absolutelyBangkok archive · Business & Economics
Originally published Nov. 30, 2008
Soon it’s all over, be it with a whimper or bloody beats of drums. Doesn’t really matter. The Tourism Authority has anyway quite a task ahead. The good news? Without great bargains the crisis will linger on even longer. The PAD turn out to be next year’s tourists’ biggest friend. Finally you’ll have again beaches again for yourself with prices, just splendid.
Weren’t we all complaining about Thai tourism’s yearly price inflation without really adding value? In 2009, expect some prices in the tourism industry you haven’t seen for some years. The Asian financial crisis, bird flu, Sars, the tsunami and coup, they all were a lesson for Thailand’s tourism industry. But nothing comes close to the PAD factor.
Hidden behind is a truly sad story. Thailand once was somebody. A proud tiger economy, a model for problematic states and regimes around the region. Today Thailand teeters on the brink of a failed state, with — sad to say — one of Thailand’s greatest assets in the eyes of the world, her women, becoming even cheaper, as dictated by falling incomes and increased misery and competition.
For generations Thailand was not only a proud tiger economy and aspiring democracy of the region, Thailand was a promised land amidst refugee crises and political turmoils. The boom had begun with the arrival of the Vietnam-fighting Americans and their dollars flowing into the country. Thailand sold her riches and exported her best and grew stronger.
Over time Thailand even brought to perfection the dubious art of profiteering from the crises of others. A ruined Cambodia of the Khmer Rouge and impoverished Burma of the generals only strengthened the kingdom.
Later on, during the various political troubles in the Philippines and Indonesia’s final struggle with Suharto, Thailand even managed to steal tourists who were looking for paradise nature and stability.
Since some time though Thailand doesn’t manage to profit any longer from the crises of others. Thailand is herself at the very center of own crises — with the current mother of all crises originating in the rise of populist and demagogue Thaksin Shinawatra in 2001.
The rest you all now. Now the kingdom’s at the bottom of the ladder. Proud Thailand is reduced to a farce, turning into a caricature of a nation overtaken by even Cambodia in terms of economical outlook and stability.
Won’t be an as easy climb back up again.
Blame… blame whom?
The blame game and conflict will go on and on as long as both the PAD and Thaksin stalwarts are allowed to continue in one form or another.
Meanwhile, get ready for some great bargains. Thailand’s on sale.
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