Baht's Biggest Surge Since 1998 Poses Risk to Tourism And Exports

[chiang mai]

45 minutes ago, cedel said:

But if a part of those 130, 000+ has to pay lawyers, accountants, and several tens or hundreds of thousands bahts every year that they did not pay in taxes+fees before because they still have income sources abroad mostly in their home country from house /condo renting or else. I'm not sure the majority will agree to stay in a country where they pay more taxes than in their home country where it's maybe tax-free or where they have other exemptions not taken in account in Thailand 🇹🇭 !! 

If, if, if!

 

Most retirees have simple tax needs plus most people who have commented on the negative tax impact, haven't done the math. There will be some who need to reorganise their wealth and maybe even their living arrangements but for the vast majority, there's no impact. For most people this is a fear of the unknown issue and not real.

 

 

[cedel]

1 minute ago, chiang mai said:

If, if, if!

 

Most retirees have simple tax needs plus most people who have commented on the negative tax impact, haven't done the math. There will be some who need to reorganise their wealth and maybe even their living arrangements but for the vast majority, there's no impact. For most people this is a fear of the unknown issue and not real.

 

 

"As the saying says" Better safe than sorry "... 

[Rolo89]

7 minutes ago, mikebell said:

When I came here 20 years ago, I got 73 to 1 UKP. I used to import 5K = 350,000 baht regularly.  I spent freely; a new car every 3 years; an expensive house/furniture/clothes; meals out in top restaurants; etc.

Now I have an ailing 8 year old car; a rented property; cook all my meals at home; and check supermarket prices to save a baht here & there.  Any further attacks on my income will drive me to the Philippines where I will unfreeze my UK State pension and receive the equivalent of a 450,000 baht increase in my annual income.

Agree, those days of the early 2000s wont be back but Thailand needs to understand with every year it has less pull factors.

 

Being treated like a 3rd class citizen was acceptable when there were loads of other benefits to the country, but those have rapidly diminished.

 

 

[chiang mai]

Just now, cedel said:

"As the saying says" Better safe than sorry "... 

You think too much.

[Bday Prang]

33 minutes ago, mdr224 said:

Those who save in bitcoin are unaffected

Has bitcoin suddenly become non fluctuating ?  It was worth  $71000 back in march and was around $46000 just a couple of weeks ago, currently  around $62000    certainly appears to be plenty of scope to be negatively "affected" 

[ozz1]

If the government keeps borrowing money surely the baht will drop its happened every where else  and what happened to the huge reserves they had  fun times indeed

[cedel]

3 minutes ago, chiang mai said:

If, if, if!

 

Anyway, it's not an "if", it's a fact... : nobody or much less foreigners dare to engage in buying condos without knowing exactly at what sauce they will be eaten next year or in the next few years! 

😥😢

 

 

 

[BerndD]

2 hours ago, Luuk Chaai said:

Wise is currently @ 32.92   ouch !

oh.   and the Fed.. did already drop the rate..

and who can we thank for this ?

https://www.bidenomics.com/

 

And the €uro also lost nearly 2 Baht. Thanks to bidenomics? I think you lost 100%, but in yiur brain!

[chiang mai]

1 minute ago, cedel said:

 

 

[itsari]

12 minutes ago, mikebell said:

When I came here 20 years ago, I got 73 to 1 UKP. I used to import 5K = 350,000 baht regularly.  I spent freely; a new car every 3 years; an expensive house/furniture/clothes; meals out in top restaurants; etc.

Now I have an ailing 8 year old car; a rented property; cook all my meals at home; and check supermarket prices to save a baht here & there.  Any further attacks on my income will drive me to the Philippines where I will unfreeze my UK State pension and receive the equivalent of a 450,000 baht increase in my annual income.

The 73 baht to 1 pound lasted for just a short period of your 20 years in Thailand and fell to around 50 baht in 2009 . Meaning you have suffered a lower pound rate for 17 years .

[Surasak]

2 hours ago, hotchilli said:

The beers are not expensive, the wages are very low.

Push wages up and the prices follow.

[KannikaP]

1 hour ago, yankee99 said:

yes if importers want to pass the saving or increase profits . Petrol has already dropped from 39 to 35

 

 

Diesel hasn't. Been 33.37 per litre all this year in my neck of the woods.

[soalbundy]

1 hour ago, cedel said:

But if a part of those 130, 000+ has to pay lawyers, accountants, and several tens or hundreds of thousands bahts every year that they did not pay in taxes+fees before because they still have income sources abroad mostly in their home country from house /condo renting or else. I'm not sure the majority will agree to stay in a country where they pay more taxes than in their home country where it's maybe tax-free or where they have other exemptions not taken in account in Thailand 🇹🇭 !! 

I doubt returning to western nations is the answer, one may pay less tax (or not) but the cost of living, especially housing would negate any advantage, also there are now less and less tax free havens combined with a low cost of living. Many, like myself, who have family here can't just up sticks and move, I will just have to submit.

[Unamerican]

51 minutes ago, Bday Prang said:

Am I "confused"  or was I dreaming?

Sounds good: your memory agrees very much with the historical record. 

[hotchilli]

1 hour ago, itsari said:

A rather naive answer. 

The beer for 60 baht is very expensive if the majority of Thai people are on a low wage.

The price of the beer is at a competitive price.. it is not expensive

if you cannot afford it, it means you don't make enough money

[hotchilli]

42 minutes ago, Surasak said:

Push wages up and the prices follow.

I agree it's a vicious cycle.

But wages are out of sync from the cost of living

[metisdead]

Troll posts trolling about Trump and the replies have been removed.

Edited 14 minutes ago by metisdead

[LukKrueng]

5 hours ago, webfact said:

reaching levels last seen during the 1998 Asian financial crisis

Until 30th June 1997 the THB was linked to the USD at a rate of about 25:1 as a directive of the government 13 years prior.

When the banks reopened at the beginning of July 97 the THB depreciated to about 27:1 and kept depreciating to approx 57:1. Later it started gaining to 4x:1. So the level we see now is nothing like 1998.

[Thingamabob]

1 hour ago, Bday Prang said:

Strangely I remember things a little differently .  I was getting 90+ baht to the pound in 1998 but  before that it was around 40

Am I "confused"  or was I dreaming?

Not dreaming. The 1998 crash meant that, for a while, the value of our inward remittances doubled, as did our spending power.

[spidermike007]

This not due to a stable and efficient economy here. There are many factors pointing at major economic issues. Exports are down, new and used car sales are way down, property sales are down, and consumer confidence is down. If the baht remains at these levels for a sustained period, there will be damage. Tourism will likely suffer. So will exports.