— This is the script of CNBC's news report for China's CCTV on April 16, Monday.
From the video, we can see that the water-fight between the local and tourists is intense, both parties not to be outdone. And we have to know that Songkran is also a "Money-making" festival that is one of the most important festivals in Thailand, and the local residences 'spending is incredible during this period.
The official data of consumer expenditure is not released yet, but the forecast shows there will be 3 million domestic tourists and spend more than 10 billion baht equals to 2 billion Yuan.
Compared to the data from the same period last year, the number of China tourists will increase 12% and local residences spending rose by 15%, which is positive to the development of Thailand's economy.
In the last 2 quarters of last year, Thailand's GDP reached 4.3% and 4% representatively, hitting the highs since 2013. Meanwhile, international tourists' expenditure accounts for a great part in the revenue of Songkran.
Forecast shows, 530,000 tourists from aboard are expected to travel within Thailand in Songkran this year. In terms of flight booking, a great part of the tourists are from China which was expected to increase by 38% to 165000. In addition, the number of tourists from France, South Korea, Japan, Russia, Australia, India, and even Middle East countries are very impressive. Bookings from the US, however, have dropped 9%.
The data forecasts foreign tourists to spend, on average, shelling out 5,500 baht per person per day. Generating at least 20 billion baht income that equals to 4 billion Yuan during Songkran festival includes the local residences' spending we mentioned just now. But this is just the expected revenue for the past 3 days. Songkran festival usually lasts for 1 week at least. For example, during the week from APR 11TH to 17th last year, the tourists from domestic and aboard spent 45.4billion baht that equals to 9.15 billion Yuan. The Songkran is not only popular but also contributes a lot to revenue.