toenail Posted July 19, 2019 Share Posted July 19, 2019 The strong baht certainly isn’ good for their exports which includes rice (so the farmer gets a low price). Link to comment Share on other sites More sharing options...
Denim Posted July 19, 2019 Share Posted July 19, 2019 2 hours ago, onera1961 said: So what is the solution a) Strengthen export by increasing labor productivity through improved labor skills. b) Make Thailand a land of smiles instead of a land of sex. (LOS) c) Close all bars fronting as brothels and pimping girls to creepy older sexpat for marriage. d) Allow only family and medical tourism d) Put a moratorium on retirement visa and increase the financial requirement of existing visa. Invite rich to retire like Malaysia. Rich people can afford/like to buy imported goods where as poor only participate in informal economy. That would not be a solution. That would be the coup de grace. Link to comment Share on other sites More sharing options...
Denim Posted July 19, 2019 Share Posted July 19, 2019 Thailands solution to supposed falling arrivals will encompass Thainess. Squeeze those that are still coming even harder to compensate for the lost juice. Link to comment Share on other sites More sharing options...
MartinKal Posted July 19, 2019 Share Posted July 19, 2019 3 hours ago, nickstav said: I know very little about economics, and don't pretend to know what I don't know. What is the basis for the "strength" of the Baht currently? This is a really good question. One thing, noone should say the currency is being manipulated otherwise it would be a lot weaker. But we do know that the job of a central bank is to stabilize the currency which means going for stable interest rates, growth, employment and inflation. And we can also be sure that a strong baht is more likely the result of lower US interest rates. Investors will sell the dollar to buy the baht to get more yield. Which also means that if ever the US started to put up interest rates the baht would take a tumble and worse. And if people in Thailand hold dollar-denominated debt then they will be in big trouble. This was what caused the "Tom Yum Goong" crisis of 1997. So we can conclude that the government finds it more convenient to blame the baht instead of confronting the real problems of the tourism sector of the economy whose infrastructure and people need a big big upgrade. Link to comment Share on other sites More sharing options...
Baerboxer Posted July 19, 2019 Share Posted July 19, 2019 3 hours ago, mania said: Sorry every tourist I know does not complain even at getting 30/1 USD But what they do not like is the BS government the previous overthrow of a democratically elected government & what they hate most of all? Corruption at almost every step of the way. Tourist I know who made annual treks to Thailand have found greener pastures They were very much in love with the Thailand of 10 years ago & still came yearly But year after year they saw/felt the changes & finally said enough. It is just not that nice of a place to visit anymore. My wife & I we come every year of course as we have a country house & family to visit that will not change. But folks we know without Thai ties that loved Thailand no longer vacation there & to be honest an improved exchange rate would not change their minds. Tripe. I don't know one single potential person, group, tourist company, travel agent who've said "I won't be coming to Thailand because the democratically elected crooked Yingluck government was overthrown in a coup". Get real. Tourists want good value for money - whatever their personal choices of holiday activities are; safety, and to be treated well. Thailand's proposition to the tourist market has lost out in these areas. The strength of the Thai Baht adversely impacts the value for money making everything more expensive. Link to comment Share on other sites More sharing options...
nickstav Posted July 19, 2019 Share Posted July 19, 2019 15 minutes ago, MartinKal said: This is a really good question. One thing, noone should say the currency is being manipulated otherwise it would be a lot weaker. But we do know that the job of a central bank is to stabilize the currency which means going for stable interest rates, growth, employment and inflation. And we can also be sure that a strong baht is more likely the result of lower US interest rates. Investors will sell the dollar to buy the baht to get more yield. Which also means that if ever the US started to put up interest rates the baht would take a tumble and worse. And if people in Thailand hold dollar-denominated debt then they will be in big trouble. This was what caused the "Tom Yum Goong" crisis of 1997. So we can conclude that the government finds it more convenient to blame the baht instead of confronting the real problems of the tourism sector of the economy whose infrastructure and people need a big big upgrade. Well, I still don't know much about economics, but I just read that the US Fed interest rate is the highest it has been since 2008 (???). Link to comment Share on other sites More sharing options...
beavenlen Posted July 19, 2019 Share Posted July 19, 2019 here we go again,had to be someone bashing the poor old codgers,still makes a change from thai bashing i suppose Link to comment Share on other sites More sharing options...
zydeco Posted July 19, 2019 Share Posted July 19, 2019 2 hours ago, nickstav said: but I don't think the average tourist gives a rat's ass about the political situation here Most tourists I think tend to get nervous when there is a constant presence of people in uniform with weapons constantly around. It doesn't generate confidence. Link to comment Share on other sites More sharing options...
zydeco Posted July 19, 2019 Share Posted July 19, 2019 1 hour ago, malt25 said: I thought this was about tourism ? If you're on a retirement extension, you're still nothing more than a tourist officially. Link to comment Share on other sites More sharing options...
nickstav Posted July 19, 2019 Share Posted July 19, 2019 5 minutes ago, zydeco said: Most tourists I think tend to get nervous when there is a constant presence of people in uniform with weapons constantly around. It doesn't generate confidence. And where is that happening? Not here in Hua Hin. Link to comment Share on other sites More sharing options...
Juan B Tong Posted July 19, 2019 Share Posted July 19, 2019 Well the new minister seems to be starting down the wrong path. Actually being honest about the value of the bhat. Those few who have enriched themselves by catering to megamass tourism from China are now praying for Indian tourists. If the bhat was fairly valued, more tourists would come and if undervalued, Thailand would once again be swimming in backpackers, Eurotrash, and sex tourists. Link to comment Share on other sites More sharing options...
Brickbat Posted July 19, 2019 Share Posted July 19, 2019 Banks around the world trade currencies for a big part of their profits. And being no fools in this game, they have invested heavily in the Baht. And this has been acknowledged by the Assistant Governor of the Thai Central Bank, as being harmful to the Thai economy. Link to comment Share on other sites More sharing options...
mrmicbkktxl Posted July 19, 2019 Share Posted July 19, 2019 4 hours ago, mania said: Sorry every tourist I know does not complain even at getting 30/1 USD But what they do not like is the BS government the previous overthrow of a democratically elected government & what they hate most of all? Corruption at almost every step of the way. Tourist I know who made annual treks to Thailand have found greener pastures They were very much in love with the Thailand of 10 years ago & still came yearly But year after year they saw/felt the changes & finally said enough. It is just not that nice of a place to visit anymore. My wife & I we come every year of course as we have a country house & family to visit that will not change. But folks we know without Thai ties that loved Thailand no longer vacation there & to be honest an improved exchange rate would not change their minds. Wasn't the $ for decades 1-25?So I would say Americans have nothing to complain Link to comment Share on other sites More sharing options...
473geo Posted July 19, 2019 Share Posted July 19, 2019 Simple mathematics - Tourists will still arrive But.....by way of example, a tourist from the UK saves every year GBP 2000 spending for his two week holiday, he exchanges it at home A few years ago at 50 baht to the GBP he was arriving with spending money in baht 100,000 Current exchange rate say 37 he is arriving with 74,000 baht 26,000 baht from one tourist that the Thai people will not see, unless he has the capacity to raise the initial annual holiday funding, given the current global economic climate many probably not willing or carrying the ability to do so Link to comment Share on other sites More sharing options...
nickstav Posted July 19, 2019 Share Posted July 19, 2019 3 minutes ago, mrmicbkktxl said: Wasn't the $ for decades 1-25?So I would say Americans have nothing to complain When I first started coming to Thailand on holidays in 2002 I distinctly remember getting 40-42 Baht for 1 USD. Link to comment Share on other sites More sharing options...
Parsve Posted July 19, 2019 Share Posted July 19, 2019 Good that someone in the goverment react, but he is on the wrong path. The Central bank in whatever country it is have one task and that is to hold the inflation on an acceptable level. If the currensy is high or low is not for them to consider about. Link to comment Share on other sites More sharing options...
Chrisswe Posted July 19, 2019 Share Posted July 19, 2019 YES but it's not the main reason to be honest, this loss started c:a 5 years ago, slowley but safe come to the current situation !!! Link to comment Share on other sites More sharing options...
johnny49r Posted July 19, 2019 Share Posted July 19, 2019 5 hours ago, webfact said: Big Headache for Thailand's Tourism A strong baht has an effect on tourism but the governments efforts to rid itself of low quality visitors must be taken into account also. That coupled with filthy overcrowded beaches and oceans, countless tourist rip-offs, safety issues, and tourist punishments for violation of goofy laws pretty much dooms tourism. Given a loss in tourist revenue, the government won't need to worry about a strong baht too much longer. BTW has the Thai government defined a 'low quality' tourist? Link to comment Share on other sites More sharing options...
mania Posted July 19, 2019 Share Posted July 19, 2019 52 minutes ago, Baerboxer said: Tripe. I don't know one single potential person, group, tourist company, travel agent who've said "I won't be coming to Thailand because the democratically elected crooked Yingluck government was overthrown in a coup". Get real. Sorry I guess you & I know different folks... We know not only tourist who would not go to such a Junta controlled country but also know folks who moved away. Then again what you said above about Yingluck kinda tips your hand/opinion ???? But we do agree on your second half of your post as it is basically the same as what we know & a lot of it is due to forms of corruption. Once some see that works others try the same gouging etc End result same....grass greener elsewhere Link to comment Share on other sites More sharing options...
tjo o tjim Posted July 19, 2019 Share Posted July 19, 2019 Repeat tourists care about the exchange rate. Not sure about “backpackers” today; back in my day my budget was based on my home currency; I might not notice a 5-10% difference in a single day, but over the course of a week it started give an incentive to move on. For two-week “luxury” tourists, the big hotels are price-constrained in terms of foreign currency, and the local spend is small enough to not be meaningful +/-10% exchange rate. Purchasing goods might be a different story though. Link to comment Share on other sites More sharing options...
zydeco Posted July 19, 2019 Share Posted July 19, 2019 27 minutes ago, mrmicbkktxl said: Wasn't the $ for decades 1-25?So I would say Americans have nothing to complain Yeah, just like the required amount of money in a Thai bank account then was just 200K instead of 800K with no seasoning required. Go back to that, and no problem with 25 baht to dollar. Link to comment Share on other sites More sharing options...
RichardColeman Posted July 19, 2019 Share Posted July 19, 2019 4 hours ago, onera1961 said: So what is the solution b) Make Thailand a land of smiles instead of a land of sex. (LOS) c) Close all bars fronting as brothels and pimping girls to creepy older sexpat for marriage. Really ? b} That's probably one of the things keeping the Thai economy going ! c} You really think Thai girls want to earn 300 baht a day grafting in a factory as opposed to 1000's on their back and eating at others expense ? Link to comment Share on other sites More sharing options...
Uptooyoo Posted July 19, 2019 Share Posted July 19, 2019 4 hours ago, mania said: Sorry every tourist I know does not complain even at getting 30/1 USD But what they do not like is the BS government the previous overthrow of a democratically elected government & what they hate most of all? Corruption at almost every step of the way. Tourist I know who made annual treks to Thailand have found greener pastures They were very much in love with the Thailand of 10 years ago & still came yearly But year after year they saw/felt the changes & finally said enough. It is just not that nice of a place to visit anymore. My wife & I we come every year of course as we have a country house & family to visit that will not change. But folks we know without Thai ties that loved Thailand no longer vacation there & to be honest an improved exchange rate would not change their minds. I liked Thailand before technology, before the internet. Back in the day, we were curious about one another. Travel was meaningful and fun. We made eye contact. We smiled and chatted. Your entertainment was the person sitting next to you, not the person at the other end of your messenger app. Mobile devices didn't exist. If you needed tickets, you had to go to a travel agent; if you needed directions, you had to ask a local for directions; if you wanted to know the ingredients in a plate of food, you spoke with the cook, or for the meaning of a word, someone bilingual, not Google Translate. I believe a lot of the current dissatisfaction stems from the disconnect. The world has become so connected that we're not connected. Human interaction is only superficial, if not completely absent. Both tourists and locals have become jaded. With everyone posting everything on Youtube, it's nearly impossible to have a new experience. The locals already know about your culture, and you, theirs. Traveling has become much like an amusement park experience...don't stop, keep moving, hand them your money. So people shuffle along, barely lifting their eyes from their screens, while planning the next big "adventure." Link to comment Share on other sites More sharing options...
bronzedude Posted July 19, 2019 Share Posted July 19, 2019 Just a few days ago, his predecessor said the opposite. This is probably fake news. Just like the PM asking Thais not to rip off tourists. Fake news. Link to comment Share on other sites More sharing options...
nong38 Posted July 19, 2019 Share Posted July 19, 2019 At last the penny has dropped, sadly not the fastest out of the blocks and do they have any idea how to solve the problem? Answers on a yellow shirt to your nearest Prime Minister. Link to comment Share on other sites More sharing options...
lamyai3 Posted July 19, 2019 Share Posted July 19, 2019 59 minutes ago, mrmicbkktxl said: Wasn't the $ for decades 1-25?So I would say Americans have nothing to complain That was back when a reasonable hotel room cost $10 and everything else was a fraction of the price. Link to comment Share on other sites More sharing options...
kcpattaya Posted July 19, 2019 Share Posted July 19, 2019 Puppet show! My God - the incompetence of these guys... Amazing Thailandhttps://www.nationthailand.com/business/30373053 Link to comment Share on other sites More sharing options...
Chivas Posted July 19, 2019 Share Posted July 19, 2019 Yet again the over emphasis is on the strength of the Baht against the Dollar whereas the very real problem is our home countries weakness against the US Dollar on the other side of the currency pairings. Thats why British, Euro Nations, Aussies and Kiwis are at all time lows as regards visitors. Baht strength against the Greenback is 25% of problem but the other side of the currency pairing is accounting for 75% of it make no mistake Article after article gives the impression that every currency has a direct exchange rate with another. They simply dont . Link to comment Share on other sites More sharing options...
nickstav Posted July 19, 2019 Share Posted July 19, 2019 1 hour ago, mrmicbkktxl said: Wasn't the $ for decades 1-25?So I would say Americans have nothing to complain I just looked it up on the historical currency converter (yes there is such a thing). On January 1, 2002 the official exchange rate was 44.45 Thai Baht for 1 USD. Link to comment Share on other sites More sharing options...
Krataiboy Posted July 19, 2019 Share Posted July 19, 2019 Earlier this week, a headline in the nation was assuring us STRONGER BAHT NOT KEEPING TOURISTS AWAY. It was based on an upbeat assessment of the state of Thai tourism by the then Tourism and Sports Minister Weerasak Kowsurat. For some reason, Kuhn Weerasak has been replaced. Link to comment Share on other sites More sharing options...
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