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Pattaya: Grim picture for future of resort as post pandemic optimism dries up

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2 hours ago, djuiiy said:

eh? I don't think u were following this thread...

1. i wasn't talking about people who are seperated in different countries, i was talking about expats based in pattaya.
2. me? no its not great for me at all. I wanted to get out my expensive rented room in england, put all my stuff in storage and spend the summer and maybe the autumn in thailand and vietnam. Never had chance to live abroad other than short holidays so was really excited about it. Of course, by sod's law, the people who control the world economy saw i was about to have the best 6 months of my life so they shut down international travel to the most severe extent in 75 years. It was my fault getting my hopes up that caused the covid travesty.

Oh, my apologies fella, think I got my posts mixed up. Sorry to hear your plans have been affected.

 

 

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2 hours ago, impulse said:

 

But is that because there's been a decline in tourists, or because it's been overbuilt, with so much cut throat competition that nobody can make money?

 

Pick one, and you will be right, amongst many other reasons. 

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1 hour ago, Raphus said:

Thailand is doomed

i shall keep saying it every day when I see these stories.

i have said it since June. But now it is really starting to show.

90%.  That is how many people lose money investing in the stock market, or buying property in Thailand.  The uneducated herd is always wrong, that is why they get eaten.  Moo?

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The real estate in Pattaya and Jomtien will soon be almost worthless unless the Covid situation clears soon. Think of the huge numbers of people who invested their savings in condos and smaller businesses. For years and decades such investment was considered relatively secure. The banks and financial systems are maybe

ok for the moment, but many loans will turn from good to bad. Then the banks could collapse unless bailed out by government. However, such bailouts are usually done by ways of loans from the IMF, which may not be readily available right now. Pattaya has most likely seen the last of its golden years. 

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1 hour ago, newnative said:

   Yes, some western tourism businesses, which you likely had, were suffering pre-covid in Pattaya.  Possibly more a case of too many new western businesses opening to be supported by the number of western tourists.  A western tourist business failing, however, does not mean that Pattaya was failing pre-covid.  It certainly was not.  One western business closing was replaced by numerous new businesses catering to all the new Asian tourists, including domestic Thais.  I think if you go back to your post and insert the word 'western' in front of every use of the word 'business' you'll get a more accurate take on things.  

   Terminal 21 opening was a big draw for northern Pattaya, attracting lots of the new tourists to that area, Wongamat, and Naklua. Large, new hotels such as Mytt, Brighton, Grande Centre Point, [email protected], and Grand Palazzo, along with new, smaller boutique hotels such as LK Emerald Beach, opened to help Amari, Dusit, Holiday Inn and the many others handle all the new tourists wanting to be in that area.  Some businesses in now less popular areas likely may have suffered--again, that does not mean Pattaya was suffering.  It's natural for areas of any city to gain and lose popularity as demographics change; just as it's natural for some businesses to close and others to open.  

No, sorry, I was mainly working with Thai's. The Thai people have been suffering a long time. My business has nothing to do with tourism, i don't own a bar or anything like that. Business is bad in Pattaya, less tourism means many people have less money which affects their spending power on other things, you are working on your observations of terminal 21 and such but remember these things are signed off a decade before they actually happen. Pattaya is suffering, I mean no offence but either you are mistaken or in denial. I was doing some business with a builders merchant in Pattaya, a very big one, they told me very openly business was the worst they had seen it in over 10 years. I have quite a few examples of different businesses that are not directly targeted at tourists who are having a terrible time, one a very wealthy Thai factory owner who sold to businesses in Pattaya. Pattaya is not doing well.

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15 hours ago, chrisandsu said:

A lot of people’s life savings are going up in smoke . It’s almost like the banks are waiting to take property and goods and will only be too happy to reset everybody to zero so they can come back to the banks and get even more debt to start up again. None of this makes any sense !

Yup...all part of the "great reset" worldwide!!!!

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15 hours ago, chrisandsu said:

Indentured servitude is on its way . You are most likely right that banks are going to fail but I’m sure there are some financial institutes that are going to prosper . I said it 6 months ago that the fall out will kill more people then the actual virus . I get no pleasure in being right 

Worldwide feudalism on the way!!!

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2 hours ago, Nichada Nick said:

I have lived, worked, married, and recently retired in Thailand, after arriving in Hua Hin in 1990, and since then have listened to many whispered warnings from insiders within various influential groups claiming that eventually Pattaya would be "cleaned up", with all undesirables exported and deported back to their own countries so that the city could be converted into a clean, sanitized and safe weekend playground for Thais only. I never really paid much attention to these "Chinese whispers" and yet here we are are witnessing the self destruction of a city that once employed tens of thousands of decent, hardworking Thais, whose families are now becoming destitute and desperate. What a pity, what a shame, they deserve better.       

very interesting, have no idea how much truth is in it but it would not surprise me in Thailand.. I would even say it could be a Thai - Chinese conspiracy. Trash the property market, kill the economy, Chinese cash buys up all the real estate and owns it's own piece of Thailand,, similar to what they have done in Cambodia.. it does fit but I am generally not a fan of conspiracy theories.

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13 hours ago, overherebc said:

People don't believe me when I say the reason I never had or wanted kids, ex was of the same mind, because I really didn't want to bring kids into this world and I'm talking about 40+ years ago. The mess this world is in now has, for me anyway, proved I'm right.

Over populated, over polluted and heading for deep doo-doo in a hand cart. All countries in the same cart.

You Sir, have fallen for ((their)) scam!!...watch the video 'Century of the Self' and get back to me...

i can relate to your thinking because i too was a victim, having gone thru school and university in the 60s and early 70s...

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24 minutes ago, GAZZPA said:

very interesting, have no idea how much truth is in it but it would not surprise me in Thailand.. I would even say it could be a Thai - Chinese conspiracy. Trash the property market, kill the economy, Chinese cash buys up all the real estate and owns it's own piece of Thailand,, similar to what they have done in Cambodia.. it does fit but I am generally not a fan of conspiracy theories.

Same could be said of Chiang Mai..kill it, then buy it all for peanuts..they have already killed it...

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15 hours ago, Scooby and Puppy said:

To Pattaya farangs...

Are the Malls, like Mike Mall, still up and running? Or is it a complete ghost town?

We like to pop down for 4 or 5 days now and again from Korat city for a little break. But haven't been down there since January. Is it still worth a 4 hour drive down, or not?

I always read about the doom and gloom, but is it completely wiped out?

Asking for a friend...😂😂.

Shouldnt it be "Scooby and Scrappy"?..noy puppy?....asking for a friend......will refund you scooby snax

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Buckering posts have been removed. Time to stop gentlemen.

 

An off topic post has also been removed.

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6 hours ago, rexall said:

Why on earth would an owner do that unless he expected that he could find a new, full-paying tenant, or if he  had some other plans for the property?  Makes no sense.

You'd have to wonder how people this stupid can ever get together a deposit to buy a property. Maybe he inherited the money. These idiots have no hope of finding new tenants for a very long time or never as there is already a huge glut of empty commercial property and tourists in any decent number could be years off. He was getting 70% rent, which was far too much considering the circumstances... but he prefers no rent, or any hope of getting any.

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1 hour ago, Eddy Ozark said:

The real estate in Pattaya and Jomtien will soon be almost worthless unless the Covid situation clears soon.

 

That, would be a golden buying opportunity.  Genaral purpose land has been selling a ~4M/Rai.  Ouch.

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1 hour ago, SiSePuede419 said:

Post pandemic?

 

Only after Donald J. Trump is carried out of the White House.

 

Either in handcuffs or a pinewood box.

 

And even then it'll take months to comeback. 👈

There's a long list of Democrats that need to be gone first.

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