UA-610852-2 Issue 142|Retire to Pattaya Thailand UA-610852-2

Retire to Pattaya Thailand!

 

Issue 142

Happy New Year in Pattaya!?!

A new year is almost upon us and BIG changes are almost certainly on the horizon for Pattaya in 2008.

With that said, here's a few things for you look to for:

1) Increasing Russian tourists and oriented businesses to serve them.

Clearly this is a major trend as A LOT Russians are visiting Pattaya now, especially during high season. Interestingly, unlike typical Western tourists, they appear younger, bring their boy/girlfriends, and frequent the bars less.

Look for more Russian restaurants and nightclubs to be opening soon--It will be similar to 'Japanese-only' subculture that exists in Bangkok as most speak little English.

From last year: http://retiretopattayathailand.com/Issue-117.html

2) Volatility in the Baht exchange rate

Predicting the next major move for the Baht is foolish.

The recent elections have continued the existing turmoil and will not end anytime soon. As more foreign investment pours into neighboring countries, especially Vietnam, for manufacturing AND tourism, exchange rates will be all over.

I recommend keeping a close eye on the currencies, and if the Baht breaks 35/$1 I would LOAD up on it by using a Thai bank account.

3) New luxury hotels but for whom?

Evidently their are multiple 'five star' hotels being planned or under construction including Le Meridian, Holiday Inn, so on but who will be their guests?

How many Pattaya tourists are pay 4-5000B per night? And of those, how many of those stay more than one or two nights?

My guess, not many.

The 'backbone' of the Pattaya economy is the middle income, frequent visitor and long-time staying Western farang.

If you want a business in Pattaya, this is your target market NOT the 'affluent, high end traveler'.

CONCLUSION

Not just Pattaya but all Thailand will see MAJOR changes this year--position your assets accordingly with an eye to diversification.

http://retiretopattayathailand.com/Issue-126.html