Strong baht, crazy prices are scaring off tourists
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It’s pathetic but entertaining to see Thaksin Shinawatra and his allies blaming Thailand’s sluggish economic performance on Prayut Chan-o-cha and the lack of democracy. The truth is that most economies in the world are in decline, including those of the b
Unfortunately the baht is currently too strong for Thailand’s declining trade partners. I myself have lost more than 30 per cent of my purchasing power in Thailand in the last year because of the strong baht and failure of my home country’s currency.
Prices in Thailand have risen fast and are now nearing levels you see in southern Europe. Here on the Algarve coast of Portugal, my daily cup of Americano coffee costs the equivalent of between Bt25 and Bt50. In which Thai tourist area can you find an Americano for Bt25? Imported goods from China, including popular Western brands, are often also sold cheaper in European malls than in Thailand. My new bathing shoes purchased in Thailand were 30-per-cent cheaper here.
To prevent foreign visitors opting for alternative destinations, Thailand must act quickly to curb the rising tourist prices and the strong baht.
The problem is exacerbated by too many foreigners and foreign-influenced Thais in the tourist businesses who want to make money faster than is desirable for the long-term interests of the country. After testing the economic “pain threshold” of tourists in recent years, have they perhaps gone too far and find themselves unable to reset the situation? Meanwhile the influx of short-stay Chinese tourists is making the statistics look good, but probably masking a decline of lucrative long-stay visitors from elsewhere.
A North Country Man
