre for Economic and Business Forecasting says surveys indicate that Thai new year revellers are showing greater willingness to spend more this year.

They estimate there will be 3-5% growth in spending which they predict will bring in 100 billion baht during this year’s holidays from April 12 to 16.

Their predictions are based on a number of factors for the 2018 celebrations. Firstly, following last year’s subdued celebrations due to the passing of the much-loved King Bhumibol, Thais have indicated they are willing to put the ‘song’ back into Songkran.

The festival has also become increasingly popular with overseas tourists so that the country’s party zones are very heavily booked months ahead of the festivities, particularly Phuket, Pattaya and Chiang Mai with Bangkok also showing heavy bookings in the lead up period.

Finally, Thais are showing greater willingness to travel far and wide, return home or extend holidays either side of the official public holidays with the growth of budget airlines and the improvement of roads generally around the country

The Centre reports that the CPI (consumer confidence index) shows a slight improvement from 79.3 points in February to 79.9 in March, a continuing trend of spending and confidence in the local economy. The Centre cites continuing growth in national exports and tourism for the improvements in the CPI.

Factors to watch, they say, include preparations for next year’s general elections, the effect of the minimum wage rise once it kicks in and the burgeoning tit-for-tat trade wars between China and the US which will inevitably drag Europe and the wider Asian economies into the imbroglio as the rhetoric ramps up between the two economic superpowers.

 

Get more from The Thaiger

Join the conversation and have your say on Thailand news published on The Thaiger.

Thaiger Talk is our new Thaiger Community where you can join the discussion on everything happening in Thailand right now.

Please note that articles are not posted to the forum instantly and can take up to 20 min before being visible. Click for more information and the Thaiger Talk Guidelines.

1 Comment

1 Comment

  1. TS

    Thursday, January 28, 2021 at 10:22 am

    yeah, all those overseas tourists have booked months ahead

You must be logged in to post a comment Login

Leave a Reply

The Thaiger is Thailand's largest online portal for news, videos and information.

Follow Thaiger by email:

Crime6 hours ago

Everything stolen from Danish man’s 3 homes on Koh Samui

Vietnam8 hours ago

Thai Vietjet resumes Bangkok-Da Lat flights after 3-year break

Chon Buri8 hours ago

A mother and baby escape blaze in Chon Buri with severe burns

Politics8 hours ago

Whole new world of censorship pain on its way to Thailand

Technology9 hours ago

Apple plans to move production out of China and into Thailand

Hot News9 hours ago

Sex outside of marriage to carry one year jail sentence in Indonesia

Join the conversation on the Thaiger Talk forums today!
Phang Nga10 hours ago

Four orcas spotted playing near the Similan Islands

Economy11 hours ago

Arrogant Thai construction company rips off Myanmar migrant workers

Bangkok12 hours ago

Safety systems at Central World found fully functional after fire

Malaysia12 hours ago

Big Joke ready to extradite Malaysian super-crook ‘Teddy’

Hot News12 hours ago

Thai govt’s chemical castration policy takes effect next month

Transport14 hours ago

RTP urges Thai drivers not to ignore e-tickets, they’re real, not fake

Transport14 hours ago

A few good apples – Taxi drivers are not all bad

Hot News15 hours ago

Pro-monarchy ‘dictator’ must be stopped from retiring in Australia, say Thai asylum activists

Events15 hours ago

Father’s Day celebrated throughout Thailand today

Thailand1 year ago

Morning Top Stories Thailand | Police to end protests, Human Trafficking | September 14

Thailand2 years ago

Thailand News Today | Thai Airways in rehab, All go for Songkran | March 4

Tourism2 years ago

Phuket’s nightlife. Yes, bars and clubs are still open | VIDEO

Phuket2 years ago

Thailand News Today | Covid passport talks, Thai Airways heads to court | March 2

Tourism2 years ago

Phuket Thai food treats you need to try | VIDEO

Thailand2 years ago

Thailand News Today | Bars, pubs and restaurants ‘sort of’ back to normal | Feb 23

Tourism2 years ago

In search of Cat & Dog Cafés in Phuket Town | VIDEO

Thailand2 years ago

Thailand News Today | Gambling crackdown, Seafood market to reopen, Vlogger challenge | Jan 21

Thailand2 years ago

Thailand News Today | Covid testing for visas, Business impact, Vaccine approval | January 19

Thailand2 years ago

Thailand News Today | Weekend Bangkok bombs, Thailand fires, Covid update | January 18

Thailand2 years ago

Thailand News Today | Stray car on runway, Indonesian quake, 300 baht tourist fee | January 15

Thailand2 years ago

Thailand News Today | Governor off respirator, sex-trafficking arrest, condo prices falling | January 14

Thailand2 years ago

Thailand News Today | Chinese vaccine, Thailand ‘drug hub’, Covid update | January 13

Thailand2 years ago

Thailand News Today | Bangkok may ease restrictions, Phuket bar curfew, Vaccine roll out | January 12

Thailand2 years ago

Thailand News Today | Covid latest, Cockfights closed down, Bryde’s Whale beached | January 11

Trending