Chinese New Year spending in Thailand is not surging as expected

BANGKOK, Jan 27 (TNA) -- Chinese New Year spending in Thailand is not surging as expected as Thais of Chinese descents are preparing to celebrate the festival. Surveys show Thais of Chinese descent in Bangkok will spend over 6.4 billion baht in Bangkok alone in celebrations of their traditional festival and holiday. Celebrations at Bangkok’s China Town, however, will be toned down and no entertainments as Thailand is still mourning the passing of King Bhumibol Adulyadej. Many economists earlier forecast that there will be an increase of 3 percent in spending for offerings by Thai-Chinese, compared to last year. Gold jewelry and ornaments remain popular item for New Year celebration. Gold Traders Association President Chitti Tangsitthipakdi said he expected a five percent increase in sales of gold jewelry. Saturday would see the highest sale volume at gold shops in the China Town or Yaowarat, he said. The China Town is also the main marketplace for Chinese New Year celebration from food to clothes. Shops offer new line of clothes in dark colors instead of the traditional red due to the mourning of King Bhumibol’s passing. (TNA)