As Ruble plunges, so does Russian tourism in Thailand

[webfact]

As Ruble Plunges, So Does Russian Tourism In Thailand
Susan Cunningham

The Russians are leaving! The Russians are leaving!

(FORBES) I was in the process of writing about the drop in Russian visitors to Thailand and the region as the result the devaluation of the ruble. Now it turns out that the plunge in January was more drastic than forecast, as the Bangkok Post reported March 20.

There were 46% fewer Russian arrivals in Thailand in January 2015 than the year before: 145,605 this year versus 269,479 in January 2014. While the December-January period is always Thailand’s high tourism season, bear in mind that tourism in early 2014 was depressed by Bangkok street rallies that ultimately led to the May military coup.

The huge January 2015 drop in Russian visitors followed year-on-year declines of approximately 27%, 23% and 21% in October, November and December, respectively, according to the Tourism Authority of Thailand.

In the 4th quarter of 2013, there were more than 600,00 Russian visitors to Thailand, while in the 4th quarter of 2014 there were fewer than 200,000 according to the PATA (Pacific Asia Travel Association) mPower database.

Full story: http://www.forbes.com/sites/susancunningham/2015/03/25/as-ruble-plunges-so-does-russian-tourism-in-thailand/

-- Forbes 2015-03-26

[kuiburi]

The eurozone will leave to , euro down to 34 .

Many retired people will not be able to extend there longterm visa , income dropped by 25% .

[ezzra]

Good riddance... as they say, too much of a good thing ain't good no more, so way too

many Russian tourist falls into this category... Thailand need a better class of tourist,

they have enough riff ruffs (Chinese) and backpackers already to content with...

[Dannyboy666]

Bye Bye, Don't let Moobaan Gate hit u in the A&$, on the way out...

[jerojero]

Why is this a surprise. Common sense would dictate a steep reduction in Russian vacationers given rubles historic downfall.

[alfalfa19]

There's a silver lining in every cloud, I reckon.

[ExPratt]

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Why is this a surprise. Common sense would dictate a steep reduction in Russian vacationers given rubles historic downfall.

Thats what I though,Obviously I won't believe it until TATs Head of statistical brilliance confirms it

I shall keep a keen eye on the News forum today waiting for the "Man Lands on Moon" Thread

[Laughing Gravy]

I would be interested to know how much money they actually spend here in Thailand and not just how many visitors come here. From my observations I find the Russians extremely frugal or tighter than a ducks ass. I just don't understand when on holiday you would refuse to pay 100 baht for a deck chair or buy a water or beer from a vendor, instead walking to the Mini Mart or 7-11 saving 1 or 2 baht.

[Suffinator]

I remember the days when I got 78 baht to the pound sterling. When I left Thailand it was down to 49. Certainly I feel sorry for any retiree trying to live off a state pension as prices continue to increase along with the rise of the baht.

[NanLaew]

Russian tourism is down GLOBALLY; no news there. As for claims that they were a frugal, penny-pinching lot, wait till you check out their Chinese replacements. You aint seen nuthin' yet!

And as those that can see beyond this ugly hatred of all things Slavic, there's a whole world for hurt coming down on the retirees from the Eurozone that have set up shop here. The Russians were the low-hanging fruit. Who's next? Only the smart ones are volunteering to go home while they still have a pot to p!ss in, IMHO.

[Equalizer]

I know that the Russians who bought up a lot of property here 4 or 5 years back will be rubbing their hands now. If they cash in their chips now they will double their money. That's what i would be doing considering the only reason all this is happening is purely down to political sanctions and oil prices. When these sanctions are lifted the currency will return to stability.

[empireboy]

Sweeta music to my ears!

[Bullie]

To all the doom-gloomers here: in my opinion it is only a matter of time before the baht will devaluate, theis export position is being ruined if they don't. Look at the surrounding countries, see how the ringit has devaluated etc.

And if not - we can all just pack up and go, cambodia to me is looking more attractive every month.

[Sandman77]

Iam part of euro zone and Iam still here!

But let us not forget that the Bhat is also to strong!

In Philipine I got around 30 Procent more for the euro at moment like in thailand !

We must sit only in the next airplane move to another country and stop whining!

Most of Russians here come to Pattaya make dirty bisness fake property's that never exists , and this kind of people are richer then before!

The last 2 month the rubble rises little bit and not plunge !

[spacebass]

I know that the Russians who bought up a lot of property here 4 or 5 years back will be rubbing their hands now. If they cash in their chips now they will double their money. That's what i would be doing considering the only reason all this is happening is purely down to political sanctions and oil prices. When these sanctions are lifted the currency will return to stability.

Putin might live a long time !

[noikrit]

Makes you wonder about all those condos under construction with minimal payments laid down on "off the plan" purchases. Will they be able to make final payments ?? or are we going to see a price drop and or many unfinnished condos ...

[konying]

The eurozone will leave to , euro down to 34 .

Many retired people will not be able to extend there longterm visa , income dropped by 25% .

I am afraid below 32 already. Banks rate

[NanLaew]

Makes you wonder about all those condos under construction with minimal payments laid down on "off the plan" purchases. Will they be able to make final payments ?? or are we going to see a price drop and or many unfinnished condos ...

Do you recall the Bangkok skyline after the crash of 1997?

[JOC]

I would be interested to know how much money they actually spend here in Thailand and not just how many visitors come here. From my observations I find the Russians extremely frugal or tighter than a ducks ass. I just don't understand when on holiday you would refuse to pay 100 baht for a deck chair or buy a water or beer from a vendor, instead walking to the Mini Mart or 7-11 saving 1 or 2 baht.

You seem to forget, that the among the most popular threads on Thaivisa are:

"My favorite gourmet-meal a 7-11"

or

"The validity of the 7-11 rebate coupons ?"

It is not only the Russians!!

[jamie obda]

Baht should crash. Only US dollar strong now.

[Pinot]

Fewer tourists is positive. Fewer Russians is positive. Less construction is positive. The infrastructure can't keep up with the former growth. It's all good.

[Strangebrew]

Oh well guess the dumb farang being myself was right but I knew it all along. Now In a few months BOT is going to feel the burn as investment's go to neighboring countries and the balance sheet looks like chit. Then she can create new lies about what is happening. I hear Soi dog ate all the baht is the newest excuse. Creative at least.

[chainarong]

Regardless whether it is Russia or some other country , when the economy goes South the two main concerns for people is job security and survival , people working will put off holidays so that the golden handshakes doesn't happen while they are away and the unfortunate who are now out of work , they possibly will never have the opportunity to travel ever again, so in a nutshell, everyone pulls in the purses strings , disposable income is critical to survival, hard luck TAT, the last thing on most Russian people minds , would be holidays .

[PattayaPhom]

I would be interested to know how much money they actually spend here in Thailand and not just how many visitors come here. From my observations I find the Russians extremely frugal or tighter than a ducks ass. I just don't understand when on holiday you would refuse to pay 100 baht for a deck chair or buy a water or beer from a vendor, instead walking to the Mini Mart or 7-11 saving 1 or 2 baht.

They just spend in different places. Why not be frugal. In all honesty, Lotus in Pattaya, look at the Russians trollies, most are full with clothes, meats, dairy products. Then look at other Foreigners and Thais, half empty trollies with cheap food in.

[jpeg]

I would be interested to know how much money they actually spend here in Thailand and not just how many visitors come here. From my observations I find the Russians extremely frugal or tighter than a ducks ass. I just don't understand when on holiday you would refuse to pay 100 baht for a deck chair or buy a water or beer from a vendor, instead walking to the Mini Mart or 7-11 saving 1 or 2 baht.

I believe 'tourism' is of secondary importance to many of them. They seem to see Thailand and it's highly corrupt practices as a golden opportunity to open many diverse 'businesses' here as well as pimping out their women. Love the 'online workers'. 90% of my spam box now written in cyrillic. Russians = New Nigerians.

[JOC]

I would be interested to know how much money they actually spend here in Thailand and not just how many visitors come here. From my observations I find the Russians extremely frugal or tighter than a ducks ass. I just don't understand when on holiday you would refuse to pay 100 baht for a deck chair or buy a water or beer from a vendor, instead walking to the Mini Mart or 7-11 saving 1 or 2 baht.

I believe 'tourism' is of secondary importance to many of them. They seem to see Thailand and it's highly corrupt practices as a golden opportunity to open many diverse 'businesses' here as well as pimping out their women. Love the 'online workers'. 90% of my spam box now written in cyrillic. Russians = New Nigerians.

90% of my spam box now written in cyrillic.

Says more about you than about the Russians........................

[Howiehotspur]

I know that the Russians who bought up a lot of property here 4 or 5 years back will be rubbing their hands now. If they cash in their chips now they will double their money. That's what i would be doing considering the only reason all this is happening is purely down to political sanctions and oil prices. When these sanctions are lifted the currency will return to stability.

. Cash in to who ? .. Is there a selling market , I understand what your saying but I'm not sure there's a massive demand , having just rented out a property for a year , there was so much choice there's going to be a lot of empty / unfinished units about now that's for sure .

[trogers]

I remember the days when I got 78 baht to the pound sterling. When I left Thailand it was down to 49. Certainly I feel sorry for any retiree trying to live off a state pension as prices continue to increase along with the rise of the baht.

And here is further bad news. The UK's public debt is still at £78,000 per citizen. Another few rounds of QE may bring it down to 36.

[zig]

I know that the Russians who bought up a lot of property here 4 or 5 years back will be rubbing their hands now. If they cash in their chips now they will double their money. That's what i would be doing considering the only reason all this is happening is purely down to political sanctions and oil prices. When these sanctions are lifted the currency will return to stability.

They could just have kept their money in USD and still double it...

[northernphil]

I remember the days when I got 78 baht to the pound sterling. When I left Thailand it was down to 49. Certainly I feel sorry for any retiree trying to live off a state pension as prices continue to increase along with the rise of the baht.

Yep I was getting 73B - Quid in 2004 when I first came over here, Lloyds bank said at the time I was getting a good rate. I didn't know then what was good and what was not so good. This time last year I was geeting out more as 2500B better off per month then now. But I can live on the state pension,, couldn't back in the uk.