Fewer tourists are going to Thailand because of its expensive currency

[ross163103]

I remember a few years back when the baht was climbing and Thai businessmen started expressing their concerns; the Thai govt said, "Don't worry, we will keep it around 36 to the USD." 55555! 

[lkv]

41 minutes ago, DLock said:

Interesting.

 

So the average tourists whole reason for coming to Thailand is the low priced of beer in street bars and "dive bars"? 

 

Why is it a stupid question?

Some of the tourists may end up at Siam Ocean World. Very cheap. USD 30 (900 baht) to see some fish.

 

Then they may want to see some rocks at Grand Palace for USD 17 (THB 500).

 

They may want to visit the Bangkok Zoo at USD 27 (THB 800). Btw, the zoo in Taipei costs 60 TWD (60 baht) and it's nicer.

 

Then, if they want to visit some national park, they are better off in Tokyo. It's cheaper in Tokyo.

 

Then, after a day of exploring, they are thirsty and they want a beer, where they pay USD 5 for a small beer or USD 10 for a cocktail or USD 15 for a cocktail in a more rip off place.

 

Then, when they go back home from their drinking session, god forbid they are in Phuket, a taxi will cost them more than in their home country. Western home country, that is.

 

For example.

[bronzedude]

"Hi Central Bank, I'm the new tourism minister. What are you going to do about the high baht?"

"Hi new tourism minister, we're going to do nothing."

"Oh, really"?

"Really."

"OK."

"I'll just go back and tell the people that I"m doing all I can."

"Sounds good."

[hotchilli]

4 hours ago, nev said:

No just the high Baht, Making it hard to stay here with Draconian visa rules are driving many away.

Coupled to the ever increasing prices on the street as Thais try to chase a profit from fewer punters !

Immigration rules will make a few stay away as-well, seeking other destinations that welcome you in a more friendly manner !

[marcusarelus]

8 minutes ago, hotchilli said:

Coupled to the ever increasing prices on the street as Thais try to chase a profit from fewer punters !

Immigration rules will make a few stay away as-well, seeking other destinations that welcome you in a more friendly manner !

A lot of off season deals and half price specials same as whenever business slows.  Good time to travel and stay at the more expensive hotels. 

[fxe1200]

3 hours ago, SmartyMarty said:

first it's lack of safety, then violence, then a high baht.....what next?

...a coup??

[marcusarelus]

2 minutes ago, fxe1200 said:

...a coup??

I've been through 3.  Nothing to worry about. 

[brewsterbudgen]

...a coup??

Or maybe another tsunami; or a blockade of the airport; or a war-zone in central Bangkok; or tourists being raped and murdered in Kho Tao? But still they come...

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[Isaan sailor]

Bank of Thailand remains intoxicated with foreign hot money inflows.  They just won’t lower interest rates.  This begs the question: Was taking in the hot money, worth crashing the economy, BoT?  Tourists, farmers, export manufactures and expats all want to know...

[rvaviator]

Fewer Tourists are coming to Thailand because it is full of Indians, Chinese & Arabs, not to mention a pretty big African brigade.
If Western Tourists wanted to mingle with those people, then they would visit their respective countries (which they do not, in any significant numbers).
 
It should be real easy for Thailand to fix this.
 
Make a list of the top 100 countries, and rate them on a scale of how rich or poor they are. Thailand will be somewhere in the middle.
 
Any country deemed Richer than Thailand, should have it's tourists welcomed with open arms, and have easy visas and free movement. Those are the tourists Thailand should be attracting.
 
Any countries deemed poorer than Thailand should have very stringent Visa Requirements, as most of the people coming from poorer countries are not tourists, they are coming here for economic gain, to work illegally or engage in other scams & crime.
 
They are not real tourists.
 
You see, it is actually simple math, it would take a year or two to implement and but the results would be nothing short of revolutionary, and take Thailand's tourist industry to the next level.
 
But as I often see here, the simple solutions are overlooked as common sense is not in abundance.

Hmmm so in your list .. where would you rank China ? Above or below Thailand ...


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[tjo o tjim]

1 hour ago, DLock said:

So the average tourists whole reason for coming to Thailand is the low priced of beer in street bars and "dive bars"? 

The original comment was value for dollar/euro.  Paying the same price for a nice hotel in Thailand as the Mandarin Oriental in Singapore is a simple example of poor value when you factor in the service level and quality of the experience. If it wasn’t for the connections I have developed with Thailand over the past two decades, I would never come back. Even if I am paying $300/night for a hotel room, my wife and I are both insulted by a 200B beer down the road, or especially 400B for a songthaew on the islands for a 2-mile trip. 

 

As as it is, other places look attractive for many reasons.  I would rather meet family from Europe in Central America at this point. They feel like they have “been to Thailand.”  Each little thing is just another straw. They add up eventually. 

[marcusarelus]

8 minutes ago, Isaan sailor said:

Bank of Thailand remains intoxicated with foreign hot money inflows.  They just won’t lower interest rates.  This begs the question: Was taking in the hot money, worth crashing the economy, BoT?  Tourists, farmers, export manufactures and expats all want to know...

The pound has dropped in value for not just the Thai baht.  It has dropped in value against almost every other currency and Thailand is not responsible for that.  Squarely it is on the British electorate. 

[Isaan sailor]

Just now, marcusarelus said:

The pound has dropped in value for not just the Thai baht.  It has dropped in value against almost every other currency and Thailand is not responsible for that.  Squarely it is on the British electorate. 

Sorry for the Pound drop.  And at least you’re comparing currencies to other currencies.  That’s fair.  But when one compares a particular currency to gold—that’s a fallacious argument. Gold rises and falls of its own accord.  China and India hoard gold and continue buying

[metisdead]

Some off topic posts have been removed. 

[marcusarelus]

15 minutes ago, Isaan sailor said:

Sorry for the Pound drop.  And at least you’re comparing currencies to other currencies.  That’s fair.  But when one compares a particular currency to gold—that’s a fallacious argument. Gold rises and falls of its own accord.  China and India hoard gold and continue buying

That's what I thought. Until I investigated.  Gold or any precious metal should be a constant which currencies are weighed against.  If I'm correct the pound would have dropped in value to gold or copper or platinum.  So to validate my theory that the pound went down as opposed to the baht going up one only has to compare the pound and baht to the price of the precious metal.  It takes more pounds to buy a precious metal today than ten years ago.  It takes roughly the same amount of baht.  I think that proves my hypothesis.  However I'm sure there are posters here who are more knowledgeable than I like 'Nam" who could confirm.  Seems to me that would explain to people who think the baht is being inflated somehow by the bank that that is not the case. 

[Isaan sailor]

Vietnam welcomes western tourists with a low currency and clean beaches.

Thailand loves ChiComs, frowns on western tourists, does not have the best beaches, and a sky-high currency.  Wake up, BoT...

[marcusarelus]

24 minutes ago, Isaan sailor said:

Vietnam welcomes western tourists with a low currency and clean beaches.

Thailand loves ChiComs, frowns on western tourists, does not have the best beaches, and a sky-high currency.  Wake up, BoT...

What could the Bank of Thailand do to lower the value of the American dollar vs the Thai baht that the international monetary community would not consider currency manipulation?

[ChrisY1]

The baht may be high, but not so much that would influence tourists to stay away.....it's still a cheap place to come to....hotels in most areas can be had for B500 for a basic place.

Tourists are becoming wise....Thailands' poor reputation is taking effect

[Percy P]

5 hours ago, nev said:

No just the high Baht, Making it hard to stay here with Draconian visa rules are driving many away.

I agree with your criticism about visa rules but the currency exchange is your own countries poor performance which leaves your currency worthless.

[DrTuner]

13 minutes ago, marcusarelus said:

What could the Bank of Thailand do to lower the value of the American dollar vs the Thai baht that the international monetary community would not consider currency manipulation?

Quantitative easing ought to do it. In other words, start printing money. IMF even asked for it.

[DLock]

2 minutes ago, ChrisY1 said:

The baht may be high, but not so much that would influence tourists to stay away.....it's still a cheap place to come to....hotels in most areas can be had for B500 for a basic place.

Tourists are becoming wise....Thailands' poor reputation is taking effect

 

I agree. It's not about the price of a beer on the sidewalk...it's about the reputation that Thailand has created over the years that people no longer wish to experience.

 

It's still relatively cheap, but if you want International 5-star and brands, the price will be relatively consistent between Singapore and Bangkok...but step down a few stars into the 3-star category, and Thailand is still good value.

 

It's a country that has grown up and is no longer the tourist happy, friendly, exotic location it once was. Other countries have taken over that role and offer better value...but trying to blame everything on the baht is limited logic...

[lkv]

11 minutes ago, Percy P said:

I agree with your criticism about visa rules but the currency exchange is your own countries poor performance which leaves your currency worthless.

Yes. Thai baht should gain the status of world currency. People all over the world should issue invoices in Thai baht.

 

They earned this right. It's so strong, all the other world currencies are crap.

 

????????????

[JMSIII]

Add to all of the above, the fleecing from Thai's to tourists!  Along with the rudeness that is so prevalent with Thais these days.

 

I bought three boxes of Nurofen (Motrin) for the first time in Thailand, from a pharmacy, I was charged 350 baht per box.  The second time I bought at a different pharmacy and the price was 120 baht per box, which seems to be the correct price.  

 

Lately the motorbike taxis are charging extremely high prices in Bkk and Pattaya.  I have been charged 120-150 baht for a short ride.  I said no way dude, I will give you 50 baht and no more.  They pushed a little bit, then laughed and said 50 ok.  I know I was probably pushing it, probably close to being assaulted by 10 of them, but 120-150 is insane...

 

The taxi mafias are getting worse in my opinion for the most part.  But I do have to say, that every once in awhile I do run into a really nice, honest taxi guy.

 

I'm telling other Americans back home to pass on Thailand...

[Isaan sailor]

Bank of Thailand is greedy.  Too much hot money inflows, and for way too long. Their intoxication with bond sales has made Thailand uncompetitive.

[Tgcoll]

you will not know the value of a good friend til you lose him, for some times now it shows as if u guys don't need the foreigner, a tree cannot make a forest 

[wisperone]

8 hours ago, madmitch said:

One moment arrivals are up, the next they're dropping!

Will we ever get any consistency from the TAT and the Tourism Ministry?

Edited 8 hours ago by madmitch

Yes, they are consistent at being inconsistent.

[marcusarelus]

3 hours ago, DrTuner said:

Quantitative easing ought to do it. In other words, start printing money. IMF even asked for it.

The Trump administration has argued that countries like China and Germany have built up their manufacturing industries in part by underpricing their currencies, which makes their goods artificially cheaper abroad.

 

Check, “real effective exchange rate,” which is used by the International Monetary Fund.

[DrTuner]

8 minutes ago, marcusarelus said:

The Trump administration has argued that countries like China and Germany have built up their manufacturing industries in part by underpricing their currencies, which makes their goods artificially cheaper abroad.

 

Check, “real effective exchange rate,” which is used by the International Monetary Fund.

Yeah well helicopter Ben did a pretty good job sinking the USD a while ago. 

 

This site has a bunch of indicators including your REER: https://www.ceicdata.com/en/indicator/thailand/real-effective-exchange-rate

 

I'd love to see Thailand do heavy duty QE, get on Trump's nerves with the lopsided trade balance and face sanctions. Because they're worth it.

[nickstav]

8 hours ago, spidermike007 said:

The high baht is a popular excuse, on the part of authorities who will not, can not, and do not take responsibility for anything that is wrong with the nation. That is part of the problem with the army.

 

The neighbors are making a real effort, improving, progressing, and creating a better environment for tourism. While here in Thailand, the environment is one of stagnation, regression, a total lack of vision, xenophobia, fear of foreigners, confused and muddled visa policy, and a baht that is far stronger than it needs to be, should be, or deserves to be. 

 

No effort is being made to address tourist safety, or public safety in general. No effort is being made to address traffic safety and the horrendous amount of bus, mini-van, car, truck, and motorbike accidents on the road. No effort is being made to improve the highway patrol, or even get those incompetent clowns to patrol the highways, and pull people over for reckless driving. No effort is being made to address the understaffed immigration counters at DM, or Swampy. No effort is being made to tackle corruption on the part of the RTP franchisees. Quite the opposite. They are being deliberately protected. No effort is being made to address the myriad of environmental issues Thailand faces, whether it be the water quality, the air quality, the burning by farmers, the plastic epidemic, the extreme lack of trash cans throughout the nation, and a vast host of other issues. And finally, no effort is being made to reform the tourism ministry, separate it from the sports ministry (hair brained to the extreme), or improve the TAT. Nothing. 

 

The army is doing nothing, to benefit the people, or tourists. Absolutely nothing. Perhaps even less than zero. And on top of that, they are liars, so anything in the way of stats, or information coming from this administration is probably false. Perhaps the name should be changed from the Thai Army to the Nothing men. Of course tourism is dropping. Why would it not be dropping? 

Good post, but you could have just stopped at "no effort" 555

[boonrawdcnx]

Absolutely ridiculous argument - why would a tourist care if he gets 31 or 33 baht for a dollar or 34 or 36 Baht for a Euro?

Tourists stay maybe 2-3 weeks then they go home again. If they spend 200 Euros a day they will hardly care if they loose 5 or even 10 Euros a day because of the exchange rate. Hotel prices are down or at least not higher than previous years.
Flights have never been cheaper easily making up for the costs of the high Baht.
Just ran a random flight search on Kayak - for example during the high season from Munich to Bangkok - a very busy route normally- return during December - January and got an amazingly low price of 15.055 Baht return during the HIGH SEASON!
That means nobody or very few Europeans are coming.
Usually inflated seasonal prices during this time of the year are between 28.000 mid December up to 40.000 Baht around Christmas time for economy return.

Wake up Thailand!
Tourists not coming has very little to do with the high baht - but of course any excuse to hide the truth will do!
My relatives are still coming here because we take care of them from the moment they arrive to the moment we take them to the airport when they leave.

But I would never ever recommend to them coming here on a holiday alone - the thought alone of leaving my elderly mother to the vultures who pray on tourists from the moment they arrive here makes me shiver.



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