nigelforbes

The big difference of course is that in the US, owner financing is regulated and an accepted part of real estate lending which is heavily regulated and policed. Here, a person would be taking the lenders word for things and there would be no security whatsoever.

In mid year 2022, BOI announced (link below) they had received 784 applications for FDI projects valued at 219 billion Baht. Above, at 11 months, 530 projects valued at 112 million baht were approved. Presumably, the total number of application received during the full year was about double those in the first half, around 400 billion baht in value? Yet only 112 million baht in value was approved during the full year. I wonder what that story is all about? Perhaps somebody who has had their coffee can work this out and let us know. Regardless, main applicants were from Taiwan at 30%, followed by Japan, China, the US and Singapore. https://www.boi.go.th/index.php?page=press_releases_detail&topic_id=132718&language=en

I take it that was a young versus old remark....OK! Well, I agree that nobody should ride a motorbike competitively and carelessly in Thailand regardless of whether they are young or old. The one saving grace however is that at least if the old guys wipe out as a result, they at least have had 60+ years to enjoy their lives, unlike the 20 something year olds who will have fallen way too early, and that's truly a shame.

Your choice of export figures for 2022 do not reflect the true exports ranking amongst AEAN members pre-covid. I agree that Thailand has been slow to ramp up exports post covid, perhaps this is a reflection of the steps they took to protect their population during the pandemic, versus those taken by other countries. Linked below is the ASEAN statistical year book 2020 showing exports by ASEAN member state for the ten years prior to covid. As can be seen on page 71, table 5.1, Thailand exports have been consistently in the top three exporting countries. Exports since the pandemic remain lower than regional peers because Thailand's second largest trading partner, China, remains closed. As a consequence, the country comparison of exports you posted is massively distorted and does not reflect anything close to a normal trading environment. I wrote earlier that, "if other exports would have held up to the same level as before, the 11% of GDP that is international tourism wouldn't have been that greatly missed", I DID NOT "argue" or even imply that Thailand doesn't need International tourism, as you stated when you partially quoted me! My statement holds true and the ASEAN export statistics confirm that is true, pre-covid. Exactly what the picture may look like going forward, in say a years time when things become more normalized, I would not like to guess. https://www.aseanstats.org/publication/asyb_2020/ With regard to the composition of GDP, : Thai GDP comprises "exports" and it comprises "goods and services". "The Services Sector" comprises a variety of sub-headings from motorbike repair to tourism related activities, both domestic and international in nature. Thai GDP does not however contain a heading called, "Export of Goods and Services" (that also contains tourism) although data under such a heading can easily be formulated. I attach a link to The World Bank's Metadata Glossary which defines various terms. It refers to Tourism as comprising Goods and Services but, "their share in exports is calculated as a ratio to Exports of Goods and Services". From a purely structural point of view in economics terms, Exports comprise Goods and Services whereas Tourism is sufficiently important to where it occupies its own separate classification. Within that heading a a further sub-division of International and Domestic. https://databank.worldbank.org/metadataglossary/world-development-indicators/series/ST.INT.RCPT.XP.ZS Lastly, you wrote, "The notion that Thailand only wants triple AAA tourists is unachievable at the moment, and TAT knows it (hence no material policy to expel "the backpackers"). I agree completely and have never suggested otherwise.

But the concept and the principle remain the same, higher value spenders and a better reputation which attracts other bigger spenders. Again, this is not to say that the sort of people you outlined would be rejected at airport Immigration. But the direction is clear and they have come right out and said what it is, the ratio of wealthy travelers to backpacker travelers needs to be changed. If you were in Thailand during the 1990's you would understand the contrast with what exists today, that change is happening but it is not happening very quickly.

Some of it is image and a desire to escape the low spending reputation that Thailand has had in the past. Pattaya is a good example, when Thaksin (?) was busy creating zones for bars in Bangkok and elsewhere, Pattaya, the one place that had a seriously bad image, escaped any zoning controls. The reason for that was that the Pattaya City Council had a development plan to lift the city up and make it a more upmarket destination. Twenty years on, the reputation and the reality of Pattaya is very different from what it was pre 2000. Terminal 21, Cent Fest., Bali Hi plus many more upmarket hotels along with the closure of bar beer complexes has turned Pattaya into a much more upmarket tourist destination than it ever was before. So, will Pattaya still accept budget hotel staying mongers, yes. Do they really want them, no, even if they are free extra revenue. The higher the average or median tourist spend per day becomes, the more likely it is that will attract additional above average spenders. The lower that average spend becomes, the worse the perception of the destination becomes.

Firstly, tourism is indeed an export although not of services. In the case of tourism it is the holiday experience that is exported and is simply an export in its own right. Goods and Services represent a different part of the exports bucket. Different nationalities do indeed have signs over their heads, each one representing their spending worth. Do you really believe that any country like Thailand really just wants tourists from anywhere, of any age and wealth bracket? Of course they will take them if they come because they represent quick and easy wins,. Do they want them and do they target everyone, of course not. The Chinese tourist is a good example. There are plenty of high value high spending Chinese tourist who stay in 5 stars and spends lots of money, they are the target of various TAT campaigns. Unfortunately, they also have to accept the tour groups who spend little and who are frequently the subject of campaigns against zero dollar tours.

The point is that there's an average spend per day by each nationality and these figures are well known by TAT et al. If tourists, be they backpackers or others, don't spend at that average rate, or worse, they spend at a much lower rate, they are far from desirable in economic terms, which is what this is all about.

I'm being semi jocular on this point but it's worth pointing out that both the SSc and NI systems are ponzi schemes that rely on subsequent generations to contribute even greater amounts. There's no mystery or secret about this, an ageing population, low birth rates and lower than expected rates of employment have contributed to the reasons why the system of health care is broken.

An interesting breakdown of expenditure by different nationalities visiting Thailand, rated in Baht per day. https://www.thaiwebsites.com/tourism-income-Thailand.asp

I'll take that as a play on words, Ramble On is indeed an excellent song.

Man buns, elephant pants, er let me see, veganism, lack of creativity when it comes to music, is that enough for now.

The Thai economy is reliant on VAT as its main source of tax revenue, 720 billion at last count. That far exceeds any other category of taxation, ergo, the government wants tourist to spend money and buy stuff. The amount spent by backpackers and the like don't meet the necessary criteria, the country NEEDS (not just wants) people who spend more.

The system is broken because not enough people under age 35 are working in paying jobs and making contributions into the SSc/NI systems. This is because their boomer era parents made lots of money and their children are now able to lead privelleged unemployed lives, living off their inheritance, travelling in Thailand and similar places. So, not only did boomers give their kids real music, they also gave them the internet and lots of money on which to live. What is the solution you ask? Well, mostly it involves all the under age 35 crowd getting meaningful jobs, paying tax and SSc/NI so that big pharma can employ them as researchers and scientists and create new drugs that will prolong their lives. Simples, next.

Chiang Mai/Mae Sa Valley and roads North are heaving and have been for a few days.

Those initiatives are aimed at global warming and the reduction in fossil fuel consumption. It's been proven they are effective in that respect but they have nothing to do with the ideals that you are referring to.

That's almost true, almost. Covid killed off international tourism and other exports, if other exports would have held up to the same level as before, the 11% of GDP that is international tourism wouldn't have been that greatly missed

And a very happy new year to you too.

It is a goal, an objective, it also has zero chance of being achieved, think about it. From their web site, your link: "On the issue of regulation, a 33% commitment was observed, relatively high among all countries. Many of the reviewed countries, constituting 70%, had integrated universal health coverage as their goal in their national health policy planning; however, a limited number of these countries, constituting 11%, translated these institutional commitments into clear-cut universal health coverage implementable roadmaps. A quarter had integrated at least one or two universal health coverage pillars as goals in their national health policies. The evidence also suggests that most of these countries did not operationalise their commitments into action plans or poorly communicated those resolves. Where applicable, the focus of implementation was on disease-specific programmes, rather than having established systems that provided comprehensive healthcare".

I also know of a foreigner working in a very senior role in banking who was able to obtain a mortgage via his client (the bank he worked for in Bangkok) by using securities held in a pension plan and with the mortgage being in his wifes name. I think strongly that any lending option outside of the mainstream banks is going to come with high risk and should be avoided at all costs.

Best wishes to all for a safe and happy holiday and a brilliant new year.

Your chances of getting a mortgage here, unless you put up substantial collateral, are almost zero. If by owner financing you mean using rental income as a guarantee on a loan, no, that won't work for you either, see the above. Yes you are allowed to lease out your condo, short term rentals under 30 days are not allowed. You will need to file a Thai tax return to declare the income, this is easily done and the Thai tax authorities are very easy to deal with. Generous deductions are available. For example, the first 150k of income is zero rated, plus a personal allowance of 30k per person is available for the filer and their spouse, health and life insurance is deductible, as are mortgage payments, within limits :((. Income from 150k to 300k is taxed at 5%.

THB to VND is a single conversion and wins the competition. THB to VND via USD is two conversions.

The inside unit contains the fan that circulates the air around the room, that fan is covered by a mesh screen that keeps out the big bits of debris. Tape the filtrette to that screen but only cover three quarters of the screen, give it room to breathe in case it gets blocked. Inspect and change frequently. The cover lifts up on the front of the unit inside the house to reveal the screen mentioned above. The fan in the unit outside the house is part of the air conditioning compressor unit, don't get involved with that.

BTW Xiaomi products are sold in MI stores, there's one on the 2nd floor (?) of Central Festival, a few doors down from Central Dept store.