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Spending during the Songkran festival is forecast to reach 100 billion baht, a 7% rise from the previous year, marking the highest level in the past six years, according to a survey of the University of the Thai Chamber of Commerce.
The figure is based on a survey of 1,184 respondents conducted from March 27 to April 1.
Most spending during the festival, running from April 13 to 17, will be for celebration, consumption, making merit, and travel, said Thanavath Phonvichai, an economist at the university.
The minimum wage hike to 300 baht per day has made workers more confident and more likely to travel during the long holiday.
The survey found a number of people plan to take overseas trips for the festival, citing a 14% increase year-on-year. Hong Kong, Japan, China, and Malaysia are favourite destinations.
The university also conducted a survey on businessmen in the South concerning the recent blasts in Hat Yai and Yala provinces. Mr Thanavath predicted tourism income would fall significantly as 43% of bookings were cancelled.
The study estimates losses from the violence could reach 5 billion baht if it takes three months for tourism to recover.
The figure is based on a survey of 1,184 respondents conducted from March 27 to April 1.
Most spending during the festival, running from April 13 to 17, will be for celebration, consumption, making merit, and travel, said Thanavath Phonvichai, an economist at the university.
The minimum wage hike to 300 baht per day has made workers more confident and more likely to travel during the long holiday.
The survey found a number of people plan to take overseas trips for the festival, citing a 14% increase year-on-year. Hong Kong, Japan, China, and Malaysia are favourite destinations.
The university also conducted a survey on businessmen in the South concerning the recent blasts in Hat Yai and Yala provinces. Mr Thanavath predicted tourism income would fall significantly as 43% of bookings were cancelled.
The study estimates losses from the violence could reach 5 billion baht if it takes three months for tourism to recover.
