ThomasThBKK Posted July 5, 2019 Share Posted July 5, 2019 1 hour ago, ttrd said: Yes, an increase of 20-25% against the most of the EU currencies during the last decade is both significant and incomrehensible. It has a negative effect on the most of the expats and many find it difficult to meet the financial requirements that doesn't seem to change accordingly - rather the opposite ... So all the whining about that the money goes elsewhere will only be louder if no countermeasures are made - what and when remains to see, but it's urgent ... 10 Years ago you got 34 Baht per USD, now it's 30. Baht/Usd chart the last decade is quite unspectacular, most of these people have issues as they are not investing their money and get eaten by inflation or are sitting state pensions which stopped rising as the EUR/AUD/GBP went into the shitter. Really not much for Thailand to "intervene" yet, the baht was stronger than it is right now in 2013 compared to the USD (which is the only currency that counts here...). Thailand couldn't care less about dying currencies in Europe. Link to comment Share on other sites More sharing options...
RichardColeman Posted July 5, 2019 Share Posted July 5, 2019 4 hours ago, marcusarelus said: Exports in Thailand averaged 10712.47 USD Million from 1991 until 2019, reaching an all time high of 22794.45 USD Million in August of 2018. You do know that Thailand is the 10th largest exporter of cars in the world? https://tradingeconomics.com/thailand/exports and if you click on forecast on the same link you'll see exports diving ! Link to comment Share on other sites More sharing options...
ThomasThBKK Posted July 5, 2019 Share Posted July 5, 2019 3 minutes ago, RichardColeman said: and if you click on forecast on the same link you'll see exports diving ! Also they are the 15th biggest: http://www.worldstopexports.com/car-exports-country/ and well, the main difference is, the cars germany exports and also slovakia, mexico, the usa (german manufacturer have plants there), well while that money goes into the local economy partially - most of it goes back to german car manufacturers. Same for Japanese and co. All cars assembled here are Japanese manufacturer, guess who makes the real money on these? Well, it's not Thailand. It's Honda and co... Link to comment Share on other sites More sharing options...
ttrd Posted July 5, 2019 Share Posted July 5, 2019 16 minutes ago, ThomasThBKK said: 10 Years ago you got 34 Baht per USD, now it's 30. Baht/Usd chart the last decade is quite unspectacular, most of these people have issues as they are not investing their money and get eaten by inflation or are sitting state pensions which stopped rising as the EUR/AUD/GBP went into the shitter. Really not much for Thailand to "intervene" yet, the baht was stronger than it is right now in 2013 compared to the USD (which is the only currency that counts here...). Thailand couldn't care less about dying currencies in Europe. RE - Really not much for Thailand to "intervene" yet, It is actually something the government could do to compensate for the strong baht when it comes to the long term visa requirements - "if" they really want to keep the expats - only if … If not - then no need for whining about less spending - actually not more complicated than that .. Link to comment Share on other sites More sharing options...
ericthai Posted July 5, 2019 Share Posted July 5, 2019 8 hours ago, randy723 said: I do not know if it will happen again but in 1997 when the baht was at 25 against the US dollar and should have been higher and they had all this talk about how strong the baht was then over night the baht went from 25 to 56 and the went up to 58 before it started come back down and even in 2004 to about 2008 the baht stayed at about 45 to 48 per US dollar That was due to the Asian financial crisis. Link to comment Share on other sites More sharing options...
dotpoom Posted July 5, 2019 Share Posted July 5, 2019 13 hours ago, darksidedog said: They are not alone. Pretty much every farang I know here is unhappy about it also. Thais aren't the only ones looking at overseas travel, as for those with foreign income, other places are becoming more attractive to them too. I would imagine nobody is happy about dropping money every month...even the ones we don't know? Link to comment Share on other sites More sharing options...
ttrd Posted July 5, 2019 Share Posted July 5, 2019 3 hours ago, Dumbastheycome said: Hmmm. Perhaps the easiest way to count dead fish is to count them as they pass by on the down current. There is no correlation to the actual number of fish "in total" because that is an unknown such as are arrivals and departures via an airport without discriminating between transits and stayers. The only honest number are the dead fish ( real tourists) and the smell they leave behind ( $Cash! ") ???? You seem to have forgot something essential - it's many rivers where it pass dead fish, BUT you can only with Your eyes monitor 1 river at a time and just manage to count fish at the Surface unlike Suvarnabhumi that there is only 1 off where every singel person with or without pets (dead or alive) that arrive, stay or leave will be registred whatever moves they make inside the airport and of the same reason everyone is registered with their own unique number which again creates numbers in total - it's not rocket science - it's a fact … Link to comment Share on other sites More sharing options...
a977 Posted July 5, 2019 Share Posted July 5, 2019 16 hours ago, Bob12345 said: Surprising they now want subsidies because when the baht was weak and they were making a killing none of them came with a plan to share their profits by paying more taxes. Taxes, are you serious! Link to comment Share on other sites More sharing options...
Dumbastheycome Posted July 6, 2019 Share Posted July 6, 2019 4 hours ago, ttrd said: You seem to have forgot something essential - it's many rivers where it pass dead fish, BUT you can only with Your eyes monitor 1 river at a time and just manage to count fish at the Surface unlike Suvarnabhumi that there is only 1 off where every singel person with or without pets (dead or alive) that arrive, stay or leave will be registred whatever moves they make inside the airport and of the same reason everyone is registered with their own unique number which again creates numbers in total - it's not rocket science - it's a fact … lol. Ok. Calculus was ever my forte' . Link to comment Share on other sites More sharing options...
marcusarelus Posted July 6, 2019 Share Posted July 6, 2019 7 hours ago, RichardColeman said: and if you click on forecast on the same link you'll see exports diving ! You wrote, "Apart from the girls - Thailand really only has tourism - that goes, they are really up toilet creek" Which is nonsense. Actually, "Exports in Thailand averaged 10712.47 USD Million from 1991 until 2019, reaching an all time high of 22794.45 USD Million in August of 2018." Link to comment Share on other sites More sharing options...
Bugsy777 Posted July 6, 2019 Share Posted July 6, 2019 They ain't seen nothing yet. Just wait till the glut of condo's comes on the market, put up for sale by erstwhile expats who can no longer afford to live in Thailand because of a combination of ill thought out visa rules and a surging baht. It's hard to imagine a government that could so effectively shoot itself in the foot by alienating such a large proportion of previously welcome expats. For example, the Australian single age pension is more than enough to live well in Thailand. So what do the boneheaded Thai Immigration do? They decide that the monthly income for the appropriate visa must be substantially higher and effectively turn away a lucrative foreign income stream Condo developers will never be able to compete with the sinking prices of the glut second hand real estate. They'll be bending the ears of the new government in the near future. Link to comment Share on other sites More sharing options...
zaZa9 Posted July 6, 2019 Share Posted July 6, 2019 17 hours ago, marcusarelus said: Been in business here for 20 years and it's nonsense. Exactly. If that argument held any water then low season would see prices doubled , not halved. Link to comment Share on other sites More sharing options...
BestB Posted July 6, 2019 Share Posted July 6, 2019 7 minutes ago, Bugsy777 said: They ain't seen nothing yet. Just wait till the glut of condo's comes on the market, put up for sale by erstwhile expats who can no longer afford to live in Thailand because of a combination of ill thought out visa rules and a surging baht. It's hard to imagine a government that could so effectively shoot itself in the foot by alienating such a large proportion of previously welcome expats. For example, the Australian single age pension is more than enough to live well in Thailand. So what do the boneheaded Thai Immigration do? They decide that the monthly income for the appropriate visa must be substantially higher and effectively turn away a lucrative foreign income stream Condo developers will never be able to compete with the sinking prices of the glut second hand real estate. They'll be bending the ears of the new government in the near future. What ever made you think that pensioners is the main stream of income for thai economy ?what ever made you think your pension makes much difference to the big picture ? Link to comment Share on other sites More sharing options...
kcpattaya Posted July 6, 2019 Share Posted July 6, 2019 22 hours ago, Rimmer said: The Bank of Thailand.... The BOT should stop buying USD$. Link to comment Share on other sites More sharing options...
Anythingleft? Posted July 6, 2019 Share Posted July 6, 2019 I have watched some of my Thai friends bemoan the fact that they could not go to Chumporn nor Chiang Mai for a holiday, too expensive for thai, over the last 4 years... Mmmmm ? Now they can take their families to Japan, Hong Kong and UK. Somehow I don't think they saved the money to go on holiday. No none of them won any jackpot either. So.....How cryptic.......Sent from my SM-N950F using Tapatalk Link to comment Share on other sites More sharing options...
AverageBloke Posted July 6, 2019 Share Posted July 6, 2019 25 minutes ago, BestB said: What ever made you think that pensioners is the main stream of income for thai economy ?what ever made you think your pension makes much difference to the big picture ? I think he was referring to the knock-on effect if a glut of expats has to sell up cheaply and how this will impact even new condo sales throughout the country. Link to comment Share on other sites More sharing options...
mikebell Posted July 6, 2019 Share Posted July 6, 2019 20 hours ago, legend49 said: Their country, their government, their problem. My problem. In my time here, I have seen my UKP shrink from 73 to under 40 - my income cut by nearly 50%. I have offset this by cutting my free-spending on: restaurants; cars; hotels; clothes; housing; women; food/drink shopping. Now it becomes a Thai problem. Link to comment Share on other sites More sharing options...
Astrix Posted July 6, 2019 Share Posted July 6, 2019 Just a few statistics from thai travel agents association for first half year..Im sure that THB value is not main reason, but could be contributing to obvious decline in numbers.Sent from my SM-G955F using Thailand Forum - Thaivisa mobile app Link to comment Share on other sites More sharing options...
BestB Posted July 6, 2019 Share Posted July 6, 2019 44 minutes ago, Andrew Nelson said: I think he was referring to the knock-on effect if a glut of expats has to sell up cheaply and how this will impact even new condo sales throughout the country. Again you assuming expats are major donors to thai economy Link to comment Share on other sites More sharing options...
Percy P Posted July 6, 2019 Share Posted July 6, 2019 23 hours ago, legend49 said: Their country, their government, their problem. Correct .The Baht is strong against other currencies because other countries money have lost 50% of there value. You can't have a weak Pound and a strong Baht. Strong pound, weak Baht. Just except it. Link to comment Share on other sites More sharing options...
Mel52 Posted July 6, 2019 Share Posted July 6, 2019 You know I’ve read a lot of the stories about the alleged currency manipulation alleged by the United States Treasury Department but it is a good question why would they want the baht to be stronger when Thailand’s main source of income is tourism and food exports it’s potentially bad for their economy for their currency to be stronger. Because for the most part their economy revolves around income from abroad. I don’t know I might be missing something in the bigger picture especially with their current political crisis. Link to comment Share on other sites More sharing options...
Percy P Posted July 6, 2019 Share Posted July 6, 2019 On 7/5/2019 at 11:38 AM, darksidedog said: They are not alone. Pretty much every farang I know here is unhappy about it also. Thais aren't the only ones looking at overseas travel, as for those with foreign income, other places are becoming more attractive to them too. But the GBP is very low at the moment to low to travel. Today one pound 38.8Baht . It's not the Baht in its self what strong it currencies against it which are poor. Link to comment Share on other sites More sharing options...
spidermike007 Posted July 6, 2019 Share Posted July 6, 2019 21 hours ago, madmen said: Nah you're over cooking this. Tourists don't even know who the <deleted> Prayut is. Deflate the baht and watch them all come back in an instant Grossly over simplified. Sorry to break it down for you. Both life and the tourism industry are far more complicated than that. Word gets around. Traffic deaths. Scams. Framing of innocents for crimes they had nothing to do with, to protect wealthy kids who are above the law. Mediocre service. People are far more connected these days than before. Link to comment Share on other sites More sharing options...
jacko45k Posted July 6, 2019 Share Posted July 6, 2019 4 hours ago, Bugsy777 said: expats who can no longer afford to live in Thailand because of a combination of ill thought out visa rules and a surging baht. And who could maybe make a substantial profit if they could sell that condo in Sterling/Dollar or Euro terms.! Link to comment Share on other sites More sharing options...
jacko45k Posted July 6, 2019 Share Posted July 6, 2019 4 hours ago, zaZa9 said: Exactly. If that argument held any water then low season would see prices doubled , not halved. Which prices have been halved? Link to comment Share on other sites More sharing options...
marcusarelus Posted July 6, 2019 Share Posted July 6, 2019 4 hours ago, Bugsy777 said: They ain't seen nothing yet. Just wait till the glut of condo's comes on the market, put up for sale by erstwhile expats who can no longer afford to live in Thailand because of a combination of ill thought out visa rules and a surging baht. It's hard to imagine a government that could so effectively shoot itself in the foot by alienating such a large proportion of previously welcome expats. For example, the Australian single age pension is more than enough to live well in Thailand. So what do the boneheaded Thai Immigration do? They decide that the monthly income for the appropriate visa must be substantially higher and effectively turn away a lucrative foreign income stream Condo developers will never be able to compete with the sinking prices of the glut second hand real estate. They'll be bending the ears of the new government in the near future. If Thais bought used condos and if there were a lot of expats leaving and if they wanted to sell thier condos. No glut just the 37 time a glut has been predicted on Thai Visa in the last 10 years. Link to comment Share on other sites More sharing options...
marcusarelus Posted July 6, 2019 Share Posted July 6, 2019 17 minutes ago, spidermike007 said: Grossly over simplified. Sorry to break it down for you. Both life and the tourism industry are far more complicated than that. Word gets around. Traffic deaths. Scams. Framing of innocents for crimes they had nothing to do with, to protect wealthy kids who are above the law. Mediocre service. People are far more connected these days than before. Most Americans still think I live in Taiwan. I wouldn't get too excited about tourist knowledge. Link to comment Share on other sites More sharing options...
Wake Up Posted July 6, 2019 Share Posted July 6, 2019 On 7/5/2019 at 2:20 PM, Inepto Cracy said: I have watched some of my Thai friends bemoan the fact that they could not go to Chumporn nor Chiang Mai for a holiday, too expensive for thai, over the last 4 years... Mmmmm ? Now they can take their families to Japan, Hong Kong and UK. Somehow I don't think they saved the money to go on holiday. No none of them won any jackpot either. So..... Japan and Hong Kong are very expensive places to travel to for hotels and everything. No comparison to Chiang Mai or Thailand. Link to comment Share on other sites More sharing options...
BestB Posted July 6, 2019 Share Posted July 6, 2019 Thailand Wants to Restrain the World’s Strongest Currency https://www.bloomberg.com/news/articles/2019-07-03/-worried-thai-central-bank-looking-at-steps-to-damp-baht-surge?fbclid=IwAR0-BODBixP1pA2VyO3RXJk62T9eifXVHS1zls4uroUCK9t69AVCLPwLnoE Link to comment Share on other sites More sharing options...
ThomasThBKK Posted July 6, 2019 Share Posted July 6, 2019 The BoT is very very well aware of the issues a strong baht has but they got burned in the last financial crisis which took nearly 10 years to recover from. The BoT isn't the junta gov, there are actual people who know a bit - they have tons of foreign advisors they hired after the asia crisis. They just can't do too much because it's 1) dangerous and could tank the economy more than a strong baht and 2) if they manipulate it down like other countries they will land on the list of currency manipulators - it's really that simple. Quote Don said Wednesday he didn’t know which steps to restrain the currency could be rolled out, while adding that one option may be to ask banks to be stricter on short-term transactions by non-residents. Careful what you guys wish for when you ask them to intervene... most intervention methods will include foreign capital controls and will be bad for you guys (me included). One thing could be restricting foreign capital inflow, and then have fun getting your next visa or paying your rent... Link to comment Share on other sites More sharing options...
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