BANGKOK, 11 April 2018: A longer Songkran holiday extending to five days will improve holiday spend by Bangkok residents during the festival week 12 to 16 April, according to a poll conducted Kasikorn Bank Research.
The KResearch poll indicated 53% of Bangkok residents intend to participate in Songkran holiday activities.
But for the first time the poll suggested that more residents will stay in the capital rather than travel to their home towns or tourist destinations.
More Bangkok residents are also planning to stay in the capital, which the bank interpreted as a business opportunity. It said Bangkok-based shops, restaurants and attractions could benefit financially.
However, countering that argument, many business outlets close for the holiday because junior staff take leave, making it difficult especially for restaurants and entertainment outlets (bars and discos) to provide adequate service.
The bank’s survey suggested Bangkok residents would organise more activities at home such as parties with friends, or they would embark on short day trips to nearby provinces. Phra Nakhon Si Ayutthaya was identified as the most popular destination during the Songkran holiday, just 70 km from the Thai capital.
Businesses that are likely benefit from the Songkran Festival this year are food delivery services, shopping malls, restaurants in shopping malls, online stores and delivery service supporting the online retail business.
KResearch expect that Bangkok residents will spend approximately THB 24.14 billion, up 5%, when compared with the Songkran Festival last year. Estimated revenue breaks down as follows: THB 9.2 billion on food and beverage (F&B); THB 6.3 billion on accommodation/travelling; THB 4.5 billion on shopping; THB 2.04 billion on merit making and THB2.1 billion on other activities such as gifts to family members, entrance fees to various tourist attractions/movie and concert tickets.