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Bloody Hell Shopping In Thailand Is Expensive!


waerth

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7-Eleven base pay is 6500. I'm sure it is the same in comparable places (Family Mart etc). Several taxi drivers have told me they quit office jobs because they can make more driving a cab. Two of them had been teachers in government schools.

 

 

Flying baht prompts top brass meet

 

 

The soaring value of the baht prompted Prime Minister Yingluck Shinawatra to meet top government officials yesterday.

 

After the meeting Ms Yingluck played down fears over the currency's rapid appreciation, saying so far the strengthening of the baht posed no risks to the economy.

 

Ms Yingluck met Finance Minister Kittiratt Na-Ranong, Bank of Thailand (BoT) governor Prasarn Trairatvorakul and National Economic and Social Development Board (NESDB) secretary-general Arkhom Tempitayapaisit.

 

The meeting was prompted by the local currency closing yesterday at 29.77 baht to the US dollar, surging in value from 31.36 baht to the dollar on the same date last year.

 

The prime minister ordered the Finance Ministry and the NESDB to work closely to manage the baht.

 

American and Japanese quantitative easing has caused currency inflows into Thailand, resulting in the baht appreciation, Ms Yingluck said.

 

"There is no sign of danger, but we want to be prepared and have alternatives to offer to the private sector," she said. "Don't panic. The government will take appropriate measures and keep the public informed."

 

Ms Yingluck said the BoT estimates that the baht is likely to continue to appreciate, but at a slower pace.

 

Mr Kittiratt said the currency strengthening was caused by short-term flows into the country and speculators trading on the baht.

 

Mr Kittiratt said investments in infrastructure projects and imports of machinery would over the long run stabilise the baht.

 

He said the increase in inflows was the result of high market confidence in the government's economic policies, combined with the effect of quantitative easing by other countries

 

Meanwhile, former finance minister Thirachai Phuvanatnaranubala said the currency problem will only worsen later this year. He said inflows caused by US and Japan monetary policy would pose challenges for Thailand.

 

Mr Thirachai said if the government cuts interest rates to curb the baht's appreciation then it would lead to more loans being taken out. He warned that the government's populist policies, such as the first-car and first-house schemes, could be "excessive" if the economy is not in the doldrums and could lead to households struggling with debt.

 

Another former finance minister, MR Pridiyathorn Devakula, voiced concerns about spiralling public debt.

 

He said public debt is estimated to increase by 7.97 trillion baht between October 2012-September 2019 to 10.3 trillion baht, or 63.7% of GDP. He blamed the government's first-car scheme and the rice pledging scheme, as well as other massive loans it has taken out, including 350 billion baht for water management.

 

Public debt was at 43.9% of GDP at the end of last September. "If the government continues with this populism, public debt might increase to 70% of GDP. [in this situation] we will not die but surely we will be weak," MR Pridiyathorn said. "No one in this government is concerned with fiscal discipline. They just want to pursue populist policies without being respectful to taxpayers." Addressing the same forum, Mr Kittiratt said the currency should not be allowed to become so strong as to threaten exports and tourism.

 

http://www.bangkokpost.com/news/local/332304/flying-baht-prompts-top-brass-meet

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I feel that a lot of the "Cost of Living" was due to the financial crash in 97/98 back then USD would get you 60 Baht and 1 Pound sterling over 95 baht.

 

Yes those were good days but like anything it all comes to an end. I have always based my finances on 25 to the USD and 40 on the GBP, call me a pessimist but I don't to run short of funds.

 

Prices have not risen more than index linked inflation but it is the strength of the THB compared to other currencies that make the costs appear much steeper. I was paying 270 THB for a Pint of Guiness in 1988 that was 3 Quid, I still pay the same 270 THB / Pint but now ir is nearly 5.50 Quid

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cars and homes are cheaper than they used to be because many more people have access to credit nowadays. People wjose parents 20 years ago would have had to rely on a loan shark (20% per month) can now get a bank loan (less than 10% per year).

 

I know many places pay a base salary of less than 10000. But people do a lot of OT and most end up with 10000.

 

Seagate assembly line 8 years ago paid 9000-10000 (that included a lot of OT)

sales girl at clothing shop in Emporium 8 years ago 9000-10000

 

security guard at condo now 6000-7000 up (8 years ago 4500)

security guard NASA Vegas more than 10000

receptionist at cheap hotel near SC 10000

Sales at SB furniture: 10000

Mazda call center (Thai) 8000

Pizza delivery call center 15000

nurse 12000 - 30000 (may include a lot of OT)

clerical staff at language school 13000

 

government teachers are about the lowest paid position (with a fixed salary), they usually try to find a farang bf

police have a very low salary, too - they usually find ways to improve their income

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Some years back, I worked with a guy in Brissie who told me he had spent a couple of years managing a bookstore in LA. He claimed that the people who worked for him (mostly guys) couldnt possibly have made ends meet on the money to store paid them - the only explanation was that they were either working a second job or doing petty crime. When I look at the monthly incomes quoted above, even allowing for the Thai people's legendary frugality, its difficult to imagine them getting by in an increasingly expensive city on that kind of money. Contrary to popular belief on this board, I have actually ventured beyond the Family Mart for food, dragged my butt to the Big C supermarket, carted home the raw ingredients and cooked my own food : to have any sort of 'quality' life in Bangkok I would need at least 300 baht a day. That's essentials after rent, and doesnt take into account visa runs or anything specific to Farang. I've done days on a hundred baht total, and it's just pathetically boring - the end result is inevitably a splurge at the end of the week.

 

Here in Oz, we like to talk about the 'working poor'. People who are trapped in cities where their income just doesnt line up with the cost of living, especially rents. If Thailand's strength lies in it's cheap workforce, that has to be a workforce that can see the point in turning up each day .... I guess Thai employers have something Australian employers dont : the threat of starvation if you elect not to work.

 

(yes, I know this is OT, but just following the current course of the thread)

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Hi,

 

"When I look at the monthly incomes quoted above, even allowing for the Thai people's legendary frugality, its difficult to imagine them getting by in an increasingly expensive city on that kind of money."

 

My nephew lives close by with his gf and they both make ~8K/month. So, a combined income of 16K. They pay a little less than 3K in rent, no aircon so elec is cheap, water is as well. No cable TV or Internet costs of course. They also live close enough to work so they can walk there cutting out transportation costs. They mostly live on cheap food (home made or bought), probably not spending more than 150 Baht/day for the both of them.

 

So, after adding up all those costs, they still have roughly half their money left, and both send a couple K home each month.

 

When they still had a lot of OT (cut due to rising wages), they were making over 20K combined, but of course were also working 70hr weeks.

 

Gobbledonk, I think the difference is that they don't have a quality life, they are surviving, not much more than that.

 

Sanuk!

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Hi,

 

Lowest amount I survived (wouldn't call it 'lived' :) ) on was 15K/month, but this was 16 years ago and it was NOT fun. After paying for fixed costs, I had about 250-300 Baht/day to live on. I ate pretty much exclusively Thai - and some cheap sandwiches - either walked or rode the bus, no going out at all of course. Too be honest, it was pretty shitty :) and I buggered off back home after only a few months.

 

When I came back again a year later I lived on about 30K/month and that was quite doable back then. Would not be able to do it now though, not even if I was alone.

 

Sanuk!

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My living allowance as a PC vol was 1,800 baht a month. Quite nice nearly 40 years ago, inflation is unbelievable. A new Thai archan started 1,300 a month. But meals were 3-5 baht and you could rent a frame house upcountry for 200 a month! BGs 100 baht aw nigh.

 

My first govmt contract was 8500/month in 1978. I thought I was rich. 8500 then was about like 40,000 nowadays, much better than the current university foreign lecturer's base pay of 25,500. :p

 

 

post-98-0-94005500-1359171748_thumb.jpg

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