January 23, 2009
Bangkok (ASTV Manager Online) – People tend to spend less during Chinese New Year because of economic downturn and uncertain situation, according to a poll.
University of the Thai Chamber of Commerce surveyed 1,216 respondents who worshipped Chinese gods nationwide.
The survey was conducted on January 13-17.
It was found that people would be more careful about their spending during the Chinese festival due to economic slump and decreasing income.
People were uncertain about the situation and expected product prices would go up. As a result, Chinese New Year might not be as busy as it should.
Most people were also worried about fire and road accidents apart from the expensive product prices.
Nonetheless, people thought the economic condition would recover in the third quarter of this year after the government’s stimulus measures.
The government was urged to deal with product price problem, boost consumers and investors’ confidence.
