Weakening Baht affects tour agencies

[webfact]

Weakening baht affects tour agencies

BANGKOK, 30 August 2013 (NNT)-The Thai Travel Agents Association (TTAA) has revealed that the weakening Baht will affect tour agencies offering overseas trips as a number of reservations have declined.

According to the TTAA, fewer Thais have been hiring the tour agencies to organize overseas trips particularly to Europe and the United States. The decline in reservations is a result of the weakening baht and the plunging stock market, which has been so for 9 consecutive days.

The slower consumption in the country, the TTAA said, is also another reason why people have become reluctant to go overseas as they are starting to save their money.

However, more Thais are making more trips to Asian nations as regional currencies are becoming cheaper against the greenback. Many tour agencies have adapted to the trend and have been selling fewer trips to Europe and the US to keep their businesses afloat while the currency fluctuation remains at risk.


-- NNT 2013-08-30

[laurentbkk]

Than stay in Thailand instead of travelling abroad ..... its the fault to no one ....

[Thait Spot]

well, according to the TAT, the world recession never affected tourism in Thailand.......

[tingtong]

the rich thai who travel Europe and US...few will feel the pinch, it is peanut for those.

weaker baht mean more tourists to Thailand, both from abroad and locals...lot more thai benefit from that.

anyway, what is the point in this?

"However, more Thais are making more trips to Asian nations as regional currencies are becoming cheaper against the greenback."

Thai dont have to change to USD to have these Asian currencies, they have a direct baht to SGD, HKD etc. echange rate...

[phosphorescent]

"The decline in reservations is a result of the weakening baht"

Bullshit! the baht hasn't been weak long enough or depreciated enough to affect plans for trips abroad from Thailand yet.

Edited August 30, 2013 by phosphorescent

[NongKhaiKid]

Wait for it, Wait for it, we have a rice ple.dging scheme and a half arsed rubber scheme so when will the tour operators seek a Tourist Pledging Scheme ?

I know it's easy to joke but this is the climate this idiot government has created for itself

[Ricardo]

One can only hope that there is no similar decline in the taxpayer-funded 5-star/first-class outbound study-tour market, Duty-Free-Shop operators round the world must be quaking in their boots, at the mere thought !

Edited August 30, 2013 by Ricardo

[oldthaihand99]

well, according to the TAT, the world recession never affected tourism in Thailand.......

Years with SARS, floods, psunami, riots & recessions didn't significantly lower tourism from previous years.

In recent years tourism is going through the roof in spite of some such problems.

Thailand : Tourist Arrivals from 1998 till First Quarter 2013.

http://www.thaiwebsites.com/tourism.asp

Edited August 30, 2013 by oldthaihand99

[oldthaihand99]

"The decline in reservations is a result of the weakening baht"

Bullshit! the baht hasn't been weak long enough or depreciated enough to affect plans for trips abroad from Thailand yet.

The recent decline is possibly due to incidents with 2 Italians & 2 Australians (kidnapping & drug planting for extortion).

Which would be a minor glitch in the grand scheme of things, if history has anything to say about it.

[LuckyLew]

cannot have it both ways

[Thai at Heart]

"The decline in reservations is a result of the weakening baht"

Bullshit! the baht hasn't been weak long enough or depreciated enough to affect plans for trips abroad from Thailand yet.

Indeed. 3 weeks of weakening and they can see this?

[hawksway]

About time too. Foreigners have been getting a much poorer deal for some time due to the high value of the Baht.

Net it's better for Exporters who can now sell their goods abroad and for Tourists who will find Thailand more affordable.

Rich Thais will still be able to afford expensive handbags in Paris.

[Orac]

"The decline in reservations is a result of the weakening baht"

Bullshit! the baht hasn't been weak long enough or depreciated enough to affect plans for trips abroad from Thailand yet.

Indeed. 3 weeks of weakening and they can see this?

Have you not noticed the state of the art statistic gathering organisations that Thailand is blessed with and their inerring knack in providing devastatingly accurate polls with a split seconds notice?

[Big Guns]

It's an export driven economy. Even with tourism the majority is an export as its foreigners bringing foreign currency in. Baht depreciation is beneficial for the economy.

[Thai at Heart]

It's an export driven economy. Even with tourism the majority is an export as its foreigners bringing foreign currency in. Baht depreciation is beneficial for the economy.

It should be, but it will also be inflationary and it will also dry up the capital markets as the USA removes it's stimulus cash from market.

The level of money printing that has gone on in the USA is unprecedented. Expect some rocky times. I wouldn't want to be sitting with an unfinished off plan condo right now.

Finance is going to get tighter.

[Mudcrab]

Many tour agencies have adapted to the trend and have been selling fewer trips to Europe and the US to keep their businesses afloat while the currency fluctuation remains at risk.

They have "adapted" to the trend. Wow what a business model. Nobody wants to buy the product...therefore we will adapt by selling less. Brilliant.

[rishi]

"The decline in reservations is a result of the weakening baht"

Bullshit! the baht hasn't been weak long enough or depreciated enough to affect plans for trips abroad from Thailand yet.

Besides... The Baht has strenghtened over the last couple of days and at closing time this Friday was at level with the rate last Friday afternoon despite a steady decline the first days of this week. Seems that the complainers don't follow changes that closely.

Edited August 30, 2013 by rishi

[ChrisY1]

Tourists will continue to come here.....in reality, the value of the Baht/Dollar/Kroner/Pound/etc has a negligible effect on purchasing holidays.....unless there is a significant devaluation/revaluation....people love Thailand....

[expat888]

well, according to the TAT, the world recession never affected tourism in Thailand.......

Years with SARS, floods, psunami, riots & recessions didn't significantly lower tourism from previous years.

In recent years tourism is going through the roof in spite of some such problems.

Thailand : Tourist Arrivals from 1998 till First Quarter 2013.

http://www.thaiwebsites.com/tourism.asp

That's Thai propaganda.

[expat888]

It's an export driven economy. Even with tourism the majority is an export as its foreigners bringing foreign currency in. Baht depreciation is beneficial for the economy.

And there's the economy Thais don't want to talk about. Expat fleecing and scamming. Houses, cars, educations, children support, "sponsors", sick cows, sick grandmothers, visas, double pricing, and my favorite, "I want gold for my birthday". Thais don't like to talk about this flood of cash into their country.

Edited August 30, 2013 by expat888

[The Blot]

Yeah, Right!!!... The Thai Bath is still strong against western currencies...

Only one word can I say... Corruption!

[Gummigalgen]

Like in Holland an Amsterdam touroperator had to file for bankrupcy last Tue.27/08. Existed 41 years ! With focus on SEA. Prepare for what may come due to consumer crisis and currency flowings.

[davidstipek]

"The decline in reservations is a result of the weakening baht"

Bullshit! the baht hasn't been weak long enough or depreciated enough to affect plans for trips abroad from Thailand yet.

This is funny!! Usually you are told to book your flights in advance. Is the Tour Industry saying that "All their Customers they supposidly lost were related to David Copperfield, or Houdini? If so why did they not apply for Employment in LasVegas?? Always room for another Magic Show...

Anyway what every they Lost "Supposidly" will be more then tripled with the influx of Farang coming to Thailand because they currency is now more value!! Then everyone here will benifit from the money spent... not just a few of the chosen ones...

If not then the reason for the decline, has nothing to do with any shape or form, of anyones "Economy". "Anyway, The Baht has strengthened over the last few days... Are we not, "a cats wisker" from where it was last Friday....???"

If you can't use a reasonable excuse... "Don't Use Any At All!" Better yet if you don't want to spend it...and don't like the rate of exchange... "Don't Go!" But don't go blaming your failing Economy on anyone outside Thailand or Dubia, "That's a fact... Jack!"

(Maybe it's the Fees your try to impose on them because of your continuing Greed!) Hmmm... Maybe if I am reading this right, they are canceling... correct? So apparently they bought at one price, now you are stalling to try and raise this price... Correct? (So you don't lose money!!) They're not Supid! You refuse to honor they contracts... They Cancel!!! Yes the real reason!! Gottcha!

Edited August 30, 2013 by metisdead
Over usage of bold font removed.

[lee b]

I'm doing ok with my currency, well better than i was 2 months ago anyway

[davidstipek]

I'm doing ok with my currency, well better than i was 2 months ago anyway

Exactly! Plus you are spending more correct?

Edited August 30, 2013 by davidstipek

[trainman34014]

They haven't even mentioned those ghastly Farang's who book all their own travel on the web and never use the agents. I'm sure they will realise it's all our fault eventually !

[Yunla]

Thailand is sitting on a goldmine, they could invest in infrastructure (all aspects), real-wage economics, environmentally sustainable resorts, go all-out on a corruption nullpoint, throw the criminals out of Govt, and then they would see tourism skyrocket in this nation, which would boost the economy and Thailand's status globally, and bring rewards to every man woman and child in this Nation. But instead they say, 'oh an enormous goldmine, yeah very nice but it would take effort to get the gold out so lets just leave it and just hope the baht goes up again intime for next holiday.'

Edited August 30, 2013 by Yunla

[i claudius]

Thailand is the hub of overseas tours. well its the hub of everything else ,so why not?

[annabel]

well, according to the TAT, the world recession never affected tourism in Thailand.......

ANd how is that .................??? Shouldn't the weakening dear Baht give the tourist more value for their money ...?? And encourage them to come here even more ..?? Ok maybe I am missing something here ...

[nong38]

In the spring the baht was strong, look at us we are strong as we survey the rows of exports not moving, now the baht is weak..........I dont understand this financial stuff, whats the problem and why are all those farangs going to Malaysia, Cambodia, Vietnam and Burma, they must be mad Thailand is amusing! ( one day I must go to those countries see what all the fuss is then come back and tell everyone how amusing Thailand is).