Thai's Spending Increases

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 ◆ Thai's Spending Increases

Bangkok residents will spend about 11 billion baht (US$254 million) on travel and shopping in the New Year holiday, according to a survey. Residents of the Thai capital will spend about 3.5 billion baht on domestic travel during the holidays, said the survey by Thai Farmers Research Center, a unit of the nation's third-largest bank. They will spend another 2 billion baht on overseas trips to China, Singapore, Australia and other countries. The survey said the spending will increase from the same period last year, without giving comparable figures. Economic growth and stable jobs have boosted the spending power of Thais. The government expects the economy to expand as much as 5 percent this year.