Pattaya business leaders bemoan strong baht

[marcusarelus]

3 minutes ago, ThomasThBKK said:

The BoT is very very well aware of the issues a strong baht has but they got burned in the last financial crisis which took nearly 10 years to recover from.

The BoT isn't the junta gov, there are actual people who know a bit - they have tons of foreign advisors they hired after the asia crisis.

 

They just can't do too much because it's 1) dangerous and could tank the economy more than a strong baht and 2) if they manipulate it down like other countries they will land on the list of currency manipulators - it's really that simple.

 

 

 

Careful what you guys wish for when you ask them to intervene... most intervention methods will include foreign capital controls and will be bad for you guys.

I think most of the posters here live on mom's back porch so not too much cash to worry about.  Those who do have cash know the financial crisis 97 was not about a strong baht but there was not enough money in Thailand to manipulate the currency.  

[Mel52]

The BoT is very very well aware of the issues a strong baht has but they got burned in the last financial crisis which took nearly 10 years to recover from.
The BoT isn't the junta gov, there are actual people who know a bit - they have tons of foreign advisors they hired after the asia crisis.
 
They just can't do too much because it's 1) dangerous and could tank the economy more than a strong baht and 2) if they manipulate it down like other countries they will land on the list of currency manipulators - it's really that simple.
 
 

Don said Wednesday he didn’t know which steps to restrain the currency could be rolled out, while adding that one option may be to ask banks to be stricter on short-term transactions by non-residents.

 
Careful what you guys wish for when you ask them to intervene... most intervention methods will include foreign capital controls and will be bad for you guys (me included).
One thing could be restricting foreign capital inflow, and then have fun getting your next visa or paying your rent...

That’s what concerns me about currency manipulation because Thailand is already on the United States Treasury Department’s bad boy list when it comes to that. I would hate to see the Federal Reserve say “no more money transfers into Thailand” or sanctions or something like that. But I don’t think we’re quite there yet we’re a long way from there but it could happen if there is foreign intervention.

[Mel52]

The World's strongest currency by some margin.

 

https://www.bloomberg.com/news/articles/2019-07-03/-worried-thai-central-bank-looking-at-steps-to-damp-baht-surge

I’m sorry were you trying to agree with me? Because the first sentence of the Bloomberg article you posted actually makes my point about currency manipulation or “unfair currency practices” as your article specifically says.

[mindfulness]

LOL !!! You go home you not like ???????????? LOL’lllllllllll 

[tabarin]

I actually decided it is even better for us to go on holiday in Europe, where i come from, as of the strong Baht (while doing the yearly visit already anyway). 
Not worth doing 2-3 domestic holidays with all the misery and limitations of ruined parties and early closing bars / restaurants.
I will opt in for quality from this point and be more happy with 1 good holiday (that is still inexpensive in south europe).

Edited July 6, 2019 by tabarin

[manhood]

What i don't understand is the fact; imports are getting cheaper and cheaper but the prices in the shops for imports are getting higher and higher due to no competition is going on in this country!!!

[BestB]

2 minutes ago, manhood said:

What i don't understand is the fact; imports are getting cheaper and cheaper but the prices in the shops for imports are getting higher and higher due to no competition is going on in this country!!!

Costs of doing business keeps going up and up ????

[Rimmer]

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[lvr181]

Why are Pattaya business leaders concerned? Didn't TAT state that there would be (yet again) another increase in tourists numbers this year?

 

Or could it be that TAT merely count the expected numbers flowing THROUGH the airports but not necessarily "staying on" as tourists? I am reminded about some sections of the media- 'never let the truth get in the way of a good story'. Would TAT do that? ????

 

 

(sceptical comments)

[brianthainess]

It is not just the strong Baht, immigration rules,pollution,deaths on the road, and the country still being run by the little <deleted>,  are a few more reasons tourism is down .          >  goodbye

[kellio]

On 7/5/2019 at 9:35 PM, dallen52 said:

The Indians congregating on klang are blocking the road. 

Spending in their Indian friends shops.

Certainly not bars.

 

Chinese tourists just whiz past in their package tour buses to the venues already booked overseas for them. 

They don't spend a cracker (Joke)

On the soi.

Unless its pre arranged shopping outlets. 

The Indian tourists want discounts. 

The Chinese think one baht is a good tip.

 

The government may welcome them but the average thai on the street gets nothing from it.

I couldn't agree more on both the Indians and the Chinese.
The Indians who mill around of footpaths blocking access to other pedestrians and forcing them onto the street, have the same attitude towards the cars, trucks, buses, motor bikes etc the roads were made for.
They'll stroll what appears to be aimlessly down the middle of the road blocking traffic behind them or will saunter across the street duck fashion without giving a care to the inconvenience they  cause other people or the drivers of the vehicles the streets are made for.
While I appreciate it's within their culture to do that because there are so many of them in their own country because there's simply not enough room in the cities to allow pedestrians to get around without impinging on the roads, at least they should adhere to the old "When in Rome" adage and show a little respect for the Thais, their culture and common practice.
It's the Thais in their cars, trucks, buses and motor bikes who deliver the life blood to the communities and being slowed down by these people also adds to slow the delivery of food, media, medicals  and necessary commodities and services to the community as a whole.
It's also true that while the Thais are a very patient race, my observations after living here for almost 20 years indicate that their patience is getting thin.
While what you say is true of the Chinese as well, at least are fairly well organized in their booked tours and little flags on sticks even if 90% of the revenue they spend either stays in China or goes back to China.
Either way, both are not helping the Thai economy much at all particularly now that the Thai Baht is so strong.

 

Edited July 8, 2019 by kellio
Typo

[jacko45k]

Ride up behind them until very close and then beep sharply. Great fun. 

[kellio]

18 minutes ago, jacko45k said:

Ride up behind them until very close and then beep sharply. Great fun. 

Yeah. Then they glare at you as if to say "What have I done wrong?"

 

[jacko45k]

7 minutes ago, kellio said:

Yeah. Then they glare at you as if to say "What have I done wrong?"

 

I can live with that! Real issue is there are no damned pavements in most areas (or they are occupied by stalls and beggars) and hence the roads have to be shared. A maneuver around them and give one a thwack around the back of the head with a piece of 4x2 maybe? 

[kellio]

On 7/9/2019 at 7:52 AM, jacko45k said:

I can live with that! Real issue is there are no damned pavements in most areas (or they are occupied by stalls and beggars) and hence the roads have to be shared. A maneuver around them and give one a thwack around the back of the head with a piece of 4x2 maybe? 

The piece of 4x2 would break.