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Thailand's surging baht shatters expat dreams of easy retirement

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Thailand’s Surging Baht Shatters Expat Dreams of Easy Retirement

By Randy Thanthong-Knight and Yumi Teso

 

>> Thai currency is strongest performer in Asia this year

>> Nation popular with foreign retirees but baht is hurting

 

Brian Maxey moved to Thailand from the U.K. expecting his sterling pension to afford him an easy retirement. Instead, he’s finding it harder to meet his visa’s financial stipulations because of the strong baht.

 

The former aircraft technician easily bought a townhouse, pickup truck and motorcycle when he arrived at the age of 55 two decades ago. Back then the pound bought about 60 baht, but now it fetches a little less than 38 baht.

 

“It was a cheap place to live then,” Maxey said in an interview in the coastal city of Pattaya, which is popular with European retirees. “It’s not anymore.”

 

Full story: https://www.bloomberg.com/news/articles/2019-10-03/thailand-s-surging-baht-shatters-expat-dreams-of-easy-retirement

 

-- Bloomberg 2019-10-04

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