Stronger pound, ruble hold promise for Pattaya tourism

[orchidfan]

8 hours ago, yellowboat said:

I cannot think of any country in Asia where you are forbidden to buy a beer during a certain time.   Waiting for a currency to go up just shows pathetic TAT really is.  Though the fortune teller thing was really close, this is worse.   

Malaysia after 10.30pm at convenience stores etc. 

[natway09]

Forget about currency fluctuations as an excuse for the tourist decline & start looking at yourselves to lift your game Thailand such as taxi mafia, filthy beach water, stinky sewerage when 

walking down the street, Immigration officers manning the airport counters, police making an attempt to keep the roads safe, the rife corruption to name some,

The currency thing is turning into Thailands excuse

[Cake Monster]

8 hours ago, lamyai3 said:

What resurgence? The pound rose for about two days after the election, only to drop right back again. This press release is nonsense. 

Desperate  Dreamers.

Pattaya is really not such a nice place for cash strapped Tourists anymore. There is so much more " Bang for your Buck " in other Destinations if you have the Money for a Holiday.

The days of " The Two Week Millionaire " in Pattaya are finished. Maybe for good, but certainly for the next few Years or so , and the Pound is going to stay Low for at least another 12 Months, or until a trade Deal is done with the US and the EU

 

[kevin612]

Fake news, it is stronger baht.

[Knocker33]

10 hours ago, anchadian said:

Yes, outdated article.

 

 

50% of the articles on here are two or three days old. Just reposted from other news outlets

[kingofthemountain]

2 hours ago, stephenterry said:

I'd say it's possible that the BOT will get the nod to lower interest rates still further, and also allow investors to move (more) money out of Thailand. In that scenario the baht could fall against the pound, although I see no hope that the pound will strengthen in the medium term.

Yes you get it

everybody who has walked in his bank asked to transfer money from Thailand to abroad

know how it's a very difficult task.

If BOT is able to limit the outflux of money, they should also be able to control

the influx, nothing really too difficult here for the banks.

But i am pretty sure they don't really want for some reasons

(The 1% most rich which control the country since centuries)

[Scot123]

9 hours ago, picctrainop said:

Brexit is going to do Nothing But untold damage to The UK especially with a No Deal. The Pound will Only Bomb Further Against the Baht and All Other Currencies...

Another know it all who knows nothing. First it's the Thai baht that's over inflated (follow currency exchange rates/history). The £ was 39baht 1st Dec election rose to 40.67 and today 39.2 baht now look at usd to baht and the graph basically looks the same. Try looking at the AUs $ against £ and against the Baht. The haters just keep on hating and lie to justify their hatred. BoJo is so far doing a great job unless your German, French (EU) or simply a traitor. 

[Pedrogaz]

My goodness, they are really pumping this tourism thing.....business must be really, really bad for all this PR.

[dave moir]

You've got my sides splitting with laughter!!!

It surged up to 40.7 for approximately 1 day then dropped back down to around 39.3 so you'll get around 38.6 if you're lucky at the exchanges! 1 baht isn't going to bring tourists in their droves back to Thailand!!!!

Maybe just maybe if it went up to 50 baht to the GBP you might get some interest.

[dave moir]

47 minutes ago, Rookiescot said:

Brexit is going to do more damage to the UK than the Luftwaffe did.

Who's the traitor?

Brexit is the best thing that could happen to the UK!!! You obviously have trouble seeing past the end of your ???? if you think it's going to cause damage to the UK the damage is being done by the EU dictatorship!!!

[steve187]

1 hour ago, Rookiescot said:

Brexit is going to do more damage to the UK than the Luftwaffe did.

Who's the traitor?

if your correct, which i doubt, then at least we are doing it to ourselves, not the same country trying repeatedly to do it to us

[Daveyh]

Thailand has killed the "golden goose" & decimated the "ex pat" community too! It's a fact that life here has become very bleak for many, not only due to the exchange rates, but also the attitude, as it certainly has drastically changed from when I first arrived here on retirement 20yrs ago. It's sad really, because it was once a happy place where you felt really welcome, life was free & easy ...... everyone walked around with a smile.

 

It has changed so much & the smile has gone ....... perhaps because of the different culture shocks, not having previously experienced, having Russians, Chinese & Indian tourists instead of Europeans. It's noticeable in the town, shops or wherever you go now as locals have long become "fed up" with so many ill mannered tourists ....... sadly, when this happens all "farangs" are "tarred with the same brush". As a Brit I've noticed it on a daily basis & I must say I can't really blame the locals as I've seen some really uncalled for, unacceptable behaviour.

 

It's a well known fact that Europeans will not return any time soon, not only due to the exchange rate, but also as most people from europe are respectful & well mannered individuals who respect local inhabitants & their environment due to their own culture & beliefs, any bad reports of uncontrollable, bad mannered tourists will keep many from europe visiting Thailand. Who really wants to visit a place where the fun has long gone too? ........ holidays are fun times. The Land of Smiles has become sadly tarnished & bad press spreads quickly. That is definitely what is happening & continues, every incident becomes a serious blot on tourism here .......... people are going elsewhere & recovery will be long & painful, if at all, because of it.

 

Retirement has also become more difficult for most as their pensions have not changed since they arrived, due to most not being linked to the standard of living in their home country, but the cost of living here has. Laws have changed too, making the yearly retirement application a "cliff hanger" wondering if you will get the extension or be told to leave . The amount of monies required has doubled, embassies have closed down their services to expatriates for visa assistance etc etc ............ & so it goes on. Retirement here is not what it was & many of us have unsettled futures now wondering daily what other "hoops" we must jump through to qualify for continued retirement here. It's the "long term" retiree's I feel really sorry for who are in their twilight years, less mobile to get official things done, made this their retirement home & now living in very difficult uncertain times........... sad fact.    

[Leaver]

14 hours ago, scubascuba3 said:

Article author doesn't know about the possible no trade deal problem causing GBP to temporarily drop.

 

A necessary threat to get a good deal as opposed to a turd trade deal to be offered by EU

It will be a Mexican stand off right until the bitter end, but it's the GBP that will suffer the most from it. 

 

However, exchange rates is not Thailand / Pattaya's biggest problem. 

 

Thailand / Pattaya no longer offers a pleasant, value for money holiday, even with desirable exchange rates.

 

Thailand / Pattaya now charges high prices, but with no improvement in infrastructure, services, or amenities.  

 

 

Edited December 23, 2019 by Leaver

[Gweiloman]

3 hours ago, Daveyh said:

Thailand has killed the "golden goose" & decimated the "ex pat" community too! It's a fact that life here has become very bleak for many, not only due to the exchange rates, but also the attitude, as it certainly has drastically changed from when I first arrived here on retirement 20yrs ago. It's sad really, because it was once a happy place where you felt really welcome, life was free & easy ...... everyone walked around with a smile.

 

It has changed so much & the smile has gone ....... perhaps because of the different culture shocks, not having previously experienced, having Russians, Chinese & Indian tourists instead of Europeans. It's noticeable in the town, shops or wherever you go now as locals have long become "fed up" with so many ill mannered tourists ....... sadly, when this happens all "farangs" are "tarred with the same brush". As a Brit I've noticed it on a daily basis & I must say I can't really blame the locals as I've seen some really uncalled for, unacceptable behaviour.

 

It's a well known fact that Europeans will not return any time soon, not only due to the exchange rate, but also as most people from europe are respectful & well mannered individuals who respect local inhabitants & their environment due to their own culture & beliefs, any bad reports of uncontrollable, bad mannered tourists will keep many from europe visiting Thailand. Who really wants to visit a place where the fun has long gone too? ........ holidays are fun times. The Land of Smiles has become sadly tarnished & bad press spreads quickly. That is definitely what is happening & continues, every incident becomes a serious blot on tourism here .......... people are going elsewhere & recovery will be long & painful, if at all, because of it.

 

Retirement has also become more difficult for most as their pensions have not changed since they arrived, due to most not being linked to the standard of living in their home country, but the cost of living here has. Laws have changed too, making the yearly retirement application a "cliff hanger" wondering if you will get the extension or be told to leave . The amount of monies required has doubled, embassies have closed down their services to expatriates for visa assistance etc etc ............ & so it goes on. Retirement here is not what it was & many of us have unsettled futures now wondering daily what other "hoops" we must jump through to qualify for continued retirement here. It's the "long term" retiree's I feel really sorry for who are in their twilight years, less mobile to get official things done, made this their retirement home & now living in very difficult uncertain times........... sad fact.    

Are you saying that it’s the Russian, Chinese and Indian tourists only who are ill mannered and have thus turned the locals against all tourists? I think you are as you go on to state that most people from Europe are respectful and well mannered. If so, I put it to you then that your prejudice and racist outlook has blinded you to the facts. 
The amount of monies required for retirement has not changed for a long time. It’s is still 65k per month or 800k in the bank. I do also feel sorry for the long term retirees who are suffering financially due to adverse exchange rates. My own home currency has also dropped significantly but when I made the decision to retire here over 10 years ago, I transferred a significant portion of my funds here which I am still living on so the exchange rate has not affected me too badly. I can’t understand those expats who continue to insist on keeping their funds in their home country and complaining about the exchange rate. 

[scubascuba3]

8 hours ago, Leaver said:

It will be a Mexican stand off right until the bitter end, but it's the GBP that will suffer the most from it. 

 

 

Not necessarily, when brexit news comes out the euro moves too

[jacko45k]

17 hours ago, Neeranam said:

I hope it stays there as I'm taking my family to Scotland in March, booking very soon.

Flights in baht terms are looking much better ex BKK lately, I have been looking at Biz Class for June. 

[saengd]

12 hours ago, kingofthemountain said:

Yes you get it

everybody who has walked in his bank asked to transfer money from Thailand to abroad

know how it's a very difficult task.

If BOT is able to limit the outflux of money, they should also be able to control

the influx, nothing really too difficult here for the banks.

But i am pretty sure they don't really want for some reasons

(The 1% most rich which control the country since centuries)

Controlling the inflow of funds is very difficult, Thailand is an export driven economy and over 60% of all export trade bills are settled in USD, selling that USD and buying baht is one of the problems. BOT's answer to that was to allow exporters to hold onto their USD for longer before being forced to exchange it for Baht, exporters are also being allowed to invest that USD overseas for longer. But if you're a Thai exporter you want Baht in your pocket, not as USD in an overseas account.

 

Ditto FDI, BOT issues bonds that represent the country's debt and it wants people to buy them, the main buyers are overseas buyers.

 

Lastly, the Baht would weaken if the country imported more goods, presently there is a trade surplus and more goods are exported than imported, as a result the current account is nearly always in surplus.  These things are not a bank problem and it's not for individual banks to control, putting in place currency swaps helps, as the government has done with China, which circumvents the need to pay for exports in dollars - loosening currency controls also helps because it reduces the need to repatriate funds quickly.

[Leaver]

3 hours ago, scubascuba3 said:

Not necessarily, when brexit news comes out the euro moves too

Yes, it does, but straight after the divorce, in my opinion, the pound will not rebound as quickly, and as strongly, as the euro. 

[scubascuba3]

9 minutes ago, Leaver said:

Yes, it does, but straight after the divorce, in my opinion, the pound will not rebound as quickly, and as strongly, as the euro. 

I'll disagree with that too. Watching both currencies closely, any good brexit news the £ goes up more than the euro and don't forget other bad news ahead for the EU, for example other countries making noises about leaving

[Leaver]

2 minutes ago, scubascuba3 said:

I'll disagree with that too. Watching both currencies closely, any good brexit news the £ goes up more than the euro and don't forget other bad news ahead for the EU, for example other countries making noises about leaving

I keep an open mind about it.

 

I am not agreeing, or disagreeing.  I am only offering my opinion. and accept everyone else's. 

 

The fact is, no one really knows, for sure, how deep, and wide, the divide will be, post Brexit.  This is something only time will tell.

 

I do see Scotland as a problem for the UK.  It's quite ironic that as the UK voted to leave the EU, Scotland has basically voted to leave the UK.

 

Interesting times ahead, but one thing is for sure, the days of 70 baht to 1 GBP will not be coming back any time soon. 

[jacko45k]

3 minutes ago, Leaver said:

I do see Scotland as a problem for the UK.  It's quite ironic that as the UK voted to leave the EU, Scotland has basically voted to leave the UK.

Although a specifically worded referendum a few years ago suggested otherwise. 

To 'infer' a result that was not specifically part of the vote is desperation. 

[Neeranam]

2 hours ago, jacko45k said:

Flights in baht terms are looking much better ex BKK lately, I have been looking at Biz Class for June. 

Yes, it's wonderful,  especially British Airways. I noticed trips to London for 6,000 baht return, with limited stay.

 

Also, with the low pond and strong baht, I can help out my mother financially.

 

Our trip to the UK will save us at least 200,000 baht compared to a few years ago.

[Leaver]

7 minutes ago, jacko45k said:

Although a specifically worded referendum a few years ago suggested otherwise. 

To 'infer' a result that was not specifically part of the vote is desperation. 

That vote was before the UK Brexit referendum, and was pretty close. 

 

Now the UK is leaving the EU, if the results of the recent election were anything to go by, Scotland would be out of the UK, and would seek to become an EU member state.

 

Boris will not want to give Scotland another vote, so interesting times ahead. 

[BigC]

21 hours ago, spidermike007 said:

Sorry to say, but the high spending tourists are lost for good. They WILL NOT come back to Thailand, for a dozen different reasons. And there are alot of things they could be doing, if they were capable of reflecting, admitting their gross errors, and correcting course. Start by lowering luxury taxes. And import duty on fine wine. You then give wealthy tourists a reason to come here. They like to spend money, but they do not like being taken for a ride, and charged stupid prices. 

 

I was recently with a group of friends, and we wanted to order a bottle of wine, at of one of those high end restaurants in the EmQuartier complex. It was Bella Rocca Restaurant. I asked about a 2011 Chianti they had on the list. I was told they were out of stock. I asked about a Barbaresco, at 2,600 baht. Again, out of stock. How about this Nebbiolo? Do you have the 2010, as stated on the list? No, we only have the 2015. OK, what is that wine like? Is it drinking well now? I do not know. Is there anyone here that is familiar with this wine list? No. Sorry sir. Wait a minute. You have well over 100 bottles on this list, ranging from 1200 baht to 10,000 baht per bottle, and NOBODY who works here knows anything about the wine? Are you serious? We all just looked at each other, and got up and walked out. We realized the restaurant was a pretender. And more than likely the food was marginal at best. It was all dressed up to look like a very nice Italian restaurant. But, it appeared to be only window dressing. High end tourists have little patience for that lack of quality and lack of service. 

 

But again, the lack of vision, combined with a naive, surly, silly, churlish, and ignorant sense of nationalism, bites the country in the butt. And again, who is the loser? The Thai people. 

The entire country is suffering from a declining tourism industry. And that will not change. It is a permanent declining trend. For a hundred valid reasons. As I stated previously:

 

I have a friend who recently stayed on Samui. He stayed at a resort that has 54 rooms. Normally, they are 100% booked, from about Dec. 20th, to about January 5th. This year, they only had 22 rooms filled. They are down to 60% occupancy for the peak season. Many resorts are experiencing similarly alarming numbers. These hotels counted on the government to support them, when they spend millions on their properties, and the government has let them down, once again. They continue to drop the ball, at every opportunity. The real solution is about encouraging tourists, and ex-pats, from countries that spend real money, to come here and visit. That message seems to have gotten lost, in the fervor to court the Chinese and Indian tourists, many of whom do not spend much money at all here. Though they spend alot of money worldwide, the middle class and wealthy amongst them do not visit Thailand. And if they do visit, they never return. Hotels, restaurants, gift shops, jewelers, galleries, spas, massage shops, bars, and countless other businesses suffer, and will continue to suffer from this extreme myopia, on the part of the officials in charge of tourism. Oh well. Can't say they were not warned. 

 

The neighbors are trying too hard, and making too much effort, and investing money. Thailand is not. Though this topic relates mostly to tourism, in a way it pertains to ex-pats living here too. Thailand is making no steps whatsoever, to improve upon itself. On alot of levels, it feels like it is either standing still, or more than likely going backwards. Frankly, the biggest draw at the moment is being close to my wife's family, the food, the relatively pleasant people. But, I dislike the government, and the level of ignorance being perpetrated by the fabulously inferior educational system here does not appear to bode well for the future of the place. I also despise the practice of face, and the staggering level of cowardice that accompanies that weak, pathetic quality. 

 

It is a real shame, as I find most Thai people to be quite lovely, friendly, warm, helpful and fun to be around. There are many aspects of life here, that I truly enjoy. I am sure many feel the same way. Just wish the country was not moving backwards, (and was instead moving forward under the leadership of progressive minds) due to a system of meritocracy, and a complete lack of forward looking vision. A nice dream indeed.

 

The Thai Army. Moving the country forward? I think not. More like "Moving Thailand backwards at an alarming pace".

 

So your saying  rich tourists wont come back became  expensive  whine was too expensive?

[JonnyF]

42 minutes ago, Leaver said:

I do see Scotland as a problem for the UK.  It's quite ironic that as the UK voted to leave the EU, Scotland has basically voted to leave the UK.

Not really.

 

In 2014 Scotland voted 55% Remain in the UK vs 45% for leaving the UK

 

In 2019 55% voted for parties that opposed independence compared to 45% that support independence.

 

Even if Johnson allowed another vote (he won't), there is a high probability that they would vote to Remain in the UK again.

[SidJames]

3 hours ago, saengd said:

Controlling the inflow of funds is very difficult, Thailand is an export driven economy and over 60% of all export trade bills are settled in USD, selling that USD and buying baht is one of the problems. BOT's answer to that was to allow exporters to hold onto their USD for longer before being forced to exchange it for Baht, exporters are also being allowed to invest that USD overseas for longer. But if you're a Thai exporter you want Baht in your pocket, not as USD in an overseas account.

 

Ditto FDI, BOT issues bonds that represent the country's debt and it wants people to buy them, the main buyers are overseas buyers.

 

Lastly, the Baht would weaken if the country imported more goods, presently there is a trade surplus and more goods are exported than imported, as a result the current account is nearly always in surplus.  These things are not a bank problem and it's not for individual banks to control, putting in place currency swaps helps, as the government has done with China, which circumvents the need to pay for exports in dollars - loosening currency controls also helps because it reduces the need to repatriate funds quickly.

That will be nigh on impossible with the extreme import tarrifs imposed by the government on just about everything one would want or need.

 

[Leaver]

2 minutes ago, JonnyF said:

there is a high probability that they would vote to Remain in the UK again.

Post Brexit will be a different UK.  Maybe the Scottish will not like a post Brexit UK.  Who knows?

 

Like I said, I keep and open mind, but nothing would surprise me anymore. 

[IvorBiggun2]

26 minutes ago, Leaver said:

Post Brexit will be a different UK.  Maybe the Scottish will not like a post Brexit UK.  Who knows?

 

Why will it be different other than we won't have to answer to Brussels? When the Scots had their referendum 5 years ago Sturgeon told the Scots that 'this was a once in a generation chance to leave the Union. She lost.

I'd say she, and her followers have to wait another 25 years before they get another 'once in a generation chance' again.

As far as I'm aware the Scots also want to retain the Pound. EU says that they have to adopt the Euro. Wooops. 

Edited December 24, 2019 by IvorBiggun2

[Rookiescot]

26 minutes ago, IvorBiggun2 said:

Why will it be different other than we won't have to answer to Brussels? When the Scots had their referendum 5 years ago Sturgeon told the Scots that 'this was a once in a generation chance to leave the Union. She lost.

I'd say she, and her followers have to wait another 25 years before they get another 'once in a generation chance' again.

As far as I'm aware the Scots also want to retain the Pound. EU says that they have to adopt the Euro. Wooops. 

So because of an off the cuff remark democracy in Scotland is put on hold for 30 years?

The Scots will have several options for currency after independence. Keep the pound UK. Start a Scottish pound or indeed adopt the Euro if it suits or purposes. The EU has not said Scotland would need to adopt the Euro. Wooops.

[overherebc]

Is there a way to tie the £ to the tourist figures?