Bangkok: Songkran 2026 is expected to generate 129 billion baht in spending, marking a 3.7% decrease due to high fuel prices impacting purchasing power.
According to Thai News Agency, the University of the Thai Chamber of Commerce (UTCC) released the results of a survey on consumer spending behavior during the 2026 Songkran festival. It forecasts a spending spree of 129 billion baht, a 3.7% decrease compared to the same period last year. This reflects pressure from rising oil prices, which affect travel costs and the cost of living, and are beginning to impact consumer purchasing power.
Associate Professor Dr. Thanawat Pholvichai, President and Chairman of the Advisory Board of the Center for Economic and Business Forecasting, University of the Thai Chamber of Commerce, announced the results of a survey on consumer spending behavior during the Songkran festival in 2026. The survey, conducted among a sample of 1,280 respondents nationwide between March 28-30, 2026, found that rising fuel prices directly impacted consumer behavior, causing a slowdown in spending during important festivals like Songkran.
The survey found that consumers are becoming more cautious with their spending, with 38.7% reducing domestic travel and 32.5% decreasing overall spending. Meanwhile, 19.5% indicated their spending plans were unaffected. At the same time, the public expresses high levels of concern, with 85.4% worried about rising fuel and travel prices, followed by concerns about an economic slowdown and rising prices of consumer goods.
In terms of spending confidence, most consumers are starting to "tighten their belts," with 26.8% indicating they are being more cautious with their spending and 21.5% saying they are being significantly more cautious.
Furthermore, if oil prices continue to rise, people are likely to adjust their behavior further. 37.4% will reduce consumption of luxury goods and switch to essential items, while some will reduce personal travel, use public transportation more, or cancel travel plans.
From the business perspective, the survey reflects that businesses are beginning to feel the impact of weakening purchasing power, with 32.6% planning to postpone new investments, while 27.3% are likely to raise prices of goods and services, as well as reduce costs and production volume to maintain liquidity.
The business operators proposed that the government prioritize energy measures, particularly controlling oil prices and managing fuel supply, along with reducing the cost of living, controlling commodity prices, and supporting liquidity through low-interest loans. They also suggested that the government clearly communicate its policies to reduce panic, alleviate business cost burdens, and promote the capabilities of entrepreneurs, especially SMEs, to enhance their competitiveness.
The survey reflects that, while Songkran remains a key driver of spending in the Thai economy, pressure from rising energy costs and the cost of living is causing both consumers and businesses to adapt, and may signal a slowdown in economic activity in the coming period.