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Warning from Pattaya hotel industry boss of a Chinese takeover, loss of income to the economy


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Posted
2 hours ago, DirtyHarry55 said:

Might be related topic below.

From what I've heard China's been buying up a lot of land in company name as well.

Won't be long before Asean becomes China-ASEAN.

 

A natural development geographically . Inevitable considering the growth of the country financially over the past 40 years . 

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Posted
2 hours ago, DirtyHarry55 said:

Might be related topic below.

From what I've heard China's been buying up a lot of land in company name as well.

Won't be long before Asean becomes China-ASEAN.

 

Only foreigners who own a BOI approved company can buy land (100% ownership)

 

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Posted (edited)
3 hours ago, nausea said:

The Chinese can't own land, right? In fact, wasn't that why the ban on owning land was introduced in the first place, with us Farangs being collateral damage, so to speak.

They have ways around that. Many luxury houses near us have been bought up by a Chinese gang,. They came around here the other day taking photos of all the houses and asked us if our house was for sale. They have Thais to manage the houses which are then rented out to Chinese people. 

 

Yes, the company buys the properties. The website of the company mentions that they have a private jet, private helicopters and yachts and luxury cars (Rolls Royce, Porche etc.). Yes, it's all true. I happen to know someone who works for them and that person posts photos of the private jet and other houses on Facebook. 

 

When they start to buy the hotels we will see an invasion of Chinese tourists

Edited by petedk
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Posted
4 hours ago, webfact said:

A leading hotel and tourism industry leader in Pattaya has warned the government that many property owners are on the verge of selling out to foreign investors, particularly in China, as prospects for a recovery of foreign tourism are again receding. Mr Phisut Sae-khu of the Thai Hotels Association said such an outcome would mean a permanent, ongoing and irrecoverable loss to the wider Thai economy going forward.

I guess a little veiled scare tactic might get them somewhere.

Posted

55555....Too late.....sorry, they are already there and will never return....Learn Chinese.....they have money, lots of money.....deal with it!

Posted
11 hours ago, nausea said:

The Chinese can't own land, right? In fact, wasn't that why the ban on owning land was introduced in the first place, with us Farangs being collateral damage, so to speak.

Where there's a will there's a Wong ..............................and likely a Wang not far behind

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Posted
12 hours ago, webfact said:

achieving herd immunity as defined by the Thai government.

I‘m not sure whether this is the right institution to define herd immunity.

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Posted

This is why China has not yet, gone out to invade another country with its military. China just buys 

  many assets of another country, and basically owns that other country indirectly.

   Pretty clever.  I am impressed with the Chinese military, and the fact that their spqce industry 

is very advanced as well. China will have its own version of a space station soon, as it likes its

own control, and not some other country.  A bit scary, but this is the world we live in. After all the Taliban has

taken over Afghanistan again.  Just more to think about.  Good Luck Thailand.

Geezer

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Posted
8 hours ago, placnx said:

Actually, a lot of chains only manage, and do not own the property or buildings. What you cite is completely,  different from the alleged situation in Pattaya.

100 % correct, they rent the real estate.

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