Thailand tourism faces uncertainty over Brexit fallout

Wes Martin

A screenshot of the London Stock Exchange minutes after opening today. Image: Gazette file

MARKETS across Asia are reeling after it became known this afternoon that Great Britain will exit the European Union.

Investors are fleeing to more stable currencies, such as the US dollar, the Swiss Franc and the Japanese Yen, causing major upheavals in Japan whose government has been trying to devalue the Yen in an effort to increase exports and stimulate economic activity.

The Stock Exchange of Thailand sloughed off 40 points after a day of heavy trading, as investors scramble to cope with the Brexit financial fallout. The SET fell below the 1,400 benchmark that economists predicted in a Brexit scenario.

Full story: http://www.phuketgazette.net/thailand-news/Thailand-tourism-faces-uncertainty-Brexit-fallout/64122

-- Phuket Gazette 2016-06-25

There's only one thing for it; stop propping up the baht and let it settle naturally back to 75 to the pound.

Why would Thailand tourism face uncertainty over the Brexit 'fallout'. It will not make one bit of difference. Not one British tourist will say 'Oh we can't go to Thailand this year because we have left the EU'. Not one German tourist will say 'oh we can't go to Thailand this year because the UK left the EU'.

The graph shown above is disingenuous as the end of day trading was back up significantly. The freefall at the start of the market was caused by wan*er traders selling off like crazy only to buy back when prices hit 8-9% lower than they were, it was a set-up.

Why would Thailand tourism face uncertainty over the Brexit 'fallout'. It will not make one bit of difference. Not one British tourist will say 'Oh we can't go to Thailand this year because we have left the EU'. Not one German tourist will say 'oh we can't go to Thailand this year because the UK left the EU'.

The graph shown above is disingenuous as the end of day trading was back up significantly. The freefall at the start of the market was caused by wan*er traders selling off like crazy only to buy back when prices hit 8-9% lower than they were, it was a set-up.

Perhaps your right. But would the devalue of the euro to the baht make some difference in a person's decision? Also, wouldn't the losses from the stock market deter someone from traveling until they recover?

Why would Thailand tourism face uncertainty over the Brexit 'fallout'. It will not make one bit of difference. Not one British tourist will say 'Oh we can't go to Thailand this year because we have left the EU'. Not one German tourist will say 'oh we can't go to Thailand this year because the UK left the EU'.

The graph shown above is disingenuous as the end of day trading was back up significantly. The freefall at the start of the market was caused by wan*er traders selling off like crazy only to buy back when prices hit 8-9% lower than they were, it was a set-up.

The British pound ended 9% down yesterday (at one point fell 10%).

It is expected to fall more over the coming weeks.

I think many tourists that come here from UK are on a tight budget. The fall in the value of the pound, increasing costs, higher taxes (predicted) will certainly make some of them consider their "dream holiday in Thailand".

It may not be so many , but it certainly will be felt.

No No No, nothing ever affects tourism here. I know because the minister keeps telling us how wonderful things are even if there's a nuclear war somewhere in that world outside.

Kobkarn in 1..2.. Brexit or indeed the entire rest of the world exiting the universe will have no effect on Thai tourism which will grow at least 20% this quarter. Cue in NNTB.

Of cause it will affect British tourism to Thailand,weaker Sterling,

strong Baht,uncertainty over jobs,the amount of debt the average

UK person has (and rest of the world it seems),but TAT would never

admit this.maybe it would affect other European tourists too,who knows.

regards Worgeordie

vernon,erik, dieter will still turn up, just buying more beer at 7-11 than at a soi-6 bar.

no more ftse,dax and wall st leads, it should be the pattaya 7-11 index as the market guide.

No No No, nothing ever affects tourism here. I know because the minister keeps telling us how wonderful things are even if there's a nuclear war somewhere in that world outside.

Oh so true. Whenever tourism numbers drop off from one area of the world Thailand just says it was offset by increased numbers from another part of the world.

In the Thai Universe, it's impossible to hurt Thailand tourism numbers for any significant amount of time...it's just not a law of physics (or tourism) allowed in the Thai Universe. Speaking such nonsense is considered heresy.

Why would Thailand tourism face uncertainty over the Brexit 'fallout'. It will not make one bit of difference. Not one British tourist will say 'Oh we can't go to Thailand this year because we have left the EU'. Not one German tourist will say 'oh we can't go to Thailand this year because the UK left the EU'.

The graph shown above is disingenuous as the end of day trading was back up significantly. The freefall at the start of the market was caused by wan*er traders selling off like crazy only to buy back when prices hit 8-9% lower than they were, it was a set-up.

"Why would Thailand tourism face uncertainty over the Brexit 'fallout'. It will not make one bit of difference. Not one British tourist will say 'Oh we can't go to Thailand this year because we have left the EU'. Not one German tourist will say 'oh we can't go to Thailand this year because the UK left the EU'.

The UK people may however say "Let's not have a holiday this year because out pund just won't buy as much as it did last year, and the prices for flights and accommodation and sightseeing and... and... are going to go up."

And the German people may say "Too much unpredictability in the markets, let's go next year - and Thailand is likely to blow up anyway so, let's go to Vietnam instead.

You don't work in the tourism industry by any chance I suppose?

W

Edited June 25, 201610 yr by Winniedapu

All of us who have lived here for any time know perfectly well what hurts Thai tourism.

And it is all down to the shabby and money-grubbing way the Thai tourist industry treats its "tourists".

Of cause it will affect British tourism to Thailand,weaker Sterling,

strong Baht,uncertainty over jobs,the amount of debt the average

UK person has (and rest of the world it seems),but TAT would never

admit this.maybe it would affect other European tourists too,who knows.

regards Worgeordie

As the news people try to give an idea what may happen it's already said holidays will be more expensive while exports will benefit.

A lot will depend on the speed at which it all happens as Cameron and others have said No Rush but people within the EU are saying ' if you want out get on with it. "

Not sure what the rate is now, but at one point yesterday I was set for an equivalent drop of over 35,000thb per month in my monthly salary,, paid in UK pounds but more than 95% of my spending is done in thailand,, so for sure it will have an impact

No No No, nothing ever affects tourism here. I know because the minister keeps telling us how wonderful things are even if there's a nuclear war somewhere in that world outside.

It's not that it's so wonderful in Thailand, it's just that it's worse nearly everywhere else.

Edited June 25, 201610 yr by Broken Record

A great opportunity for UK to make more bilateral trade deals with South East Asian countries,hope New ambassador Mr Davison is on board

There's only one thing for it; stop propping up the baht and let it settle naturally back to 75 to the pound.

You will never see that exchange rate again.

I don't think the Thai ex-pat situation is unduly affected.....(yes you will get 5 Baht less for your pound---until the dust settles)

But look at Britain's largest ex-pats population, Spain.......so many 1,000s of houses & villas have been brought there over the years. I wonder if the situation will affect that..................................

Not sure what the rate is now, but at one point yesterday I was set for an equivalent drop of over 35,000thb per month in my monthly salary,, paid in UK pounds but more than 95% of my spending is done in thailand,, so for sure it will have an impact

48.3 Friday,it's been worse.

Not sure what the rate is now, but at one point yesterday I was set for an equivalent drop of over 35,000thb per month in my monthly salary,, paid in UK pounds but more than 95% of my spending is done in thailand,, so for sure it will have an impact

Still leaves you with 315,000 Baht?

I don't think the Thai ex-pat situation is unduly affected.....(yes you will get 5 Baht less for your pound---until the dust settles)

But look at Britain's largest ex-pats population, Spain.......so many 1,000s of houses & villas have been brought there over the years. I wonder if the situation will affect that..................................

it won't.

I have no idea how many visas and work permits i have had to get for countries. I am at around the 100 mark for cojntries visited, mostly for work over the last 25 years. You know how many visas or work permits i have had rejected?

None.

(that isn't a dig at you mate, i know it looks like it. I'm just trying to provide a bit of clarity to what many are worrying about)

Thailand tourism faces uncertainty over Brexit fallout

Spin that!.......TAT

There's only one thing for it; stop propping up the baht and let it settle naturally back to 75 to the pound.

You will never see that exchange rate again.

I fear you speak the truth. At least not until the UK gets itself sorted out and kicks the Thatcherite menace into touch.

W

Why would Thailand tourism face uncertainty over the Brexit 'fallout'. It will not make one bit of difference. Not one British tourist will say 'Oh we can't go to Thailand this year because we have left the EU'. Not one German tourist will say 'oh we can't go to Thailand this year because the UK left the EU'.

The graph shown above is disingenuous as the end of day trading was back up significantly. The freefall at the start of the market was caused by wan*er traders selling off like crazy only to buy back when prices hit 8-9% lower than they were, it was a set-up.

The British pound ended 9% down yesterday (at one point fell 10%).

It is expected to fall more over the coming weeks.

I think many tourists that come here from UK are on a tight budget. The fall in the value of the pound, increasing costs, higher taxes (predicted) will certainly make some of them consider their "dream holiday in Thailand".

It may not be so many , but it certainly will be felt.

Hurray! We should be seeing less backpackers, full moon parties, and sex tourists...

I don't think the Thai ex-pat situation is unduly affected.....(yes you will get 5 Baht less for your pound---until the dust settles)

But look at Britain's largest ex-pats population, Spain.......so many 1,000s of houses & villas have been brought there over the years. I wonder if the situation will affect that..................................

It won't effect Thailand so much as they are already losing Europeans to other countries which are taking a bigger chunk of the tourism pie. Over the years I have seen a steady decline from Europe despite the hype from TAT.

Putting aside the flights of fantasy from the minister and TAT if tourism from any and all sources drop the usual Thai business model will kick in, just jack up the prices to make up for less customers !

Why would Thailand tourism face uncertainty over the Brexit 'fallout'. It will not make one bit of difference. Not one British tourist will say 'Oh we can't go to Thailand this year because we have left the EU'. Not one German tourist will say 'oh we can't go to Thailand this year because the UK left the EU'.

The graph shown above is disingenuous as the end of day trading was back up significantly. The freefall at the start of the market was caused by wan*er traders selling off like crazy only to buy back when prices hit 8-9% lower than they were, it was a set-up.

The British pound ended 9% down yesterday (at one point fell 10%).

It is expected to fall more over the coming weeks.

I think many tourists that come here from UK are on a tight budget. The fall in the value of the pound, increasing costs, higher taxes (predicted) will certainly make some of them consider their "dream holiday in Thailand".

It may not be so many , but it certainly will be felt.

Hurray! We should be seeing less backpackers, full moon parties, and sex tourists...

Hmmm. I don't see any of those anyway. Where do you like to go to see them?

I'll make a mental note to stay away...

W

Edited June 25, 201610 yr by Winniedapu

I doubt that Brexit will have much impact on tourist numbers. The only thing that would seriously affect British or EU member tourist numbers would be if the sex industry shut down.

The pound down 20% and no effect on tourism in Thailand?