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Chinese-Indonesians spend Rp 10 million on average for Lunar New Year: Survey
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Happy day: Chinese New Year, which is also known as the Spring Festival, is celebrated on a different date each year as it is based on the traditional lunisolar Chinese calendar. (Shutterstock/File)
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hinese-Indonesians are allocating Rp 10.7 million (US$800) on average this year for the celebration of Lunar New Year, which falls on Saturday, a survey released on Friday by private lender United Overseas Bank (UOB) Indonesia showed.
Of the figure, more than a third was slated for traveling while 20 percent was for angpao (envelopes containing cash) for relatives and elders, the survey, which involved 500 respondents aged between 18 and 55, suggested.
The biggest chunk of angpao money, meanwhile, was set to go to parents and parents-in-law, with an average of Rp 752,256 and Rp 646,470 per angpao, respectively.
(Read also: Digging the meaning of Chinese New Year cuisine)
"The increase in Indonesian middle- and high-income groups has had a positive impact on the country with higher household spending,” said UOB Indonesia’s head of personal financial services, Lynn Ramli.
“Some 77 percent of the respondents were confident Indonesia would continue to have a strong economy this year.”
For respondents intending to travel to celebrate Chinese New Year, Southeast Asian countries are the favored destination, followed by Japan, with 41 percent and 21 percent of respondents planning a trip to the destinations, respectively. (hwa)
