Thais expected to spend 187 mln USD during Chinese New Year

BANGKOK, Feb. 5 (Xinhua) -- People of Chinese descent in Thailand are expected to buy offerings to the spirits during the upcoming Chinese New Year at a total value of about 187 million U. S. dollars or a 6 percent increase from the previous year, according to a survey by Kasikorn Research Centre, Thai News Agency reported on Tuesday.

The centre revealed one of the factors contributing to higher overall spending is the increasing prices of commodities, especially pork, which has surged rapidly.

Retail business will cash in on the Chinese New Year rituals as the new generation of Chinese descent prefer to buy offerings at modern trade stores which are more convenient and offer reasonable prices, the research centre said.

Chinese people worldwide join the centuries-old tradition of making offerings to all souls on the eve of Chinese New Year which, according to the lunar calendar, falls on this Saturday.

In Bangkok, the lively Chinese New Year celebration event will be held at Chinatown on Yaowarat Road in Bangkok this Sunday. Chinese New Year activities will take place in Bangkok Chinatown throughout next week.

We Recommend:
How will John Kerry deal with China?	China urges respect for its territorial sovereignty	Japanese PM reiterates to mend ties with China
US looking for excuses for 'cyber army' expansion	Sino-Japan ties not easy to improve	Driving forces behind 'Chinese dream'