The Breadcrumbs widget will appear here on the published site.
0 Comments
The Breadcrumbs widget will appear here on the published site.
The Breadcrumbs widget will appear here on the published site.
In this YouTube stream, we’ll explore the contrasts between Thailand and Cambodia, two neighboring countries with rich histories and vibrant cultures. We’ll dive into their differences in cost of living, expat lifestyles, infrastructure, and overall experiences for travelers and long-term residents. Whether you’re considering visiting or settling down in Southeast Asia, this stream will provide valuable insights to help you decide which country might suit your needs better.
The Breadcrumbs widget will appear here on the published site.
In today's stream, we're diving into a hot topic: "Thailand Only Wants Your Money." We'll explore the common perceptions and experiences that lead some to believe that financial gain is a primary motivator in interactions with foreigners. From the tourist traps and dual pricing systems to expat challenges and the economic reliance on tourism, we'll uncover the complexities behind this sentiment. Join us as we delve into real stories, expert opinions, and cultural insights to understand the truth behind this provocative statement. Don't miss out on this eye-opening discussion!
The Breadcrumbs widget will appear here on the published site.
There's a common misconception among some short-term expats in Thailand that their expenses accurately represent those of all expats. This notion is flawed. The reality is that various factors need consideration beyond the basic costs of living. Expenses such as dental, vision and medical care, visa fees, internet access, grocery and clothes shopping all contribute significantly to the overall cost of living. It's essential to take these factors into account for a more accurate understanding of the expenses associated with expat life in Thailand. The Breadcrumbs widget will appear here on the published site.
It has been almost two months since the May 14 general election in Thailand, where voters elected the relatively new and pro-democratic Move Forward Party as the winner. However, the country's persistent problem of excessive household debt continues to worsen, posing challenges for the central bank as it awaits the formation of a new government.
On July 3, the Bank of Thailand reported that Thailand's household debt had reached 16 trillion baht ($455 billion) in the first quarter of 2023, accounting for 90.6% of the country's gross domestic product. This represents a further deterioration compared to the 87% recorded in the fourth quarter of 2022. The central bank's redefinition of household debt also contributed to the increase in this figure. This data comes at a time of political uncertainty in the country. As early as July 13, parliament is set to elect the next prime minister through a joint vote of 250 senators and the 500 newly elected members of the House of Representatives. However, with Move Forward's eight-party coalition controlling just over 310 seats in the House, there is no guarantee that their leader, Pita Limjaroenrat, will secure the 376 votes needed to become prime minister. If the prime ministerial vote becomes contentious and doubts persist about the formation of a new government beyond the end of the fiscal year in late September, the caretaker government led by Prayuth Chan-ocha may continue with limited ability to take significant fiscal steps. Additionally, if someone other than Pita becomes the prime minister, protests may ensue, further complicating the government's management of the situation. This uncertainty has left Thailand's financial industry and market watchers anticipating a policy paralysis. The Breadcrumbs widget will appear here on the published site.
According to HSBC, a significant number of potential expats are concerned about finding suitable financial services to cater to their needs, with 62% of them indicating this as a worry. Among digital nomads who take advantage of remote working rules, this percentage increases to 67%. HSBC surveyed over 7,000 adults across nine international locations, including expat families, digital nomads, and overseas students.
The study revealed that over half (51%) of respondents planning to relocate said they did not feel financially prepared, and no one had helped them in this regard. The top reasons for relocating to work or study abroad among international citizens were a better lifestyle, improved work-life balance, higher earnings, and travel opportunities. The study also investigated international investors' personal finance and investment decision-making processes as they move overseas. The US is the leading destination for international investors, with 27% investing there, followed by the UK with 20%. The survey found that 67% of international investors plan on investing in their new location, and 68% of them would do more overseas investing if they had better access to guidance. Additionally, 36% of international investors own a property overseas. HSBC's interim US head of wealth and personal banking, Mark Pittsey, highlighted the importance of using their platforms and systems to make banking across borders a smoother process, supporting clients at multiple points throughout their wealth journey. |
LATEST POSTS
The Lastest Posts widget will appear here on the published site.
MOST POPULAR POSTS
The Most Popular Posts widget will appear here on the published site.