TO DISCUSS YOUR PROJECT OR LEARN MORE ABOUT OUR SERVICES:

  • This field is for validation purposes and should be left unchanged.

CURRENCY CRISIS Thai Baht Surges Past 1997 Level

Category: Tourism, Posted:07 Oct 2010 | 09:15 am

For the first time in 13 years the Thai baht has fallen under the THB30 level against the US dollar. As of the close of business yesterday the rate stood at THB29.94.
Despite political woes early in the year the baht's advance has strengthened 11% within 2010.
In 1997 the milestone Asian contagion led to a catastrophic devaluation of the Thai currency and played a key role in a regional financial meltdown.
Financial analysts expect the USD rate to further erode and the same scenario is seeing appreciation of key Asian currencies.
For the tourism and property market the net effect comes at a time when there is a dynamic swing towards growing market share for short haul tourism.
Both the British pound and Euro have remained volatile for the last 24 months.
Perhaps the hardest hit in the current scenario are expatriates living on the island who have dollar or pound denominated savings or recurring income. They are being impacted by double digit increases in the cost of living.
This is also playing down in the real estate sector for midscale primary purchasers who will become end users.
For now the west continues to reel from an unclear forward outlook to economic recovery, and Asia is seeing tremendous capital inflows of investment into the markets.

Other News

Read more

Vietnam Tourism Voices  – The Tiger Roars Back

Category: Tourism, Posted:24 Sep 2021 | 13:40 pm Next Tuesday join C9 Hotelworks and Delivering Asia Communications for an in-depth look at Vietnam’s return of the international marketplace. Vietnam’s tourism and hotel market is focused an upcoming ‘Sandbox-style’ reopening for international travel. With the Vietnamese resort island of Phu Quoc taking center stage in a proof of concept, the hospitality industry in this […]
Read more

Manic Monday. No Rain, No Rainbows

Category: Tourism, Posted:20 Sep 2021 | 14:24 pm Rainy days and Mondays are no reason to get down. We have three new Thai Road Trip episodes from C9 Hotelworks and our friends at Delivering Asia Communications for you. Have a seat, throw the umbrella out the window and take a look now. INSIDE STORY Bill Heinecke’s Phuket Resort Home Phuket Hotel Insight – […]
Read more

After The Sandbox – Phuket Hotels Ask What’s Next?

Category: Hotels, Posted:16 Sep 2021 | 09:37 am The resort island of Phuket’s proof of concept Sandbox advantage looks to dramatically change come October. Since the first of July island hotels have experienced considerably higher occupancy levels and much-needed revenue from international arrivals. This has been Sandbox generated, and travelers, not necessarily tourists. Bangkokians fleeing the red zone situation have also aided in […]