The Restaurants And Stores Are Always Packed

[realmadrid25]

not to sound arrogant but I don't know who are all these people shopping in Paragon and spending a 1000 baht a for a 2 star meal at Fuji?? All I see on the news is the Thai economy is in shambles and commodites are through the roof. Perhaps they only do it once a month, so everytime I sit down in Fuji for a moderately priced meal there is a twenty minute wait. Perhaps all these people will not come back for another month. Or perhaps they have family money - which is always surprising to me, to see someone with a 15K baht a month salary driving a new BMW.

If it costs 400 baht for a doctors visit, how is anyone here on a salary (besides Expat salaries) getting by? If the doctors are making less than 80-100K a month, then who are all these people packing the stores every weekend?

Even when it comes to condominiums. Every project sells out, no problem. How do any of the locals manage to save 20 million baht if salaries are this low?

Is it different from the West where someone can become well off with a 'job' where as here you have to own a business or have no shot whatsoever?

Edited March 15, 2008 by realmadrid25

[KireB]

not to sound arrogant but I don't know who are all these people shopping in Paragon and spending a 1000 baht a for a 2 star meal at Fuji?? All I see on the news is the Thai economy is in shambles and commodites are through the roof. Perhaps they only do it once a month, so everytime I sit down in Fuji for a moderately priced meal there is a twenty minute wait. Perhaps all these people will not come back for another month. Or perhaps they have family money - which is always surprising to me, to see someone with a 15K baht a month salary driving a new BMW.

If it costs 400 baht for a doctors visit, how is anyone here on a salary (besides Expat salaries) getting by? If the doctors are making less than 80-100K a month, then who are all these people packing the stores every weekend?

Even when it comes to condominiums. Every project sells out, no problem. How do any of the locals manage to save 20 million baht if salaries are this low?

Is it different from the West where someone can become well off with a 'job' where as here you have to own a business or have no shot whatsoever?

If 10% of the Thais families earn more than ,let's say, 50.000 baht a month, we're talking about 6,000,000 Thais. I'm pretty sure that at least 2,000,000 of them live in Bangkok and love to go out now and then.

[Austhaied]

not to sound arrogant but I don't know who are all these people shopping in Paragon and spending a 1000 baht a for a 2 star meal at Fuji?? All I see on the news is the Thai economy is in shambles and commodites are through the roof. Perhaps they only do it once a month, so everytime I sit down in Fuji for a moderately priced meal there is a twenty minute wait. Perhaps all these people will not come back for another month. Or perhaps they have family money - which is always surprising to me, to see someone with a 15K baht a month salary driving a new BMW.

If it costs 400 baht for a doctors visit, how is anyone here on a salary (besides Expat salaries) getting by? If the doctors are making less than 80-100K a month, then who are all these people packing the stores every weekend?

Even when it comes to condominiums. Every project sells out, no problem. How do any of the locals manage to save 20 million baht if salaries are this low?

Is it different from the West where someone can become well off with a 'job' where as here you have to own a business or have no shot whatsoever?

Simple answer..

I seen this first hand as a young kid in Australia with one of my best mates families..They were Vietnamese and were very prosperous very quickly, and only on fairly ordinary salaries..

Peer to peer lending is nothing new, in fact, it’s an old concept.

Direct lending (or lending without traditional intermediaries such as banks) has existed in communities since time immemorial. This industry has been inspired by the concept of Asian micro-lending, borrowing and business, the original idea being that cooperatives of neighbors, friends and family pool money together to help out those who need loans. In the age of online transactions and match-making, p2p lending companies have taken the idea of money pools and direct lending and turned it into viable web models.

[spasticated]

Dont forget a lot of people go shopping for the free air con!

[Dakhar]

The slums are always packed too. The bars are always packed with strippers, and the streets are full of litter and beggars. The swamps are full of raw sewage and garbage.

So as to fancy malls and rich people, Thailand has them both (poor & rich). How the rich got to that point is beyond me. How they close their eyes and allow their country to be in such a state, is beyond me.

[spasticated]

<br />The slums are always packed too. The bars are always packed with strippers, and the streets are full of litter and beggars. The swamps are full of raw sewage and garbage.<br /><br /><br />So as to fancy malls and rich people, Thailand has them both (poor & rich). How the rich got to that point is beyond me. How they close their eyes and allow their country to be in such a state, is beyond me.<br />

<br /><br /><br />

Beyond me too!!

[Heng]

The same as anywhere else (some worked hard, some less so, some got lucky), although I think the egos of some will find that difficult to accept and try to reason that it was all random luck or a conspiracy of sorts.

There are limits to what one can do even when one controls 90% of a nation's wealth. Even with vast resources, it's a near impossible ask to change a culture. Just look at Africa or Russia.

[simcity]

Dont forget a lot of people go shopping for the free air con!

Yes, and they recycle the bags ( emporium / central ) for the next visit ( look like if they bought something )

[thaihome]

not to sound arrogant but I don't know who are all these people shopping in Paragon and spending a 1000 baht a for a 2 star meal at Fuji?? All I see on the news is the Thai economy is in shambles and commodites are through the roof. Perhaps they only do it once a month, so everytime I sit down in Fuji for a moderately priced meal there is a twenty minute wait. Perhaps all these people will not come back for another month. Or perhaps they have family money - which is always surprising to me, to see someone with a 15K baht a month salary driving a new BMW.

If it costs 400 baht for a doctors visit, how is anyone here on a salary (besides Expat salaries) getting by? If the doctors are making less than 80-100K a month, then who are all these people packing the stores every weekend?

Even when it comes to condominiums. Every project sells out, no problem. How do any of the locals manage to save 20 million baht if salaries are this low?

Is it different from the West where someone can become well off with a 'job' where as here you have to own a business or have no shot whatsoever?

You are a victim of the mass media and the Thai Internet Forums and have allowed them, and maybe your location as well, to form your perception of the Thai economy. As said earlier, there are millions of middle class Thais, making 50k or much more, that can easily afford a lunch in Fuji’s with the family every Saturday or Sunday.

Also, just like in the western world, when a child or grandchild from well-to-do family graduates from university, it is not unusual for them to be rewarded with a very nice car, hence the young people, just starting out, that drive the Benz’s that seem to bother you so much.

TH

[bendix]

I've seen a lot of this lately - as increasing numbers of farang refugees in Thailand find their dollar or pound 'fortunes' are becoming increasingly worthless in Thailand, they look at those Thais who are doing relatively well with increasing resentment and bitterness. How dare those little brown people with their strange food and language be able to afford things us big white folk can't. It's an outrage.

Well, let's face some facts. The Thai economy is not in a shambles. Far from it. It's relatively stable with a growth rate that many western countries can only dream of at the moment. The currency is strong, and economic activity is pretty healthy - not China or India healthy - but much more healthy than third world economies like the US which has gorged itself into a massive bout of economic constipation.

[BigSnake]

Lots of window shopping I guess.

[chevykanteve]

I've seen a lot of this lately - as increasing numbers of farang refugees in Thailand find their dollar or pound 'fortunes' are becoming increasingly worthless in Thailand, they look at those Thais who are doing relatively well with increasing resentment and bitterness. How dare those little brown people with their strange food and language be able to afford things us big white folk can't. It's an outrage.

Well, let's face some facts. The Thai economy is not in a shambles. Far from it. It's relatively stable with a growth rate that many western countries can only dream of at the moment. The currency is strong, and economic activity is pretty healthy - not China or India healthy - but much more healthy than third world economies like the US which has gorged itself into a massive bout of economic constipation.

You are encouraging racial stereotypes by referring to little brown people, strange food and (incomprehensible?) language. Shame on you, you blatant propagandist of Kiplingish dogma [just kidding]! But otherwise, I agree with you. The Thai economy is not even close to being in shambles and the US has in fact gorged itself as you say. Cheers!

[mauiguy90]

If 10% of the Thais families earn more than ,let's say, 50.000 baht a month, we're talking about 6,000,000 Thais. I'm pretty sure that at least 2,000,000 of them live in Bangkok and love to go out now and then.

Agreed! You might also consider that for every foreigner who is renting, there is a thai owner who is enjoying the fruit of investments made many years ago. Added to that, there are countless shop and business owners who pay their workers 5000-7000 baht a month, while charging prices that a more and more reminiscent of Western prices. In short order, their buying power will quickly exceed that of foreigners, if it hasn't already!

[mellow1]

^ True there are a lot of Thai people making good money. The Average middle income wage in the US is about 50,000$. Cars are cheaper there, the price of tires, PC's etc are all about the same, and in Thailand anything not made here has a big import tax. There is no way that their buying power exceeds a US or European's buying power. The prices of everything in Thailand is skyrocketing, yet wages do not increase. Maybe this is just wishful thinking on your part, because your career is based here, you still have a long way to go before retirement, you have recently become a family man and invested in the country. I wish you and yours the best, and I hope your endeavors and dreams come true. As a "Refugee" from the US I have invested a lot of money here, mainly for my wife and son's future, and although I can't afford a Benz for myself nor my son, were doing fine on my retirement. All the Thais that I know are up to their eyeballs in debt, with less resources then are found in the west to pay for it. I don't see Thailand achieving a similar status as the US or Eastern Europe, even in my young son's lifetime, but for sure I hope for the best for this country and its people.

[jonniebkk]

I've seen a lot of this lately - as increasing numbers of farang refugees in Thailand find their dollar or pound 'fortunes' are becoming increasingly worthless in Thailand, they look at those Thais who are doing relatively well with increasing resentment and bitterness.

I agree there is some of this...most Western expats have lost about 25% of purchasing power of their currencies over the past few years. Definitely effects those who were marginal to begin with. However, the strong baht moderates the cost of many imported goods (e.g., oil) so prices rises are lower than they might be so the effects of the currently losses is mitigated to some extent.

The Thai economy is not in a shambles. It's relatively stable with a growth rate that many western countries can only dream of at the moment. The currency is strong, and economic activity is pretty healthy

True, some decent growth from a low base...easier to grow a USD 170 billion economy at 4%-5% than it is an US$ 13 TRILLION economy. My one concern is that like the US, allot of this "growth" seems to be driven by excessive consumer and business debt. The lines at all the EON and other consumer finance company payment outlets at the shopping centers are much longer than any lines I see at Fuji or any other restaurants. Like the US...it might all come crashing down on their little Thai heads.

[Richie1971]

I know a Thai guy, who is on 30k Baht a month and has just bought a brand new Mercedes on which he pays 27K Baht a month, I asked him how he survives on 3k bht diposable income per month and he says its enough as he is Thai. He pays 1,500bht p/m for what can only be described as a concrete shed with a corrogated roof. It's all to do with face again, he loves the way the Police salute him when he drives past.

[Samuian]

I know a Thai guy, who is on 30k Baht a month and has just bought a brand new Mercedes on which he pays 27K Baht a month, I asked him how he survives on 3k bht diposable income per month and he says its enough as he is Thai. He pays 1,500bht p/m for what can only be described as a concrete shed with a corrogated roof. It's all to do with face again, he loves the way the Police salute him when he drives past.

Does make a lot of sense, doesn't it?

Does this hold the clue for the thai psyche?

[torrenova]

I know a Thai guy, who is on 30k Baht a month and has just bought a brand new Mercedes on which he pays 27K Baht a month, I asked him how he survives on 3k bht diposable income per month and he says its enough as he is Thai. He pays 1,500bht p/m for what can only be described as a concrete shed with a corrogated roof. It's all to do with face again, he loves the way the Police salute him when he drives past.

Classic example of Chinese / SE Asian thinking. Sod the hole in the roof or the broken toilet (what toilet ?), lets have the new plasma TV and the Mercedes.

The exact opposite of buying things that go up in value rather than depreciate. Fools all.

[Jingthing]

I've seen a lot of this lately - as increasing numbers of farang refugees in Thailand find their dollar or pound 'fortunes' are becoming increasingly worthless in Thailand, they look at those Thais who are doing relatively well with increasing resentment and bitterness. How dare those little brown people with their strange food and language be able to afford things us big white folk can't. It's an outrage.

Well, let's face some facts. The Thai economy is not in a shambles. Far from it. It's relatively stable with a growth rate that many western countries can only dream of at the moment. The currency is strong, and economic activity is pretty healthy - not China or India healthy - but much more healthy than third world economies like the US which has gorged itself into a massive bout of economic constipation.

I have indeed noticed that alot of Thais are wealthier than me. I for one don't resent them. It just makes me feel that in the Thai context, I am middle class, just like I was before in the US, a perfectly comfortable place for me to be. I am also quite accustomed to see people of all colors and sizes who are richer then me. Not all of us are colonial minded racists you know.

Edited March 16, 2008 by Jingthing

[Richie1971]

I know a Thai guy, who is on 30k Baht a month and has just bought a brand new Mercedes on which he pays 27K Baht a month, I asked him how he survives on 3k bht diposable income per month and he says its enough as he is Thai. He pays 1,500bht p/m for what can only be described as a concrete shed with a corrogated roof. It's all to do with face again, he loves the way the Police salute him when he drives past.

Classic example of Chinese / SE Asian thinking. Sod the hole in the roof or the broken toilet (what toilet ?), lets have the new plasma TV and the Mercedes.

The exact opposite of buying things that go up in value rather than depreciate. Fools all.

The same type of mindset can also be witnessed when Thai people go abroad, they don't seem to really enjoy themselves, they seem to spend 99% of the time taking photos, not for the memories I suspect but to show other people that they have been somewhere that their friends/colleagues have not.

[KireB]

^ True there are a lot of Thai people making good money. The Average middle income wage in the US is about 50,000$. Cars are cheaper there, the price of tires, PC's etc are all about the same, and in Thailand anything not made here has a big import tax. There is no way that their buying power exceeds a US or European's buying power. The prices of everything in Thailand is skyrocketing, yet wages do not increase. Maybe this is just wishful thinking on your part, because your career is based here, you still have a long way to go before retirement, you have recently become a family man and invested in the country. I wish you and yours the best, and I hope your endeavors and dreams come true. As a "Refugee" from the US I have invested a lot of money here, mainly for my wife and son's future, and although I can't afford a Benz for myself nor my son, were doing fine on my retirement. All the Thais that I know are up to their eyeballs in debt, with less resources then are found in the west to pay for it. I don't see Thailand achieving a similar status as the US or Eastern Europe, even in my young son's lifetime, but for sure I hope for the best for this country and its people.

Debt is certainly a big problem for the majority of Thais. Thai people and their financial prosperities are in no way comparable with those in Western countries. There's no social security network, etc... The OP here stated that he (or she) didn't understand how there seems to be such observable wealth in this country. There is wealth in this country, though a minority!

Nevertheless, 28% of all Thais live on less than 2 dollars a day (source:earthtrends) and I agree that we and the Thais should worry about their future. Income disparity is on the rise and societal problems are looming. This is the case for most developing countries as progress went too rapid.

[Heng]

I've seen a lot of this lately - as increasing numbers of farang refugees in Thailand find their dollar or pound 'fortunes' are becoming increasingly worthless in Thailand, they look at those Thais who are doing relatively well with increasing resentment and bitterness.

Myself I think the numbers of bitter folks is holding steady, but one's mileage will vary. IMO this type of thread ("why do they have better things than me, mommy?") comes up a lot LESS often nowadays.

[mellow1]

I've seen a lot of this lately - as increasing numbers of farang refugees in Thailand find their dollar or pound 'fortunes' are becoming increasingly worthless in Thailand, they look at those Thais who are doing relatively well with increasing resentment and bitterness.

Myself I think the numbers of bitter folks is holding steady, but one's mileage will vary. IMO this type of thread ("why do they have better things than me, mommy?") comes up a lot LESS often nowadays.

I'm not bitter at all about it, and I certainly hope all these little kids, get to have all the neat stuff kids can have these days.

[Jockstar]

I know a Thai guy, who is on 30k Baht a month and has just bought a brand new Mercedes on which he pays 27K Baht a month, I asked him how he survives on 3k bht diposable income per month and he says its enough as he is Thai. He pays 1,500bht p/m for what can only be described as a concrete shed with a corrogated roof. It's all to do with face again, he loves the way the Police salute him when he drives past.

He'll be fuc_ked if he has to pay for any repairs then.

[gunnyd]

Why is it such a surprise that Thais do what pretty much everyone else does. I go to the mall, window shop, eat at the food court, and then do my shopping at Wal-Mart. And I know plenty of people who buy a shiny new car that takes most of their paycheck to afford in the States. And you will find many flat screen HDTVs in the ghettos. Why should LOS be an different?

[Edonista]

I know a Thai guy, who is on 30k Baht a month and has just bought a brand new Mercedes on which he pays 27K Baht a month, I asked him how he survives on 3k bht diposable income per month and he says its enough as he is Thai. He pays 1,500bht p/m for what can only be described as a concrete shed with a corrogated roof. It's all to do with face again, he loves the way the Police salute him when he drives past.

Hope he pays installments timely. I am a Kiatnakin stockholder.

[TheDon]

I dont know any Thais who are under 100k a month actually. But i only know around 20 Thai people

[mellow1]

I dont know any Thais who are under 100k a month actually. But i only know around 20 Thai people

You must not live or have been in Thailand, then either.

[TheDon]

I dont know any Thais who are under 100k a month actually. But i only know around 20 Thai people

You must not live or have been in Thailand, then either.

I do not live in Thailand, I live in Sydney, I only been to Thailand 6 times and the 20 people I know are the wife's family and friends.

[pampal]

I know a Thai guy, who is on 30k Baht a month and has just bought a brand new Mercedes on which he pays 27K Baht a month, I asked him how he survives on 3k bht diposable income per month and he says its enough as he is Thai. He pays 1,500bht p/m for what can only be described as a concrete shed with a corrogated roof. It's all to do with face again, he loves the way the Police salute him when he drives past.

He'll be fuc_ked if he has to pay for any repairs then.

How can he afford to put fuel in his Benz?