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The reason why “Mutelu” has now become a spiritual anchor just like praying and makes merit is because of “adrift feeling” and “poverty” which make people try to find something to hold on to, following the information from Hakuhodo International (Thailand) Co., Ltd., a research institute studies about the prediction of consumer spending behavior in Thailand.
There is a reveal of the “MY GEN MY MU” survey that has been launched to explore the “Mutelu” behavior of Thai people of all ages. According to responses from more than 1,200 participants since Generation X, Y, and Z, 88% of Thais believe in Mutelu, and 52% of Thais define Mutelu as a ‘spiritual anchor’, with the most focused on money and fortune.
This information is consistent with the data from the Department of Business Development by Mrs. Oramon Sapthaweetham, Director-General of the Department of Business Development, said that Belief and faith business, or Mutelu, has grown significantly over the past five years and has been popular to date.
The key strategy of the Mutelu business is to combine Mutelu with marketing called Muketing to attract more consumers’ interest in the industry, perhaps through influencers, experts related to belief sciences, or celebrities to create credibility and create a shared experience with consumers.
For example, costumes, bags, and home decorative items that use the principle of auspicious colors according to the birthday of the month of birth as a selling point, Jewelry such as bracelets, where sacred things such as Ganesha, Thao Vessavana, and various auspicious stones are used in designing designs in fashion, or even wallpaper on a mobile phone with a picture of something sacred or a card. Moreover, some cosmetics use consecrated gold or herbs that are believed to enhance the auspiciousness and the auspicious phone number.
Property businesses such as condominiums or villages have also introduced faith science to increase the value of products and increase consumer purchasing opportunities, such as customized design according to Feng Shui, adjusting the house color of the house to suit purchasers horoscope, etc.
The last update on March 31, 2024, the Faith-Based Business has 134 active corporations with a registered capital of 135.89 million baht. All of them are small businesses (S), comprising 108 limited companies, and 26 limited partnerships/Registered Ordinary Partnerships, accounting for 80.60%, and 19.40% of active legal entities, respectively.
While the total registered capital is divided into 116.64 million baht from limited companies, and 19.25 million baht limited from partnership/Registered Ordinary Partnership, accounting for 85.83% and 14.17% of the active companies respectively. All of them are Thai national investments.
However, the majority of them are in Bangkok 46.27% and the remaining 26.12% are in the central region, 9.70% are in the east, 5.22% in the northeast, 5.22% are in the north, 4.48% are in the south and 2.99% are in the west.
Moreover, “Faith-Based” tourism is gaining huge popularity among both Thais and foreigners. The Director-General of the Department of Business Development said that many provinces use faith as a highlight to attract local income. It is a “faith-based” tourism with Thai and foreign tourists, especially Asians, who like to travel to pay homage to sacred things in Thailand.
With similar cultural foundations and beliefs, faith-based tourism is an important income for Thailand. It can distribute income to other businesses, such as hotels, restaurants, and community stores, which will help boost the Thai economy.
Therefore, the Mutelu business has become a long-standing business in Thai society and has helped boost the Thai economy with many millions of baht per year. It has become a business that responds well to the lifestyles of all generations of people.
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