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31 Jan 2024

Thai Economy

Chinese New Year 2024: Spending by Bangkok residents projected to increase about 1.5 percent YoY (Current Issue No.3451)


        It is expected that more Thais will participate in numerous activities with spending on products and services that are more environmentally friendly during the upcoming Chinese New Year.
        A behavioral survey conducted by KResearch on spending by consumers residing in the Bangkok Metropolitan Region, using a sampling group of 310 respondents on January 6-17, 2024, shows that  more than 55 percent of the respondents intended to participate in numerous activities during the Chinese New Year. Major activities include purchases of votive offerings (25 percent), distribution of “Ang Pao” envelops (25 percent), and merit making/taking trips/dining out (21 percent).
        KResearch expects that the amount of spending by Bangkok residents during the Chinese New Year will grow roughly 1.5 percent YoY, supported by the fact that more Bangkok city dwellers are planning to celebrate this festival and tax reductions under the Easy E-Receipt program.  

Thai Economy