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Financial Crisis Beginning in Thailand

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1 minute ago, saengd said:

If you google average tourist spend Thailand you'll see that Chinese tourists spend more on average than their western counterparts.

Yes thats right, they actually have the highest daily spend but stay the least amount of time. Europeans are the opposite, they come for the longest amount of time (European winter) but have lowest daily spend (own a condo, eat at home etc)

 

Tourism Expenditure per Day 

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10 hours ago, bkk6060 said:

I disagree some empty hotels and restaurants at one location do not translate to your prognosis.

A "financial crisis"  ( I suggest you research the definition) is not beginning nor going to happen.

 

Only a personal one... 

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Watching Bloomberg last night ,it was said that Thailand has not had a good year ,but things are expected to pick up next year .

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I think this is what we call "projection," to some extent.  

 

There have been likely 10 billion threads on the demise of every stock market, every housing "bubble" and every economy since the dawn of the internet.  If rich, you don't waste your time with these threads.  Same with Bitcoin, everything.  Once you get jealous of others making billions and you can't rise to their level, you want them to fall down to your level.  

 

Trust me, the rich don't care.  They make hundreds of millions of baht and enjoy the gloom and doom, as they will make even more.  Oh, wait, some new threads:

 

"Why Google is finished...."

"Why nobody will buy an iPhone again..."

"Why the stock market will go to zero and every country will go back to the stone age...."

"Why an asteroid will destroy the Earth..."

 

Wait, what?  Don't talk about the Chinese, because I don't understand that country.  I only see what I want to see.....

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I lived in a country that was suffering from a 'financial crisis' for about 5 years prior to moving here. The symptoms were as follows:

 

Very low foreign reserves which in turn resulted in

A lack of foreign goods on the shelves.

Very difficult to buy foreign currency coupled with a thriving black market.

Severe restrictions on exporting foreign currency (if you could find any)

Fuel shortages.

 

Other symptoms were:

High interest rates on the domestic currency in order to attract inward investment.

Attempts to raise taxes through both direct and indirect taxation.

Removal of subsidies on essential goods.

Little or no investment in infrastructure.

 

I see none of those symptoms here in Thailand, in fact I see very much the opposite and conclude that the O/P is looking at the wrong symptoms and drawing the wrong conclusions.

 

 

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10 minutes ago, jackdd said:

If i Google what you say the first result which takes the length of stay into account is this one: http://www.thaiwebsites.com/tourism-income-Thailand.asp

According to this statistic Europeans and Americans spend about 40% more per visit.

But i suspect that the income numbers are taken from tour companies, shopping centers and so on. A western tourist doesn't book a tour with 50 other people in a bus, but he might take a taxi, and this money is not counted towards the western tourist. So in reality it's probably more than 40% more.

When i bought my motorbike this was probably also not credited towards western tourist spending.

I think you talk about 2 different statistics.

One statistic is spend per day.. and as westeners spend longer holiday in Thailand, the amount while in Thailand can be bigger even they spend less per day. But I think this is normal. When I have only 2-3 days to look around, then I try to do as much as possible in a very short time. When I have on the other hand 2-3 weeks then I can do it in a slower run. Therefore not have to spend the same amount in 1 day. as I use 2 days to see the same (enjoy more)

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6 minutes ago, HampiK said:

I think you talk about 2 different statistics.

One statistic is spend per day.. and as westeners spend longer holiday in Thailand, the amount while in Thailand can be bigger even they spend less per day. But I think this is normal. When I have only 2-3 days to look around, then I try to do as much as possible in a very short time. When I have on the other hand 2-3 weeks then I can do it in a slower run. Therefore not have to spend the same amount in 1 day. as I use 2 days to see the same (enjoy more)

The discussion started with my post:

2 hours ago, jackdd said:

They don't understand that more arrivals doesn't mean the total time of all tourists spent in Thailand increases as well.

I think it's quite clear that i'm talking about the time (and thus money) spent per visit.

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9 hours ago, White Christmas13 said:

just one picture I don't want to name the hotel.

In which case you really shouldn't use a pic of the New Dao Cafe that various booking sites use on their sites :coffee1:

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59 minutes ago, jackdd said:

If i Google what you say the first result which takes the length of stay into account is this one: http://www.thaiwebsites.com/tourism-income-Thailand.asp

According to this statistic Europeans and Americans spend about 40% more per visit.

But i suspect that the income numbers are taken from tour companies, shopping centers and so on. A western tourist doesn't book a tour with 50 other people in a bus, but he might take a taxi, and this money is not counted towards the western tourist. So in reality it's probably more than 40% more.

When i bought my motorbike this was probably also not credited towards western tourist spending.

..And Chinese don't care about sick buffaloes either :coffee1:

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11 hours ago, CNXexpat said:

I think you don´t know what a financial crisis is. It has nothing to do with some empty hotels. In Chiang Mai are so many tourists. The streets are full. 

Streets are full LM<deleted>AO. You need to get to an eye/glasses shop.

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2 hours ago, ivor bigun said:

Watching Bloomberg last night ,it was said that Thailand has not had a good year ,but things are expected to pick up next year .

It may also rain next year too?

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12 hours ago, bkk6060 said:

I disagree some empty hotels and restaurants at one location do not translate to your prognosis.

A "financial crisis"  ( I suggest you research the definition) is not beginning nor going to happen.

Always see LoS&D as having two economies: one for the wealthy and the other for everyone else.    1% are privileged, so they are always well off, even when they leveraged themselves to the moon and back in 1997.  For the average Thai, it has been five years on a moribund merry go around of economic doldrums.    The average Thai may face crisis, but not the government or the wealthy.  1997 does not seem like it will reoccur any time soon.  Since that time, there are fewer super rich. 

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2 hours ago, jackdd said:

If i Google what you say the first result which takes the length of stay into account is this one: http://www.thaiwebsites.com/tourism-income-Thailand.asp

According to this statistic Europeans and Americans spend about 40% more per visit.

But i suspect that the income numbers are taken from tour companies, shopping centers and so on. A western tourist doesn't book a tour with 50 other people in a bus, but he might take a taxi, and this money is not counted towards the western tourist. So in reality it's probably more than 40% more.

When i bought my motorbike this was probably also not credited towards western tourist spending.

Which is why the only statistics that matters is average spend per day. If you start to factor in length of stay then you also have to factor in number of visitors and clearly China wins that one hands down at 10 mill +.

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