World's Largest Expat Survey Reveals Crunch Hits Expats Hard

[tombkk]

World's largest expat survey reveals crunch hits expats hard

US, Thailand and South Africa are most affected expat locations

BANGKOK: -- The US, Thailand and South Africa are most affected expat locations. Almost half of expats in UK are considering returning home. Emerging markets rank above established centres for expat finances, while UK is the worst for saving behind Spain and France. Despite economic crisis, expats are wealthier and save more than in country of origin.

[...]

-- travelmole.com 2009-06-26

Related link:

The results of Thaivisa Member Survey 2009:

http://www.thaivisa.com/forum/Results-Thai...ey-t276064.html

First of all, please translate the first paragraph into English. This is embarrassing for both ThaiVisa and HSBC.

Secondly, the number of expats surveyed is even less than participated in the TV survey. Why do they say "World's largest expat survey"? And we know that the ThaiVisa survey covered only 5% of the members, and not even all the expats in Thailand are members.

Thirdly, they surveyed only expats making US$ 200,000 or more. Hardly a representative sample for all expats.

So how valuable (in an academic sense) is the HSBC research? Boiling it down to all the expats in the world, the sample is probably insignificant. Tell me I'm wrong.

Cheers,

Thomas.

[gpdjohn]

The worse it gets here, the more money I make...

I do High End Security, Protection, and Guarding along with some few ex-Thai Naval Spec Ops Guys.

I am going to make a fortune...

I love where we are, and I love Thailand...

Kit meshu-hopn na-nake

todd

Horray for Todd and screw the rest of the world. Jerks like this are what gives expats and Americans a bad name.

I missed the reference to Todd being American. Can you kindly point it out? Thanks a bunch.

Yes I was thinking the same thing myself. Just because he demonstrates an attitude consistent with that of an American does not necessarily mean Todd is an American.

I don't know, sounds more like a former SAS man to me, the kind that fabricated so much of Bravo Two Zero for a fat publishing contract...let me recheck my book of racial stereotypes....

[MaiChai]

My experience of these 'highly paid expats' is that they are not worth the money. Any company looking to save money in these mean times would look at trimming these to save money. Most companies have too much management anyway. These 'super expats' will be confined to the history books. Ok high level management reap the rewards of being at the top but how many 300K PY execs do you need to run your business? Smaller/slimmer/faster...

The worse it gets here, the more money I make...

I do High End Security, Protection, and Guarding along with some few ex-Thai Naval Spec Ops Guys.

I am going to make a fortune...

I love where we are, and I love Thailand...

Kit meshu-hopn na-nake

todd

Make sure you don't get bumped off before you can enjoy your new wealth

Edited June 28, 2009 by MaiChai

[Spee]

I suspect the expats being surveyed were earning big Western style, full package salaries with big MNC's, well over 300,000 baht per month. Pardon me, pass the caviar.

Some of us are also just plain old middle class working people who choose to work abroad because of the income tax reduction, which frees up money for savings or other uses. If the current nutcases running the US (Obama, Pelosi and Reid) remove the foreign tax exemption, as they seem intended to do, then that would indeed be a devastating "crunch." It will for all intents and purposes, either drive the US expat economy underground or destroy the incentive to seek work abroad. IMHO, all European expats should be concerned for this as well, as the socialist tendencies of your governments seek to get their sticky fingers deeper into your pockets too.

Edit: 300k (roughly 110k pa usd) per month does not make one rich. It is an upper middle class income, a nice wage to be sure, but hardly elite. It is the politics of class warfare and class envy that make people believe that earning 300k per month makes one wealthy enough to afford vast luxuries, such as expensive caviar as implied.

Edited June 28, 2009 by Spee

[Spee]

My experience of these 'highly paid expats' is that they are not worth the money. Any company looking to save money in these mean times would look at trimming these to save money. Most companies have too much management anyway.

I really resent these kinds of ignorant, anti-capitalist statements. Employees are worth whatever they can get businesses to pay them for their services, and rightly so. That is a big part of what makes the world go around. There are a variety of reasons why expats may earn a nice salary and benefits, such as unique skill set, ability to work where no one else wants to, ability to take on work that no one else wants to, ability to run a profitable business unit, and so on.

Make sure you don't get bumped off before you can enjoy your new wealth

If there has been a more mean-spirited and nasty statement made recently in TVF, I certainly cannot think of it. What right do you have to wish ill of hard-working people who do what they have to do in order to earn a decent living for themselves and their families, especially if they may be experiencing hardship in these difficult times?

[MaiChai]

I was referring to todd who is in the 'security business'. Nothing nasty meant; it can be very dangerous in Thailand in this kind of business so more of a warning/take care of yourself comment, especially if you are used to a safer place like the UK/US.

I have worked for alot of companies over the years and there are some people who really don't deserve the money they are paid. Personally I have always worked hard in a professional capacity and have earned 'reasonable' money, but never 'ridiculous' money.

[Farang99]

World's largest expat survey reveals crunch hits expats hard

US, Thailand and South Africa are most affected expat locations

I am a British pesnioner, and have been living here for 11 years, since just after I retired. In view of all the moans and groans on this website about living in Thailand, I thought I would put in my two pennyworth:

Despite the weakness of the £

Despite my pension having been frozen since I left UK

Despite the steep rise in the cost of living

And even though I have to pay for my own medical care and drugs, and cope with the petty bureaucracies involved in living here as a non-citizen (and not forgetting the monstrous import tarriff on wine)

I STILL HAVE A BETTER AND MORE COMFORTABLE LIFE HERE THAN I WOULD HAVE IN UK!

[fred007]

Feel the love I think most expats here in thailand are here for the weather and the cost of living. Getting a massage for $5. I grow my toenails 3 inches and wait til I get to thailand to cut them.

[SueRSA]

I have to add, still staying in South-Africa and would love to become a Expat in Hau Hin next year. The South-Africans feel the economic crisis as any other country in the world. I can't say that I have. I'm very lucky, still do the same things I've been doing for the past 5 years where it comes to spending money. The interests rates came down, pertol goes up and down. Life is the same for me.

There are people that feel it everyday and I feel very sad for them, friends that lost there houses..... the property, car and banking instatutions really feel it.

We own a security company and I always feel bad, but it's true, we make money off the crime. I have to add that my clients get a very good service and we're not in the game of making money but keeping our clients and there property safe. Losing clients because they can't afford the monthly payment to secure they families life.... and you need home security in this country.

The crime is getting really crazy and I don't want to stay here anymore in my beloved country. I love Thailand and will be there for the month of August. I really think that Thailand is still the land of Smiles. I'm selfemployed and will be doing my share for Thailand and it's amazing people.

I really want to stay in Thailand, not just because of the weather, I really enjoy the people.

Sue (South-Africa)

[meadow]

Can anyone else see anything wrong with this statement?

Quote

Expats in the UK spend more of their income on accommodation than in anywhere else in the world, with almost two-thirds (86%) ranking it as their greatest expenditure

End of quote

No wonder we're in a credit crunch if reports like that make it to the media..

Edited June 29, 2009 by meadow

[yogi100]

hONESTLY???

The worse it gets here, the more money I make...

I do High End Security, Protection, and Guarding along with some few ex-Thai Naval Spec Ops Guys.

I am going to make a fortune...

I love where we are, and I love Thailand...

Kit meshu-hopn na-nake

todd

Horray for Todd and screw the rest of the world. Jerks like this are what gives expats and Americans a bad name.

I missed the reference to Todd being American. Can you kindly point it out? Thanks a bunch.

Yes I was thinking the same thing myself. Just because he demonstrates an attitude consistent with that of an American does not necessarily mean Todd is an American.

"I do High End Security, Protection, and Guarding along with some few ex-Thai Naval Spec Ops Guys"

When I read this sentence I automatically assumed the author was American because of the terminology. Brits and Aussies just do not talk like that. Anyone taking bets?

[Datsun240Z]

I grow my toenails 3 inches and wait til I get to thailand to cut them.

[llso]

I am one of the expats that lived in Thailand for 7 years, Same old story, Thai wife and child . I left two years ago when I read the "writing on the wall". I did a post back then and was called a "malcontent whining loser" by some. I went back home to US went to work ,wife got a great job as I had sent her to school for Japanese food in BKK. She is now manager of sushi departmentfor 3 stores at a high end supermarket. Daughter is in gifted class at school. We are doing fine. I am back here for a 2 month project for an NGO developing a relief food product for Sri Lanka ,Bangladesh and Africa with a WFP contract. Was in food busines here before. Some of the guys that when were riding high used to look down on us when their money was strong are now gone. I feel lucky to have escaped the pitfall of living here at the mercy of the powers that be. We own our home have a very low overhead. I really fel sorry for those that have burned their bridges and have nothing to go back to. Sorry if I come across a bit too strong.

LL

[tombkk]

I suspect the expats being surveyed were earning big Western style, full package salaries with big MNC's, well over 300,000 baht per month. Pardon me, pass the caviar.

Some of us are also just plain old middle class working people who choose to work abroad because of the income tax reduction, which frees up money for savings or other uses. If the current nutcases running the US (Obama, Pelosi and Reid) remove the foreign tax exemption, as they seem intended to do, then that would indeed be a devastating "crunch." It will for all intents and purposes, either drive the US expat economy underground or destroy the incentive to seek work abroad. IMHO, all European expats should be concerned for this as well, as the socialist tendencies of your governments seek to get their sticky fingers deeper into your pockets too.

Edit: 300k (roughly 110k pa usd) per month does not make one rich. It is an upper middle class income, a nice wage to be sure, but hardly elite. It is the politics of class warfare and class envy that make people believe that earning 300k per month makes one wealthy enough to afford vast luxuries, such as expensive caviar as implied.

I don't know how to do inline-quoting in this forum, so I'll make two bullet points.

1. Me, as a European expat, am not worried about what you call socialist. Socialism is something else, no trace of it in USA, you just don't know what you are talking about.

2. 300k is a yearly salary, not a monthly salary, for the locals and probablu even many expats on this list. Please get your perspective straight. It may be middle class in the US (I don't know about that), it certainly is not over here. Pass the caviar, will you.

[JimsKnight]

$3000 a month to spend is only Bt100,000 (approx) which is not that much and certainly not a luxurious living. Double that and you begin to have a nice lifestyle.

$100k a year is not a lot of money really. Sure isn't after taxes.

You've lost contact with reality buddy.

Defo!

Earning that sort of money and s*unking it all away takes some doing in Thailand!

Most expats with a head on their shoulders and thinking straight would be laughing all the way to the bank on $100k a year.

[dseawarrior]

Wow...!

ThaiVisa is a great source for information about Thailand but I've never felt compelled to create an account and offer my opinion on anything... Until now.

Todd (...in answer to a previous posters question regarding whether this individual is from the U.S or not; in over 44 years I've yet to meet a Brit named Todd, but I've met a few americans who were)... So.... Todd, I sincerely hope that you display better judgement when you are 'doing' your high end security, protection and guarding than you did by submitting this post.

I have had the sad misfortune to have met a number of individuals over the past 6 years in the middle east who displayed a similar 'I'm going to make a fortune' attitude, and regardless of the fact that they were (to my utter astonishment) in positions of grave responsibility, I can honestly say that I wouldn't trust them to run a security detail at Tescos.

Unfortunately, the U.S. (and the brits also it has to be said, but to a lesser extent) has made a habit of giving high level security clearances to individuals who are woefully unqualified to do the kind of work that Todd has so modestly referred to in his post. This unfortunately leads to a perception amongst the uninitiated that ALL those who work in this field have an attitude similar to that held by Todd.

I'd just like to redress the balance somewhat and say that we are not all Walter Mitty characters... But thanks for reinforcing the stereotype Todd... Pity your clients haven't had an opportunity to read your post.... If you were employed by me I would pull the plug immediately.

Apologies for bringing the mood down....keep smiling Thailand...

Geng jaang!

Thanks MG for re-inserting some honest reality for the "todd"s and the "todd wanna-be's" out there...

...good riddance to bad rubbish...

[JR Texas]

Wow...!

ThaiVisa is a great source for information about Thailand but I've never felt compelled to create an account and offer my opinion on anything... Until now.

Todd (...in answer to a previous posters question regarding whether this individual is from the U.S or not; in over 44 years I've yet to meet a Brit named Todd, but I've met a few americans who were)... So.... Todd, I sincerely hope that you display better judgement when you are 'doing' your high end security, protection and guarding than you did by submitting this post.

I have had the sad misfortune to have met a number of individuals over the past 6 years in the middle east who displayed a similar 'I'm going to make a fortune' attitude, and regardless of the fact that they were (to my utter astonishment) in positions of grave responsibility, I can honestly say that I wouldn't trust them to run a security detail at Tescos.

Unfortunately, the U.S. (and the brits also it has to be said, but to a lesser extent) has made a habit of giving high level security clearances to individuals who are woefully unqualified to do the kind of work that Todd has so modestly referred to in his post. This unfortunately leads to a perception amongst the uninitiated that ALL those who work in this field have an attitude similar to that held by Todd.

I'd just like to redress the balance somewhat and say that we are not all Walter Mitty characters... But thanks for reinforcing the stereotype Todd... Pity your clients haven't had an opportunity to read your post.... If you were employed by me I would pull the plug immediately.

Apologies for bringing the mood down....keep smiling Thailand...

Geng jaang!

Thanks MG for re-inserting some honest reality for the "todd"s and the "todd wanna-be's" out there...

...good riddance to bad rubbish...

There are lots of expats hurting now and many are hurting because the "social engineering immigration bar" is set too high for a growing number of retirees.

Take America (PLEASE! ), the average monthly retirement check is US$1,057.90 (current as of 2009). Many expats don't meet the financial requirement (so Thailand loses their money) or barely make it.

What will these expats do........well, they will go to the Philippines and Cambodia and Vietnam and other places where they can easily meet the immigration rules and spend their money there.

Or, they will stop spending as much money inside Thailand........becoming Keeeeneouw......."cheap" as Thais say. They have no way to increase their income because of crazy rules related to business that I don't even want to go into here.

Many expats have left Thailand already........others are about to follow them. Thailand is the loser, not the expats with money to spend....maybe not big money, but they have good money for Asia.

[CrossBones]

I expect the economic crash will lead to a lot more Expats in Thailand.. since its so cheap here - will be a cheaper alternative to other places for people wanting to retire or "give up"

[colino]

When i was in the UK last month I watched a program about ex pats in Spain.. trying to sell 250,000 Euro homes that they had brought , At Auction going for 90,000 Euros.

I think That there are more worse of expats in Spain than Thailand.

Ps Why do people feel that they have to brag about how much money they earn on posts like this,

Jeez its like laying cockroach traps out , post a topic like this one and watch them crawl out of their holes.

If they earn sooo much money why are they sitting in some massive villa typing away on TV ,?????????

colino

[ParadiseLost]

Wow...!

ThaiVisa is a great source for information about Thailand but I've never felt compelled to create an account and offer my opinion on anything... Until now.

Todd (...in answer to a previous posters question regarding whether this individual is from the U.S or not; in over 44 years I've yet to meet a Brit named Todd, but I've met a few americans who were)... So.... Todd, I sincerely hope that you display better judgement when you are 'doing' your high end security, protection and guarding than you did by submitting this post.

I have had the sad misfortune to have met a number of individuals over the past 6 years in the middle east who displayed a similar 'I'm going to make a fortune' attitude, and regardless of the fact that they were (to my utter astonishment) in positions of grave responsibility, I can honestly say that I wouldn't trust them to run a security detail at Tescos.

Unfortunately, the U.S. (and the brits also it has to be said, but to a lesser extent) has made a habit of giving high level security clearances to individuals who are woefully unqualified to do the kind of work that Todd has so modestly referred to in his post. This unfortunately leads to a perception amongst the uninitiated that ALL those who work in this field have an attitude similar to that held by Todd.

I'd just like to redress the balance somewhat and say that we are not all Walter Mitty characters... But thanks for reinforcing the stereotype Todd... Pity your clients haven't had an opportunity to read your post.... If you were employed by me I would pull the plug immediately.

Apologies for bringing the mood down....keep smiling Thailand...

Geng jaang!

Thanks MG for re-inserting some honest reality for the "todd"s and the "todd wanna-be's" out there...

...good riddance to bad rubbish...

We should be careful not to steroidtype guys like Todd, they can be scary

[WeeGB]

When i was in the UK last month I watched a program about ex pats in Spain.. trying to sell 250,000 Euro homes that they had brought , At Auction going for 90,000 Euros.

I think That there are more worse of expats in Spain than Thailand.

Ps Why do people feel that they have to brag about how much money they earn on posts like this,

Jeez its like laying cockroach traps out , post a topic like this one and watch them crawl out of their holes.

If they earn sooo much money why are they sitting in some massive villa typing away on TV ,?????????

colino

Totally agree with you on this one "colino". I know many expats in Spain who've either gone back to the Uk, or are faced with losing huge amounts of money, trying to sell homes they've bought there. I even know a gay couple who've seperated over this, one chap chose Spain to buy a villa and the other went along with it, despite having reservations. Now they can't afford to live there, and are trying to sell for half the money they paid, five years ago. As I understand it, the cost of living in Spain has skyrocketed, and is now similar to UK prices, whereas before, it was reasonably cheap to live there.