MOST BANGKOK residents believe that the Thai economy is still weak and many lament having to dig into their savings to manage their expenses, according to a survey conducted last month by Nation University's Research Institute.The survey was conducted from August 22-29 on 1,118 residents of the capital aged between 15 and 60 years.
Regarding their personal financial status, 35.06 per cent of the respondents believed their personal savings level had dropped as they had to use some of their savings because their expenses exceeded their incomes. They cited rising costs of living, credit-card payments and mortgage and automobile-loan instalments. About 58 per cent of the respondents felt that the Thai economy was relatively weak, but 8.77 per cent believed the situation would improve by year-end and 17.53 per cent by February. A total of 31.48 per cent of respondents believed that their incomes in August had dropped since last December, while 48.03 per cent cited higher expenses during the period. These expenses resulted in 35.60 per cent of them having less personal savings than last year. The survey found that 30.47 per cent of the respondents spent most of their income on daily commuting and essential daily expenses, followed by credit-card payments, personal (home and auto) loan payments (20.61 per cent) and household expenses. Despite the rising expenses, only 4.30 per cent plan to spend less, and if they do cut back they will do so mostly in terms of shopping and vacation trips. About 54 per cent of the survey respondents plan to spend more in the area of housing, followed by vacation trips, automobiles and mobile/IT communication devices.
MOST BANGKOK residents believe that the Thai economy is still weak and many lament having to dig into their savings to manage their expenses, according to a survey conducted last month by Nation University's Research Institute.The survey was conducted from August 22-29 on 1,118 residents of the capital aged between 15 and 60 years. Regarding their personal financial status, 35.06 per cent of the respondents believed their personal savings level had dropped as they had to use some of their savings because their expenses exceeded their incomes. They cited rising costs of living, credit-card payments and mortgage and automobile-loan instalments. About 58 per cent of the respondents felt that the Thai economy was relatively weak, but 8.77 per cent believed the situation would improve by year-end and 17.53 per cent by February. A total of 31.48 per cent of respondents believed that their incomes in August had dropped since last December, while 48.03 per cent cited higher expenses during the period. These expenses resulted in 35.60 per cent of them having less personal savings than last year. The survey found that 30.47 per cent of the respondents spent most of their income on daily commuting and essential daily expenses, followed by credit-card payments, personal (home and auto) loan payments (20.61 per cent) and household expenses. Despite the rising expenses, only 4.30 per cent plan to spend less, and if they do cut back they will do so mostly in terms of shopping and vacation trips. About 54 per cent of the survey respondents plan to spend more in the area of housing, followed by vacation trips, automobiles and mobile/IT communication devices.
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