Thailand's political situation, concern over living costs

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COST OF LIVING
Political situation, concern over living costs
Petchanet Pratruangkrai
The Nation


Shoppers head for Siam Center, while the University of the Thai Chamber of Commerce says its surveys project that spending during the New Year festival will grow by only 5.6 per cent from the same period last year to Bt111.75 billion, held down by concern

BANGKOK: -- Spending by Thai consumers over the New Year holiday is projected to grow by just 5.6 per cent compared to the same period last year, due to weak sentiment arising from concern over the political conflict and the higher cost of living.

A survey by the University of the Thai Chamber of Commerce covering 1,188 respondents showed New Year consumer spending would expand by the smallest amount since the economy began to recover from the severe flooding in 2011

Some Bt111.75 billion is expected to be spent over the holiday period.

"Spending is expected to grow slightly this year, as the impact from the internal conflict has resulted in lower consumer confidence. People are tending to spend less on everything, including luxury goods and durable goods - and on celebrating," Thanavath Phonvichai, director of the UTCC's Economic and Business Forecasting Centre, said yesterday.

Last year, spending during the New Year festivities rose by 15.6 per cent to Bt105.82 billion, as there was a positive outlook amid recovering economic growth.

Besides the political situation, consumers are also reluctant to spend their money at this time of year out of worry over the rising cost of living, he said.

An expected increase in the price of diesel next year, after the duty waiver ends on December 31, has added to the public's concern.

He said that although the government was currently acting in a caretaker capacity, it should do something to curb diesel prices, otherwise the effects could be felt in higher goods prices and living costs next year.

Thanavath added that if diesel prices increased next year, economic growth could come in lower than expected, at only 3-4 per cent.

UTCC president Saowanee Thairungroj said consumers already expected that their incomes would increase only slightly when compared with the rising cost of living next year.

About 57 per cent of respondents said goods prices in 2014 would increase, while their savings would be slightly lower than this year's level.

Almost 44 per cent of respondents said their debt had increased this year, while 33 per cent said it was unchanged and the remainder said it had been lowered.

Saowanee said expenditure in the household sector was quite worrying, as respondents said they had to borrow more for daily spending rather than for investment or buying a home.

Wachara Kuntaweethep, assistant director of the forecasting centre, said the survey had found that most spending during the New Year period would go on travel, the purchase of durable goods, buying gifts, celebrations and donations.

On average, Thais will spend Bt11,816 per person over the New Year. Popular New Year's presents are fruit baskets, gift baskets, gift vouchers and cheques, snacks, food supplements, greeting cards, durable goods, alcohol, handicrafts, luxury items, clothes and One Tambon One Product items.

More travellers will go abroad than last year. Of the respondents who said they would travel, 15.7 per cent said they would go overseas, while just 10.9 per cent went abroad last year.

Thais intending to make a journey will each spend an average of Bt9,856 on domestic travel, and Bt75,228 on overseas trips over the New Year's holiday.

Asia has become a more popular destination among Thai travellers, while the central region is the most popular destination for domestic travel.

However, 0.6 per cent fewer travellers plan to visit Bangkok and nearby provinces than last year, due to concern over the ongoing political turbulence.


-- The Nation 2013-12-25

[andygunther]

I have long wondered how people can survive with only 9000 Bht / month.
(7eleven employee who works 6 days / week)

[noitom]

I made it a practice to go to Asia books or Kunikuniya for gift books for Thai family and friends of all ages for a long time. I will never forget any of the disappointed looks of Thais when the nicely wrapped book presents were open. When Thais see a book as a gift, their expression is the epitomy of disappointment and despair.

[Chupup]

Well on the whole the Poor Peoples Government is certainly keeping them POOR, and if they are reelected look for more of the same

[Asiantravel]

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

I have wondered more about how people can afford to buy new cars, iPhones etc on 9000 per month ?

[scorecard]

Well on the whole the Poor Peoples Government is certainly keeping them POOR, and if they are reelected look for more of the same alt=whistling.gif pagespeed_url_hash=3700464609 width=19 height=18>

[scorecard]

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

I have wondered more about how people can afford to buy new cars, iPhones etc on 9000 per month ? alt=blink.png pagespeed_url_hash=3007605675 width=20 height=20>

Very easy access to credit.

[Asiantravel]

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

I have wondered more about how people can afford to buy new cars, iPhones etc on 9000 per month ? alt=blink.png pagespeed_url_hash=3007605675 width=20 height=20>

Very easy access to credit.

A scourge on Thai society

[NHJ]

 

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

 

7/11 employees are paid around 15k per month.

[PaullyW]

 

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

 

7/11 employees are paid around 15k per month.

And a good percentage of Thai women whore themselves out as well (to Thais and non-Thais).

[Emdog]

"When Thais see a book as a gift, their expression is the epitomy of disappointment and despair." My ex wife (bless her black heart) always asked for specific books and novels for me to bring back from trips to USA. Imagine my amazement when I first met her: she was reading a novel, in English! And I am not talking about Dick and Jane books either.

If we get to stage of civil war, I think Bangkok would not be a good choice to live in. If I were a red shirt commander, I would cut all supplies to Bangkok. Maybe time to stock up like Mormons?

[tingtongteesood]

 

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

 

7/11 employees are paid around 15k per month.

That's why everything in that shop costs more than at the supermarket.

[ratcatcher]

 

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

 

7/11 employees are paid around 15k per month.

And a good percentage of Thai women whore themselves out as well (to Thais and non-Thais).

Do you know this first hand or is it a wild guess. A good percentage is anything over 50%.

Are 50% of Thai women in the whoresale business?

And I bet those that are in the whoresale business are making more than B15,000 a month

[Baerboxer]

 

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

 

7/11 employees are paid around 15k per month.

And a good percentage of Thai women whore themselves out as well (to Thais and non-Thais).

Do you know this first hand or is it a wild guess. A good percentage is anything over 50%.

Are 50% of Thai women in the whoresale business?

And I bet those that are in the whoresale business are making more than B15,000 a month

He probably knows f/all - but its a good urban myth bar stool "fact' to trot out. Let's face it, if you spent all your time in Nana, Soi Cowboy, Walking street etc you'd probably believe this too.

[Bpuumike]

I made it a practice to go to Asia books or Kunikuniya for gift books for Thai family and friends of all ages for a long time. I will never forget any of the disappointed looks of Thais when the nicely wrapped book presents were open. When Thais see a book as a gift, their expression is the epitomy of disappointment and despair.

Have used up my 'likes' but quite agree.

It needs to be something they can eat, drink or spend.

[Bpuumike]

7/11 employees are paid around 15k per month.

And a good percentage of Thai women whore themselves out as well (to Thais and non-Thais).

Do you know this first hand or is it a wild guess. A good percentage is anything over 50%.

Are 50% of Thai women in the whoresale business?

And I bet those that are in the whoresale business are making more than B15,000 a month

He probably knows f/all - but its a good urban myth bar stool "fact' to trot out. Let's face it, if you spent all your time in Nana, Soi Cowboy, Walking street etc you'd probably believe this too.

I believe it's around 2% and most of that is 'local' Thai trade which you probably don't notice outside of Nana, etc.

Take a drive down Petchburi for example and check out how many 'massage' establishments you will find. Most of them with fairly full car parks too.

Thai wives seem to accept it but mine has a sharp pair of scissors

Otherwise, what is a wife? In any country. OK, they want financial security as most of them don't have the earning power us guys do.

But I am very happy with what I have.

Edited December 26, 2013 by Bpuumike

[andygunther]

 

I have long wondered how people can survive with only 9000 Bht / month.

(7eleven employee who works 6 days / week)

 

7/11 employees are paid around 15k per month.

Not the one I know !! She works on Koh Chang 6 day/week