Bangkokians expected to spend THB3.1 billion during veg festival: research

Kasikorn Research Centre predicted that spending by Bangkokians on vegetarian food during the annual festival would rise by 3.5%, mainly because of the rising prices of vegetables and plant-based proteins.

Chinese descendants with strict belief in the customs and traditions inherited from their ancestors will eat vegetarian food for nine days from October 15 to 23.

The centre said it expected the prices of vegetarian foods to rise by 2.5% over last year and the number of people who would join the tradition would rise by 1%. This could contribute to a 3.5% growth in spending on vegetarian foods by Bangkokians, the centre explained.

The annual vegetarian festival in Thailand, also known as the Nine Emperor Gods Festival, is a Taoist celebration that takes place during the ninth lunar month of the Chinese calendar, usually in September or October. The festival is observed by many Thai people, especially those of Chinese descent, and is a major tourist attraction.

The centre said the prices of vegetables would rise mainly because many parts of the country had been hit by recent flooding while the prices of plant-based protein would increase because of high demand.

The centre said the number of people joining the festival would not increase much because many still lack confidence in economic growth and would prefer to be as economical as possible instead of spending extra money on vegetarian foods.