Chinese New Year Spending Expected to Reach 54.4 Billion Baht, Breaking 6-Year Record Boosted by Election Aftermath

Thanawat Polwichai, rector of Thai University of Commerce and economic forecasting advisor, revealed that Chinese New Year spending is expected to reach 54,221.53 million baht, a 5% increase from the previous year. The growth is largely driven by post-election economic stimulation. The survey showed that 43.4% of people will make traditional offerings, with 42.5% purchasing offerings from local markets. Spending sources include 58.9% from salaries, 28.7% from savings, and 6.2% from bonuses. Most respondents (46%) reported slightly higher prices for offerings compared to last year, with 24.3% noting significant price increases.