Festive spending at 12-year low

Spending during the festive season is expected to remain below 100 billion baht for a second straight year, hitting a 12-year low as growing concerns over the Covid-19 Omicron variant continue to undermine public sentiment.

The University of the Thai Chamber of Commerce (UTCC) revealed its estimate for spending during the holiday period of 85.7 billion baht, a 6% drop from 91.5 billion last year, which was itself a 33.6% dip from 138 billion in 2019.

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Phusadee Arunmas