Thai economy seen back to pre-pandemic levels in first quarter, 2023

[MaxYakov]

It must be the epidemiologists, doctors and vaccine producers at the 'Central Bank of Thailand' that are making this prediction, huh?

[DaLa]

17 hours ago, rumak said:

 

i ( and many others,  especially Thais,  but some farang business people as well) feel your pain.       I am not sure if you care to satisfy my curiosity....... what business and where ?

 

our rentals in CM  we have lowered the rents 20 %  to keep them occupied.  restaurants and entertainment places........mostly gone or going.     Yep,  all to keep us alive .   Well, retirees with pensions really are not affected financially............ don't think they cared at first,  but life like this sure isn't the dream we all hoped for.   Nor the average thai person (IMO)

 

 

I export antiques from the UK, my wife and family have 6 shops around Bangkok (Chatuchak) and Nonthaburi. Thus I would consider it a Thai based business. 99% of our customers are Thai; generally wealthy Thai (including customers from the very very top without mentioning too much detail) as the product is definitely non-essential.

 

Our turnover is running at about 10-12% of 2 years ago. We built a shop last year and took out a loan to complete the work, That loan still needs paying and the rents at Chatuchak have not been reduced. I'm sure most will see the inevitable result of that scenario.

 

Firstly the bar, restaurant and hotel owners from the tourist locations came and spent their money in Bangkok, a portion of that money then filtered through to our business, then we would travel, eat out , buy cars etc. Her family would pay for schooling etc. Slowly but surely all but the large companies are being destroyed and the way back is going to take twice as long as the decline.

 

Luckily with 30 years of self employment I had finely tuned my SWOT analyses, plus  I also have a very reliable and generous pension pot. My wife and family are great troopers having lost all once before in the 2004 tsunami and start each day with optimism, something I couldn't do, sat in a shop and only serving 1 customer every few days.

 

I'm not going to comment on the statistics of C-19 or indeed the strategy to deal with it, save to say it wasn't me that introduced it to the world and thus I'm a bit miffed about the restrictions in my life I'm subjected to.

 

I'll anticipate the usual deluge of opinion from the various Covid-19 camps and mention I don't know anyone that has had the disease or died from it in the last 18 months, that badge of honour goes to cancer, thankfully I don't know anyone thats died of heart disease either.  I do understand apparently that the human body does succumb at some point. Preferably not by boredom.

[Redline]

Variations of the virus will be floating around Thailand for years because of the Chinese vaccines.  Hopefully, they will procure mRNA vaccines for boosters later, but they don't come with the extra cash to send offshore

[rumak]

1 hour ago, DaLa said:

Slowly but surely all but the large companies are being destroyed and the way back is going to take twice as long as the decline.

 

from your well-written post I think you are surely capable of making the right decisions ....

as we see just how bad this state of affairs is going to get.  

funny how different our stories are ,  except for the self-employment part.   I had a coffee shop,  a jewelry (imported from Thailand) business,  and bought and sold real estate.

All made money,  but never a big big payoff.   Since I have been here 30 years I have stuck

with living within my means ......... the simple life style way .  But having FREEDOM to do things my way makes it all worth it.    I am ready to sell off our real estate here (in the process) as

my age and willingness to deal with the world ( and the covid world at that ! )  are seeking

a quite place to walk,  ride a bike,  and yes.....be a bit bored. 

It pains me to see the increasing stress on the "small people" ........... how true the age old saying "the rich get richer...etc "

I too will not comment on the covid situation.   Free speech another victim of the new world order.       

[elliss]

12 hours ago, poskat said:

What was the method used to determine the date of the economic recovery, spinning a wheel of fortune or throwing a dart at a labelled dartboard?

 

    In the UK . 

     Mystic Meg ,  is the preferred Norm , in Westminster ..

      Surely , the Thai Junta , must give Mystic Meg,  a chance ....

       Nothing ventured , etc ....