The Changing Face Of Pattaya?

[Jessy]

There are two parts to this thread, but they are related. On CNBC there was a feature about Thailand which said that rented office space by foreign business in Bangkok was down to 20% compared to two years ago - a sure indicator of the lack of confidence by foreign investors in Thailands furture stability. It talked about the feeding frenzy going on politically between politicians, while the question of an election remains in the background. In addition, and as we know, Thailand has had a huge amount of bad press over the last year - the coup, the recent brutal killings in Pattaya, the farcical interview with the finance minister on CNBC, the airport situation and the escalating situation in the south, all of which has made continuous international news.

All this affects Pattaya as well as Thailand in general. To most people this is not new information.

Thailand needs a bit of luck as well as the political situation being sorted out. Pattaya has certainly changed a lot compared to five years ago and will continue to do so. Thai businesses (not so much American or European) have been gearing up to these changes with the help of those in authority, who see the real money in Russian and Asian tourism, particularly tour groups and family groups. Many of these influential Thais with business interest see Pattaya's traditional image as a hindrance to the new market potential. However, in order for this new found business direction to be successful the instability that is effecting the rest of Thailand at the moment will need to improve - and I hope it will. A major step in the right direction will be an election, because until that happens, investors etc. are playing a waiting game and the political infighting will continue. In relation to a previous thread, 'Is Pattaya Dead?', well as with the rest of Thailand much depends on the general peception from outside Thailand; again, alot of this is related to the uncertainty about the politcal situation which still has to be resolved.

[wpcoe]

On CNBC there was a feature about Thailand which said that rented office space by foreign business in Bangkok was down to 20% compared to two years ago - a sure indicator of the lack of confidence by foreign investors in Thailands furture stability. It talked about the feeding frenzy going on politically between politicians, while the question of an election remains in the background. In addition, and as we know, Thailand has had a huge amount of bad press over the last year - the coup, the recent brutal killings in Pattaya, the farcical interview with the finance minister on CNBC, the airport situation and the escalating situation in the south, all of which has made continuous international news.

And yet, somehow, the baht marches upward, undaunted?

[chanchao]

> And yet, somehow, the baht marches upward, undaunted?

Which is not necessarily a great thing when you make your money from export & tourism.

[salford]

the continuing rise of the baht is certainly a strange concept to me, with the long list of problems over the last year you would expect a slide not an increase in value , feels like big money people playing games to me, of course who knows when that may reverse its self or if it will continue to rise .

[NanLaew]

off topic but the current baht surge is all about the US mortgage market jitters and other external forces. globalization is something that thaksin was embracing before he admittedly lost the plot. however, the old-school style of government by patronage enforced with a velvet-glove military that once again prevails over LOS is powerless against a market force they cannot comprehend and therefore refuse to accept. if they try and meddle any more with foreign direct investment, exchange controls and rates, it will be an even bigger disaster. when Thailand is eventually dragged kicking and screaming into the 21st century, we should make sure we all have helmets.