Is Thailand still worth it for Aussies?

[theonetrueaussie]

With the Aud falling to 21.85 and with more rate cuts on the way for Aussies it is very very likely that the THB will fall below 20THB and within the next few months. Do you still think Thailand is worth living with this abysmal exchange rate and what if it keeps dropping down to 15thb or lower. I am keen to see if Aussies will still continue to live here or move on I mean with the current exchange rate I would think most aussies on the pension would not qualify for the retirement visa. 

[madmen]

No . Absolutely not, just holidays and play 2 week millionaire then go back home where a dollar is still worth a dollar.

 

 

[Kenny202]

Its making me think. Everything seems to be going up and dollar going down. Ive been here 5 years and monetarilly just been all bad news. I first came here 7 years ago baht at its best about 33 baht. Came to live and baht immediately fell to 27. Just gone downhill from there. The whole time Ive been here I been working on the assumption what goes down must come up. I know our dollar is p$$ poor and not surprised the way the joints been run last 15 years. But Im buggered if I know why the Thai baht has maintained its strength

[cranki]

Yep, sucks big time !! but I've got no choice in the matter ...I live here....my family is here.....It also really depends on what your financial commitments are, your lifestyle, etc.

Luckily my monthly salary is above average,  that helps offset the low AU$

[madmen]

8 minutes ago, cranki said:

Yep, sucks big time !! but I've got no choice in the matter ...I live here....my family is here.....It also really depends on what your financial commitments are, your lifestyle, etc.

Luckily my monthly salary is above average,  that helps offset the low AU$

Your getting paid in OZ dollars?

[cranki]

25 minutes ago, madmen said:

Your getting paid in OZ dollars?

Yep, I,m a FiFo worker....was getting paid in US$ 18 mths ago for 3 years, which was a way better xchange rate.

[giddyup]

If I was considering a move now, the answer would be no, it's not worth it. With the terrible exchange rate looking to get worse, driving the cost of living up in Thailand, plus the changes with the 800,000 baht in the bank plus possible medical insurance, Thailand is definitely losing it's appeal.

[Kenny202]

Its depressing. Due to bring 400k thb accross early next month for visa. Talk of mandatory medical. Electricity appears to have gone up 30%. So much so I am unsubscribing from this thread.

[Peterw42]

Its still basically cheaper here than Australia but more and more things are ending up around the same price or even more expensive. 

The crappy exchange is one thing but the way prices are going up here adds as well.

Everything is going up, groceries, meals out, street food. Not small increases, 20-30%, something is 20 baht one day and 25 baht the next. 200 baht one day 250 the next.

[madmen]

1 hour ago, Peterw42 said:

Its still basically cheaper here than Australia but more and more things are ending up around the same price or even more expensive. 

The crappy exchange is one thing but the way prices are going up here adds as well.

Everything is going up, groceries, meals out, street food. Not small increases, 20-30%, something is 20 baht one day and 25 baht the next. 200 baht one day 250 the next.

The only reason to live here now is if you cant get laid in oz. if you drop your living standards and rent a shoe box and live on sugar enhanced , msg meals that dont even resemble real food ( 80% boiled rice) well then its cheaper but its a huge backward step

[lipflipper]

Well there is a bright spot in the continual fall of the Aussie dollar and that's it will cull the Cheap Charlie boozing load mouth Aussies from staying here fulltime. Get a group of those Bogans together in a pub or restaurant and your pleasant quiet time goes out the window. I am hoping to see their dollar go even lower.

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

[DingDongLing]

5 hours ago, madmen said:

The only reason to live here now is if you cant get laid in oz. if you drop your living standards and rent a shoe box and live on sugar enhanced , msg meals that dont even resemble real food ( 80% boiled rice) well then its cheaper but its a huge backward step

the meals here are bad?  not healthy? street food. ect

[DingDongLing]

5 hours ago, madmen said:

The only reason to live here now is if you cant get laid in oz. if you drop your living standards and rent a shoe box and live on sugar enhanced , msg meals that dont even resemble real food ( 80% boiled rice) well then its cheaper but its a huge backward step

Also I read that girls in Aussie are the worst to pick up with their attitudes and only go for rich men or models

[Inn Between]

Same-same for Canadians only getting 22-23 baht on the dollar.

 

 

[mstevens]

If you have property in Australia, then you're probably better off there. If you're totally broke then Thailand might appeal, assuming you're ok living amongst lower middle-class Thais (eating on the street, living in a 5,000 baht / month apartment etc).

[DoctorG]

3 hours ago, mstevens said:

If you have property in Australia, then you're probably better off there. If you're totally broke then Thailand might appeal, assuming you're ok living amongst lower middle-class Thais (eating on the street, living in a 5,000 baht / month apartment etc).

Agree. I own my own place in OZ and I live cheaper and easier here than when I lived in TL. 

[DoctorG]

15 hours ago, Kenny202 said:

Came to live and baht immediately fell to 27. Just gone downhill from there.

So, it is all your fault Kenny.

 

(hehe)

[masuk]

15 hours ago, Kenny202 said:

Its making me think. Everything seems to be going up and dollar going down. Ive been here 5 years and monetarilly just been all bad news. I first came here 7 years ago baht at its best about 33 baht. Came to live and baht immediately fell to 27. Just gone downhill from there. The whole time Ive been here I been working on the assumption what goes down must come up. I know our dollar is p$$ poor and not surprised the way the joints been run last 15 years. But Im buggered if I know why the Thai baht has maintained its strength

My situation exactly.  I've returned to Oz, living quite comfortably on the pension.  A 33% drop in income as you've experienced proved too much, plus all the Immigration fees.  Rent here not as cheap but no cost for medical or hospital treatment, free bus transport. 

I miss the friends I made in Thailand, but here the air is clean, drivers actually stop at zebra crossings! 

[mike787]

10 hours ago, madmen said:

The only reason to live here now is if you cant get laid in oz. if you drop your living standards and rent a shoe box and live on sugar enhanced , msg meals that dont even resemble real food ( 80% boiled rice) well then its cheaper but its a huge backward step

...add to that how much you lose when calculating if you were to put 800/400K in a conservative 6-8% return over 5,10,15,20 years, passively managed mutual fund with low fees that tracks the global markets, you will see how stupid it is to give your money to Thai banks as a free loan.  Reality, it's called money laundering.  Enjoy your stay in LOS.

Edited May 17, 2019 by mike787

[wisperone]

Well what would you do if you had someone investing your money and the value of your portfolio decreased by 33% over those years? Would you keep him on and keep paying him...or move on to someone else?

[cranki]

10 hours ago, madmen said:

The only reason to live here now is if you cant get laid in oz. if you drop your living standards and rent a shoe box and live on sugar enhanced , msg meals that dont even resemble real food ( 80% boiled rice) well then its cheaper but its a huge backward step

You sound bitter because you can't afford to live here... if you can't afford to live here...how the hell are you able to afford to live in Australia ?

[cranki]

14 minutes ago, mike787 said:

...add to that how much you lose when calculating if you were to put 800/400K in a conservative 6-8% return over 5,10,15,20 years, passively managed mutual fund with low fees that tracks the global markets, you will see how stupid it is to give your money to Thai banks as a free loan.  Reality, it's called money laundering.  Enjoy your stay in LOS.

If your worrying over a piddly amount of 400/800k baht, you definitely should stay in Oz ????

[sydneyjed]

The dummy spit between America and China certainly hasn't helped things.Mind you it's always been that when there is any negative news on the world financial markets that they catch a cold and the AUD catch's pneumonia! What ever the reason this will have an impact on tourism out of Australia and imports out of Thailand.25% drop in any currency and gain in the other..you don't have to be Einstein to know that!

[cranki]

1 minute ago, sydneyjed said:

The dummy spit between America and China certainly hasn't helped things.Mind you it's always been that when there is any negative news on the world financial markets that they catch a cold and the AUD catch's pneumonia! What ever the reason this will have an impact on tourism out of Australia and imports out of Thailand.25% drop in any currency and gain in the other..you don't have to be Einstein to know that!

Agreed....Australia always follows the yanks around like little pet sheep....looking for the next pat on the back !!

[Kevin mcbeath]

Yes I agree with Kenny 202 post when the baht was good it was ok to live in los. But now with the decrease in the baht and monies in Thai bank before and after retirement extension, also come July if aged over 50 you must have health insurance, which yes I agree is a must have in los. Many farang I have spoken to are considering relocating to Phillipines etc not sure what system is in place there,would be hard for guys aged 60 plus to return to Australia or UK if they don’t have property or family to assist.very hard to gain employment 

[MalandLee]

For what it is worth!

 

AUSTRALIAN DOLLAR

 

Sep 1993 16.419122 Baht - that was my lowest since coming here.

 

31 Jan 1998 it hit 34.790813 Baht - the highest since me coming here

 

In the years 2011 to 2014 it was consistently OVER 30 Baht to the dollar.

 

IMO there are no crystal balls - if there is a global shortage of raw materials - the Aussie will soar.

 

There are lot's of "buts" - but, if there is a (set of) trade deals, China & India may fire up their factories again - "Historically" OZ does well when this happens.

 

BTW the AUD has "averaged" 25.001601 Baht to $AUD1.00 over the last 20 years - right now we are 10% or so BELLOW average.

 

SOURCES: https://www.ofx.com/en-au/forex-news/historical-exchange-rates/yearly-average-rates/

https://www.ofx.com/en-au/forex-news/historical-exchange-rates/

[1FinickyOne]

16 hours ago, Kenny202 said:

I been working on the assumption what goes down must come up.

like a stone in the sea? 

[Henryford]

I am surprised any Aussie wants to live here, Wine at $50 a bottle, ladies at 4000 baht, 800k required in the bank and now 100k a year medical insurance required. If i didn't already have a property i would never come.

[totally thaied up]

I am back in Australia on holidays now and in a way dreading going back to Thailand with my wife. I think in October this year, I will apply for PR for my wife. The cost in Australia for your staple foods is cheaper now than Thailand and I am lucky enough to have a property to stay (very elderly parents) in and I have enough free cash to buy a Condo on the beach at the Gold Coast. The exchange rate has made Thailand expensive. I was here in Chiang Mai since 2012 and gained over 30 to the dollar and life was much easier. With such a massive drop and I gather further losses on the way, we will see our belts tighten more. I live off a married man's pension and it is getting to the stage it is not enough. I am fully health insured but if they added a OPD component of 40,000 to the mix,  it would almost double my yearly insurance and that is not on. So yes, it has gotten expensive here for a Aussie and I do not advise any of my friends to come anymore. I cannot see any improvements over the coming future for the dollar. Looks pretty grim for me.

[mike787]

1 hour ago, wisperone said:

Well what would you do if you had someone investing your money and the value of your portfolio decreased by 33% over those years? Would you keep him on and keep paying him...or move on to someone else?

I would have watched the portfolio and fired them a long time ago. Likely people like that make false promises.  They probably can/do sell ice cream to eskimos daily.  

FACT!  A diversified global money market ETF or mutual fund has NOT lost money since inception, ie S&P 500 Vanguard or Fidelity, but other coutnries have a similar version of their own that track the S&P 500.  Profit?  Approx. 9-10%/year compounded "GUARANTEED" return on investment since inception.  Numbers do not lie. Research it, don't take my word. 

Edited May 17, 2019 by mike787