Thai baht loses some value against the USD

You can get more baht for your buck these days. Thai baht to USD is trading over 33 to a dollars. Last month it was slightly over 32 THB to USD. There are obvious reasons for this. The first one being the economic hit from the pandemic. Thailand is heavily dependent on tourism. In 2019, it is estimated to have had over 40 million tourist arrivals. A big chunk of Thai economy depends on the tourist dollar.

Phuket, Koh Samui, Bangkok and Chiang Mai among other destinations have contributed hugely over the years. Every other Thai is directly or indirectly impacted by tourism. It allowed the country (in the past) to have a bright economic outlook. What was a boon for a long time seems to have turned into a struggle. The over dependence on tourism has led to economic hardships in these tourist hubs. Pattaya is deserted, massage shops are closed. Bars are closed. There are restrictions on inter-provincial travel. The country is partially open due to the pandemic. With rising number of cases everyday, it looks like the new reality is here to stay for a while.

You don’t need to be an economist to figure it out. The pressure on the Thai baht will increase in the short term. Recovery will take long. Nobody can say when things will get back to “over 10 million tourists” per year, let alone pre-2019 levels. There are reports of people being given food assistance by foreigners. While there will always be demand for Thai “services” targeting the tourist, right now there aren’t many arrivals. It is almost certain that 2021 could see the lowest number of tourist arrivals in Thailand.

How can you come to Thailand now?

Amazing Thailand happy quarantine. Vaccinated travelers are able to come to Thailand through Phuket sandbox and Koh Samui plus. I do not want to give details of these programs as there are always updates. so click on the link above to go to Tourism authority of Thailand to read more about these exciting prospects. You can do better quarantine in Thailand is what seems to be the sales pitch.

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