ASEAN NOW Sales Posted November 30, 2019 Share Posted November 30, 2019 Thais are Getting Thriftier Says Poll Thais are spending less than usual, according to a recent poll by Suan Dusit Rajabhat University. The poll asked 1,174 people about their spending habits, of which around 70% stated they’ve cut back on leisure spend, around 40% said they are cooking at home more, around 23% plan their budgets, around 21% try to buy only at sales and around 20% are taking on extra jobs. When asked about how they are saving on food, clothing, accommodation and healthcare, the participants gave further insights into their budget strategies. Regarding food, around 63% said they are eating out less and trying to cook at home more, 38% said they are limiting meal costs, and around 24% said they are only eating as much as necessary and storing leftovers for later consumption. Regarding accommodation, around 66% said they try to use the minimum water and electricity, around 39% perform home maintenance themselves, and around 16% rent or share cheap accommodation. Regarding clothing, around 54% said they shop less and try to buy clothes only during sales, around 40% said they try to make their clothes last longer or share clothes with others, and around 17% said they wear used clothes. Regarding healthcare, around 60% said they do frequent exercise and get annual check ups, around 33% said they rely on welfare or social security, and around 28% said they eat a balanced diet. When asked what costs they consider mandatory, the participants again gave further insights into their spending habits. Around 64% said transport, around 51% said healthcare, around 25% said loans, around 21% said their children’s education, and 19% said important life events for family and friends. It’s not clear why Thais are spending less than usual but reluctance to release disposable income is a cause and a symptom of a recession. Perhaps the strong baht and declining tourist trade are contributing factors but it would be difficult to point out one single cause without exhaustive research. Hopefully the Bank of Thailand’s efforts to address current economic trends will help stimulate the release of more disposable income. This post cites the following sources: Bangkok Post, Chiang Rai Times, and The Thaiger, as well as the poll conducted by Suan Dusit Rajabhat University. This post is brought to you by DeeMoney, Thailand’s payment provider. Exchange and send money to 14 countries, register via our app, website or in store. DeeMoney currently has four Bangkok-based currency exchanges but more are on the horizon. Send money to Australia, Bangladesh, Cambodia, China, India, Indonesia, Malaysia, Myanmar, Nepal, Pakistan, Philippines, Singapore, Sri Lanka, and Vietnam from just 150 baht per transaction plus a foreign exchange fee. DeeMoney serves as a hybrid solution that’s similar to both Transferwise and Western Union, yet distinguishable from both. Whilst TransferWise offers only digital transfers, and WesternUnion mainly cash transfers, DeeMoney is Thailand’s only service to provide both means of transferring money. Link to comment Share on other sites More sharing options...
Snuller21 Posted November 30, 2019 Share Posted November 30, 2019 That is probably why the household debt are risen by 7.4%. For sure they spend less with that risen debt. Guessing the Fake News Agency are needed her again. Link to comment Share on other sites More sharing options...
alexth Posted November 30, 2019 Share Posted November 30, 2019 Send Prayut and his accomplices and bosses to jail and problem solved. Link to comment Share on other sites More sharing options...
akampa Posted November 30, 2019 Share Posted November 30, 2019 40 minutes ago, alexth said: Send Prayut and his accomplices and bosses to jail and problem solved. Slowly, but only slowly, there is emerging an understanding that perhaps politicians are not the most intelligent people to handle the planet Earth and our future, that possibly they are the real danger to our survival on this planet Link to comment Share on other sites More sharing options...
elliss Posted November 30, 2019 Share Posted November 30, 2019 4 hours ago, alexth said: Send Prayut and his accomplices and bosses to jail and problem solved. Tut tut , they are a democratically elected Goverment .. Link to comment Share on other sites More sharing options...
uncleeagle Posted November 30, 2019 Share Posted November 30, 2019 4 hours ago, akampa said: Slowly, but only slowly, there is emerging an understanding that perhaps politicians are not the most intelligent people to handle the planet Earth and our future, that possibly they are the real danger to our survival on this planet depends on the politicians...the current ones seem hell bent on destroying the livelihood of ordinary people Link to comment Share on other sites More sharing options...
nong38 Posted November 30, 2019 Share Posted November 30, 2019 A still tongue makes for a happy life, one of the mantras of Thai education ( its not on the curriculum by the way and neither can they speel curriculum ). Link to comment Share on other sites More sharing options...
Denim Posted November 30, 2019 Share Posted November 30, 2019 Need new stimulus promotion from Junta to wipe out any meagre savings the peasants have. How about : Shop , Eat , get drunk , fornicate , buy new Honda Wave , buy lottery tickets, donate to temple , get drunk again , buy medicine , go hospital. If that package fails to boost the economy fall back on selling high interest cheap bonds to the Chinese , sack all teflers and promote Mandarin as the second language. Posted in jest but could resemble the future to an alarming degree if the current government remains in power. Link to comment Share on other sites More sharing options...
donnacha Posted November 30, 2019 Share Posted November 30, 2019 Don't worry. The Indians are coming. Link to comment Share on other sites More sharing options...
RichardColeman Posted November 30, 2019 Share Posted November 30, 2019 13 hours ago, ThaivisaSales said: It’s not clear why Thais are spending less than usual but reluctance to release disposable income is a cause and a symptom of a recession. Sheesh, and I thought my education was not the greatest ! Link to comment Share on other sites More sharing options...
Frankie072 Posted December 2, 2019 Share Posted December 2, 2019 Thai economic statistics are false. In reality the Thai economy is very weak with much higher unemployment than is being reported, so people are hanging onto their money. Link to comment Share on other sites More sharing options...
BestB Posted December 2, 2019 Share Posted December 2, 2019 On 11/30/2019 at 3:50 PM, Snuller21 said: That is probably why the household debt are risen by 7.4%. For sure they spend less with that risen debt. Guessing the Fake News Agency are needed her again. They spending less because they have no money to spend and are borrowed up to the max, nothing to do with smartening up. my possible gf, has juice wholesale business., she said profits have halved since the new government costs remained the same if not higher but profits halved. How you expect her to spend ????? Link to comment Share on other sites More sharing options...
Destiny1990 Posted December 3, 2019 Share Posted December 3, 2019 Its like throwing a person in the deep water that can’t swim and then hoping that he will not drown. Link to comment Share on other sites More sharing options...
Darkside Gray Posted December 3, 2019 Share Posted December 3, 2019 Wish mine was! Link to comment Share on other sites More sharing options...
GarryP Posted December 3, 2019 Share Posted December 3, 2019 "around 23% plan their budgets" To me this speaks volumes about the debt problems. Don't the average Thais normally budget their expenses. For me this is a habit. Something I have done since I started working for a living. I know how much I have available each month, what payments are due, how much I can spend on entertainment, how much I will put away as savings, etc. Surely everyone who is working and living off a wage or a salary needs to budget. It is common sense. Link to comment Share on other sites More sharing options...
dimitriv Posted December 3, 2019 Share Posted December 3, 2019 21 hours ago, Frankie072 said: Thai economic statistics are false. In reality the Thai economy is very weak with much higher unemployment than is being reported, so people are hanging onto their money. I never really understood this. Official unemployment is just 1% ? And they worry about foreigners working in Thailand. Link to comment Share on other sites More sharing options...
soalbundy Posted December 3, 2019 Share Posted December 3, 2019 On 11/30/2019 at 9:29 PM, nong38 said: A still tongue makes for a happy life, one of the mantras of Thai education ( its not on the curriculum by the way and neither can they speel curriculum ). speel ? Link to comment Share on other sites More sharing options...
GarryP Posted December 3, 2019 Share Posted December 3, 2019 On 11/30/2019 at 9:29 PM, nong38 said: A still tongue makes for a happy life, one of the mantras of Thai education ( its not on the curriculum by the way and neither can they speel curriculum ). Most women would probably not agree with that. Nothing more pleasing than an active tongue. Link to comment Share on other sites More sharing options...
30la Posted December 3, 2019 Share Posted December 3, 2019 Why don't you pass these numbers to the military government? Certainly you must also explain that these are the answers of people who find themselves in the situation of having to calculate what they can spend daily! The general will reply that your dates are not true because the economy is in an absolute increase! Link to comment Share on other sites More sharing options...
legend49 Posted December 6, 2019 Share Posted December 6, 2019 The poll asked 1,174 people about their spending habits, out of a population of over 65 million! A significant a figure is 1100 people LOL as to the number of pigeons crapping on my roof every day. Link to comment Share on other sites More sharing options...
atyclb Posted December 6, 2019 Share Posted December 6, 2019 last week saturday night which normally is "primetime" especially in december, a big chang beer sponsored outdoor event, beer garden/concert at "the street mall" bangkok was nearly empty. Link to comment Share on other sites More sharing options...
kingstonkid Posted December 6, 2019 Share Posted December 6, 2019 On 12/3/2019 at 4:34 PM, GarryP said: "around 23% plan their budgets" To me this speaks volumes about the debt problems. Don't the average Thais normally budget their expenses. For me this is a habit. Something I have done since I started working for a living. I know how much I have available each month, what payments are due, how much I can spend on entertainment, how much I will put away as savings, etc. Surely everyone who is working and living off a wage or a salary needs to budget. It is common sense. It may be common sense but it is something that most people don't know how to do in any country. Credit cards and credit have become too easy to get and all people look at is how much they can buy and not the interest. Government spending initiative to help businesses are going to help businesses but hurt people. Students in matayom need to get a course in financial management before they get to mat 5 so they can understand what the education system in University is going to cost them Link to comment Share on other sites More sharing options...
BritManToo Posted December 6, 2019 Share Posted December 6, 2019 In a recession, everybody spends less, and as a result half the existing businesses fail. Link to comment Share on other sites More sharing options...
worgeordie Posted December 6, 2019 Share Posted December 6, 2019 Just wait till they get the 6 Thb pay rise, they won't know wether to save it , or spend,spend ,spend,???? regards worgeordie Link to comment Share on other sites More sharing options...
Aussieroaming Posted December 6, 2019 Share Posted December 6, 2019 My wife couldn't possibly get any thriftier, even her mum calls her cheap charlie. Link to comment Share on other sites More sharing options...
geisha Posted December 9, 2019 Share Posted December 9, 2019 Went to Central Festival Pattaya yesterday afternoon. Sunday. High season. It was quiet everywhere, the shops, the restaurants . Had a look in my usual spa shop which was generally full and needing to queue , empty. No queue either at Starbucks. Even the baht buses were not forcing people to squash on. Back to Jomtien, apart from a crowd around the jet ski championships and night market where the few tourists seem to eat, it’s dead. The Boathouse empty, my usual haunt which is always full empty too. Thais are worried. The Christmas week will soon be here, and will tell us if it’s going to be a good, or dangerously low , high season. Link to comment Share on other sites More sharing options...
30la Posted December 9, 2019 Share Posted December 9, 2019 On 11/30/2019 at 10:24 AM, ThaivisaSales said: around 40% said they are cooking at home more So who uses all the home food services in Grab, Pandafood and so on ...? Here, (not a tourist destination) the scooters of the two services listed above are increasing day by day! Link to comment Share on other sites More sharing options...
Krataiboy Posted December 9, 2019 Share Posted December 9, 2019 On 11/30/2019 at 11:20 PM, donnacha said: Don't worry. The Indians are coming. The cowboys who run the jetski boats will be pleased about that. Link to comment Share on other sites More sharing options...
Laza 45 Posted December 9, 2019 Share Posted December 9, 2019 They are going to get a 6 Bt a day pay rise.. that should turn things around... Link to comment Share on other sites More sharing options...
Isaan sailor Posted December 9, 2019 Share Posted December 9, 2019 As the Baht advances—it hurts more and more people. Factories downsize, exports diminish, tourism shrinks, and the SET closes in the red more and more. “It’s the economy, stupid!” former US President Bill Clinton, commenting on a collapsing economy. Link to comment Share on other sites More sharing options...
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