query on 30 year leases to chinese in thailand

[watgate]

In talking to a financially astute individual awhile ago he said that many chinese investors throughout Thaiand are acquiring properties utilizing a 30 year lease option. In fact a rundown boutique hotel in chiang mai which was in disarray and closed for many years was acquired by a chinese investor and was impressively renovated utilizing a 30 year lease. When now opened his customer base is almost exclusively Chinese tourists,

 

     Besides the chinese investor who holds a 30 year lease on this property, who else stands to gain financially?  From what I can ascertain this  boutique hotel was being utilized almost exclusively by chinese tourists either through tour groups or the occasional independent chinese tourist. Obviously business is  slow  now, as it is throughout Thailand due to the corona virus but I am wondering does the Thai government realize any substantial revenues  from this boutique hotel? It would seem that if this hotel was being used primarily by chinese tourists on packaged tours paid in China  that most of the revenue goes back to  China. 

 

     Lastly, this finance individual said that as more and more properties throughout Thailand are being taken over by chinese investors via 30 year leases and their clout grows, laws can change down the road and these properties which have been acquired by the chinese can potentially revert to ownership by the chinese.

 

     I am not a finance guy but this scenario does seem like a possible outcome. I would like to get some folks opinions who are well versed in financial matters. Yes I am sure there will be posters who will say I am a  racist for inquiring about what is currently going on but. nevertheless I would like to know if the trojan horse has been unleashed in Thailand and is Thailand on a fast track to becoming another country that will be taken over by the Chinese hegemony which is rapidly occurring throughout SE Asia.  

 

     I have serious concerns because profits and greed trump all in Thailand so I am not very optimistic about the future in Thailand. Hopefully I am wrong and someone can enlighten me.

Edited February 15, 2020 by watgate

[bkk6060]

20 minutes ago, watgate said:

would like to know if the trojan horse has been unleashed in Thailand and is Thailand on a fast track to becoming another country that will be taken over by the Chinese hegemony which is rapidly occurring throughout SE Asia.  

 

Well yes of course.

70 to 80% of the condo sales available to foreigners have been purchased over the past few years by Chinese.  They will take it over just like they have Cambodia.

 

As far as your profits and greed statement...

You, your family and your country do not care about money?   If one does not care about money and puts down others for seeking it, they probably have no ability, sense or education to make it. If that is the case, maybe join the Peace Corp. and spend your life helping others.  Until then, stop kidding yourself.  Money is God throughout the entire world like it or not.

Edited February 15, 2020 by bkk6060

[jimn]

Have you never heard of "zero baht tourism" from China? If not then you have been living in a bubble. Its very common in the main tourist areas Pattaya, Bangkok and Phuket. Chinese owned tour operator, visiting Chinese owned shops, staying in Chinese owned hotels, eating in Chinese owned restaurants. All the profits go back to China. The Thai government are aware of it but ignores it. TAT have to keep up their lies about tourism.

[Beggar]

1 minute ago, jimn said:

Have you never heard of "zero baht tourism" from China? If not then you have been living in a bubble. Its very common in the main tourist areas Pattaya, Bangkok and Phuket. Chinese owned tour operator, visiting Chinese owned shops, staying in Chinese owned hotels, eating in Chinese owned restaurants. All the profits go back to China. The Thai government are aware of it but ignores it. TAT have to keep up their lies about tourism.

In Pattaya the Chinese even had a fake temple 

 

 

[baansgr]

The Thai owner who leased the property is the first to benefit. Of course, cleaners, maintenance staff, the tour bus drivers, the staff at events they are visiting...need I go on..many Thais are profiting, including the government...tax on diesel and other products purchased and made in Thailand...You need to look further than..they paid a Chinese company for a holiday...its the whole cottage industry attached to them visiting that benefits....If Thais didn't benefit, why have so many been put out of work because of the Chinese not coming the past month?

Edited February 16, 2020 by baansgr

[SiSePuede419]

They said the same thing about the Japanese taking over America back in the 80's.  Didn't happen.

 

Most corporations are multinational.  So what?

 

Who did the Chinese hire to renovate their property? 

 

Did they bring in "Coolies" from China to do the work or hire locals?  ????

 

How about the remodeling materials?  Smuggled into Thailand under a shipment of iPhones or purchased locally? ????