I'm trying to prepare for what may be ahead. However, I found few first-hand accounts online of what everyday life was like for expats during that time (aside from high-level economic analysis).
What was it like living in Thailand (as a retiree, business owner, or long-stay expat) after the 1997 economic crash? What might current foreign residents expect if the economy crashes?
Aside from a weaker baht (and more favorable exchange rates), what were the pros, cons, upsides, and downsides for expats who lived through the crisis? Will rental rates come down? Did crime rates go up? Did the cost of living for expats (who earn and remit money from outside Thailand), get easier, or were there other financial challenges for foreigners, even those who were not earning money inside Thailand?
Were there opportunities (during the downturn) to start and run a business in Thailand? Did the weaker baht lend itself to starting an export business, for example?
In short, it would be great to see how the last crisis played out to help expats strategically prepare. How can foreign residents protect themselves and seize opportunities, based on what we saw in 1997?