Westerners and Their Money

[Undaunted]

Does the weakness of western currencies affect their tourist numbers?

https://thethaiger.com/hot-news/tourism ... o-thailand

[jason105]

As long as the dollar doesn't drop below 30, it is still a bargain to travel to LOS.
Looking forward to a visit in September/October this year.
All the best

[Captain Kirk]

If it's your favourite place to visit then you'll make the extra effort but there also may come a point that you begin to wonder if there is somewhere else you can look at. I'll admit I'm around about that point just now. Each visit to LOS gives ever diminishing returns vis-a-vis the exchange rate. First visit was £1 to 70B and this year £1 to 40B. I do yearn for the "olden" days of the 70B but they ain't coming back. Following Brexit I expect that may fall even further. If it wasn't for the desire to meet up with my friend as often as I can then I would certainly be looking at other places.

[fountainhall]

For my first 18 years of visiting Thailand, the exchange rate for £1 was always Bt. 40 or below because the Baht's exchange rate was fixed at US$1 = Bt. 25. Yet Thailand always seemed a bargain. Then it became bargain basement time when the baht lost half its value a few months after the start of the 1997 Asian Economic crisis. Many retailers did not adjust the price of existing stock so a lot of major items could be purchased at half price! Hotels were virtually a steal!

Sadly inflation is as much a factor here as it is in most places. So with the sterling rate way back down again, I am sure more UK citizens will be thinking twice before deciding on Thailand as their holiday destination.

[Undaunted]

Sadly inflation is as much a factor here as it is in most places. So with the sterling rate way back down again, I am sure more UK citizens will be thinking twice before deciding on Thailand as their holiday destination.

I think inflation has little or nothing to do with the strength of the baht and the weakening of most western currencies, prices for mainstay items in Thailand hardly change.

[belg0001]

My first visit , 1 euro = 50 Bth . Now it is less than 35 ! I used to stay in good hotels in Bangkok and didn't pat attention to the prices in the bars...Now I stay in Pattaya and tip only for really good service.

[Jun]

Actually, low inflation generally contributes to the strength of a currency.

I have always had a tendency to live within my means, save for a rainy day & invest globally.
Savings can easily be made in various areas. For example, the car on my drive is probably worth just over £1000 & should be good for another 5~10 years. Money not spent on a flash car can be invested. If investing in Asia, when the pound goes down, the sterling value of your portfolio tends to go up & purchasing power is preserved. Do this for 30 years & the result is not bad.

All that remains is the psychological barrier of paying £10 for a drink in a ~Bangkok gogo. (Same for the off fee, tip etc)

As a result, I intend to carry on going to Thailand.

The only difference is now I limit the number of visits to Bangkok gogo bars, since 2 drinks an off and a tip can come to almost £100. So I have shorter stays in Bangkok, with a mixture of bar visits and phone app dates. I'm more likely to move down to Pattaya for that kind of entertainment.

Also, the length of my trips to Thailand (& surrounding region) is increasing. I have been travelling around more. In places like Isan, some great value hotels can be had for as little as 500 baht a night. These are not flea pits, but something clean & stylish, on par with an Ibis. Occasionally a nice lad might join me in the room. Often for 1000 baht & sometimes (admittedly infrequently), for nothing.

So that's how it works for me.

Those who have been spending every penny they earn are obviously going to have to make adjustments when the exchange rate moves from 70 baht to 39 baht. So I expect some downward pressure on tourist numbers. However, so far the planes are still looking fairly full.

Incidentally, since I hope to be around for over 30 years, it's necessary to invest in assets which generate a return and have inflation protection (likely to be needed eventually). So if global stock markets have a major disaster, I might just have to reign things in.

[windwalker]

So if global stock markets have a major disaster, I might just have to reign things in.

I had to do some searching, but it is rein not reign, although they both sound the same. Yes, I know, just trivia.

[Jun]

I had to do some searching, but it is rein not reign, although they both sound the same. Yes, I know, just trivia.

Agreed. Apologies for letting standards slip. It's amazing how often I find myself typing something incorrectly, when I know the correct way. This case included.

[fountainhall]

Blame auto-correct. I have lost count of the number of times I enter a word correctly and then find something different in the text.