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Banana7

Financial Crisis Beginning in Thailand

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Chinese and indians are more welcome in Thailand then westerners done know why they dont spend the money we do but each to there own ..... i no longer stay bkk more then few days but the less customers the more hotels charge ..... instead go home to village spend my money local 

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4 hours ago, Assurancetourix said:

I know it ..

 

A night shot ..and about " The half naked ladies ..." they are not far on the left side of your photo :cheesy:

 

1460048341_DSCN2820_Pattaya_La_Piscine(Copy).thumb.JPG.9b9939794016d93f5107c739eb4c8432.JPG

 

delicious pizza at the restaurant and not expensive ..:thumbsup:

Cheap enough hotel but to be honest who wants to spend a two week holiday on the dark side 

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8 minutes ago, pattayadave said:

Cheap enough hotel but to be honest who wants to spend a two week holiday on the dark side 

When we come down from our province, Sakon Nakhon, for a few days of vacation;
we often go to Pattaya because we have Thai and European friends there.
We do not spend 2 weeks but a few days and this hotel a little away from the hot area of Pattaya we like well; nice pool, cheap, good pizzas ... and easy parking for the truck.

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14 hours ago, Banana7 said:

spent the last week in 2 different resorts and numerous restaurants about 200 km south of Bangkok. These resorts (beach front) have rooms listed in the 3,000-4,000 baht per night range at popular websites like booking.com. I was able to get rooms for 2,000b per night by phoning the hotel directly. During my stays, I was the only patron in both resorts.

 

Next, I visited numerous restaurants, usually beach front, for lunch and dinner. All the restaurants had 40+ seats. In all of the restaurants, at most there were 5 patrons, including my GF and me. Several times, my GF and I were the only patrons. Talking to the owners, they said foreigners had not yet come this year.

 

14 hours ago, Banana7 said:

These are strong indicators that a financial crisis is beginning in Thailand.

 

Maybe in your eyes. What you have shown me is you know little to nothing about finance.  

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My personal opinion is that Thailand eventually wants to become financially independent from tourism altogether, and shed their international reputation as a haven for sex-pats and criminals. If you consider that, then their apparent disinterest in the decline of the tourism industry makes complete sense, and it also explains the ramping up of visa and immigration regulations.

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1 hour ago, jackdd said:

For people in Thailand who rely on tourists only the total number matters: [days spent in Thailand] multiplied by [money spent per day]

As the statistic shows Europeans and Americans spend 40% more per visit than Chinese

 

Why should we have to do this?

And even if we do this, western tourists (Europe + America) make up about 7.7 million tourists (according to the stastic which i referenced before). China about 9.8 million. So China has about 27% more visitors, but western tourists spend 40% more money. As we can see you are wrong, western tourists are still more relevant for Thailand's income compared to Chinese.

So you want to compare the number of visits from one continent against the number of visitors from two continents! If you want to combine America and Europe, hows about we group other Rest of East Asia or ASEAN and China! 

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13 hours ago, spidermike007 said:

The mistakes this administration has made are staggering. They have alot to account for, to both the Thai people and the ex-pat community. One can only hope the billionaire generals are held to account, one way or another,  once they are booted from power.

Name one military government that had a thriving economy?

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Is there is a "financial Crisis" I would think that the baht should get weak, however unfortunately it seems like the baht continue to get stronger...😧

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11 hours ago, spidermike007 said:

Plus, they could not get great wine

Your wealthy friends do not know alcohol is only available from 11am to 2pm and 5pm till midnight 🤪

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Thailand has long been plagued by a financial crisis, the government and the central bank keep it hidden and continue to keep the Baht artificially high so as to allow the rich and powerful to become even richer and make up for their losses financial in recent years!

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55 minutes ago, saengd said:

So you want to compare the number of visits from one continent against the number of visitors from two continents! If you want to combine America and Europe, hows about we group other Rest of East Asia or ASEAN and China! 

The number of people living in China is not much different to the number of people living in Europe + America

And as i said before, i have no idea why you want to discuss about this part, this has nothing do with my first post which you claimed to be wrong.

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16 hours ago, Banana7 said:

several friends in northern Thailand are reporting people are leaving big cities and returning to their home districts to take farm labour jobs. In past years, farm labourers were very difficult to find. Now there is a waiting list to get farm jobs.

I don't know if this is relevant, but the wife told me the other day that the labourers that usually do their rice fields want 400 baht per day, that's 100 baht per day up from the previous year, plus breakfast and lunch to be supplied, previously it was lunch only.

 

The above said, they brought in that rice tractor thingneemajig for less than it would cost to employ the labourers and it wasn't just her parents, the whole of the villagers, those that could afford to get the tractors in, used them, I was also told the tractors had dropped their prices by as much as 2,000 baht, so it would appear the people that usually do the rice labour are going to be out of pocket this year.

 

Just saying, but as for financial crisis, well the stock market looks as if it's due for a big correction and I am sitting on that fence, playing the waiting game. 

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14 hours ago, spidermike007 said:

Western tourism In Thailand has declined to a negligible number of tourists with real money to spend. This is having a dramatic impact on millions of Thai people. The low baht Chinese and Indians are providing the TAT with numbers but the quality of tourists has declined dramatically.  

 

The high baht is hurting exports and a worldwide correction is coming. This will affect a Thailand too. 

 

The mistakes this administration has made are staggering. They have alot to account for, to both the Thai people and the ex-pat community. One can only hope the billionaire generals are held to account, one way or another,  once they are booted from power. 

A list of the staggering mistakes would be interesting especially without hindsight

 

I'm not an apoplgiser for the government, just curious to see your take on it.

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