Tourism can help drive Thai economy - Chinese investors are ready

[webfact]

Tourism can help drive Thai economy - Chinese investors are ready

 

 

Thai media reported again that opening the country to tourism was a key way to drive the economy forward.

 

Channel 7 reported on estimates from one of the country's largest banks - Krungsri (Bang of Ayudhya) - who said that the economy had contracted 6.4% this year with the export sector down 7.5%. 

 

Much of the economy was still fragile with rising household debt a concern. They expected slow tourism recovery next year and cautioned investors to keep a wary eye on vaccine developments and matters like Brexit. 

 

Thai Chinese Chamber of Commerce president Narongsak Phutthaphrommongkhon - who elsewhere has been promoting the idea of travel bubbles for Chinese tour groups to visit Thailand including a pilot project for Phuket - said that Chinese investors were ready to put their money into Thailand. 

 

This and a steady return to mass tourism could be a key driver of recovery in the Thai economy. 

 

Source: Channel 7

 

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[Thailand]

                                                                   ????

[phetphet]

18 minutes ago, webfact said:

Chinese investors were ready to put their money into Thailand. 

Of course they are.  Ready to sweep in and buy up everything for peanuts when everyone is desperate to sell. Saw that coming a mile off.

[RotBenz8888]

23 minutes ago, webfact said:

said that Chinese investors were ready to put their money into Thailand. 

 

I love you, China. 

[Pravda]

I'm reading some news about Canada and how they plan to tax non residents for property purchases. 

 

They have been also taxing them for years on empty units and non resident transfer tax fees. 

 

This is on top of regular property tax that everyone has to pay. 

 

So when Western countries become unfriendly to foreign investment then why shouldn't they invest in Thailand? I see nothing here to lol about when your own countries (in this case Canada) only understand how to tax. 

 

And people complain about dual pricing in Thailand. 

[ezzra]

Read what is going on between Australia and China the war or words and innuendos and trade embargo on Aussie products where China is bullying Australia after they have bough half of Australia land and business, those "Chinese investors " are like a caner taking over the body bit by bit... 

[Scot123]

3 hours ago, Pravda said:

I'm reading some news about Canada and how they plan to tax non residents for property purchases. 

 

They have been also taxing them for years on empty units and non resident transfer tax fees. 

 

This is on top of regular property tax that everyone has to pay. 

 

So when Western countries become unfriendly to foreign investment then why shouldn't they invest in Thailand? I see nothing here to lol about when your own countries (in this case Canada) only understand how to tax. 

 

And people complain about dual pricing in Thailand. 

This is rather bizarre trying to compare canada to Thailand in a feeble attempt at justification. I never new you had to give a canadian half your business or that you cannot buy a house to live in and that they have an upto 300% luxury tax on good not made in Canada and citizenship was near impossible... well you live and learn. 

[Justgrazing]

4 hours ago, webfact said:

Tourism can help drive Thai economy

 

hopefully without flattening any power poles or ending up on its side in a ditch .. 

[PatOngo]

5 hours ago, webfact said:

Much of the economy was still fragile with rising household debt a concern.

That would seem to mirror the attitude of the Chinese communist authoritarian rulers of late!

[PatOngo]

5 hours ago, webfact said:

said that Chinese investors were ready to put their money into Thailand. 

Insurgency!

[yellowboat]

5 hours ago, webfact said:

Thai Chinese Chamber of Commerce president Narongsak Phutthaphrommongkhon ..... said that Chinese investors were ready to put their money into Thailand. 

How do you say "fire sale" in Chinese?   They will snatch up everything.  It looks like the average Thai will have less of his country to buy.   

[klauskunkel]

5 hours ago, webfact said:

Tourism can help drive Thai economy

I am slowly arriving at the opinion that tourism may be important for the Thai economy. 

[metisdead]

A post containing unattributed content that was copy and pasted from some site has been removed:

14) You will not post any copyrighted material except as fair use laws apply (as in the case of news articles). Please only post a link, the headline and the first three sentences.

[mr_lob]

They will be doing more of this around the World. Gotta love that CCP and their long term plans...vile

[Ireland32]

Chinese investors are ready to Scavenge all businesses 

[Cake Monster]

7 hours ago, webfact said:

Thai Chinese Chamber of Commerce president Narongsak Phutthaphrommongkhon - who elsewhere has been promoting the idea of travel bubbles for Chinese tour groups to visit Thailand including a pilot project for Phuket - said that Chinese investors were ready to put their money into Thailand. 

Power speak for Chinese Investors are ready to suck the life Blood from the Thai Tourist Sector.

[AlfHuy]

And they will bring their own jet-ski pilots, bus conductors and and and.

 

Just call it another Ch.   province.

[hotchilli]

8 hours ago, webfact said:

Thai media reported again that opening the country to tourism was a key way to drive the economy forward.

There it is the truth is out... tourism is the driver of the nation not the other side shows called production, import/export, manufacturing, 

[hotchilli]

7 hours ago, ezzra said:

Read what is going on between Australia and China the war or words and innuendos and trade embargo on Aussie products where China is bullying Australia after they have bough half of Australia land and business, those "Chinese investors " are like a caner taking over the body bit by bit... 

That's how China does it, comes in with billions of investments and when they run most of your economy up goes the new flag.

[sscc]

5 hours ago, hotchilli said:

That's how China does it, comes in with billions of investments and when they run most of your economy up goes the new flag.

 

Which countries have changed the flag to China flag ? 

You can name some of them for us ? 

Or no way,  you cannot find any to name. 

[hotchilli]

7 hours ago, sscc said:

 

Which countries have changed the flag to China flag ? 

You can name some of them for us ? 

Or no way,  you cannot find any to name. 

Cambodia is well on the way.

[mikebell]

Colonialism - Communist style. Ruin the World's economy then profit from the devastation.

[mfd101]

I wonder what will happen when, one day, 20 million Chinese tourists simply refuse to leave when their visas run out. And - horror of horrors! - they refuse to do their 90-day report!

[DLock]

On 12/3/2020 at 2:54 PM, mr_lob said:

They will be doing more of this around the World. Gotta love that CCP and their long term plans...vile

 

Why is it "vile"? Why do you blame the Chinese?

 

Surely they are just taking advantage of greedy countries and opportunities where they exist to expand and invest. They are not breaking any laws. In fact this very article shows that they are being courted to return and invest more...

 

One could even consider them smart.

 

Why do you dislike the Chinese so much?

[herfiehandbag]

On 12/3/2020 at 5:08 PM, hotchilli said:

There it is the truth is out... tourism is the driver of the nation not the other side shows called production, import/export, manufacturing, 

In a way yes. Production, import/export, manufacturing, retail and most other businesses, and their profits, are predominantly in the hands of a small number of extremely wealthy clans. They employ large numbers of people, but for many the wages are low - the statutory minimum wage is effectively a standard wage. Whilst tourism only accounts for between 15 and 25% of the GDP (the figures vary depending on reports) it has a much wider business ownership, is predominately small businesses, and generates a widely distributed cash flow throughout the country . It has a disproportionately greater effect and benefit upon the population.

[herfiehandbag]

55 minutes ago, DLock said:

 

Why is it "vile"? Why do you blame the Chinese?

 

Surely they are just taking advantage of greedy countries and opportunities where they exist to expand and invest. They are not breaking any laws. In fact this very article shows that they are being courted to return and invest more...

 

One could even consider them smart.

 

Why do you dislike the Chinese so much?

Perhaps because, having unleashed the Covid 19 virus upon the world, (wittingly or unwittingly - the jury is rather "still out" on that one) they are now taking economic advantage of the havoc which it has wrought? Just a passing thought.

[Virt]

Reminds me of this old joke from the 80s or so, which has some truth to it. 

 

Why does the Chinese never win a soccer match? 

 

Because each time they get a corner they open a restaurant. 

[mr_lob]

2 hours ago, DLock said:

 

Why is it "vile"? Why do you blame the Chinese?

 

Surely they are just taking advantage of greedy countries and opportunities where they exist to expand and invest. They are not breaking any laws. In fact this very article shows that they are being courted to return and invest more...

 

One could even consider them smart.

 

Why do you dislike the Chinese so much?

I don't dislike the Chinese. I detest  the CCP. If you really need me to explain why, then you know nothing about them

[DLock]

1 hour ago, mr_lob said:

I don't dislike the Chinese. I detest  the CCP. If you really need me to explain why, then you know nothing about them

 

You would probably be surprised what I know.

 

But feel free to educate me on the CCP and why they are vile, in relations to tourism and investment in Thailand...

[herfiehandbag]

55 minutes ago, DLock said:

 

Why is it "vile"? Why do you blame the Chinese?

 

Surely they are just taking advantage of greedy countries and opportunities where they exist to expand and invest. They are not breaking any laws. In fact this very article shows that they are being courted to return and invest more...

 

One could even consider them smart.

 

Why do you dislike the Chinese so much?

Perhaps because, having unleashed the Covid 19 virus upon the world, (wittingly or unwittingly - the jury is rather "still out" on that one) they are now taking economic advantage of the havoc which it has wrought? Just a passing thought.