khunPer

He is a frontline medical worker, and half of the US-donated Pfizer vaccines will be used as boosters for frontline medical workers, who got two jabs of Sinovac that gives less protection against the Covid-variants. It makes good sense to keep the frontline medical workers Covid-free, they are very needed for the society.

85 percent is the same they now talk about in Europe, as the vaccines don't give 100% immunity. And as it's 85 percent of the total population, children down to 12 year needs is included, i.e. almost 100 percent of everybody that are 12 years and older needs to be vaccinated.

In a way I'm surprised over how much attention the Sandbox-project gets - it must also have costed a bit of money to reach the status where it is now - approx 14,000 arrivals in a month, of which some might not at all be tourists, and a turnover of estimated 1 billion baht so far, of which 800 million were the figure from the first month. There came 7.6 million tourists to Phuket in 2018, which are in average 633,000 each month, so 14,000 is around two percent of "normal"; 2.21 percent to be precise. Each arrival is "worth" circa 57,000 baht (i.e. 800 million divided with 14,000 arrivals).

The estimate of 100,000 tourists in total from July till September, "and a total revenue target of 8.9 billion baht in the same period", equals an average of 89,000 baht per person. Earlier I read an estimate of 120,000 arrivals in several news articles, but even with the new total of 100,000 it's another 86,000 arrivals, or 43,000 each month, in August and September.

I compare this with the low interest for the relative high number of expats living in Thailand with a life-style based on money coming in from abroad. Numerous of those being married to a Thai must be retirees in one or other way, so they are not working, and therefore each bringing around 400,000 baht into the country, if using the official minimum "rate", which in real-life average might be in the low end. And a number of expats are staying on retirement conditions, who in average use their 800,000 baht per year, probably more.

Those expats that settled and started a business in Thailand also brought funds in for their initial investment, but they most likely don't import money every month, when having a "successful business in Thailand".

To my knowledge we don't have any official statistics on the expat-numbers, but I know of a 2010-study form Mahidol University, which concluded that there were 2,581,141 foreigners living in Thailand, and when disregarding South East Asians, i.e. numerous migrants workers, about 720.000 were so-called "expats". The major groups were 141,000 Chinese, 85,000 Brits, 80,000 Japanese, 46,000 Indians, 40,000 Americans, 24,000 Germans, and 23,000 French.

The financial magazine Bloomberg reported that in 2018 there were issued 80,000 retirement visas (? -or perhaps combined with extensions of stay based on retirement?), where Brits counted for 16 percent, Americans for 12 percent, Germans for 9 percent, Chinese for 7 percent, and Swiss for 6 percent.

Elite Card had 8,602 cardholders in 2019, they are said to have increased a relative lot during the pandemic, but the number of people is small, compared to above estimates.

Now, lets just take the approx 80,000 people known to stay on retirement conditions. If they in average each brings 800,000 baht into the country, then we are talking about 64 billion baht "turnover" - it's 64 times as much as so far generated from the Sandbox, but those foreigners and their money don't get much attention. Compare that to the estimated "dream" of 100,000 Sandbox-arrivals and 8.9 billion baht.

A number of retirees have brought money in to buy property, one or other way, and it's my impression that when we talk "retirement extension" the average consumption is higher than 800,000 baht a year, an average around a million baht would be more realistic.

So out of the 720,000 estimated in the 2010-study, there would be around 640,000 foreigners staying under other conditions, of which at least some don't work and "import money", and quite a number also "invest" in property. Unfortunately it can only be a guess, but I would think that at least an equal number of expats staying based on marriage with a Thai, as the number on expats staying based on retirement - probably more - are retirees that in average brings in their 400,000 baht per year. That would be at least another 32 billion baht per year.

My point is that the non-working expat group actually is of quite some financial importance for the Kingdom, at least 100 times more worth than a month of Phuket Sandbox, and more than 10 times worth the whole three-month Sandbox-dream.

Perhaps the nation should care little more about that group, for example making it a bit more attractive, and less complicated for "quality"-long-staying expats, to be "retired in amazing Thailand" - also when based on marriage - there are probably a huge lot more potential in the average 800,000 baht group, than the millions of filthy wealthy "quality-retirees" somebody in the government seems to dream about.

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Just a note about my opinion about investing in Thai property.

You can legally only own condos, and it might take time to sell if you wish to opt out, you might even loose a part of the "investment", if you haven't owned the property for some time, or if it's not placed in an attractive area; and it can sometimes take long time to sell.

Gaining net 6 percent per year in the hand might not be as easy as some advertise it. 

When investing in stocks - and that counts for anywhere - it only require a click with a mouse to opt out - in case of the investment become unattractive - and you can have cash in your bank account within a few days.

Investing in foreign property might be difficult to handle, when you don't live there, and taxation need to be carefully considered, depending of country. Also foreign property can be difficult to sell with profit, if you need, or wish, to opt out.