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Strong baht a big, big headache for Thailand’s tourism


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3 hours ago, wisperone said:

It's not the currency stupid. 2 weeks tourists don't care or would notice the strength of the B. It does however affect the expats trying to reside here. There are just too many issues to discuss.

Of course it does.

When you exchange money and start to spend it, you automatically start to make mental calculations and compare it to your own country or previous visits.

It's human nature to do so.

Like if a beer in a go go bar is 200 baht and you are from the UK. You will think that in excess of 5 quid is probably a bit steep for a bottle of pig swill!

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38 minutes ago, Sticky Wicket said:

When you exchange money and start to spend it, you automatically start to make mental calculations and compare it to your own country or previous visits. It's human nature to do so.

I agree although many of my comparisons are when I'm back in Australia and I figure out what I'm eating or drinking there compares to what I'd be paying in Thailand. I've completely altered my coffee consumption habits in Thailand when I realised how totally outrageous many coffee shop prices are in central Bangkok vs. Sydney

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7 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.

 

Nice romantic thoughts, but watch them flood back if the baht were to weaken drastically. Tourists want bang for their buck, they dont care who is in charge.

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8 hours ago, Mango Bob said:

Why not just stop screwing with the people.  TM30 must stop.  Only those who are legal here will use it.  Those on overstages and criminals are not going to use it.  It is a waste of immigration time and are time.  Also stop cheating the tourist and all foreigners in the country.

100% agreed, the baht plays a part but when a hard working Tourist comes  here with his reduced spending money and the first thing that happens is he is ripped if by the cabbie that is what he will remember

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5 hours ago, Artisi said:

Think that sums it up completely, those in charge are making a mint (in overseas currencies) of the back of the current situation. 

Absolutely right.  BoT sits on their hands and simply monitors the Baht.  Reality: the find foreign hot money from bond sales intoxicating.  So who profits? Who gets hot money kickbacks?

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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.
 

"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."

Totall nonsense on a grand scale. Ask 100 tourists who is running the country and you will get 100 shoulder shrugs

It's always always ALWAYS about the money
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11 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.

 

When it was 45 baht to the doller there was nothing to complain about, all currency have dropped by a 1/3 for a long time now if I was single with no family I would be away from thailand until the bhat picked up its making thailand expensive to visit, aussie dollar at 21 it's nearly at the point it was in the early 90's everything was half the price of what it is now glad I brought my property when the bhat was normal

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Of course tourists care about prices they pay. I have been going to Thailand for the past 30 years and can very well feel the pain in the bills I pay. Luxury hotels at the price I pay in Costa Smeralda, at least 40 euros for a decent bottle of wine, 100 euros for a two person dinner and cocktails at high end bars or at beach hotels at the same price they cost on NYC ! Besides,  the neighbouring countries like Malaysia, Cambodia and Vietnam have the same quality to offer and they cost half as much ....

This said, please tell me who on earth is buying THB for currency investment ??? 

The THB , as the Chinese Yuan, are kept strong in an artificial way , but it won't last forever ! 

Doesn't the Government have a Finance Minister ? It should be his job to look into this in a propper way ...

 

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4 hours ago, Ulic said:

Medical tourism is fine but most western countries have public healthcare and Thailand does like to squeeze the golden goose. Healthcare in Thailand is much more expensive than India and not nearly as high standard as Singapore. About the only medical tourism left is cosmetic surgery for Australian (mostly women).

There is a whole swath of Middle Eastern countries. Just because they have to compete with India, does not mean they give it up. I did not say not to increase standard. I said to focus on Medical and family tourism not sex tourism.

 

For the rest, I would only say that no country in the World has escaped middle income trap by opening up brothels through out the country and pimping their poor daughters to old creepy sexpats for marriage. If it was that easy, everybody will adopt the same model. 

 

 

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I have  lived here for 10 yrs and its not just the exchange rate. It's  the pollution the  people have changed also  gone are the smiles the laughter. Sad thing is the Thais know they are getting <deleted>.... Over by the goverment the corruption and  the  1 % of Thais that control 67 % of the wealth

(Hiso land) and  the constant lies make by junta media machine. 

And yep people are not coming you can see it open the blinds and look outside. 

Its not  a illusion. 

But as Thais live in denial  it's not until the shit has hit the fan that's when the blame game starts and they  try to resurrect a dead fish. 

But as long as the sex industry is alive it will survive. Opps I forget there is no sex industry in Pattaya the government said  so 

 

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20 hours ago, johnny49r said:

BTW has the Thai government defined a 'low quality' tourist

I think not, but recent strategies to make up for the tourism shortfall have included pronouncements they'll be courting Indians, Middle Easterners and Africans, as well as ganja tourism. Ironic that all those operation black eagle expulsions have come back to haunt them... 

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On 7/19/2019 at 6:53 AM, nickstav said:

I would agree with most of what you said, but I don't think the average tourist gives a rat's ass about the political situation here, and whereas they don't like getting what they feel as "being ripped off" that's not attributable to corruption within the government itself.

Agreed - and if they come here for a week or fortnight & find that for two nights they can't find a restaurant that is open or a bar that serves alcohol, they'll cross it off their list of future holidays.

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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?


I can tell you exactly what it is. A currency fluctuates by demand.
Since the rest of the world - and countries where it would be normally save for investors to park their money give hardly any- or no interest at all Thailand is one of the few exceptions.
Many other counties offer higher interest rates but are considered more of a risk than Thailand - so the short term influx of hundreds of billions to buy bonds keeps driving the Baht up. The government is just selling another 128 billion in bonds this month and this is already a reduced amount with the central bank trying to stem the influx that drives up the baht but on the other hand they refuse to lower interest rates which is the cause of the influx.

It will be Interesting to see how they finance the trillion baht mega projects that are planned in the next few years but it looks like it will all be on borrowed money so expect a further rise of the baht.
But this government does not care - they only think of the short time gain and the billions they are going to skim of for themselves and their cronies.
Five years of incompetence and miss management are starting to show now.



Sent from my iPhone using Thailand Forum - Thaivisa mobile app
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On 7/19/2019 at 8:36 AM, Isaan sailor said:

Tired of reading posts from Thai Baht apologists.  Get real.  Baht is unacceptably high, and BoT doesn’t give a rat’s a$$ about tourism or exports.  Let the recession begin...

What must they do? Lower interest rates and push up the already high personnal debt load. Increase interest rates in an economy thats already struggeling? Go back to 1997 and see what happened when Thailand tried to defend its currency against speculators. They have learned their leason, but some people on TV didnt.

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8 hours ago, boonrawdcnx said:

 


I can tell you exactly what it is. A currency fluctuates by demand.
Since the rest of the world - and countries where it would be normally save for investors to park their money give hardly any- or no interest at all Thailand is one of the few exceptions.
Many other counties offer higher interest rates but are considered more of a risk than Thailand - so the short term influx of hundreds of billions to buy bonds keeps driving the Baht up. The government is just selling another 128 billion in bonds this month and this is already a reduced amount with the central bank trying to stem the influx that drives up the baht but on the other hand they refuse to lower interest rates which is the cause of the influx.

It will be Interesting to see how they finance the trillion baht mega projects that are planned in the next few years but it looks like it will all be on borrowed money so expect a further rise of the baht.
But this government does not care - they only think of the short time gain and the billions they are going to skim of for themselves and their cronies.
Five years of incompetence and miss management are starting to show now.



Sent from my iPhone using Thailand Forum - Thaivisa mobile app

 

Some people would say they are just making hay while the sun shines.

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1 hour ago, FarFlungFalang said:

I'm beginning to think you're under the influence of a controlled substance and how do you know so much about the lives of bar girls and daughters being pimped by their fathers if you're so much against the industry?

Personally, I reckon his wife and daughter ran off and got jobs in the 'Get It Here Bar' on Soi 6 and regularly send him action videos.

 

I could be wrong though.

 

The new Tourism guy needed a soundbite, he's just taken office in the new Cabinet. He had to say something apart from "Hi, I'm the new Tourism Minister,' didn't he?

 

Thailand got over the tsunami, the street riots, the Global recession, the coup, and the Erawan Shrine bombing in the last decade and a bit. It'll come through this too, not that numbers are decreasing, that's just selective reading and regurgitating.

 

The one issue they simply do need to tackle is air quality. It's an eco-aware world today and travellers will shun polluted destinations, particularly if they are travelling with kids.

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11 hours ago, nickstav said:

What is your source of information for the claim that most of them are under the influence of a controlled substance? How do you know that? Don't make claims for things that you don't know!

Also  How do you know they enjoy what they do and are not forced by family Boyfriends or Husbands. Maybe you dont know a lot about Thai culture 

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Germans biggest "newspaper" (BILD) just released an article that compares all favorite german Holiday destination prices, including Thailand, to last years prices.

I would link it here but whenever i do someone reports me for "german language" and muh it gets deleted so basically it says this:

 

Egypt: +26,8 %

Cuba: +20,6 %

Philliphines (LOL): +8,8%

Bahamas: +7,9%

Thailand : +7,5%

Japan: +6,5%

Brasil: +6,5%

USA: +6%

RUSSIA: +4,2%

Bulgaria: +3,5%

Poland: +2,6%

Denmark: +0,3%

Norway: -0,4%

Sweden: -1,2%

Turkey: -2,1%

Columbia: -7,8%

Iceland: -8,4%

Argentina: -8,8%

 

Egypt prices rose 14% and the EUR lost 10%, so i guess our near favorite holiday destination is off worse than Thailand this year.

 

No source was given, take it with a grain of salt - or two.

 

Our favorite (LOL) Thailand alternative Philliphines seems to rise faster in price than Thailand.

 

EDIT: Source in one of the infographics is mentioned as Transferwise, can't find the original article tho

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On 7/19/2019 at 3:54 AM, 473geo said:

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

 

Actually it's worse than that because you also have to factor in inflation.

 

A few years ago, a beer would be 50 baht. It's now 70baht so not only do you have less baht to spend, you are also paying more for the same goods versus a few years ago.

 

 

 

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On 7/19/2019 at 8:27 AM, madmen said:


Totall nonsense on a grand scale. Ask 100 tourists who is running the country and you will get 100 shoulder shrugs

It's always always ALWAYS about the money

 

I think you're right in that tourists won't know who runs the country however, they will know it's a military government through the media  We know for instance Cuba is communist, we knew back in the day that Burma was ruled by the Junta, we know Corbyn is a Socialist idiot....

 

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I'm in Mexico at the moment, Parks free, ATM rate two days ago was $2.40, and got the current exchange rate.

6 month tourist visa, no hassles what so ever.

Air quality!  I am in heaven.

Women, not as easy as Thailand(but Thailand has had 45 years perfecting that).  But, definitely doable. 

Even as a tourist it will be hard for me to stomach Thailand again. 

Bottom line, Thailand is a big pass for me.

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On 7/22/2019 at 5:26 PM, garyk said:

I'm in Mexico at the moment, Parks free, ATM rate two days ago was $2.40, and got the current exchange rate.

6 month tourist visa, no hassles what so ever.

Air quality!  I am in heaven.

Women, not as easy as Thailand(but Thailand has had 45 years perfecting that).  But, definitely doable. 

Even as a tourist it will be hard for me to stomach Thailand again. 

Bottom line, Thailand is a big pass for me.

Well, what are you doing on this website? Sign in to mexicanvisa.com

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