It seems a day doesn't go by when I don't read a report on Thailands attempts at attracting so called High net-worth individuals.

 

What is this obsession with attracting these folk all about?

 

On paper I think I understand it.

They think that rich people coming here will spend more money.

 

What Thailand doesn't seem to understand is that the vast majority of this group are the tightest people you have ever met in your life.

they never tip, they love a bargain and cut corners wherever and whenever they can.

and they certainly do not like paying tax, and will do literally anything to avoid doing so.

'You don't get rich by giving it away' is their motto.

 

I almost consider myself to be in this category, though not quite..

 

Back when the story first broke about Thailand's plan to tax foreigners on their income earned overseas I slowly started liquidating all of my assets, both inside and outside of Thailand.

It was a long, arduous process that involved trusted friends and family, both here and abroad to help me out.

of course they all got a nice slice of the pie but ultimately I was left with just over 700,000 USD, that I now keep locked away in my safe.

The reason I did this was because I didn't want to pay tax!

 

I believe that many high net worth folk also think along the same lines.

if there is one thing these lot hate it's paying more tax.

so you see Thailand, by announcing such a ridiculous policy aimed at lining your own pockets you will have inadvertently put many of your so called wealthy targets off from coming here all together!

 

imo, Thailand would be much better off going after the backpackers again.

they are young, dumb and throw their money around like confetti in large numbers.

I think Thailand also needs to realize they are not Monaco or Luxembourg.

They are a middle of the road South East Asian country with a developing economy that is currently struggling to stay afloat.

 

bob.

The whole society is based on "appearance of wealth," brand tags, etc, money, cars - red tags Money rules here in almost every facet of life. The "hi-so" appearance etc. Image (face) is everything.

Commit a crime, goes straight to "whats it worth" - compensation and so on. Pay the victim and the crime goes away.

 

Superficial, shallow nonsense.

3 minutes ago, CharlieH said:

Superficial, shallow nonsense.

I agree.

 

bob.

41 minutes ago, bob smith said:

It seems a day doesn't go by when I don't read a report on Thailands attempts at attracting so called High net-worth individuals.

 

What is this obsession with attracting these folk all about?

 

On paper I think I understand it.

They think that rich people coming here will spend more money.

 

What Thailand doesn't seem to understand is that the vast majority of this group are the tightest people you have ever met in your life.

they never tip, they love a bargain and cut corners wherever and whenever they can.

and they certainly do not like paying tax, and will do literally anything to avoid doing so.

'You don't get rich by giving it away' is their motto.

 

I almost consider myself to be in this category, though not quite..

 

Back when the story first broke about Thailand's plan to tax foreigners on their income earned overseas I slowly started liquidating all of my assets, both inside and outside of Thailand.

It was a long, arduous process that involved trusted friends and family, both here and abroad to help me out.

of course they all got a nice slice of the pie but ultimately I was left with just over 700,000 USD, that I now keep locked away in my safe.

The reason I did this was because I didn't want to pay tax!

 

I believe that many high net worth folk also think along the same lines.

if there is one thing these lot hate it's paying more tax.

so you see Thailand, by announcing such a ridiculous policy aimed at lining your own pockets you will have inadvertently put many of your so called wealthy targets off from coming here all together!

 

imo, Thailand would be much better off going after the backpackers again.

they are young, dumb and throw their money around like confetti in large numbers.

I think Thailand also needs to realize they are not Monaco or Luxembourg.

They are a middle of the road South East Asian country with a developing economy that is currently struggling to stay afloat.

 

bob.

more BS from you Bob. Back then your claim was you had enough of thailand and were leaving forever. You claimed to liquidate your VAST real estate holdings in Thailand in an overnight instant and left. Had nothing do with the tax situation being discussed. But you lasted about a week and came back unfortunately, (unless you never left). You also claimed back then you had 800k in that safe. I guess your alcohol riddled brain cant keep your stories straight. 

16 minutes ago, Dan O said:

more BS from you Bob. Back then your claim was you had enough of thailand and were leaving forever. You claimed to liquidate your VAST real estate holdings in Thailand in an overnight instant and left. Had nothing do with the tax situation being discussed. But you lasted about a week and came back unfortunately, (unless you never left). You also claimed back then you had 800k in that safe. I guess your alcohol riddled brain cant keep your stories straight. 

...you are now officially my number one stalker.

 

congratulations, Dan!

 

bob.

Bob Would  you please put some clothes on.

1 minute ago, EVENKEEL said:

Bob Would  you please put some clothes on.

not a chance!

 

my house, my rules.

 

I'm thinking about covering myself in peanut butter and jelly in a minute..

bob.

Where is this safe Bob?

Asking for a friend!

Just now, bignbad said:

Where is this safe Bob?

Asking for a friend!

...in one of my safe houses!

 

bob.

18 minutes ago, bob smith said:

not a chance!

 

my house, my rules.

 

I'm thinking about covering myself in peanut butter and jelly in a minute..

bob.

Get your freak on, my man.

2 minutes ago, EVENKEEL said:

Get your freak on, my man.

I gave my anal beads a clean as well last night..

 

bob.

Bob likes to tell us he is rich. Repeatedly. Unfortunately he is a lot like the little boy who cried wolf. 

1 minute ago, marin said:

Bob likes to tell us he is rich. Repeatedly. Unfortunately he is a lot like the little boy who cried wolf. 

...if you consider 700,000 usd rich then you know nothing about money.

 

bob.

1 minute ago, bob smith said:

.if you consider 700,000 usd rich then you know nothing about money.

 

bob.

Then why do you keep posting it up. Because is a small amount?🙃

 

Seems like you are digging holes as well as spinning yarns. 

 

 

7 minutes ago, marin said:

Seems like you are digging holes as well as spinning yarns. 

oh i'm digging holes alright..

 

just not the kind you are thinkin of!

 

bob.

1 hour ago, bob smith said:

...you are now officially my number one stalker.

 

congratulations, Dan!

 

bob.

just the facts bob, just the facts   nothing more as its a open public  forum

Old HNW (for 20 - 30 years ago) meant a million USD liquid.. In financial services these days HNW is the old VHNW 5m and up of liquid assets. 

 

If you think people with 5m DONT spend more than the 65k grumbling retirees or backpackers you are deluided.. You think they will go around in a beaten up camry or stay in 500b / 1000b rooms ?? 

 

Thats why Thailand wants them. 

 

 

2 hours ago, bob smith said:

I'm thinking about covering myself in peanut butter and jelly in a minute..

Goobers! Yuk. 

3 hours ago, bob smith said:

...if you consider 700,000 usd rich then you know nothing about money.

 

bob.

Lay off the naughty things Bob, last time your net worth was 800K.

20 minutes ago, EVENKEEL said:

Lay off the naughty things Bob, last time your net worth was 800K.

that was before family tax.

 

if you must know I gave my cousin 50 grand who is on her last legs, but 2 new rolexes and spent the rest on booze, women and clothes.

 

bob.

1 minute ago, bob smith said:

that was before family tax.

 

if you must know I gave my cousin 50 grand who is on her last legs, but 2 new rolexes and spent the rest on booze, women and clothes.

 

bob.

Very nice, time to spend is now. 

5 minutes ago, EVENKEEL said:

Very nice, time to spend is now. 

oh, and I bought a new pool table too.

 

7 footer!

 

bob.

4 hours ago, bob smith said:

not a chance!

 

my house, my rules.

 

I'm thinking about covering myself in peanut butter and jelly in a minute..

bob.

Can you also supply the bread, so I can make a meal of yourself. 

Thailand attracts infinitely fewer wealthy tourists than it used to. This will not be reversed until the authorities wake up and make some sacrifices such as lowering luxury taxes, lowering wine taxes, cleaning up the air, making the highways safer, allowing more private air travel, helicopter travel, high-speed trains and alternatives to the totally choked and extremely hazardous highways. 

 

People with money do want a better experience than what Thailand has to offer. Granted there are very high-end villas here and there are alot of very high-end hotels here, but for the most part the concierge services are lacking, the sommelier service is horrific, the selection of fine wines (nearly every wealthy tourist drinks a good bottle at dinner) is horrific, the price of the fine wines is stupid, it's very difficult for a wealthy person to hire a helicopter or private plane to fly from one part of the country to another, the highways are completely choked with small trucks due to successive administrations ignoring the issue of cargo movement for seven decades, and the air quality stinks. I could go on look.

 

I'm still living here, I love it here, but I have a lot of issues and if I were a tourist or expat with real wealth, Thailand would not be my first choice as a primary destination. I might spend two or three months of the year here. And I would be elsewhere the rest of the time. 

 

 

 

 

 

 

13 hours ago, bob smith said:

that was before family tax.

 

if you must know I gave my cousin 50 grand who is on her last legs, but 2 new rolexes and spent the rest on booze, women and clothes.

 

bob.

fake rolex watches arent that expensive bob. your imagination is constantly challenged by facts. 

Last time I read something from BOB he was like leaving town sold everything he was gone then less than 48 hours he decided to come back making up these ridiculous stories. You must lead a very boring lifestyle TIT.

56 minutes ago, spidermike007 said:

the sommelier service is horrific, the selection of fine wines (nearly every wealthy tourist drinks a good bottle at dinner) is horrific, the price of the fine wines is stupid, o 

 

 

 

 

 

 

I practically never stay above The Marriot Hotel level, but when I do, stuff like wine and 5* restaurants seem exactly on par with the west (a little cheaper on the food).

 

A Richie-Rich would be staying at the Four Seasons (not the landscaping company). I'll bet they're pretty happy with everything. And not sweating the wine markup. 

 

If you're what the brokers call "Mass Affluent" ($2-5M), Bangkok gives you Monaco luxury at Barbados prices.

 

I can't pretend that I know the favored haunts and spending habits of the Jeff Bezos-rich.

 

They're probably staying at a private home and traveling with staff. So wherever they are, really, they could be anywhere.

 

 

20 hours ago, bob smith said:

It seems a day doesn't go by when I don't read a report on Thailands attempts at attracting so called High net-worth individuals.

 

What is this obsession with attracting these folk all about?

 

On paper I think I understand it.

They think that rich people coming here will spend more money.

 

What Thailand doesn't seem to understand is that the vast majority of this group are the tightest people you have ever met in your life.

they never tip, they love a bargain and cut corners wherever and whenever they can.

and they certainly do not like paying tax, and will do literally anything to avoid doing so.

'You don't get rich by giving it away' is their motto.

 

I almost consider myself to be in this category, though not quite..

 

Back when the story first broke about Thailand's plan to tax foreigners on their income earned overseas I slowly started liquidating all of my assets, both inside and outside of Thailand.

It was a long, arduous process that involved trusted friends and family, both here and abroad to help me out.

of course they all got a nice slice of the pie but ultimately I was left with just over 700,000 USD, that I now keep locked away in my safe.

The reason I did this was because I didn't want to pay tax!

 

I believe that many high net worth folk also think along the same lines.

if there is one thing these lot hate it's paying more tax.

so you see Thailand, by announcing such a ridiculous policy aimed at lining your own pockets you will have inadvertently put many of your so called wealthy targets off from coming here all together!

 

imo, Thailand would be much better off going after the backpackers again.

they are young, dumb and throw their money around like confetti in large numbers.

I think Thailand also needs to realize they are not Monaco or Luxembourg.

They are a middle of the road South East Asian country with a developing economy that is currently struggling to stay afloat.

 

bob.

 

so at the first sign you <deleted> your pants

 

you are a rich world traveler and womanizer, in your imagination

 

so just live a month or two or three in another country, then jump ship

26 minutes ago, Prubangboy said:

I practically never stay above The Marriot Hotel level, but when I do, stuff like wine and 5* restaurants seem exactly on par with the west (a little cheaper on the food).

 

A Richie-Rich would be staying at the Four Seasons (not the landscaping company). I'll bet they're pretty happy with everything. And not sweating the wine markup. 

 

If you're what the brokers call "Mass Affluent" ($2-5M), Bangkok gives you Monaco luxury at Barbados prices.

 

I can't pretend that I know the favored haunts and spending habits of the Jeff Bezos-rich.

 

They're probably staying at a private home and traveling with staff. So wherever they are, really, they could be anywhere.

 

 

It's a bit ironic that Thailand would like to be considered a family destination but putting 2 large beds in one room seems to be hard to manage for most places. The 5 star joints on Samui are in the 10K/nt for a 3 person room. I settled for a 4 star 2 bed suite on the beach for 7K/nt. 

the thought of this chap at home covered in pb and jam alone with his dog frightens me so. 8 ball corner pocket.