PM Srettha aims to lift Thailand to upper-income status in four-year soar

[PingRoundTheWorld]

1 hour ago, Celsius said:

Isaan girls could be making 100,000 baht a month working 7/11, but the Thai currency will most likely be worth the same as 1 Korean won.

The baht already plummeted almost 10% over the past couple of months. If he keeps at it this is just the beginning. Not that I'm complaining - cheaper everything for us.

[Xonax]

I believe he will. An economic growth of 5% per annum and a minimum daily wage of 600 baht will create inflation with increased prices everywhere. This will hit the low income earners hardest and make the gap between rich and poor even larger.

Edited October 3, 2023 by Xonax

[Eric Loh]

With higher income from jobs, there will be less prostitution. That may worry some sexpats. 

[SingAPorn]

4 minutes ago, Xonax said:

I believe he will. An economic growth of 5% per annum and a minimum daily wage of 600 baht will create inflation with increased prices everywhere. This will hit the low income earners hardest.

And discourage tourists or retirees to either come to Thailand or to use services. As it is prices have already rocketed with all the income tax perhaps ? or maybe just greed. The tailors in Bangkok or Hua Hin, Phuket etc are cheating with prices now costing the same as in Europe. And please....don't bring up that excuse "it costs more in your country".  Of course it does, that's why we come to spend here for cheaper prices and top quality. Otherwise, Malaysia, Indonesia, Cambodia, India, Vietnam and many more are all waiting for the farang retirees to come.

Edited October 3, 2023 by SingAPorn

[SingAPorn]

Just now, Eric Loh said:

With higher income from jobs, there will be less prostitution. That may worry some sexpats. 

No, prices will just inscrease for the rent-à-week/per month,  female entertainement guides. it will never be less as there is far to much money to make,.

[tkramer]

3 hours ago, spidermike007 said:

 "Perhaps...

 

   he is less intelligent than one would presume. "

Perhaps...?!!

 

 

(joking)

 

555

Edited October 3, 2023 by tkramer

[PingRoundTheWorld]

1 minute ago, Eric Loh said:

With higher income from jobs, there will be less prostitution. That may worry some sexpats. 

On the contrary. With higher unemployment, higher inflation, tax burden on legit workers, and a weaker currency - there will be far, far more prostitution. The only questions is if there'll be tourists and expats remaining to be clients (though the majority of Thai prostitution is local).

[RichardColeman]

Sounds more like a 4 year plan to put a nail in Thailand's exports to me - if they cannot get the business with lower wages being paid out, exactly what's the plan to raise exports with more expensively made products ? 

[flexomike]

23 minutes ago, connda said:

Is he a real estate salesman?

looks more like a used car salesman

[kingstonkid]

4 hours ago, peter48 said:

Great to see this party back in power again. Its like early Thaiksin or Tony Blair or Justin Trudeau. You start governing for all people not the rich elites, you reach out to the poor Northern areas too, to the low incomed and forgotten, the struggling groups barely making it through. You give people hope, you open up your country, you improve education and investment and encourage foreign investment too.  As countries improve too you introduce a dynamism; you bring down drug taking, crime and unemployment. The cynics will say blah,blah but no younger fresh new ideas will help Thailand to what it was like before the coups. This was what the Thais voted for. 

This is totally forgetting the people you are talking about.  This is going to mean less jobs for university students because mid class businesses hotels and shops will not be able to hire them.

 

Imagine somchai goes to issan mickey mouse university.  Barely graduates and goes to find a job with a BA in Arts or music.  Who can afford to hire him.  Even rotten Ronnie can't.

 

I agree that what's going to happen is matayom first year tudents are going to be recruited and hired then trained to pass necessary lincence tests.  Screw university.

[PingRoundTheWorld]

27 minutes ago, RichardColeman said:

Sounds more like a 4 year plan to put a nail in Thailand's exports to me - if they cannot get the business with lower wages being paid out, exactly what's the plan to raise exports with more expensively made products ? 

No problem- the Thai baht will crash and burn, making Thai exports cheap as chips in foreign currency, even with the higher THB prices resulting from higher wages. Of course inflation will also rise and anything imported will cost an arm and a leg - but Srettha Hood will be fine.

[metisdead]

Some posts in violation of our Community Standards have been removed.

[PingRoundTheWorld]

11 minutes ago, kingstonkid said:

Imagine somchai goes to issan mickey mouse university.  Barely graduates and goes to find a job with a BA in Arts or music.  Who can afford to hire him.  Even rotten Ronnie can't.

Reminds me of my ex who majored in English literature. I laughed the first time she told me - what the **** are you going to do with an English literature degree in Thailand? Completely useless. Since her English was pretty good she ended up working in 5 star hotels - but even they paid her less than 25k. Minimum 25k would mean the grand majority of graduates will go unemployed, while only the truly exceptional ones (or actually skilled i.e. IT etc.) will find entry-level jobs.

 

And yes, I agree- end result is that anything that can be done by a high-school graduate will be shifted to them - what's the point of hiring college graduates if you need to pay them more and train them just the same. Not that this is a bad thing - might be actually positive as Thailand and Asian in general is still hung up on degree importance while developed countries have adapted to relying more on skill and experience. (an IT worker with a few years experience is far more productive than a fresh CS graduate)

[nobodysfriend]

1 hour ago, Eric Loh said:

PM Sretha is the right man for the job. The world economy is faltering and global growth is expected to decline. Thailand is vulnerable to the slowing economic global events and a strong leader with a vision for the future will inspire others to make the vision a reality. He is setting clear directions and creating a sense of purpose to motivate those around him to take action in order to achieve the desired outcome. He is likely to have the full 4 years term to implement his policies and that is a luxury. The last government that had 4 years was a golden economic period with growth over 6%, improved income status, low employment and lower income inequality. Thailand must move up the value change and move out of being a low wage production country. Businesses that still rely on low wages will have to look hard to improve their productivity or move to lower wage countries. His bottom-up economics is the right approach for Thailand and will have significant benefits on income and equality. 

 

Did you forget Thailand's big neighbor ?

Businesses want to make money . Producing in countries with low wages maximizes their profit .

They will not produce in Thailand if the costs are too high .

High tech is an exemption to that rule , but Thailand is no high tech producing country yet .

Transforming Thailand into a high wage country will take decades , 4 years won't be enough .

Srettha wants Tesla Microsoft etc ... they produce high tech , but would the average Thai profit from that ?

I doubt that .

[BE88]

Okay, I'll wait  next year

[PingRoundTheWorld]

5 minutes ago, nobodysfriend said:

High tech is an exemption to that rule , but Thailand is no high tech producing country yet .

High tech is just as much a matter of attitude and motivation and drive as it is a matter of education. I'm sure there are exemptions and some Thais who are driven, but for the most part I haven't seen the kind of drive that will push forward a high tech industry, and startups specifically. A few here and there - sure - but not an entire industry. A startup needs many things: seed capital, talented and experienced workforce, motivated founders with innovative ideas, favorable business and tax environment, etc. Thailand has some of those, but not in sufficient quantities IMHO.

 

Becareful what you wish for though - a small high tech sector dragging up salaries, cost of living, and inequality is not necessarily a good thing. It will benefit a minority but make life harder for the rest of Thais.

[SingAPorn]

1 hour ago, RichardColeman said:

Sounds more like a 4 year plan to put a nail in Thailand's exports to me - if they cannot get the business with lower wages being paid out, exactly what's the plan to raise exports with more expensively made products ? 

increase salary but lower the thb value to compensate and crash the prices... 1 us$ should yield 45 thb. but if prices increase it will benefit to exports but definately not to the foreigners who will be financing the whole scheme. a weaker thb does not mean cheaper prices and tourists will soon realise and retirees will sell and leave.

[Nickcage49]

600 baht is 'upper income status"?

 

Hilarious!

[cncltd1973]

the steps for success are

1. education

2. innovation

 

somehow, simple minds in politics still overlook this simple 2 step process.

"raising wages" accounts for rising inflation, politicians act like its a cookie they give you but it's just a reaction to money not being worth as much

[kimamey]

9 hours ago, bamnutsak said:

I want what he's smoking.

 

 

I expect you'll need a prescription for that. 

[Phil1964]

5 hours ago, spidermike007 said:

Quite a simple minded thing to say. Perhaps he is less intelligent than one would presume. 

 

It is going to take a lot more than wishful thinking to elevate Thailand to upper income status. Outstanding, effective, intelligent policy, great planning, lowering luxury taxes, lowering import taxes overall, making Thailand the dynamic nation that it once was.

 

After the Prayuth  decimation all bets are off. 

You forgot the two key things to add on your list...

1) A skilled labour force for the modern era.

2) Eradicating widespread, top down corruption.

 

 

[paul1804]

He should start by sacking all those useless senators getting paid 120,000 a month 

[Kalasin Jo]

From what I hear he and his coalition government are not popular. No surprise there, the Thai voters didn't vote for him. It doesn't matter whether this is achievable or if it is,  the complex knock on effects others here have highlighted. At this point what matters is the up front appeal to the disgruntled masses.

[MangoKorat]

400 baht per day won't raise tax revenue - people will still be outside the tax threshold.

[ikke1959]

An upper income of 600THB no paid holidays and a pension of 3000THB. A month?  Good luck.

 

I see it differently as many here think that wage raise will make things more expensive. I don't think so. Now there are as example 4 people working in a car wash. At 400THB a day is 1600THB for the owner to pay.  But when the salary will be 600THB a day he will pay for 3 people 1800THB.he will fire one and the personnel will be working better and harder than playing on their cell phone to keep their job. Not much more expensive for the owner and the ones fired can do other jobs instead of the immigrant workers. Same for many other stores, where there are too many people employed for playing on their cell phone or talking.  Changes must be made

[itsari]

11 hours ago, Ben Zioner said:

Mr Amateur PM, you ought to know that higher incomes comes only to and efficient and well trained workforce. Whatever  money you steal from the middle classes to redistribute to no hopers via commie schemes will only make things worse.

The Priminister does speak of what is required in Thailand  

Take notice if you want to withdraw from the inevitable.

 

[Srikcir]

9 hours ago, peter48 said:

Great to see this party back in power again. Its like early Thaiksin or Tony Blair or Justin Trudeau. You start governing for all people not the rich elites, you reach out to the poor Northern areas too, to the low incomed and forgotten, the struggling groups barely making it through. You give people hope, you open up your country, you improve education and investment and encourage foreign investment too.  As countries improve too you introduce a dynamism; you bring down drug taking, crime and unemployment. The cynics will say blah,blah but no younger fresh new ideas will help Thailand to what it was like before the coups. This was what the Thais voted for. 

So many "wonderments."

No mention of specific training, skills or advanced opportunities. Just a "word salad" of vague concepts that won't improve income inequality for the near future.

[Gknrd]

Typical politician talk.. Nothing new here.  Before long you will see him actually in the plane with the Chinese tourists leading the Karaoke sing along. 

Edited October 3, 2023 by Gknrd

[Iron Tongue]

Sounds to me like the same pitch that was used to create Malaysia's 1MDB sovereign investment fund.

Look how that turned-out.

 

[Ben Zioner]

18 hours ago, Celsius said:

Not on my dime you won't.

 

If you want me to be tax compliant I expect nothing less than a PR status in Thailand.

No you don't want that, nor  Thai nationality. We only want a  visa status that exempts our pension from income tax.