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Discuss culture, living, traveling, relocating, dating or anything related to the Asian countries - China, The Philippines, Thailand, etc.
5 posts • Page 1 of 1
Thailand seems to be having a currency crisis. "There's no near-term resolution in sight, Thailand has entered an extended period of political instability."
Thailand Is Imploding
http://www.zerohedge.com/news/2013-12-2 ... -imploding
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Seems to have a currency crisis?
Thailand is already in a currency crisis. The place is now 12% cheaper for me since June, and the pound is really accelerating away now. I guess the property boom will end badly in some way or another. I gather Thai households are up to their eyeballs in debt. When the government hikes interest rates they'll be bust.
I am intending to go back there, but I'll use Bangkok as a base while I explore other countries. However, plan B is that I've found out there are now direct flights from London to Manila, and at very attractive prices for a 15 hr flight.
I've seen all kinds of fake stats about Thailand's tourist industry. But the cold hard facts are that my hotel was DEAD in November/December - and less busy than it was in the Summer "low season".
While life goes in in Thailand for now, if a political party decides to play the easy "it's the Farangs' fault", then things will get very ugly indeed.
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The current currency weakening isn't just limited to the thb but most asian region developing nations. Institutional investors are just shifting money back to the EU and the US. It really has nothing to do with political instability or whatever vague reasons pumped by the media. The reasons are largely macro in scale. Btw 33 to the dollar is still not that good. If it hits 40- or so to the $ then that's worth talking about.