Economic recession in Pattaya?

[bkk6060]

2 minutes ago, GAZZPA said:

Difficult to say what the real situation is, can't really get reliable data form Thailand. However, I can say for sure that everybody seems to be downbeat. I know a few hardware shop owners who sell to developers that are really struggling and their view is building is slowing down. I also note many, many bars and restaurants sitting empty whereas if my memory serves were once much busier. I don't have data to support this but I have lived through a few recessions in my life and Pattaya feels like it is in one.

 

Another factor is I have seen a dozen or more people leave this year, a couple have gone to Spain, 2 couples I know back to the US, 1 family back to the UK. All giving various reasons for leaving but a common thread is no money here, exchange rate issues or fed up with the "anti foreign" attitude that seems to be breeding locally.

 

I run a business here and it is difficult right now. Can get business but making the margins is tough as people seem to haggle more and more.

 

I think it has to be that Thailand is not helping itself in ever growing competition in SEA. Other countries do seem to be more open arms and are spending time and money on developing infrastructure and paving the way for the next 10 or 20 years. Thailand is doing some of that but not as much in my view.

 

I guess the locals can hope that a new government run by professional politicians and not soldiers should bring results in the new year, if not I can always go home, but feel sorry for the locals if something does not change.

 

There is no recession here.

People need to remember this is a normal slow time.

People back to work and students in school.

It will start getting busy again next month then continue.

 

The places that are good in town are busy from my observation.

But there are too many bad service, food, staff places some in obscure locations here that no one cares about. Too many people who have little business sense the town is full of them.

 

I agree with your infrastructure comments but with that comes a much more expensive place such as SIngapore.  Which by the way many people are leaving now in fact many are moving to Thailand due the the lower cost of living.  

 

As far as a new government being better I actually have seen much more money being put into these infrastructure projects then from the previous government.  They are improving infrastructure all over the country from what I see.

 

 

[Rimmer]

Off topic none sense post removed

[newnative]

3 hours ago, GAZZPA said:

Difficult to say what the real situation is, can't really get reliable data form Thailand. However, I can say for sure that everybody seems to be downbeat. I know a few hardware shop owners who sell to developers that are really struggling and their view is building is slowing down. I also note many, many bars and restaurants sitting empty whereas if my memory serves were once much busier. I don't have data to support this but I have lived through a few recessions in my life and Pattaya feels like it is in one.

 

Another factor is I have seen a dozen or more people leave this year, a couple have gone to Spain, 2 couples I know back to the US, 1 family back to the UK. All giving various reasons for leaving but a common thread is no money here, exchange rate issues or fed up with the "anti foreign" attitude that seems to be breeding locally.

 

I run a business here and it is difficult right now. Can get business but making the margins is tough as people seem to haggle more and more.

 

I think it has to be that Thailand is not helping itself in ever growing competition in SEA. Other countries do seem to be more open arms and are spending time and money on developing infrastructure and paving the way for the next 10 or 20 years. Thailand is doing some of that but not as much in my view.

 

I guess the locals can hope that a new government run by professional politicians and not soldiers should bring results in the new year, if not I can always go home, but feel sorry for the locals if something does not change.

 

     I don't know where you are posting from but building is certainly not slowing down in Pattaya. Dozens of mega condo projects have opened in the past few years.  Lots are still under construction or in the beginning stages, including Riviera Jomtien, Monaco, Espana, The One, Diamond Tower, Empire, Copacabana, Ocean Drive, Andromeda, The Edge, and others. New hotels are going up and others, such as Amari, are expanding.  The massive Terminal 21 opened Friday and I've never seen so many people in Pattaya before--enormous crowds.  The tourist mix is changing and supply and demand will sort out how many business of what type--such as bars--are needed.