The festive season may not be that merry due to low spending

13 Sept 23:41 Key points summarised by AI

Thai households anticipate reduced spending for the 2020 festive season, with Bangkokians' New Year spending projected to contract by 3.2% due to economic uncertainty and a desire to save.
This decline reflects the first drop in a decade for both household income (down 2.1%) and expenditure (down 0.9%) in Thailand during the first half of 2019.
Contributing factors include lower income for workers and farmers, increased household debt reaching historical highs, and a significant decrease in savings, leaving many families with a limited financial cushion.
Consumers are cutting back on luxury items and gifts, with the 'No Gift Policy' further impacting corporate spending, particularly in the gift basket segment.

New home loan scheme aims to boost property sector with Bt125 billion

Today 11:38 Key points summarised by AI

The Cabinet approved a new Bt50-billion 'A House for Each PLUS' home loan scheme from the Government Housing Bank, offering up to Bt3 million with 40-year repayment terms for low- and middle-income earners.
This initiative aims to significantly boost the property sector and national economy, projecting to generate Bt125 billion in economic activity and create jobs.