I'm in Chiang Mai each year for Loi Krathong and you're in for a treat. Loi Krathong/Yi Peng is early this year, being based on the lunar calendar.
It's particularly enjoyable to watch the Kom Loi (hot air lanterns) being launched at Wat Phra Sing and the Kom Loi competition in front of the Municipal Office.
The parade/competition, which I think is on the evening of 2 November this year but cannot be sure until I arrive in CM, is great fun. Jaded western youth would not participate with the enthusiasm shown by the Thais and everyone has a great time. As a photographer I find it best to be at the southern end of Moon Muang Road, assuming the same starting point as the last couple of years.
Have fun.
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