Does Anyone Leave Thailand Wealthy?

[Scott]

I've worked in quite a few countries and most of them have had a few expats who came and made a small fortune. Since I've been in Thailand, I've never heard of any people that have done really well and made it out alive (Jim Thompson is an example--made it out, but not back home).

I am not talking about people who have done well, but the kind of people that left behind a name and a legacy. For example, where I went to school, our library was built and furnished by a guy who went to China in the early 1900's, made a small fortune, and left a generous endowment to the University.

Any people like that who came to Thailand and made their fortune?

[Wolfie]

Taskin i think the guys name was!

[tracer5050]

Taskin maybe we should start a mobile company or a 7 11 LOL

[Ulysses G.]

There are lots.

The farang with Thai citizenship who owns most of the Western fastfood franchises in Thailand is one of the big ones, but I know a lot of VERY succesful farang businessmen in Chiang Mai who came here without a pot to piss in.

[quiksilva]

Bill Heinecke has done rather well, and there are plenty of others in business that have made a LOT of money here.

[Jimjim]

How about that Andrew guy with the English schools and always talking Thai on TV shows, etc.

[LongThaimer]

Ever heard of Rakesh Saksena??? Newaspaper man who made billions from real estate and banking business. He made it out alive to Canada but barely. He also left a lagacy..... GREED and CORRUPTION!!!!!!

Eeast asians in manufacturing businesses are doing well, using cheap resources here and exporting the products back to their own more affluent countries, from what I know surely with some handsome profits. Mind you, not including the YAKUZAS.

Many Chinese came to Thailand with practically nothing and ended up filthy rich, the only thing is that not many of them left afetr making their fortunes.

My banker once told me that some of her aquaintances from Europe are doing well in the antique trades .

Competitiveness appears to be getting tighter generally, the era of multiple profit takings with modest amount of investments within the reach of most people is over in Thailand!!!!!! Now these days, you need big bucks if you are in for big returns!!!!!!

[mikethevigoman]

Most have kept it to themselves as if you brag about making money in thailand some theiving scumbags will take it off you quicker than you can say "can i see your government id please ,.

[mikethevigoman]

Ever heard of Rakesh Saksena??? Newaspaper man who made billions from real estate and banking business. He made it out alive to Canada but barely. He also left a lagacy..... GREED and CORRUPTION!!!!!!

Eeast asians in manufacturing businesses are doing well, using cheap resources here and exporting the products back to their own more affluent countries, from what I know surely with some handsome profits. Mind you, not including the YAKUZAS.

Many Chinese came to Thailand with practically nothing and ended up filthy rich, the only thing is that not many of them left afetr making their fortunes.

My banker once told me that some of her aquaintances from Europe are doing well in the antique trades .

Competitiveness appears to be getting tighter generally, the era of multiple profit takings with modest amount of investments within the reach of most people is over in Thailand!!!!!! Now these days, you need big bucks if you are in for big returns!!!!!!

"My banker once told me that some of her aquaintances from Europe are doing well in the antique trades . " Dont you mean some thai ladies are doing well with their antiques ! Edited August 23, 2007 by mikethevigoman

[chinthee]

I think the question was if any expats came here and struck it rich. In my experience they are far and few between unless they had money to begin with. One good example is the American guy who started California fitness (sold it to Koreans and it's now California Wow). He made a pretty good bundle.

There is very little in Thailand that rewards entrepreneurs. I know many, many more who do very well in places like Hong Kong, Singapore, and then simply come here to enjoy life having already made it there.

[Aujuba]

There's one in every province. TV's Heng is American. He'll probably make it big here as he's so into business.

[Payboy]

Ever heard of Rakesh Saksena??? Newaspaper man who made billions from real estate and banking business. He made it out alive to Canada but barely. He also left a lagacy..... GREED and CORRUPTION!!!!!!

you mean it did not exist here before rakesh?

[thedude]

Bob Mcmillan of Seamico Securities made so much money he's now moved on to Dubai, a bigger playground, and i hear he's got another securities/banking licence over there.

Nigel Cornick of Raimon Land is probably one of the more prominant foreigners made good over here.

[zzSleepyJohn]

It's much the same as in other parts of the world; you would need to be a bit dishonest, corrupt, and ruthless, besides being clever, to be a big business success.

But Thailand is different to other parts of the world, in that clever as I may well be , I wouldn't feel comfortable ripping off Thai people. They are too nice and friendly for that.

No, I see Thailand as a great holiday destination, and great as a place to retire to, but not ideal for people who want to engage in the cut and thrust of big business and make a big name for themselves.

It's more a place to lie low, relax, and simply enjoy the status quo.

. + SJ

[jumnien]

There aren't so many that have made a lot of money and returned home. Lots that have made a lot of money here, but it's such a nice place to live that they tend to stay put.

[Heng]

There's one in every province. TV's Heng is American. He'll probably make it big here as he's so into business.

Thanks for the compliment Aujuba... although I think I've mentioned more than a few times over the years that I'm Thai Chinese from the US. Thus, I don't have to deal with most of the hurdles-n-hoops that expats with fewer rights here have to deal with.

Have known more than a few foreigners who have done well here (not to be confused with those who are retiring here already well to do). I've seen relatively modest fortunes built by several of them... in less than 10 years here for most. They find a niche, they work hard, and they don't flaunt it... not so different from the bulk of local well to do here and anywhere else.

[Abrak]

Nigel Cornick of Raimon Land is probably one of the more prominant foreigners made good over here.

Nigel Cornick is not a major sharholder in Raimon Land - he is simply the CEO. Nishita Shah, an Indian, is one of the top 20 richest Thais through her holdings in Precious Shipping which she recently inherited. She is only 27.

[Payboy]

Nigel Cornick of Raimon Land is probably one of the more prominant foreigners made good over here.

Nigel Cornick is not a major sharholder in Raimon Land - he is simply the CEO. Nishita Shah, an Indian, is one of the top 20 richest Thais through her holdings in Precious Shipping which she recently inherited. She is only 27.

daughter of kirit shah of gee premjee group - also owner of the amari atrium hotel on new petchaburi road...

Edited August 23, 2007 by Payboy

[LongThaimer]

Ever heard of Rakesh Saksena??? Newaspaper man who made billions from real estate and banking business. He made it out alive to Canada but barely. He also left a lagacy..... GREED and CORRUPTION!!!!!!

you mean it did not exist here before rakesh?

I'd be lying if I said NO.

But this guy's case really exposed the tanited business culture of Thailand to the outsiders, big way. Taksin now, who's next? Thailand's image as a corrupted country will remain as long as these guys don't come out and clear their names. Not the kind of legacy you want to be associated with, eh??? .

[LongThaimer]

Ever heard of Rakesh Saksena??? Newaspaper man who made billions from real estate and banking business. He made it out alive to Canada but barely. He also left a lagacy..... GREED and CORRUPTION!!!!!!

Eeast asians in manufacturing businesses are doing well, using cheap resources here and exporting the products back to their own more affluent countries, from what I know surely with some handsome profits. Mind you, not including the YAKUZAS.

Many Chinese came to Thailand with practically nothing and ended up filthy rich, the only thing is that not many of them left afetr making their fortunes.

My banker once told me that some of her aquaintances from Europe are doing well in the antique trades .

Competitiveness appears to be getting tighter generally, the era of multiple profit takings with modest amount of investments within the reach of most people is over in Thailand!!!!!! Now these days, you need big bucks if you are in for big returns!!!!!!

"My banker once told me that some of her aquaintances from Europe are doing well in the antique trades . " Dont you mean some thai ladies are doing well with their antiques !

Lets' not get confuse with our wordings here. Well.. you surely do not want to be at receiving end of antics by some wicked Thai lass. Is that right???

[Doro22]

I know two gents that made and possible still makes good money in advertising. They made a fortune when they sold their agency to a worldwide ad chain.

What about the dutch beggar?

Ever heard of Rakesh Saksena??? Newaspaper man who made billions from real estate and banking business. He made it out alive to Canada but barely. He also left a lagacy..... GREED and CORRUPTION!!!!!!

Eeast asians in manufacturing businesses are doing well, using cheap resources here and exporting the products back to their own more affluent countries, from what I know surely with some handsome profits. Mind you, not including the YAKUZAS.

Many Chinese came to Thailand with practically nothing and ended up filthy rich, the only thing is that not many of them left afetr making their fortunes.

My banker once told me that some of her aquaintances from Europe are doing well in the antique trades .

Competitiveness appears to be getting tighter generally, the era of multiple profit takings with modest amount of investments within the reach of most people is over in Thailand!!!!!! Now these days, you need big bucks if you are in for big returns!!!!!!

"My banker once told me that some of her aquaintances from Europe are doing well in the antique trades . " Dont you mean some thai ladies are doing well with their antiques !

Lets' not get confuse with our wordings here. Well.. you surely do not want to be at receiving end of antics by some wicked Thai lass. Is that right???

[steveromagnino]

Nigel Cornick of Raimon Land is probably one of the more prominant foreigners made good over here.

Nigel Cornick is not a major sharholder in Raimon Land - he is simply the CEO. Nishita Shah, an Indian, is one of the top 20 richest Thais through her holdings in Precious Shipping which she recently inherited. She is only 27.

Plenty of foreigners who have made money in real estate. As for Nishita Shah, if she is Thai of Indian descent (which is the case if she inherited via Khalid or his brother) then she isn't really any different to the various offspring in the CP/Central type clans; just not having Thai Chinese blood, but rather Thai Indian blood.

As for PSL, an excellent company, run by excellent people.

[Creeper]

At the end of the day, the majority of Farang that put money into Thailand will lose.

It's as simple as that, very few make make money on their investment, there are too many things against Farangs.

Same as these guys going on about investing in Condos " In Their Name " wow..........what the fawk does that mean, you have paid for a room in a high rise that may well be completely fawked in 10 years time.

I know it's an old cliche, but really chaps, do not pay more than you can afford to lose witout feeling bitter and twisted for the rest of your life.

By all means buy a house for the wife and children, like you would anywhere else'

At least it gives them some security in a very insecure world.

PS. I rent in Pattaya, and I have a house in Issan. I would never buy in Pattaya cos it's a total dump, well it's not a dump, it's just too busy, the traffic problems are horendous, and it will not get better......the ammount of building work going on indicates that Pattaya will have mega traffic problems very soon, even worse than now.

And of course the Crime figures speak for themselves.

Edited August 23, 2007 by Creeper

[samran]

At the end of the day, the majority of Farang that put money into Thailand will lose.

It's as simple as that, very few make make money on their investment, there are too many things against Farangs.

And long may this myth continue, as it lets others go about making wads of cash doing innovative things here while scaring the others off.

[chinthee]

Let's put it this way. If you ask a young man today where he would go to make his fortune, he might say "China," or "Russia," and today of course "India," and probably even "Vietnam," or the always correct answer "America." Would anyone seriously think of Thailand as a place to do that? No, it's a wonderful place to spend your fortune, not make it, unless you're Thai-Chinese, Thai-Indian or any other such local combination. Farangs are invited to come here and spend, not make.

Edited August 23, 2007 by chinthee

[Creeper]

At the end of the day, the majority of Farang that put money into Thailand will lose.

It's as simple as that, very few make make money on their investment, there are too many things against Farangs.

And long may this myth continue, as it lets others go about making wads of cash doing innovative things here while scaring the others off.

Myth? hahaha............................................................

So you're telling me that it's as easy for a Farang to make money in Thailand as a businessman as it is for a Thai guy ?

LOL

Edited August 23, 2007 by Creeper

[steveromagnino]

At the end of the day, the majority of Farang that put money into Thailand will lose.

It's as simple as that, very few make make money on their investment, there are too many things against Farangs.

And long may this myth continue, as it lets others go about making wads of cash doing innovative things here while scaring the others off.

Myth? hahaha............................................................

So you're telling me that it's as easy for a Farang to make money in Thailand as a businessman as it is for a Thai guy ?

LOL

If someone has a western standard grade A education and is born with access to a decent amount of cash then yeah, for sure a whole lot easier to make money here as a business man than 90% of Thais who don't have access to those things.

If you point is could they make more elsewhere; well that all depends on what their skill set is; for many with skills that are applicable world wide, then yeah, probably (e.g. finance). However, a ski resort developer would not get far here, and a seafood snacks producer (one Malaysian guy I can think of) would get a lot further here than trying to build the same business in China or Russia.

In my line of business i never once compared myself to 'a Thai guy' or a 'farang...businessman' - never thought about my skill set or the hoops I have to jump through in those terms. With the hoops involved in my line of work (nothing particularly glamorous or skilled) a few company hoops and language hoops etc are hardly deal breakers.

Guess it would be tough coming here if you didn't want to learn the language etc etc.

[Ulysses G.]

At the end of the day, the majority of Farang that put money into Thailand will lose.

It's as simple as that, very few make make money on their investment, there are too many things against Farangs.

And long may this myth continue, as it lets others go about making wads of cash doing innovative things here while scaring the others off.

I think that the myth is mostly true, but that doesn't mean that making money here is impossible, just not as easy as certain other places where you may no desire to live.

[AlbertTatlockDeceased]

LOL - Thaksin???

[meadish_sweetball]

At the end of the day, the majority of Farang that put money into Thailand will lose.

It's as simple as that, very few make make money on their investment, there are too many things against Farangs.

And long may this myth continue, as it lets others go about making wads of cash doing innovative things here while scaring the others off.

I think that the myth is mostly true, but that doesn't mean that making money here is impossible, just not as easy as certain other places where you may no desire to live.

The thing is, if you come to a country that is as different as Thailand without a specialized skill and without much knowledge of how things are done here, and no language skills, you are not very likely to succeed in business, are you?

To generalize a little, industrious people who are not scared of a long initial learning curve and adapting to the system are much less likely to have such problems.

From what I see, people who wouldn't invest or try their hands on running a business back home end up trying it here, so that increases the failure rate. In other cases, the business idea simply does not work. Or it is in direct competition with local businesses, in which case they may try to copy you or sabotage you. The business climate does seem pretty tough.

Some people are industrious and have a functioning business idea - and it seems to go ok, eh UG?