Yuan depreciation may affect Thai tourism

[webfact]

Yuan depreciation may affect Thai tourism

BANGKOK, 14 August 2015 (NNT) - Minister of Tourism and Sports Kobkarn Watthanawarangkul has warned Thai tourism entrepreneurs not to cut prices following the impact of the yuan depreciation, saying doing so may affect price structures.

The minister said China’s depreciation of its currency might affect the Chinese inbound market and suggested that Thai tourism entrepreneurs should maintain their price structures.

They should not decrease prices to attract buyers since a lot of Chinese tourists still traveled to Thailand, said Mrs. Kobkarn.

As for long-term solutions, the minister said she had instructed the Tourism Authority of Thailand to urgently search for new potential markets, especially those in Central Europe, Australia, New Zealand as well as high-purchasing power markets in ASEAN, in order to diversify risk. Mrs. Kobkarn added that the ministry would closely monitor the situation.


-- NNT 2015-08-14

[clockman]

Yesterday, this will not effect tourism! They love to open mouth. Before engaging brain

[PatOngo]

Yuan depreciation may affect Thai tourism

.....well duhhhhh!!!

[Asiantravel]

" urgently search for new potential markets, especially those in Central Europe, Australia, New Zealand "

well good luck with that one

[willyumiii]

I will be very disappointed if this means that we will not have bus loads of rude Chinese tourist here yelling, pushing people, not spending money and taking a crap in public places!

NOT!

Edited August 14, 2015 by willyumiii

[Rancid]

Perhaps Thailand rather than rushing to embrace whoever has the strongest currency on the day, should look at solving the problems within its tourist industry and intrastructure so that it is attractive to everyone all the time.

[chainarong]

" urgently search for new potential markets, especially those in Central Europe, Australia, New Zealand "

well good luck with that one

Most of Australia is unemployed well 7% is and 35% are part time

[thesetat2013]

I believe I said the same yesterday. How can tourism not decline if the YUAN is devalued? Even if it is cheaper to travel here it will still mean Chinese people will be working the same but paying more. That would include travelling. Idiotic for TAT to try and fool people into thinking differently

[ColdSingha]

"They should not decrease prices to attract buyers since a lot of Chinese tourists still traveled to Thailand, said Mrs. Kobkarn."

absolutely zero percent chance of that happening.. now raising prices, thats a different matter

[Spleen]

They see nothing but a fast buck from Tourism and do nothing to enhance a tourists experience , just get their money don't drop prices

[Jimlove]

Yesterday, this will not effect tourism! They love to open mouth. Before engaging brain

Agree with you but ... what brain is that ... ?

The light is on but nobody is home ...

[dageurreotype]

" urgently search for new potential markets, especially those in Central Europe, Australia, New Zealand "

well good luck with that one

Beggars belief she's implying euros and Antipodeans supplant Chinese

[fish fingers]

Perversly, the devaluation might attract chinese tourists to Thailand who now can't afford a holiday in Europe.

Prayuth should be reaching out to the UK and US tourists but he's too much of a xenophobe

[BSJ]

Stop! Stop with the funny stuff that makes me laugh! I got bruised ribs and it hurts when I laugh!

[NCC1701A]

how about this... during a global economic crisis people don't go on vacation...

it is a race to the bottom to devalue currencies worldwide...

except Thailand... we stronger than everybody... strong good, right?

[slapout]

When the tourism ministry start telling retailers how to price services, junk to show you traveled to Thailand, etc maybe the ag. ministry might want to recommend prices to be charged by the dentist. beyond belief.

[DLock]

Is there a more un-cordinated flip-flop Government in the world?

3 days ago - http://www.thaivisa.com/forum/topic/847849-thai-economy-unaffected-by-weakening-yuan/

The very same 3 days ago - http://www.thaivisa.com/forum/topic/847705-devaluation-of-chinese-yuan-thai-exports-could-take-a-hit/

Today - Yuan depreciation may affect Thai tourism.

Perhaps before you open your mouth, sit down, use some logic and critical thinking and consider the possibilities...

You look like retards. Just saying.

[EddieBaBaBoBo]

Also from today: "Devalued yuan to benefit Thai tourism in long run, TCTA believes"

Since the Thai Baht started losing ground before the Yuan, the TCTA figures the Chinese will still be ahead overall and continue to come here in droves. Good luck with that...

[Lupatria]

Smoking heads at the TAT now- how do we sell this as positive news for Thailand?

[Emster23]

Clearly the right hand doesn't know what the left hand is doing here..... If both slide down at about same rate should not matter for goods produced here or in China. Anything imported from country with rising currency will of course be more spendy. We should heed the advice given from the ministries: both raise and lower prices!

[konying]

So the Chinese bus loads will spend less than 0?

Seriously though, what kind of business advice is that NOT to cut prices when customers do not have the money?

[pmugghc]

I believe I said the same yesterday. How can tourism not decline if the YUAN is devalued? Even if it is cheaper to travel here it will still mean Chinese people will be working the same but paying more. That would include travelling. Idiotic for TAT to try and fool people into thinking differently

First of all, we're talking around 3% vs US$. Not earth shattering.

Secondly, if this little devaluation will keep more Chinese employed due to higher exports, would it be totally unrealistic to then infer more Chinese could afford to take overseas vacations?

Yes I know, you'd need to think more than in one knee-jerk reaction.

BTW, it will not be cheaper to travel here for them, I have to assume that's a typo from you.

[thesetat2013]

I believe I said the same yesterday. How can tourism not decline if the YUAN is devalued? Even if it is cheaper to travel here it will still mean Chinese people will be working the same but paying more. That would include travelling. Idiotic for TAT to try and fool people into thinking differently

First of all, we're talking around 3% vs US$. Not earth shattering.

Secondly, if this little devaluation will keep more Chinese employed due to higher exports, would it be totally unrealistic to then infer more Chinese could afford to take overseas vacations?

Yes I know, you'd need to think more than in one knee-jerk reaction.

BTW, it will not be cheaper to travel here for them, I have to assume that's a typo from you.

Your 3% is actually 5% since it first devalued by 2 and then another 3. Secondly, before you post some knee jerk reaction to my comment you should have read the initial article whereas Thailand claims to be cheaper to travel here and I countered. As for increased export as you claim, although is not impossible, but since so many other countries also export the same thing it is feasible that any increase would be negligible if at all. And lastly, you fail to see that any devaluation of a countries currency that is abnormal causes people to rethink travel plans or to cancel them entirely. Unless they are rich and are not using their hard earned salaries from their hard work. In which case the rich don't travel here anyway the same the cheap tourists using tour groups do. So not only did you fail to understand reading English you also jumped the gun shooting my reply with idiotic nonsense that was poorly thought out and unsupported. Next time you should try learning or comprehending what was typed instead of making your knee jerking replies.

[chiang mai]

That 3% or 5% devaluation was RMB against USD, not RMB against THB and most Chinese tours are paid for in RMB or THB, not USD.

A majority of Chinese tours to Thailand are prepaid in China, it's one of the biggest complaints Thai tourism has with Chinese tourism revenue remaining mostly in China.

[pmugghc]

I believe I said the same yesterday. How can tourism not decline if the YUAN is devalued? Even if it is cheaper to travel here it will still mean Chinese people will be working the same but paying more. That would include travelling. Idiotic for TAT to try and fool people into thinking differently

First of all, we're talking around 3% vs US$. Not earth shattering.

Secondly, if this little devaluation will keep more Chinese employed due to higher exports, would it be totally unrealistic to then infer more Chinese could afford to take overseas vacations?

Yes I know, you'd need to think more than in one knee-jerk reaction.

BTW, it will not be cheaper to travel here for them, I have to assume that's a typo from you.

Your 3% is actually 5% since it first devalued by 2 and then another 3. Secondly, before you post some knee jerk reaction to my comment you should have read the initial article whereas Thailand claims to be cheaper to travel here and I countered. As for increased export as you claim, although is not impossible, but since so many other countries also export the same thing it is feasible that any increase would be negligible if at all. And lastly, you fail to see that any devaluation of a countries currency that is abnormal causes people to rethink travel plans or to cancel them entirely. Unless they are rich and are not using their hard earned salaries from their hard work. In which case the rich don't travel here anyway the same the cheap tourists using tour groups do. So not only did you fail to understand reading English you also jumped the gun shooting my reply with idiotic nonsense that was poorly thought out and unsupported. Next time you should try learning or comprehending what was typed instead of making your knee jerking replies.

You're throwing out personal insults, but you're the one making idiotic claims! You should compare the RMB vs the THB. In one month the THB has lost around 4% vs the USD. So how much has the RMB lost vs the THB? But that mathematical equation is probably too hard for you.

http://www.xe.com/currencycharts/?from=USD&to=THB&view=1M

[chiang mai]

Better to look at the one year picture for the complete story, the last 30 days was an anomaly.

[pmugghc]

Here is a 4 year trend:

[chiang mai]

I don't believe that 4 years tells us much at all other than what the history was, trend I think is best looked at on the basis of a 200 day rolling average or thereabouts. The point I wanted to make regarding one year vs one month was that the past month was very unusual for the pair and now that CNY has depreciated the pair has broadly returned to where it was at the start of the month, ergo, the impact on Chinese tourism is virtually nonexistent.

[pmugghc]

Yes, agree, I think it's a storm in a tea-cup.

[lovelomsak]

What difference does it make how many come. Thailand gets no money from their tours. they just boost up the tourist numbers but bring no money in probably cost thais money indirectly when you think of road maintenace,garbage disposal,water usage etc.

Edited August 16, 2015 by metisdead
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