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Channel 7 report: No tourists and desperate times for vendors/ hotels in Pattaya


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4 hours ago, johng said:

Yes just the other day  it was said that Thai tourist had  booked 80-100 % of 3-5 star hotels in Hua Hin

@ prices 3,000 baht up per night....but that the guest houses and budget hotels where almost empty ?

doesn't make sense to me  surely people with no income for months on end..or a measly handout of 5,000 baht per month would be staying at the cheaper accommodation.

Saying that there where a hell of a lot of Bangkok plated vehicles along Jomtien beach road and clogging everywhere else up during those 4 days "holiday" 

( on top of the months of shutdown where do they get the money from ?)

Banks

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and why should they with the way they have been treated over the last 30 years? They have been scammed one too many times and are booking their 40 quid flights to Spain instead.   I can

The people on the 5k a month handout are not the ones taking holidays and filling the 3-5 star hotels, it's the other segment of Thai society, the middle classes who would normally have gone overseas,

Was speaking to a Thai friend of mine recently and she said "the economy will recover soon because everyone wants to visit Thailand". Had a bit of a laugh at that and chatted about how expensive Thail

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18 minutes ago, Trillian said:

Yep, they certainly are the ones who are carrying a large chunk of that debt. But what if, just what if....they can actually afford to service that debt.

 

So AEON is expecting a surge in borrowing, tell me, if you were a lender in these uncertain times would you allow your lending to surge on unsecured loans? No I didn't think so, which is why AEON won't either.

AEON are not expecting any surge in borrowing at all.

They are expecting a huge rise in NPL and delinquent Accounts.

Yesterday they set off a huge amount of their profit to offset this, and yes, the present debt levels of Thai Middle Classes may be serviceable, but if the likes of AEON shut the Credit stream, then those debts will surely go bad, as they are borrowing to pay existing debt.

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1 minute ago, Cake Monster said:

AEON are not expecting any surge in borrowing at all.

They are expecting a huge rise in NPL and delinquent Accounts.

Yesterday they set off a huge amount of their profit to offset this, and yes, the present debt levels of Thai Middle Classes may be serviceable, but if the likes of AEON shut the Credit stream, then those debts will surely go bad, as they are borrowing to pay existing debt.

Every lender in the country has increased their bad debt provisions, plus BOT increased the capital adequacy ratio's. As of the last quarterly report published mid-May 202, BOT reported:

 

"Capital Fund of the Thai banking system was at 2,836 billion baht, equivalent to capital adequacy ratio (BIS ratio) of 18.7%. Loan loss provision remained high at 719.2 billion baht with NPL coverage ratio of 143.3%. Liquidity coverage ratio (LCR) registered at 185.7%."

 

https://www.bot.or.th/English/PressandSpeeches/Press/2020/Pages/n2663.aspx

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4 hours ago, Liverpoolfan said:

and why should they with the way they have been treated over the last 30 years?

They have been scammed one too many times and are booking their 40 quid flights to Spain instead.

 

I can't say I blame them!

It might also have something to do with no foreign tourists being allowed into the country at this point.

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5 minutes ago, Bangkok Barry said:

But I've known several Thais who have gone to live in Europe for one reason or another. Not one, not one, wants to return to live in Thailand, now that their eyes have been opened to what the real world is like. One married a German and said that when he died she would come back. Seven years after he died she's still there.

Do these Thai's work, pay taxes, pay rent, pay their bills, pay a mortgage, obey all the western bureaucracy etc etc?

 

Easy to move to a foreign country when everything is on a platter for you.   

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After reading about the numbers of local tourists visiting Pattaya last weekend holiday

The number of hotels saying how booked they were plus restaurants full as well

Who needs foreign tourists 

Just announce a special holiday people will flock to the tourist resorts 

Cant see foreign tourists coming this year  with all the quarantine  messages getting sent out

 

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4 hours ago, samsensam said:

 

every country has to strike the fine balance between protecting their healthcare service and sustaining/recovering their economy. many european countries have decided, on the balance of things, long term economic survival is the priority. the thai government prefers to protect its healthcare system and, as they see it, keep their population 'safe'. (kind of ironic considering the death toll on the roads that goes unaddressed year after year, but thats another debate.)

 

They've not done much about Dengue fever either. Up to the middle of May nearly 15,000 have contracted that disease. 

 

They've not done much about road accidents either. 

 

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