Who Is Leaving Thailand Because Of Its Currency?

[xoxman]

it's going down since years and this is the point that scars me

[brotch]

We went back to London for 2 years , Now back in Thailand thank god , For those of you that left Uk long ago you would have a shock if you thought you would live on £1000.00 a month , And you may think you will work , well you would have another shock because there are 100 people after the same job and if you have not had the insight to make sure you have a property you already own to move to, you will be renting and your £1000 a month will just about cover the rent , We have noticed that it costs a lot more now but rents are low and schools are affordable . I have seen all this before in the UK and around the world its a 10 year circle you just look around you, too much borrowed money spent on building that they cant sell cars they cant pay for and its just a matter of time before the bart has to down as exports will fall jobs will go and everyone ( banks ) will want there money ,

[tigermonkey]

I'm really sorry to see that so many are suffering from the strenghthening Baht, but I truly feel that most of these folks did not truly do their homework before coming here, and came here on a wing and a prayer. Sorry to say it, but for some the cheap vacation is over, yet some of the blame for your woes rests with your home countries - the UK and USA have both performed miserably for quite a few years. It's all relative; when I began moving here in 2004, I was getting 28.90 Baht per CAD, and now I get 27.58, which is not a huge change.

During the interim, there have been rates as high as 36 baht, and we chose one such period to transfer a decent sum of money here to start a business. Now we are amply self sufficent in Thailand ( the King's advice), and still have a home and good income in Canada.

Good luck to all who are suffering, but please don't moan about it !

[muratremix]

Its not only the stronger baht, everything become more and more expensive here thanks to 300 baht / day wage and other stuff. I heard atm fees for farang card increased from 150 baht to 180 baht (it should be opposite, considering stronger baht vs weaker USD). Price Inflation in groceries and food (even street food) is noticable.

[somtampet]

Its not only the stronger baht, everything become more and more expensive here thanks to 300 baht / day wage and other stuff. I heard atm fees for farang card increased from 150 baht to 180 baht (it should be opposite, considering stronger baht vs weaker USD). Price Inflation in groceries and food (even street food) is noticable.

The strong baht is the biggest influence of less money than anything.I dont think anybody would be dumb enough to think price increases would never happen.I allowed for a 5% pa inflation,beeen here nearly 10 years,and i am spending about 50% more but thats more due to the weak gbp.No country in the world has zero inflation,and even if i lived in the uk again,i would budget exactly the same.

Nobody moaned when i t was 77 baht to the gbp,including myself,but wasnt that deluded to think it would stay like that,however i didnt expect it to be 43.6 in 2013.I have sympathey for the guys who are on a strict budget,and show contempt for the ones who critisise them

[TheGhostWithin]

For most Expats - the problem is what has happened to the currency in their home country - not what has happened to the Thai Baht...

The NZ and Aussie dollars are among the highest performing currencies in the last 12 months (as is the Baht) - and the NZ and Aussie dollars have also lost ground against it. The company which transfers my baht has gone from 24.5 a few months ago to 23 in the past few days. Coincidentally, the NZ dollar has also hit near all time highs against the dollar at 0.87 cents. It isn't all about the weakness of the dollar, it is also about the strength of the baht. The export sector (and now tourism sector, which affects many other sectors such as the food and beverage and entertainment sectors) are beginning to show signs of weakness. The governments continued borrowing of foreign funds will further strengthen the Baht. This protects against external inflation generated by the devaluation of the dollar but makes buying anything from Thailand much more expensive than traditionally expected.

[yoslim]

I would really like to meet the 63 people who voted they would stay even if THB reaches parity with USD, They must be very very rich to be able to afford a 60,000$ per month lifestyle

[raro]

1000 euros was never 55.000 baht ... not after 2008 never higher than 50.something

and if he gets his pension in euros, why is he worried about the low dollar rate ?

post makes no sense

In the end of 1997 the Deutsche Mark was trading @ about 28 to the Baht - that corresponds to about 56 Baht per Euro. When I came to Thailand in May 1997 it was still 1:16. Later on it settled at 1:20 and then the corresponding 1:40 to the Euro.

Actually, in the early Euro days the conversion rate was about 37 Baht per Euro - pretty much what we have nowadays.

[stoli]

Only the fourth thread on more or less the same theme!

Might consider staying if the currency is changed to bhat.

You seem to have trouble with the same theme popping up. The baht is ever changing, and different needs for some poeple are realized each time their income goes down. The stock market changes daily and changes peoples plans also. I guess my real question is "Does someone have a gun pointed at your head making you read posts that you do not want to read, or could you just skip them without complaining? Give it a try, you will live longer.

[sunshine51]

Personally I reckon this entire post is a troll.

Why? Who cares about somebody elses personal finances?

I sure as hell don't. I have an old friend, a retired USMC Infantry

Colonel, who left LOS last year in August because his kids

school fees were too dam_n expensive. That was his choice,

however he also chose to reside in a place in Southern California

that blows a retired Colonels pension way off the charts.

As far as the Baht reaching something akin to 1-1 with the USD

I reckon that's not gonna happen so the poster "yoslim" and his

$60K USD per month is way off the dart board...just imagine what

that would do to the tourist trade that LOS depends so heavily upon;

it would be finished...save for perhaps the Middle Eastern types

& they're not that rich anymore either.

Yes the exchange rate sucks at the moment...for numerous

reasons well beyond LOS exchange rate...hang in there...it

will rebound. That you can bank on.

One last point...a long time ago..when the back of my ears

were still wet...a Lt Colonel told me that it was..."Dam_n hard

to live like a Major on a 2nd Lt's wages. He was right...and that's

a few words I'd like to pass on to ohers...for what they're worth

if you want to listen. LOS is still very affordable...if you make it so.

[MRJOHNNY]

I don't believe that many people would really stay at one baht to one dollar. 30 dollars for street noodles? Are you having a laugh?

In my case 25 to the dollar was something I saw as a worse case scenario. It's not a happy thing that it's getting there. I'm not making any moving plans yet but again this is not a happy thing.

I've been coming and going for the last 15 years, 3 months in LOS and 3 months in Blighty to chase the work and money, I have a modest house in Rayong which I had built, a lovely Thai wife and a beautiful 6 year old son, but it is getting increasingly difficult to get by, I'm not one of the lucky ones who can actually settle full time in LOS due to my financial status, when I first came here it was about 44 baht to the pound but gradually increased to a high of 75 baht averaging about 66 over the years, not too bad you say, we all no wages in England were better, cost of living in LOS was cheaper (3 large bottles of chang 95 baht), but now its gone tits up everywhere I myself am struggling and no doubt some of you long time residents are feeling it. Not much any of us can do about it, but if you're cosidering returning to the UK, THINK TWICE, better to be happy and hard up than hard up and depressed back in Blighty unless of course you decide to do as I have done and split your time between both countries, but even thats not cheap. Good luck everyone.

[OMGImInPattaya]

I would really like to meet the 63 people who voted they would stay even if THB reaches parity with USD, They must be very very rich to be able to afford a 60,000$ per month lifestyle

No...because our assets are denominated in BAHT so we no longer deal with our former home currencies. We earn interest/dividends and other investment gains in baht. We no longer have to convert a foreign currency to baht to fund our existence in Thailand. Therefore, we don't care how weak they become. In fact, the weaker they become, the richer we become if we ever reconverted our assets and repatriated back home.

In reality, a 1 to 1 rate will never happen, but if it did, our net worth in dollars would be 30x greater so we don't fear it. Of course, this does nothing for us if we continue to reside in Thailand...except that we don't suffer any foreign exchange risk in dealing with currency and when receiving investment capital gains/interest.

Edited April 24, 2013 by OMGImInPattaya

[Rajab Al Zarahni]

Personally I reckon this entire post is a troll.

Why? Who cares about somebody elses personal finances?

I sure as hell don't. I have an old friend, a retired USMC Infantry

Colonel, who left LOS last year in August because his kids

school fees were too dam_n expensive. That was his choice,

however he also chose to reside in a place in Southern California

that blows a retired Colonels pension way off the charts.

As far as the Baht reaching something akin to 1-1 with the USD

I reckon that's not gonna happen so the poster "yoslim" and his

$60K USD per month is way off the dart board...just imagine what

that would do to the tourist trade that LOS depends so heavily upon;

it would be finished...save for perhaps the Middle Eastern types

& they're not that rich anymore either.

Yes the exchange rate sucks at the moment...for numerous

reasons well beyond LOS exchange rate...hang in there...it

will rebound. That you can bank on.

One last point...a long time ago..when the back of my ears

were still wet...a Lt Colonel told me that it was..."Dam_n hard

to live like a Major on a 2nd Lt's wages. He was right...and that's

a few words I'd like to pass on to ohers...for what they're worth

if you want to listen. LOS is still very affordable...if you make it so.

I applied to join the army but they had no vacancies for Generals

[SantiSuk]

Poorly thought out poll, as picked up on by others. The results mean nothing because of the huge gap between 4 and 5 that most of the respondents probably fall into.

I venture that most people who still have most of heir wealth in their country of origin would consider {sic} leaving (to go elsewhere - not necessarily back to their country of origin) if the exchange rate moved to say 20 baht to the dollar. Having considered it most would probably wait a while further before reassessing. There is no option offered for such people

[willyumcr]

If you live here and and want to make Thailand your home. You should have invested your money here and bought rental property like condos and good Thai shares like PTT. I hope the Baht keeps appreciating and then I can afford more overseas holidays

Had you invested in the US stock market, you wouldn't be to concerned about the rise in the baht.

[nomad127]

Tell your friend to move to Vietnam where his 1,000 Euros will get him almost 28 million Dong, that should make him feel rich.

[JDGRUEN]

Strong Baht - Alternatives to Thailand ... lots of interest has been expressed about a contingency plan... My first choice will remain Thailand for lots of reasons. I believe my lifestyle choices will allow me to live in Thailand and do 'okay'. But long ago the Army taught me to have contingency plans... here is my backup choice ... Panama..

More information on Panama at this link than is listed further below:

https://secure.internationalliving.com/PAI2013/EPAIP4A2?o=975975&s=981491&u=59643030&l=562521&r=Milo

April 21, 2013

Dear International Living Reader:

Comfortable retirement. That’s an oxymoron for anyone living in the U.S., Canada, or Europe these days.

If that’s you, listen up: there’s a tiny little country where all your retirement dreams can come true: Panama.

And Panama wants YOU! That’s right. Tiny little Panama... the squiggle of a country that connects two continents and earns billions of dollars every year from that little revenue stream known as the Panama Canal... would love for you to retire to one of its many appealing locales. Beaches, mountains, farmland, rainforest, and one heck of a cosmopolitan Latin-influenced city—Panama has it all.

With its top-rated, world-class pensionado program, in fact, Panama has thrown out the red carpet for foreign retirees. As a Panama pensionado, you can bring your household goods into the country duty-free—including your car—and get tremendous discounts on everything from utility bills to medical bills, and on airfares, restaurants, entertainment events, and much, much more.

Plus, you’ll be treated like a celebrity. No standing in lines at banks or at the utility companies... Instead, you’ll be treated with dignity and respect. (It’s true: respect for seniors is a law in Panama—Law 9, adopted in 1987.)

And guess what? Panama is less than a three-hour flight from Miami. (Less time than it takes to fly from New York to Los Angeles.) And yes, it’s safe, with a very stable government and one of the fastest-growing economies on the planet.

Any convenience you might want can be found there... from affordable-but-top-notch health care (several Panama City hospitals are affiliated with top U.S. hospitals) to high-speed internet, all your best-loved television channels, all your favorite food brands in supermarkets, and more...

Panama offers a high standard of living and a low cost of living.

For $3,500 a month you’ll live luxuriously in the city. But most expats report that they are living quite happily and without sacrifices on a monthly budget of $2,000 or less.

If you’ve ever considered retiring or starting a new life overseas, Panama should be at the top of your list.

Ready to learn more? You can do that right here...

Regards,

Jackie Flynn ... Publisher, International Living

[Nowisee]

I'll leave if it gets to 27. Spend some time in central america, a nice change of venue, regroup.

If the Thai economy takes a dump I'll return and live well.

If the baht continues up, I'll move to central america. Not worth putting up with Thailand when my money is better appreciated in another country.

After all it's my choice what I do and where I live

Pura vida

[manxninja]

When the USA decide not to pay China back the loans then you will see a new currency war.

Give it around five years.

[Annonymous]

What about the BitCoin currency? gonna open a new pol for this one!

[lovetotravel]

Be careful what International Living prints. They make a lot of money from their real estate projects. Which they push heavily in their newsletters, websites and seminars. I visited Panama a few years ago. It's OK. But it ain't Thailand.

As for the rest of Central America, only Panama or Costa Rica would compare. The rest have too many issues. Security being number one.

I found CR to be extremely expensive.

[Dukeleto]

The 5th choice in your poll is nonsense, The last clause "even if 1 Thai Baht becomes equal to 1 USD" is rediculous and needs to be ignored if anyone selects this choice (which I did). If the Thai Baht gets to parity with the US Dollar, a bowl of noodle soup on the street (B30) will cost the equivalent of $30.00. I can have a steak in Chicago for that price. It will never happen, but it is dumb to limit someones choice to the absurd. I do not worry about the value of the Baht against the US Dollar or other foreign currency (except to decide if I should transfer more money into Thailand now or wait), but at some point long before the Baht and US Dollar become equal in value, I would start to consider whether my and my family's well being are best served remaining in Thailand. For people that chose to live in Thailand just byecause it is cheap, it may not hold the appeal it once had. For those of us that chose to live in Thailand because we like/love the culture, the people and all that Thailand has to offer, this is "home" and will remain so regardless of what happens to the Thai Baht.

Your friend feels poor because he is poor, and he will likely feel that way no matter where he goes -- E1000 per month just won't buy much any where these days. And it is likely to get worse, not better. Help him pack -- better, help him find a place to go where he can live on E1000 and feel "rich". Good luck with that!

If the dollar collapses it may indeed reach parity to the Thai Baht.

[Annonymous]

What about the BitCoin currency? gonna open a new pol for this one!

http://www.thaivisa.com/forum/topic/635098-the-bitcoin-currency-in-thailand/

[up2me4now]

First thread. Now only have 35,000 baht a month to live on. Hey I think the same guy was moaning about 55k was not enough to live on 4 years ago but hes still here ! Typical example of never happy unless he's complaining, and he will always have plenty of supporters in the land of smiles, its full of his sort.

[sendbaht]

I wish that I had a 35,000 baht per month to spend.

That would be like a dream come true would it not Ulysses...sometimes we would even take the red car instead of walking...we can dream..))))

[raro]

since this topic is not really Pattaya related I move it to the economic section.

[fredob43]

Strong Baht - Alternatives to Thailand ... lots of interest has been expressed about a contingency plan... My first choice will remain Thailand for lots of reasons. I believe my lifestyle choices will allow me to live in Thailand and do 'okay'. But long ago the Army taught me to have contingency plans... here is my backup choice ... Panama..

More information on Panama at this link than is listed further below:

https://secure.internationalliving.com/PAI2013/EPAIP4A2?o=975975&s=981491&u=59643030&l=562521&r=Milo

April 21, 2013

Dear International Living Reader:

Comfortable retirement. That’s an oxymoron for anyone living in the U.S., Canada, or Europe these days.

If that’s you, listen up: there’s a tiny little country where all your retirement dreams can come true: Panama.

And Panama wants YOU! That’s right. Tiny little Panama... the squiggle of a country that connects two continents and earns billions of dollars every year from that little revenue stream known as the Panama Canal... would love for you to retire to one of its many appealing locales. Beaches, mountains, farmland, rainforest, and one heck of a cosmopolitan Latin-influenced city—Panama has it all.

With its top-rated, world-class pensionado program, in fact, Panama has thrown out the red carpet for foreign retirees. As a Panama pensionado, you can bring your household goods into the country duty-free—including your car—and get tremendous discounts on everything from utility bills to medical bills, and on airfares, restaurants, entertainment events, and much, much more.

Plus, you’ll be treated like a celebrity. No standing in lines at banks or at the utility companies... Instead, you’ll be treated with dignity and respect. (It’s true: respect for seniors is a law in Panama—Law 9, adopted in 1987.)

And guess what? Panama is less than a three-hour flight from Miami. (Less time than it takes to fly from New York to Los Angeles.) And yes, it’s safe, with a very stable government and one of the fastest-growing economies on the planet.

Any convenience you might want can be found there... from affordable-but-top-notch health care (several Panama City hospitals are affiliated with top U.S. hospitals) to high-speed internet, all your best-loved television channels, all your favorite food brands in supermarkets, and more...

Panama offers a high standard of living and a low cost of living.

For $3,500 a month you’ll live luxuriously in the city. But most expats report that they are living quite happily and without sacrifices on a monthly budget of $2,000 or less.

If you’ve ever considered retiring or starting a new life overseas, Panama should be at the top of your list.

Ready to learn more? You can do that right here...

Regards,

Jackie Flynn ... Publisher, International Living

I have to agree with your post about Panama spent quite some time there whilst taking a boat through the canal. Just one thing you seem to have omited and that's the Bug's and fly's there's milions of the bugger's.

[hellstens]

The problem is if you get 1120 Euros a month you cant live here and even less so in Europe. How can you survive on 1120 € in France?

I live good on that money in Thailand, but no way I can do that in Sweden.

OK I DON'T live in Pattaya (thanks god) I live a nice comfortable Life in Uthai Thani,

I rent a large house (5 bedrooms and kitchen with large garden) for 4000thb/month

and every thing is much cheaper here to, I even have a new car and give my mother in law money every month

In Sweden I can't have anything for that money.lol

But if you can't live on 42000thb in a month you have problem.

Edited April 25, 2013 by hellstens

[Traveling Sailor]

I live in a small town in Southern Thailand. Two years now. I am retired, on a fixed income, and will be leaving, partly due to the strengthning of the baht. I get less Baht every month for my $, and the cost of living keeps going up. If things continue going the way they are now, I will be better off in the US than I am here.

[hagler]

I guess older people need to realise that the balance of economic power is swinging away from status quo they have lived their lives under and adapt accordingly.

This century is going to be the one of Asia and a lot of the standards of living that people have been used to in the West will diminish and so will their currency.

Countries like Thailand are only going to go from relative strength to strength over the coming years and decades. I made my comittment to living a significant proportion of my retirement year in Thailand quite a few years ago now (in my early 40's) and planned ahead accordingly by buying some condominiums with the view to eventually living in 1 and leasing the others out. I was lucky and bought at a very good time when prices were very depressed and so got 3 really good deals that have had great appreciation both in rental return and capital growth and 10 years on I am very happy with the financial position they are sitting in. All 3 are leased out and In 4 years when I retire full time I will continue to lease 2 out recieving the rent in baht and take possesion of the third and turn it into my home. Probably only spend 4 or 5 months a year there and it will sit vacant for the rest of the year waiting for my return from my travels.

Without those "buffers" longer term I may have had to review my staying in LOS as part of my retirement.