Robert Besser
25 Jan 2023, 04:35 GMT+10
BANGKOK, Thailand: Consumer spending in Thailand over the ongoing Lunar New Year period could increase 13.6 percent to $1.36 billion, which would represent a three-year high, according to the Thai Chamber of Commerce.
The estimated spending compares with $1.2 billion last year, Thanavath Phonvichai, president of the university, told a briefing.
"This Lunar New Year will be the most active in three years," he said, as quoted by Reuters, adding that the projected 13.6 percent spending growth this year would be the highest in 15 years.
"People are ready to spend, though some with lower incomes are cautious," he added, citing a consumer spending survey conducted by the university.
Lunar New Year celebrations normally signal a jump in spending by many Thais and visitors from China and other parts of Asia.
China's reopening raises hopes for the return of Chinese visitors, who accounted for nearly one-third of Thailand's 40 million foreign tourist arrivals in pre-pandemic 2019.
The government expects at least five million Chinese tourists this year, with some 300,000 during the first quarter.
Get a daily dose of Dublin News news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Dublin News.
More InformationWASHINGTON D.C.: A U.S. auto safety regulator said this week it is opening an investigation into 73,000 Chevrolet Volt plug-in ...
NEW YORK: This week, a New York judge approved legal settlements to end lawsuits that halted the state's legal cannabis ...
NEW YORK, New York - U.S. stocks spent most of Tuesday meandering, with the major indices closing out the day ...
DEARBORN, Michigan: This week, Ford said a six-week United Auto Workers (UAW) strike cut its sales by some 100,000 vehicles ...
WASHINGTON D.C.: This week, the Biden administration adopted a new rule aimed at reducing methane emissions, which targets the role ...
AUSTIN, Texas: During an event held this week in Austin, Texas, Tesla CEO Elon Musk said the electric vehicle (EV) ...
The U.S. has supplied Israel with scores of BLU-109 bunker-buster bombs since October 7, the Wall Street Journal has reported, ...
HELSINKI, Finland: After Finland joined the North Atlantic Treaty Organization (NATO) earlier this year, hundreds of migrants from the Middle ...
CHISINAU, Moldova: Over the weekend, heavy snowfall and strong blizzards in Romania, Moldova and Bulgaria left one person dead and ...
DHAKA, Bangladesh - The European Union (EU) expressed hope on Wednesday that Bangladesh would hold democratic, credible, peaceful, and participatory ...
DUBLIN, Ireland - The government has admitted that it may not be able to accommodate all asylum seekers who arrive ...
Did you know that you can find cats at almost every fire station in Russia? So, what exactly do they ...