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


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7 hours ago, jacko45k said:

A bit harsh.....

It is all sad really.... but I share your lack of sympathy for the property owners who will not give businesses a break on exorbitant rents.

That depends if the  owners  have  borrowed to finance the property, pretty  sure the banks wont let them skip payments

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Most people with loans don't own anything for the banks to take. IMHO Banks are just as likely to fail as any other business. I really don't expect tourism to be profitable again in the near

If I was the Economics or Finance Minister of Thailand I would have trouble sleeping at night.   In my mind would be graphs of the rise in debt---corporate and household---over the last ten

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

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2 minutes ago, bodga said:

That depends if the  owners  have  borrowed to finance the property, pretty  sure the banks wont let them skip payments

A lot of long term owners in Pattaya.... they may have borrowed against the land but they are real wealthy. 

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6 hours ago, Scooby and Puppy said:

I wonder if the golf courses will lower their green fees?  Does anyone know? Compared to Korat area, Pattaya golf is expensive even for average courses.. 

As for bars, clubs etc., I feel sorry for the workers, for sure, but i don't miss the scams they try on tourists when everything is rosy. Because there was always another mug to rip off coming along. But now there isn't. 
I believe westerners won't return in such large numbers when it starts to recover. It's just too expensive compared to up and coming rivals like  Vietnam, Cambodia, even Philippines.


 

 

What no scams in the Philippines, or any where else.

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4 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.

I think I recognize you as the bloke with the sandwich board 'The end is nigh !' 😂 

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So how many real corona deads did thailand have to install this disastrous lockdown with all consequenses of it?

 

I'm not talking about infections but how many deads from infections.....

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Next year March 2021 maybe if a vaccine is ready and no mandatory quarantine. Who wants to travel anyway. One country is Covid free and others are not.  PPP... Perfect Ping Pong effect 😁

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1 hour ago, Kaopad999 said:

Tourism as we once knew it was already on the decline before this Covid situation. So, even if it bounces back to some sort of "normality", it still won't be enough to bring it back to how it used to be.

Sadly, the majority of these businesses were already set to fail, but the current situation has just sped up the process. 
Thailand has been undergoing a massive change for the past 4-5 years and will continue to do so, with or without Covid. 
 

    Nonsense.  Tourism was booming pre-covid--just not, as you say, the 'tourism as we once knew it'.  Meaning, western tourism.   And, apparently western tourism is the only tourism that actually counts as tourism with some posters.  But, even if western tourism was somewhat in decline, it was easily made up for, and then some, by the huge numbers of Asian tourists, and not just the Chinese.

   You are right, though, that some businesses in oversupply catering solely to western tourists likely were failing--supply and demand sorting things out.  A western bar closes and two Asian karaoke bars open.  Never mind the two new business openings catering to Asians; only the western bar closing is noticed, which is then immediately interpreted as tourism dying.  

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6 minutes ago, newnative said:

    Nonsense.  Tourism was booming pre-covid--just not, as you say, the 'tourism as we once knew it'.  Meaning, western tourism.   And, apparently western tourism is the only tourism that actually counts as tourism with some posters.  But, even if western tourism was somewhat in decline, it was easily made up for, and then some, by the huge numbers of Asian tourists, and not just the Chinese.

   You are right, though, that some businesses in oversupply catering solely to western tourists likely were failing--supply and demand sorting things out.  A western bar closes and two Asian karaoke bars open.  Never mind the two new business openings catering to Asians; only the western bar closing is noticed, which is then immediately interpreted as tourism dying.  

73.98% from Asian countries not inc India, 78.36% inc India. And all of those countries are locked in. China being the biggest with 57.48% and they are definitely not going anywhere for a long time.

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32 minutes ago, moe666 said:

What no scams in the Philippines, or any where else.

Neither of which is in Pattaya! That is the topic.

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