December 11, 2018 - The Kasikorn Research Center predicts that spending by Bangkok residents during the New Year festival of 2019 will reach 30.8 billion baht, representing a 4.1% increase compared to the previous year. This includes 9.4 billion baht for food and beverages, followed by domestic travel, which will account for 8.8 billion baht for travel home and tourism, as well as accommodation costs, and 8.4 billion baht for gifts and souvenirs.

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Additionally, there will be 2.1 billion baht allocated for giving money to parents and siblings as New Year gifts, 1.6 billion baht for merit-making and temple visits, and other expenses such as watching movies, listening to music, and donating items totaling 500 million baht, resulting in an average spending budget of 5,600 baht per person.


However, even though this year the "Shop for the Nation" initiative will not allow tax deductions on all consumer goods (only for books and OTOP products), it is believed that retailers will still ramp up sales promotion activities across all product categories throughout the festival.

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