Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[Kf6vci]

Bloomberg TV reported on major car plant cancellations in Thailand. And the Bangkok Post has an article with data from a luxury hotel. http://www.bangkokpost.com/business/tourism/8524/peninsula-seeks-salvation-in-bookings-from-local-guests

The GM is quoted: "He said the Peninsula's losses already total US$2 million and it faces hardship, along with other hotels on the Chao Phraya riverside. The hotel's occupancy has tumbled to around 35% from its normal rate of 75%".

The new Sofitel Sukhumvit has much higher prices than say Sofitel Silom. It will open in April. With mortgage payments and all, let's see how they will fare.

This would bge a good time for the government to think hard to remove barriers to tourism. For example, why not let tourists get a 90 days entry stamp on arrival? Most folks with money are middle aged or older. Some love to stay the whole Winter somewhere where it is warm.

With whole industries on their knees, Thailand needs some success stories! Maybe they can ask tourists to post a bond of 100,000 Baht or something. It is time to be creative and more lenient, like Malaysia is.

[Ricardo]

This would bge a good time for the government to think hard to remove barriers to tourism. For example, why not let tourists get a 90 days entry stamp on arrival? Most folks with money are middle aged or older. Some love to stay the whole Winter somewhere where it is warm.

Agree whole-heartedly with this, the remaining tourists are a net benefit to Thailand, and should be encouraged to-the-max. Malaysia sets an excellent example to be followed ... pity it's such a dull place, compared to good old Thailand !

A swift devaluation or floating of the Baht is the other significant action, which may yet lessen (not totally avoid) the impact of the world's financial problems, upon Thailand. One can only hope that the new government see things the same way, and act soon, after all the new PM is an economist ! OMG ... what did I just say !!

[Chaimai]

Tourism still only represents circa 6% of GDP and whilst it will remain a high profile industry, it is not the main area of concern.

With unemployment likely to rise, car manufacturers pulling out it beggers belief that there is a strong Baht policy. Exports are becoming increasingly uncompetitive which cannot make sense for a sector that accounts for two-thirds of GDP.

[think_too_mut]

This would be a good time for the government to think hard to remove barriers to tourism. For example, why not let tourists get a 90 days entry stamp on arrival? Most folks with money are middle aged or older. Some love to stay the whole Winter somewhere where it is warm.

Who would stay 3 months in a hotel at western prices? Top hotels are at top prices, for 1 room.

Those who would, won't come to Thailand.

Thailand is not associated with high prices and good service (although at many places it's quite fine).

Did you see what responses go to those advertising large 3-BR apartments in Hua Hin at 3000USD a month.

They get laughed at.

[londonthai]

And the Bangkok Post has an article with data from a luxury hotel.

it's not the best idea to portrait states economy by showing the only example some posh hotel in bangkok, one of thousands in thailand. The picture should be slighly wider. Looks more like sneeked through promotion of the hotel than economical analisys

[midas]

And the Bangkok Post has an article with data from a luxury hotel.

it's not the best idea to portrait states economy by showing the only example some posh hotel in bangkok, one of thousands in thailand. The picture should be slighly wider. Looks more like sneeked through promotion of the hotel than economical analisys

Ok how about this one then if you need a " slightly wider " picture.

I have a friend who works for Dusit Hotels and their hotel

in Koh Chang 2 weeks ago had a grand total of 8 guests.

[whiterussian]

Its coming boys its coming.

All the Thai's already know. They are getting stingier! But they had a dry run for this in 97...

How about the American way of economic stimulus?! Start a war!

[bangon04]

Its coming boys its coming.

All the Thai's already know. They are getting stingier! But they had a dry run for this in 97...

How about the American way of economic stimulus?! Start a war!

I thought they tried that, but Cambodia just laughed at them - after all, the Thai army might have to spend big money to compensate for the lack of real fighting experience....

[Scott]

I am a little more concerned about the plight of the car industry here than the tourism industry. The hotels won't really go away, they may struggle, but they will still be here. The car industry, however, is a different story.

[torrenova]

The Peninsular and the other 5* places who have been steadily raising rates over the last 5 years to levels way above their real worth should be aware that they are going to have to take a bath now. Charging $200+ for a room on Sukhumvit in a tin pot country is just ridiculous. They will have to think about the sub $100 level to get back any of the lost business.

As a contrast to 10 years ago, Bangkok does now have some mid range hotels which offer moderate value for money. I know it has been a while since I felt compelled to spend serious money at the Marriotts and Sheratons etc. 10 years ago, they were the only places we stayed in as options were rather limited unless you went to the bottom end.