Highest Songkran spending in 13 years expected

This year’s long 5-6 day Songkran festival will see revellers spending the highest in 13 years of up to 132 billion baht, according to the Center for Economic and Business Forecasting of the University of the Thai Chamber of Commerce.

Centre director Dr Thanawat Pholwichai said he estimated that public spending during the 5 -6 days of Songkran holidays will hit the highest peak in 13 years.

The highest spending would also be boosted by the “Thais visit Thailand” campaign promoting traditional Thai dress which is the fallout from the popularity of a smash hit Thai soap opera, Buppae Sanniwas’ (Love Destiny).

He said the campaign on its own is expected to contribute to between 4 to 15 billion baht in revenues.

He said this year’s Songkran celebrations will generate more than 132 billion baht in cash-flows, representing a 3.5% increase over last year.

But he said what was more importantly is a 13 year peak since 2006.

He went on saying that domestic tourism alone will contribute to almost 4 billion baht while foreign tourism will generate as much as 76.84 billion baht an 11% increase; mainly from Japanese, Korean and Chinese visitors.

At the same time, Kasikorn Bank Research Center estimates that the Thais Visit Thailand domestic tourism promotion campaign will generate around 15.5 billion baht which is a spectacular 15.8% increase over last year.

For this year they expect historic and cultural destinations to be popular.

The research said this fact means that tourism during the first half of the year will be outstandingly exuberant and vibrant.