Display mode (Doesn't show in master page preview)

27 Dec 2022

Econ Digest

Bangkok residents’ spending for New Year 2023 celebrations projected to reach THB30.9 billion


        KResearch assesses that the overall spending by Bangkok residents during the upcoming New Year 2023 may reach approximately THB30.9 billion, an increase of 10.5%YoY. Most surveyed Bangkok residents have party plans during the New Year festival. To be specific, up to 56% of surveyed Bangkok residents choose to party at restaurants, an increase from the previous year, as they have plans to travel/do outdoor activities and set aside funds for special parties. Meanwhile, 43% choose to cook at home because of the convenience and the option to buy food materials according to their budget. Moreover, the survey results also showed that the spending for recreational activities such as concerts, festivals, and international travel expenses will increase. However, the majority of the respondents only allocate budgets for New Year 2023 celebrations during the four-day period from December 30, 2022 to January 2, 2023 period, and plan their spending carefully after the holidays, as they are still concerned that high expenses and product prices would affect the purchasing power of consumers.

        The “Shop Dee Mee Kuen” stimulus program covering the New Year period during January 1 to February 15, 2023 may help stimulate spending on goods, especially for respondents with a monthly income over THB30,000, whose average spending budget increases by at least 20% compared to the normal period without the stimulus program. Products that will still be bought by respondents are consumer products and clothes, while these respondents tend to buy more dietary supplements and health products.

        KResearch views that with consumer purchasing power not yet fully recovered, Bangkok residents’ spending may grow well for a limited period while businesses are facing rising costs amid increased competition. Therefore, in addition to promotions during the holiday season, business operators also face the challenge of managing costs and responding to consumer needs in terms of product quality and service experience to help drive sales, particularly for consumers who still have sufficient purchasing power.

Scan QR Code

QR Code


This research paper is published for general public. It is made up of various sources. Trustworthy, but the company can not authenticate. reliability The information may be changed at any time without prior notice. Data users need to be careful about the use of information. The Company will not be liable to any user or person for any damages arising from such use. The information in this report does not constitute an offer. Or advice on business decisions Anyhow.