Strong baht a concern for Thai hotel sector

[Thaidream]

18 minutes ago, FarangDoingHisThing69 said:

At this point, I would recommend someone hold 100,000 baht in a forgotten Bangkok Bank account and see what plays out. Who knows, maybe the government will peg it to 1$/Baht one day. I've seen more insane things happen.

Governments no longer peg currencies- Thailand tried that in 199697 and attempted to hold their currency at the same level- they used up almost all of their reserves and then had to devalue.

The current Baht level is being manipulated  to keep those with huge amounts of money happy when they spend abroad. The current Government wants people to vote for them but they are forgetting that currencies cannot be manipulated long term.

 

This coming election is probably the most important in Thai history as it will determine whether the current  policies will remain or whether a new Government will actually follow markets; stop the currency manipulation ans reject the  Chinese over influence on the Thai economy.

[BestB]

1 minute ago, Thaidream said:

Governments no longer peg currencies- Thailand tried that in 199697 and attempted to hold their currency at the same level- they used up almost all of their reserves and then had to devalue.

The current Baht level is being manipulated  to keep those with huge amounts of money happy when they spend abroad. The current Government wants people to vote for them but they are forgetting that currencies cannot be manipulated long term.

 

This coming election is probably the most important in Thai history as it will determine whether the current  policies will remain or whether a new Government will actually follow markets; stop the currency manipulation ans reject the  Chinese over influence on the Thai economy.

That’s a good fantasy. No matter who wins , current regime stays in control. 

 

Having 250 members chosen by the current regime ensures no matter who wins nothing can be changed????????

[FarangDoingHisThing69]

20 minutes ago, Thaidream said:

ans reject the  Chinese over influence on the Thai economy

 

 

This is simply impossible at this point, unless Trump makes a "Pivot to asia," then Chinese dominance will only increase a la Africa.

[BuckBee]

It only the chinese that keeping number up and everyone knows biggest part of what they spend doesn't stay in the country.

Western tourism plummeted like never before .

Indeed baht is being propped, an adjustment of about 8% would of been wise ...

[nong38]

9 hours ago, fforest1 said:

Quality tourist dont care about value for their money...

Only cheap charlies care about value for their money....

Are they talking about us? Surely not!

[BestB]

Just come back from Malaysia.

 

Firstly Don Muang airport, not as busy as 6 months ago, but hardly any Western faces, mainly Chinese and Asian

 

In Malaysia, same thing, hardly any westerners, mainly Chinese and Asian.

 

Flight back to Thailand, could count number of westerns on 1 hand, again Chinese, and Asian

 

As i mentioned earlier while AUD dropped 30% against THB, Ringgit dropped only about 3%

 

Same with most other Asian currencies, so it is expansive for Westerners to travel, but pretty much the same for most Asian countries and with less Westerners, prices are cheaper, ie cheaper for Asian tourists to travel

 

In Penang, got a nice hotel room for 600 baht, same room in same hotel usually 900 cheapest.

[Traubert]

2 hours ago, BestB said:

Same with most other Asian currencies, so it is expansive for Westerners to travel, but pretty much the same for most Asian countries and with less Westerners, prices are cheaper, ie cheaper for Asian tourists to travel

 

In Penang, got a nice hotel room for 600 baht, same room in same hotel usually 900 cheapest.

The CNY approx one year ago was 5.15 on the street. My last visit it was 4.72, some days 4.69, a 9% drop and it's hovered there for for four months.

 

Now, the CNY is in the worldwide basket of currencies and the Baht isn't. Enter the much maligned (on here) Alipay and suddenly there's private currency exchange going on.

 

And the westerners aren't in it!

 

Hear those howls of outrage. ????

 

It's the same in the Philippines where the westerners can't compete with the Japanese and the Koreans.

 

I'm ok, I get paid in CNY.

[john ianson]

20 hours ago, shackleton said:

seems only some people here on  Thai visa are worried about the numbers of tourists coming to Thailand

The Thai tourist board and others are pleased,  numbers  keep going up every year 

 

If people believe the numbers put out by TAT they live on a strange planet ! They are all smoke and mirrors 

[metisdead]

A post in violation of fair use policy has been removed:

 

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[soalbundy]

21 hours ago, lipflipper said:

With the Bank of Thailand manipulating the Baht to satisfy their Hi So clients from here and abroad the only people concerned with this fraud are the Expats on fixed incomes who are taking it up their collective keis...ters. Particularly the guys from Australia must be pulling their hair out as their dollar is heading south with no end in sight. Combined with Biggest Joke and his campaign to rid Thailand of Expats this manipulation of the Baht is just another nail in our coffin.

Sent from my CMR-AL19 using Thailand Forum - Thaivisa mobile app
 

What is this a conspiracy theory ? why would Thailand manipulate the Baht to go higher when that is damaging exports ? Foreign investment due to the Bahts stability and strong fundamentals causes the Baht to go higher, there is nothing in the 10 commandments which says 'Thou shalt have a cheap Baht'. I can't see a concerted effort to get rid of expats who follow the rules, badly implemented efforts to get the rules enforced perhaps but I see nothing sinister in this, if they wanted to get rid of us it would be simple, nobody allowed to stay more than 3 months! When I last did my 90 day report my missus spoke with the boss of our IO who just happened to be downstairs about the confusion as to what is deemed proof of funds. He got onto a computer and typed in my name and passport number, after scrolling down several times (seems they have a lot of info on us) he said, "Your husband has a good status with us he will be able to stay no matter what". No black ops there.

[Old Croc]

13 hours ago, GreasyFingers said:

A you trying to make me feel good. I always used 26B:1AUD to bring money over when it went above that. I was absolutely dirty when I had to bring in 5M baht to buy the house and land at 23.6.

Now if you are right, and I can get the wife to sell everything, I will have more AUD than I have dreamed of.

Sorry, not doubting you, just trying to look on the funny side if you are right.

In July 2011 I transferred AUD300,000 at 32.37 to the baht.  A total of B9,711,000. This paid for my house, the 800k visa money and living costs for several years. Even though the AUD is now at a rate of about 22.30 (down about 31% in just under 8 years), I'm well ahead on average. 

The 800,000 cost me the equivalent about $24,800 then. If I were to change it back to AUD now it would be worth something like $35,800. Not a bad return over 7+ years.  Dead money?

 

Of course this doesn't mean I wouldn't be hurting if the AUD continues downwards.

[fforest1]

26 minutes ago, soalbundy said:

What is this a conspiracy theory ? why would Thailand manipulate the Baht to go higher when that is damaging exports ? Foreign investment due to the Bahts stability and strong fundamentals causes the Baht to go higher, there is nothing in the 10 commandments which says 'Thou shalt have a cheap Baht'. I can't see a concerted effort to get rid of expats who follow the rules, badly implemented efforts to get the rules enforced perhaps but I see nothing sinister in this, if they wanted to get rid of us it would be simple, nobody allowed to stay more than 3 months! When I last did my 90 day report my missus spoke with the boss of our IO who just happened to be downstairs about the confusion as to what is deemed proof of funds. He got onto a computer and typed in my name and passport number, after scrolling down several times (seems they have a lot of info on us) he said, "Your husband has a good status with us he will be able to stay no matter what". No black ops there.

 JFK was shot by a lone gunman,, Monsanto is a farmers friend.....Sure Thailand welcomes expats and encourages them to retire here with stable long term visas that expats can count on....Nothing strange about the baht being the strongest currency in the world.....

There are no conspiracies... 

Edited February 23, 2019 by fforest1

[BestB]

31 minutes ago, soalbundy said:

What is this a conspiracy theory ? why would Thailand manipulate the Baht to go higher when that is damaging exports ? Foreign investment due to the Bahts stability and strong fundamentals causes the Baht to go higher, there is nothing in the 10 commandments which says 'Thou shalt have a cheap Baht'. I can't see a concerted effort to get rid of expats who follow the rules, badly implemented efforts to get the rules enforced perhaps but I see nothing sinister in this, if they wanted to get rid of us it would be simple, nobody allowed to stay more than 3 months! When I last did my 90 day report my missus spoke with the boss of our IO who just happened to be downstairs about the confusion as to what is deemed proof of funds. He got onto a computer and typed in my name and passport number, after scrolling down several times (seems they have a lot of info on us) he said, "Your husband has a good status with us he will be able to stay no matter what". No black ops there.

That is the truth , they have data base from the day you entered the country. Myth of changing passport can help is just a myth, unless you change name and passport and even then I am not sure if face recognition will not pick up the change .

 

all they doing is tightening up to have people who have the means to stay in the country. Yes some new rules may not be fairest but it is what it is.

 

same right regulatomd applied for non b, but need 100 more pages and now they check every page and payment also 

[Thailand Forever]

21 hours ago, MadMuhammad said:

I’m Aussie and I got lucky, I saw the writing on the wall early last year so I transferred more than 12 months living costs @ 24ish. 

Hoping to ride it out when it bottoms out at 20 mid year 

I call BS.

 

Thailand's currency strength is relative among Asian and Western countries and is bound to continue rising barring some crisis.

[weegee]

15 hours ago, BestB said:

Aud might be due to Chinese stop buying coal, main export. They may stop to buy other things. I do not believe Thai baht will crash, I like to hope it will but being in surplus economy and few hundred billion in foreign reserves , I am afraid highly unlikely 

The baht wont crash...that's for sure, but I believe it will drop back considerably this year. As far as reserves go, after the up coming election, that could change overnight.

 

[soalbundy]

17 minutes ago, fforest1 said:

 JFK was shot by a lone gunman,, Monsanto is a farmers friend.....Sure Thailand welcomes expats and encourages them to retire here with stable long term visas that expats can count on....Nothing strange about the baht being the strongest currency in the world.....

There are no conspiracies... 

Investors go where they can earn money, at the moment that is Asia, Europe is slowing down and the USA could be heading for a recession in 2019/2020, it makes sense to produce things where the overheads are low, a large, young population and the currency and politics are stable. At the moment the West is old and worn out. Things change rapidly these days, tomorrow the new bonanza countries could be Brazil and Russia. India was supposed to be the new China but that is looking more and more unlikely, it's all about ratios and money, where can I make a safe buck. Nobody can manipulate a currency without the IMF and America screaming it from the rooftops. If Thailand were to manipulate it would be downwards not up.

[Dinobot]

I am tired of spending 160 baht for breakfast here in Hua Hin, when I can get it as cheap at McDonalds in Canada where I live for the same price..
Geezer

But then you would be both having to eat at McDonald’s AND be in Canada, a double whammy if you ask me!

[grego49]

On 2/22/2019 at 10:42 AM, madmitch said:

The headline and the article content seem to contradict each other!

 

Two years ago let's say a reasonable 4 star hotel room cost 4,500 baht. That was about £82 at that time.

 

Fast forward to today when that same hotel room cost 11% more at 5,000 baht. That's now £125! That's over a 50% increase for a British tourist!

 

Of course Britain has its own currency problems but tourists from all over the world are seeing disproportionate increases in real-term prices. 

 

I've had regular visitors to Thailand, Brits, Aussies and Swedes  telling me they won't be back as Thailand is now too expensive. 

 

 

And there the ones that actually spend money in thailand,not like to ones that ride around in tour buses looking out the windows.

[j8k]

I am paying £12 / B500 for a super place in Chiang Mai, 5 mins from Thapae Gate. 

 

Try getting an ensuite room with cable, wifi and air con in Europe for under £12!

 

Even a dorm bed would be more in most European cities.

 

Thailand doesn't need cheap charlies moaning!

 

Right, where did I put my 7eleven sandwich and small Leo?

[j8k]

This is on top of the thieving banks charging £5.20 per ATM transactions. Utter bar-stewards! I am off to Cambo!

[Number 6]

I thought I'd read a week or so back the bot raised rates. Utterly ridiculous.

 

Keeping thb strong to balance issues and instability of upcoming election. Trouble in the street would seriously undermine the currency because we all know how fragile things really are here.

[overherebc]

44 minutes ago, j8k said:

I am paying £12 / B500 for a super place in Chiang Mai, 5 mins from Thapae Gate. 

 

Try getting an ensuite room with cable, wifi and air con in Europe for under £12!

 

Even a dorm bed would be more in most European cities.

 

Thailand doesn't need cheap charlies moaning!

 

Right, where did I put my 7eleven sandwich and small Leo?

To live like that you must have done something really sh-tty in a past life ????????

[soalbundy]

20 minutes ago, overherebc said:

To live like that you must have done something really sh-tty in a past life ????????

Thai policeman

[Prissana Pescud]

On 2/22/2019 at 10:42 AM, madmitch said:

The headline and the article content seem to contradict each other!

 

Two years ago let's say a reasonable 4 star hotel room cost 4,500 baht. That was about £82 at that time.

 

Fast forward to today when that same hotel room cost 11% more at 5,000 baht. That's now £125! That's over a 50% increase for a British tourist!

 

Of course Britain has its own currency problems but tourists from all over the world are seeing disproportionate increases in real-term prices. 

 

I've had regular visitors to Thailand, Brits, Aussies and Swedes  telling me they won't be back as Thailand is now too expensive. 

 

 

I recently returned from a visa run to Laos. Did I get a good surprise.

Not cheap, inexpensive.

Great fresh food. Better beer taste and varieties.

Lovely people that were like Thais 30 years ago.

 I was pulled over by army people eating a meal. I was forced to eat and drink with them. lol True. I loved it.

 Minimal police. A very relaxed atmosphere.

Hotels were mostly full but they cost peanuts compared to Thailand.

The owner of a pub said he was given 12 month visas to stay there. No border runs.

Why would you live in Thailand was his parting words to me.

[Prissana Pescud]

34 minutes ago, Prissana Pescud said:

I recently returned from a visa run to Laos. Did I get a good surprise.

Not cheap, inexpensive.

Great fresh food. Better beer taste and varieties.

Lovely people that were like Thais 30 years ago.

 I was pulled over by army people eating a meal. I was forced to eat and drink with them. lol True. I loved it.

 Minimal police. A very relaxed atmosphere.

Hotels were mostly full but they cost peanuts compared to Thailand.

The owner of a pub said he was given 12 month visas to stay there. No border runs.

Why would you live in Thailand was his parting words to me.

"Why would you live in Thailand" was his parting words to me as my Thai wife dragged me off to the tuk tuk

to catch the coach back to Thailand. Is what I should have added. lol

[Baerboxer]

On 2/22/2019 at 9:30 AM, BestB said:

Not to worry with majority of hotels being deemed as “illegal” for not having and not being able to get a piece of paper , silly tourists will be paying whatever 4-5 star hotels want to charge or sleep on the street. 

 

Yes, makes much more sense to bring back the kleptocracy where no one gave a toss about hotel safety and hygiene as long as the right bribes were paid!

[Baerboxer]

4 minutes ago, Prissana Pescud said:

"Why would you live in Thailand" was his parting words to me as my Thai wife dragged me off to the tuk tuk

to catch the coach back to Thailand. Is what I should have added. lol

 

If it's your idea of utopia then go. 

[Baerboxer]

1 hour ago, Number 6 said:

I thought I'd read a week or so back the bot raised rates. Utterly ridiculous.

 

Keeping thb strong to balance issues and instability of upcoming election. Trouble in the street would seriously undermine the currency because we all know how fragile things really are here.

 

The strength of a currency isn't the only reason for raising, lowering or maintaining interest rates. 

 

Your remaining comments clearly demonstrate your grasp of economics - not!

[Baerboxer]

18 hours ago, BestB said:

Just come back from Malaysia.

 

Firstly Don Muang airport, not as busy as 6 months ago, but hardly any Western faces, mainly Chinese and Asian

 

In Malaysia, same thing, hardly any westerners, mainly Chinese and Asian.

 

Flight back to Thailand, could count number of westerns on 1 hand, again Chinese, and Asian

 

As i mentioned earlier while AUD dropped 30% against THB, Ringgit dropped only about 3%

 

Same with most other Asian currencies, so it is expansive for Westerners to travel, but pretty much the same for most Asian countries and with less Westerners, prices are cheaper, ie cheaper for Asian tourists to travel

 

In Penang, got a nice hotel room for 600 baht, same room in same hotel usually 900 cheapest.

 

February - is that normally "holiday season" for Westerners then?

[Prissana Pescud]

24 minutes ago, Baerboxer said:

 

If it's your idea of utopia then go. 

I will on my next visa run. Utopia is your words, not mine. I live happily in Thailand

in an out of the way area. Living in smog filled cities is not my idea of utopia. but good luck to you.

And thanks for your cheerful post.