Pattaya business leaders bemoan strong baht

[marcusarelus]

4 minutes ago, MartinKal said:

It is true you know.

 

The logic is not supply-and-demand (if you want to pick up customers in a downturn, you must lower your prices).

 

It is I-need-this-much-to-live-on (if I have fewer customers, I must increase my prices to maintain my revenue).

Been in business here for 20 years and it's nonsense.  

[MartinKal]

1 minute ago, jaiyen said:

And TAT is going to the Middle East to encourage the ragheads to come to Thailand !  More quality tourists ?  No, they just want the rich ones.

If you wanted to maintain tourism's contribution to rhe economy, what would be your priorities? And where would you direct your marketing effort?

[randy723]

2 hours ago, legend49 said:

Their country, their government, their problem.

YES but if you are an expat living here it become our problem also because it affix's our cost of living also even if our are multa millionaire like your self 

[marcusarelus]

4 minutes ago, MartinKal said:

The Tom Yum Goong crisis of 1997 was the result of Rhai borrowing in dollars and when rates went up, they could not find enough dollars, so they sold baht to buy dollars. In the face of such a rush for rhe exits, the baht plummeted.

Speculators began attacking the Thai baht's peg to the U.S. dollar, which proved successful and the currency was eventually floated and devalued.

[CharlieH]

Reported racist comment removed.

[moe666]

40 minutes ago, jlwilliamsjr18 said:

There's  a lot of funny business going on.  First, the baht's value can be dictated. Why, cheap dollars for the elite which means they can buy more in the US, like property etc. Unlike Thailand, foreigners can own land and homes in the US, and yes, even rent them out.  The savings on the dollar, should have a trickle down effect, but from where I sit, prices are just rising. So, how long can this last, and is Thailand facing a financial downfall.  Stay tuned...

Sorry to bust your bubble the last time the dollar dropped to the bhat was the quantatative easing scam, lota of dollars flowing inro Thailand causing the Thai stock market to explode I doubled my money in six months. But then the money started flowing out and I lost 40,000b in one day. I was out of there nice profit. The dollar started to rise again from the high 20sto the mid 30s. 

Brought 3000.00 dollars in a couple of days ago I lost 2000.00b from a month due to change in exchange rate, what goes up also comes down.

[hotchilli]

4 hours ago, Rimmer said:

PATTAYA:--The strong baht is taking its toll on Pattaya tourism as fewer foreign tourists come to Thailand and more Thais flex their spending power overseas instead of on the Eastern Seaboard.

What goes around comes around.

[Zack61]

1 hour ago, Inepto Cracy said:

I have watched some of my Thai friends bemoan the fact that they could not go to Chumporn nor Chiang Mai for a holiday, too expensive for thai, over the last 4 years... Mmmmm ?

Now they can take their families to Japan, Hong Kong and UK.

Somehow I don't think they saved the money to go on holiday.

No none of them won any jackpot either. So.....

Do they work for the government in positions of management? If so I have a fair idea where their new found wealth came from. It’s quite amazing the amount of syphoning that goes on by a lot of people in those positions. 

[marcusarelus]

15 minutes ago, finnishmen said:

i hope baht drop fast and deep and tourims stop one year, then thais understand how lot he need foreign money, whitout foreign investication thailand have only many little village in jungle, only foreign has make up thailand economy and manufactory, thai not can do this ewer.if thai has need build country up good, we have today same than 5000 year before, thai not can build good anythink. all good this country has made at foreign money and know how and investication.

In the little Thai village the value of the auto exports is about $11 Billion dollars.  Finland is $1.25 billion.

 

Thought you might like to know.  

Edited July 5, 2019 by marcusarelus

[Millcx]

1 hour ago, jlwilliamsjr18 said:

There's  a lot of funny business going on.  First, the baht's value can be dictated. Why, cheap dollars for the elite which means they can buy more in the US, like property etc. Unlike Thailand, foreigners can own land and homes in the US, and yes, even rent them out.  The savings on the dollar, should have a trickle down effect, but from where I sit, prices are just rising. So, how long can this last, and is Thailand facing a financial downfall.  Stay tuned...

It’s gonna be a Thai Armageddon that the government should be fixing ... Oh there is none ... Silly me

[Formaleins]

Never mind, I expect that TAT will predict 2 trillion new arrivals for the rest of the year.

[marcusarelus]

1 hour ago, jlwilliamsjr18 said:

There's  a lot of funny business going on.  First, the baht's value can be dictated. Why, cheap dollars for the elite which means they can buy more in the US, like property etc. Unlike Thailand, foreigners can own land and homes in the US, and yes, even rent them out.  The savings on the dollar, should have a trickle down effect, but from where I sit, prices are just rising. So, how long can this last, and is Thailand facing a financial downfall.  Stay tuned...

Rich Thai people get rich selling exports and many other things that depend on the economy growing.  With the Baht so high the economy is not growing.  If the rich people had enough money to reduce the value of the baht against the idiot moves of the Western economies they would but they can't keep up with the bozo's in the West making mistakes to lower the value of the pound and dollar.  

[Stevemercer]

2 hours ago, Dogbarker said:

The baht has strength yes BUT the currencies being compared with are weak .  GBP Brexit USD trade wars and some comments about the President. AUD issues with economy? .. So it is OK to say a strong baht while forgetting the decline of others .....  

 

Not really true - most economies are trying to push their currency down to remain competitive by boosting exports and reducing import. Thailand is alone in pushing their currency up and weakening the country's economy.

[DUNROAMIN]

On 6/11/2019 at 6:18 PM, madmen said:

Food for foreigners mails out to all of Thailand next day delivery and with dry ice if needed. Never tried their pies though

FFF Price List.pdf 14.55 MB · 5 downloads

 

1 hour ago, jlwilliamsjr18 said:

There's  a lot of funny business going on.  First, the baht's value can be dictated. Why, cheap dollars for the elite which means they can buy more in the US, like property etc. Unlike Thailand, foreigners can own land and homes in the US, and yes, even rent them out.  The savings on the dollar, should have a trickle down effect, but from where I sit, prices are just rising. So, how long can this last, and is Thailand facing a financial downfall.  Stay tuned...

Thailand Barht at the moment is a inflated balloon filled with hot air, not long before the big bang!!!!!

[adammike]

1 hour ago, jlwilliamsjr18 said:

There's  a lot of funny business going on.  First, the baht's value can be dictated. Why, cheap dollars for the elite which means they can buy more in the US, like property etc. Unlike Thailand, foreigners can own land and homes in the US, and yes, even rent them out.  The savings on the dollar, should have a trickle down effect, but from where I sit, prices are just rising. So, how long can this last, and is Thailand facing a financial downfall.  Stay tuned...

Unicorns and sunny uplands thinking.

[spidermike007]

It is easy to blame the strong baht. And it is definitely a factor. But, there are so many other factors. The army, Prayuth, and the biggest joke spent five years sabotaging Western tourism. Now, the damage can be felt, and people are worried. Millions of jobs are at stake.

 

Also, the unwillingness to tackle the scams, the traffic and public safety issues, the environmental issues, and so many other causes, are all having an impact on tourism. The decision to turn away from Western tourism, and focus almost exclusively on Chinese and Indian tourism was a mistake of historically monumental proportions. 

 

Hopefully, we will eventually see a correction in the Thai baht. Although I feel for those in the hotel industry, lower rates over the long haul sure works for me! It may be the one area where we do not see inflation rearing it's ugly head!

Edited July 5, 2019 by spidermike007

[Mel52]

There’s been a lot of over exaggerated hype about this “strong baht”. It’s gained some but definitely not the strongest currency in Asia not by a long shot

 

 

 

 

[madmen]

2 minutes ago, spidermike007 said:

It is easy to blame the strong baht. And it is definitely a factor. But, there are so many other factors. The army, Prayuth, and the biggest joke spent five years sabotaging Western tourism. Now, the damage can be felt, and people are worried. Millions of jobs are at stake.

 

Also, the unwillingness to tackle the scams, the traffic and public safety issues, the environmental issues, and so many other causes, are all having an impact on tourism. The decision to turn away from Western tourism, and focus almost exclusively on Chinese and Indian tourism was a mistake of historically monumental proportions. 

Nah you're over cooking this. Tourists don't even know who the <deleted> Prayut is.

Deflate the baht and watch them all come back in an instant

[BestB]

Everyone in Thailand bemoans strong baht and the consequences of it. The only one who remains oblivious to the fact is P Prayut and Co. 

 

Even TAT with its creative mathematics starting to bemoan and look under the rocks.

 

But this is not only about baht , but also high prices, army parades in the heart of tourist zones  and new regulations that adding to the problem 

[Torrens54]

Not the Government’s fault at all.... blame the actions of the previously elected Government ....oh, how long ago did the previously Elected Government get Shafted ? Eh, well, must be their fault anyway ! 

[ratcatcher]

4 hours ago, NCC1701A said:

and abroad as well.

Well, not as good as heading a broad eh?

[Enki]

3 hours ago, carstenp said:

interesting????????

Well, lower room rates are good for Thai, too.

[Enki]

1 hour ago, marcusarelus said:

Been in business here for 20 years and it's nonsense.  

It is not nonsense. It depends basically on what edge you live. And it has nothing to do with *here*.

If I need $1000 per month to live, I have to get it.

If I used to have three customers per month to pay $333 and now only have two: those two have to pay $500. It is as simple as that. How would I get my $1000 by lowering the price? Where should magically 2 more customers pop up?

[Barry343]

3 hours ago, legend49 said:

Their country, their government, their problem.

This may be so but for the people who retired here the high value of the baht affects them as well.

 

[BestB]

1 hour ago, marcusarelus said:

Been in business here for 20 years and it's nonsense.  

Really? I thought you owned Go go bars in Vietnam and Florida and retired here.?

 

yet another twist in your vivid imagination ? Hard to keep up at times 

[Isaan sailor]

Obviously BoT is drunk on its daily influx of foreign hot money.  They prefer hot money over saving tourism, export industry or the expats.  Vietnam beckons.

[roadrunner32]

3 hours ago, miamiman123 said:

The Thai Baht is on fire....and the BOT is suggesting that they don’t know how to cool it down.

 

No! They know how to cool it down, they don't want do it. It's different.  If a country needs to devalue it's own currency just do it. 

[madmen]

7 minutes ago, Isaan sailor said:

Obviously BoT is drunk on its daily influx of foreign hot money.  They prefer hot money over saving tourism, export industry or the expats.  Vietnam beckons.

Why? Using oz currency  AUD vs DONG it looks the same as AUD vs BAHT (10 year chart)

[BestB]

7 minutes ago, roadrunner32 said:

No! They know how to cool it down, they don't want do it. It's different.  If a country needs to devalue it's own currency just do it. 

It’s called currency manipulation which is often punishable 

[Deerculler]

BOOM! Crash!