Thailand tourism faces uncertainty over Brexit fallout

[jerojero]

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

poor poor you. Only 300, 000 per month income. F.sakes.....majority in Thailand would kill for your income! Quit complaining!

[cyberfarang]

The fall of the £ and the downturn of stocks and in the general market as a whole was expected if Britain voted for Brexit. I am sure the Bank of England were also aware this was going to happen, have a plan B and will not let the £ crash down to rock bottom and the whole British economy go with it.

I expect this situation may last for several weeks until all uncertainties are settled and the market begins to have confidence again then we should see a gradual pick up and a slow increase in stocks values and strengthening of the £.

Obviously this must have an affect on tourism but how bad an affect on Thailand I have no idea.

[NongKhaiKid]

If Nicola Sturgeon tries to use this result as an excuse to have another earlier referendum in Scotland, and wins,

We haven't see anything yet!

If Nicola gets another referendum vote. The EU may well be finished by then.

If Nicola gets and wins independence, there will be a lot of people needed to build a border, to stop migrants coming to UK via Scotland.

If Scotland gets independence the name UK will cease to exist.

[Thian]

Now the East-Europeans have to leave the UK so there will be plenty jobs in construction and so. The Brittish labourers can get their jobs back and go to Pattaya on holidays.

So i think it's only good for Thailand.

Those East-Eu workers will go to Europe mainland to find a job so i guess that will cost many people their job.....unless they also all leave the EU

[NongKhaiKid]

Doubt it will have more than a slight affect on visitors from the UK.

More interesting: has anyone considered how the UK referendum vote might influence the people of Thailand in their forthcoming referendum? The Thai people might be inspired to be brave...

Unfortunately the mechanics of how these referendums have been / are being organised and operated are more than just a little different.

Both camps in the UK version had equal opportunity to air their positions whereas here ... !

[D3030]

Well, some said tourism was doomed for sure, after the 3 stooges from Wales got knocked out..

[Scotwight]

Posh Brits no longer will be able to afford the South of France and Monaco and will come to Thailand. Look for better quality singlets and more understandable accents.

[Farang99]

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

Wonderful though that would be, chance would be a fine thing!

[jippytum]

Doomsters always exaggerate the SET finished down 23.21 points .Bad enough and may get worse in the short term However

Warren Buffet 'Buy when others are fearful ' will make you a profit on the SET.

[jippytum]

The doomsters are having a field day .The SET was well off the lows at the close and finished down 23.21 bad enough and may get worse in the short term .If you take Warren Buffet's advice ' Buy when others are fearful ' there is a good long term profit and dividends on quality stocks in the Thai market.to be had for bargain hunters.

Ask yourself why should Thai quality stocks not dependent on exports to Europe plummet because Britain leaves the European Market ????

[petedk]

The Canadian dollar is down almost 24% against the US dollar and then figure in the 6% cost of buying the US dollar..and now the equals at least 30%.....with the Thai Bhat seemingly tied to the US dollar and now you have the CDN dollar down 30% against the Thai Bhat. The same to be said for the AUS dollar

???

[petedk]

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..................................

You are dead right there. Let me give some examples as to why as an English expat in Thailand remain or brexit makes no difference to me:

If I return to England not entitled to NHS treatment until I have stayed there for 6 months (no change there)

When I receive my State pension if living in Thailand, it will be frozen forever from the day I receive it although I have paid my full NI stamp contributions (no change there)

Not entitled to open an onshore bank account in England that pays interest because I’m a non-resident, treated like a foreigner although I have not officially emigrated to become a citizen of another country. The offshore accounts all pay less interest than the onshore accounts, so I can’t benefit from any good deals if the onshore banks have them on offer (no change there)

Not entitled to any UK social security benefits if I ever need them while living in Thailand although I have paid into the system all my working life, never been unemployed or claimed benefits (no change there)

As a resident in Thailand I am entitled to nothing, must totally 100% pay my own way, can’t pay, can’t stay, yet have absolutely no support from my own country`s system I have paid into for most of my life because I am considered a non resident there although I am a true blue British citizen (no change there)

While living in Thailand I am not using the UK NHS service or claiming any UK benefits or allowances, yet I am still taxed on my UK company pension and pitence savings interest, receiving virtually no interest on my offshore savings and my State pension will be frozen, it’s as if I am locked into a no man’s land, almost like being Stateless, almost a foreigner in the UK and a foreigner in Thailand, entitled to nothing yet still paying my way for services I am no longer entitled to receive (no change there)

In fact I would be better off and entitled to more if I were a Syrian refugee illegally entering Britain and claiming political asylum. And why I did not bother to vote in this EU referendum.

I am in exactly the same position as you.

Maybe we should apply for Syrian citizenship.

[hugh2121]

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.

Especially as the Euro is also down. Spain, Portugal, Italy etc. will be looking attractive.

Aircraft fuel, priced in US$ will also become more expensive so long haul flights will become a lot more expensive especially if paying in £'s.

[Tomtomtom69]

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.

True.

However, I thought Thailand only cared about Chinese tourists these days? Even yesterday, on "doen nha prathet Thai" at 6pm when I tuned in about halfway, they were talking only about Chinese tourists and how they should be treated well due to 1) their numbers and 2) they like coming to Thailand, which is great for business. Something about the similar culture was also mentioned.

[natway09]

Dave Austin, that is about the silliest thing I have ever seen posted unless it was "tongue in cheek"

Will never see 75 again in our lifetime

[Sydebolle]

Leave all those worries to the Tourism Authority of Thailand; they will be coughing up yet another headline to the tune of "UK inbound tourism plummeted to 179% of last year" or so. In TAT we trust!

[MyFriend You]

Five years or so ago, I met a British business man that was buying US Dollars like crazy, over beers he said, my father had a business in Germany in the 70's & 80's and did this, later when the dollar got strong he bought Sterling and made a small fortune. If he kept buying $$ for the past five years, he is in a good position to make a killing. All it takes is faith in the USD. Now let all the Economists school me on why buying $$ five years ago was a bad idea.

[jonnyscot]

poor poor you. Only 300, 000 per month income. F.sakes.....majority in Thailand would kill for your income! Quit complaining!

Did I say I was looking for sympathy?,, more likely making a comment in relation as to whether it will have an impact on Brits, which I think it will,,,,, quit being an a$$ and don't jump to inaccurate assumptions on other people's comments.

my response wasn't meant to have some posters sway away from the topic and get their calculators out to dig deeper having guesstimates to see how much they make,

a mistake on my part and I appologise for that, so let's just put that to bed shall we.

Edited June 26, 2016 by jonnyscot

[streetsweeper]

Looks as if the Americans will be buying all of the Thai shrimp this year!

Now that has serious repercussions!

[sub101uk]

Dont forget the 200 Baht ATM surcharge on farang cards in Thailand I hate to think how much is going to cost to get money out of the ATM machine now plus your own banks charges ! Sorry but I have no intention of opening a Thai Bank account . At this rate I think its best to stuff mattress with cash and hope the rats dont eat it . I do hope the grown ups in the UK sort this mess out before its to late as its not a done deal yet . But it clear this problem is not going to go away in a few months if not years .

[jeffreysearch]

If Nicola Sturgeon tries to use this result as an excuse to have another earlier referendum in Scotland, and wins, that really would damage the £. We haven't see anything yet!

Pound Plummets To New Lows; 10Y Gilts Slide Under 1%; British Banks Halted After Crashing

Things are going from bad to worse for the UK. "We’ve seen so many developments around Brexit over the weekend since the FTSE closed and things are now looking even more concerning," Angus Nicholson of IG Ltd., said. "It’s hard to have any idea about where fair value for the pound should be when you look at the fact that Scotland and Northern Ireland could no longer be part of the U.K. within the next year or two."

[jeffreysearch]

Five years or so ago, I met a British business man that was buying US Dollars like crazy, over beers he said, my father had a business in Germany in the 70's & 80's and did this, later when the dollar got strong he bought Sterling and made a small fortune. If he kept buying $$ for the past five years, he is in a good position to make a killing. All it takes is faith in the USD. Now let all the Economists school me on why buying $$ five years ago was a bad idea.

one day the financial world will loose faith in USD$ bcos of ever expanding Gov debt .... then you will know your answer then ... they only run for safety for now... soon they will understand the Fed was lying big time about Amerikan economy... wait until they start printing money again ( stimulus) then you will see the Drop !

[Scotwight]

Five years or so ago, I met a British business man that was buying US Dollars like crazy, over beers he said, my father had a business in Germany in the 70's & 80's and did this, later when the dollar got strong he bought Sterling and made a small fortune. If he kept buying $$ for the past five years, he is in a good position to make a killing. All it takes is faith in the USD. Now let all the Economists school me on why buying $$ five years ago was a bad idea.

one day the financial world will loose faith in USD$ bcos of ever expanding Gov debt .... then you will know your answer then ... they only run for safety for now... soon they will understand the Fed was lying big time about Amerikan economy... wait until they start printing money again ( stimulus) then you will see the Drop !

Yes of course. Now I have some pounds, euros, rubles and Confederate dollars I'll make you a good deal on.