Thailand S Surging Baht Is Making Life Expensive For Expats Seeking An Affordable Retirement



(SCMP) – Brian Maxey moved to Thailand from the United Kingdom expecting his sterling pension to afford him an easy retirement. Instead, he is finding it harder to meet his visa’s financial stipulations because of the strong baht.
The former aircraft technician easily bought a town house, pickup truck and motorcycle when he arrived at the age of 55 two decades ago. Back then the pound bought about 60 baht, but now it fetches a little less than 38 baht.
“It was a cheap place to live then,” Maxey said in the coastal city of Pattaya, which is popular with European retirees. “It’s not any more.”
The pressure on foreign pensioners is just one example of how the baht’s sharp appreciation is rippling through Thailand. The currency is the world’s top-performer against the dollar over five years, hurting export competitiveness and putting the economy on course for the weakest growth since 2014.
The Thai government issued almost 80,000 retirement visas last year, a climb of 30 per cent from 2014. To qualify, foreigners must show a deposit of 800,000 baht (US$26,176) in a Thai bank or have a monthly income of 65,000 baht. Another route is to have income and deposits totalling 800,000 baht combined.
Britons accounted for the largest number of retirement visas in 2018, Immigration Bureau data shows. They were followed by Americans, Germans, Chinese and Swiss pensioners seeking affordable, sun-dappled golden years.
Once best known for crashing and sparking the 1997 Asian financial crisis, the baht is today seen as a haven by global investors. A trade surplus and annual foreign tourism receipts exceeding US$60 billion underpin its resilience.
The currency has appreciated more than 6 per cent against the dollar so far in 2019, the best performer in a basket of Asian economies tracked by Bloomberg.
It is likely to stay resilient, said Masakatsu Fukaya, an emerging-market currency trader at Mizuho Bank Ltd in Tokyo. There could be more upwards pressure if firms relocate production to Thailand to skirt US tariffs on China-made products, according to Fukaya.
Some pensioners are already voting with their feet, according to Niels Colov, who moved from Denmark about 40 years ago and helps to organise a club for expats in Pattaya.
“There’s an exodus of foreigners from this area to Vietnam, Cambodia and the Philippines,” he said. “We’re talking thousands of people.”
Some of those remaining may have to cut back spending, said Christian Foerster, an Austrian who retired to Thailand 20 years ago.
“There’s an enormous change,” he said. “Everything is more expensive. But it’s about adjusting, adapting and living modestly.”
At the same time, the cost of living in Thailand remains lower than in developed nations such as the US or in Europe, and officials continue to promote it as a retirement destination.
The strength of the baht leaves Pattaya retiree Maxey’s 1,000 pound (US$1,229) pension far short of the minimum monthly requirement. As a result, he maintains the equivalent of a 22,000 pound deposit to satisfy the bank savings rule when renewing his visa.
“That’s a lot of money to hold in a bank account that you can’t touch,” Maxey said, while adding he wants to stay on in Thailand despite the difficulties as he is settled in the country.
The Baht Is ‘Frightening’ Thailand’s Tourism Industry
Thailand Facing Challenges of Managing the Soaring Thai Baht
 


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

https://www.malaysia-today.net/2019/10/04/thailands-surging-baht-is-making-life-expensive-for-expats-seeking-an-affordable-retirement/

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Umno Veep Ticks Off Harapan For Continued Delay In Rts Project

Umno Veep Ticks Off Harapan For Continued Delay In Rts Project

papar berkaitan - pada 29/9/2019 - jumlah : 220 hits
Umno vice president Mohamed Khaled Nordin has criticised the Pakatan Harapan government for the continued delay in the Rapid Transit System project a rail system linking Johor and Singapore to ease congestion This comes after Malaysia reque...
Ministry Harapan Gov T Giving 200 000 Citizenship For Votes Is Fake News

Ministry Harapan Gov T Giving 200 000 Citizenship For Votes Is Fake News

papar berkaitan - pada 29/9/2019 - jumlah : 257 hits
The Home Ministry has refuted social media claims that the Pakatan Harapan government has given out citizenship to some 200 000 in exchange for votes The ministry in a statement said the allegations posted on Twitter by one TengkuRajaAlamSh...
I Was Fired For Being Pregnant And Being Honest About It

I Was Fired For Being Pregnant And Being Honest About It

papar berkaitan - pada 29/9/2019 - jumlah : 174 hits
The recent news about anti discrimination laws brought to my mind an experience of pregnancy discrimination that I faced two years ago I was being interviewed for a lab assistant s position at an international school During the interview th...
Petrol Routine For Almera

Petrol Routine For Almera

papar berkaitan - pada 29/9/2019 - jumlah : 171 hits
Petrol Routine for Almera Last isi 7 September Isi semula on 22 September Petronas Nusa Perintis Hasil RM67 79 for 382 7 km melibatkan 32 59 l minyak terbaeekkk kipidap mknaceunlimited mknace blogger photography photoblog SJCAM SJ4000 J3 Sa...
Rent Arrears For Dbkl Flats Now Amounting To Rm58m Ft Minister

Rent Arrears For Dbkl Flats Now Amounting To Rm58m Ft Minister

papar berkaitan - pada 30/9/2019 - jumlah : 296 hits
The amount of rent arrears of DBKL owned People s Housing Project and Public Housing flats in the city now amounting to RM58 million according to Federal Territories Minister Khalid Abdul Samad He said the arrears identified by the DBKL dat...
Team Up For States Rights Anifah Urges Sabah Sarawak

Team Up For States Rights Anifah Urges Sabah Sarawak

papar berkaitan - pada 30/9/2019 - jumlah : 281 hits
Anifah Aman former foreign minister KOTA KINABALU Sabah and Sarawak could have a better chance of restoring their state rights and gaining what is owed to them if they work as a unit said former foreign minister Anifah Aman Anifah noted tha...
Fund Raising For Malayan Tiger Putrajaya Marriot Hotel Charity Event

Fund Raising For Malayan Tiger Putrajaya Marriot Hotel Charity Event

papar berkaitan - pada 30/9/2019 - jumlah : 424 hits
Hi Everyone In conjunction of Merdeka Celebration and Malaysia Day 2019 Putrajaya Marriott Hotel Palm Garden Hotel and Palm Garden Golf Club dedicate the whole month of August to September 2019 to Zoo Negara A fundraising event created wher...
Why Should We Stand For Negaraku Ask Sarawak Activists

Why Should We Stand For Negaraku Ask Sarawak Activists

papar berkaitan - pada 30/9/2019 - jumlah : 284 hits
Negaraku was Malaya s anthem and not the anthem of the federation Vocal pressure group Sarawak for Sarawakians today explained a video clip of its members refusing to stand for the national anthem at a fundraising event last week saying it ...
The Malay States Have Been China S Neighbour For 2 000 Years Says Dr Mahathir

The Malay States Have Been China S Neighbour For 2 000 Years Says Dr Mahathir

papar berkaitan - pada 30/9/2019 - jumlah : 354 hits
Malaysia does not want to take a confrontational stance towards China over the disputed South China Sea and Beijing s alleged mistreatment of its minority Uighur Muslims Prime Minister Tun Dr Mahathir Mohamad said in an interview published ...
Oriental Kopi Klcc Port Minum Kopi Terbaru

Pasar Raya Flagship Jaya Grocer Di Sunway Pyramid Tarik Pengunjung Dengan Penampilan Serba Baharu

U Mobile The New Ali Baba Contractor For The Second 5g Network Tender

The Celebrity Legs And Feet In Tights 2024 Pantyhose Queen Poll Full Contender List

Panas Artis Wanita Malaysia Ditahan Polis Thailand Turut Ditemukan 6 000 Biji Pil Kuda

Iphones Dalam Bahaya Amaran Baru Peretasan Sasarkan Peranti Apple

Explore The Hottest Tangkasnet Gaming Trends And Top Picks For 2024

Jangkitan Kulit Utama Oleh Mycobacteria Bukan Tuberkulosis Laporan 6 Kes


echo '';
Info Dan Sinopsis Drama Berepisod Senyawa iQIYI Malaysia

Info Dan Sinopsis Drama Berepisod Project Projek Exit Astro Originals

Pelajari Asal Usul Nama Makhluk Seram Kisah Fiksyen Barat Yang Terkenal

10 Fakta Filem Kahar Kapla High Council Yang Ramai Tak Tahu Prekuel Drama Project Projek High Council

Anugerah Seri Angkasa 2024 Senarai Keputusan Pemenang Calon Top 5 Kategori Hadiah Persembahan Penyampai Trofi Dan Segala Info ASA 36


Creating Timeless Portraits Techniques Used By Professional Photographers In Dubai

Pengawal Keselamatan Rebah Tunggang Motosikal Akibat Terlalu Penat Bekerja

Artis Kelantan Ditahan Sungai Golok Didakwa Miliki Dadah

Immigration Officers Involved In Counter Setting Case Transferred Says Dg

Kerajaan Perkenal Undang Undang Lebih Tegas Tangani Buli Siber Kata Anwar

Malaysiaweeklyrecap 30 September