News Forum - How are expats coping with Thailand’s rising cost of living? – VIDEO

[Thaiger]

Sunday Thailand news update. Tim goes through the main headlines of the day then takes your questions and comments in our new weekend Thaiger Weekend Update. The main topic is the rising cost of living in Thailand and if it’s going to push out more expats who are on fixed incomes. But where will they go? An hour of the latest news headlines and discussion with our online audience with their ideas on the current costs of living in Thailand versus the rest of the world and how expats, some on fixed incomes, are coping with the rising costs and […]

The story How are expats coping with Thailand’s rising cost of living? – VIDEO as seen on Thaiger News.

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[Ramanathan.P]

Now that puts a big question mark on "Retiring in Thailand"

[Vigo]

Yes, there is inflation and prices have increased for almost everything. However, it is same in Australia, USA, Europe. So if you leave Thailand because of  cost of living increase, it will be just as bad as at home, I think.

Edited May 2, 2022 by Vigo

[ExpatPattaya]

Am retired here for 4 years but am not going to watch Tim ramble through 72 minutes on the subject in the Thaiger youtube video linked to this

Food and fruit I buy is same price. health insurance same price, electric has gone up about 20%.  Ladies and beer prices same.  Bus to Bangkok same.  Am not sure what cost of living has gone up?

I do not drive any ICE you fill with petrol so that will never effect me.  

[Soidog]

4 minutes ago, Vigo said:

Western government supported pensions are cost of living indexed, so they will  increase.

Sadly not the case for U.K government pensions unless you have an address in the U.K. I know of a few people who retired out here at 65 on a full U.K. pension. 15 years on, the real value of their pension has fallen by 30%. The Pound has fallen in value by some 40% and they are struggling. No one from the U.K. should consider retiring permanently to Thailand if they rely on a state pension alone. What seems possible today, will be a nightmare in 10 years time.   

[HiuMak]

Time to go off grid.

1. Invest in solar power

2. dig your own well

3. Grow your own vegetables, fruits and animals

 

[HolyCowCm]

Not even going to watch that video after I saw how long it was. Clicked in and clicked out. 

For those who have already commited to passing away here or just to going the long stretch and dependent on monthly fixed incomes having to show to the immgration for renewal, the exchange rates are probably their only biggest worry. Don't live beyond your means and do the necessary cut backs if one has to. Things have gone up and are going rise more, so if this happnes then I think most will cut costs somewhere to make up for the other higher costs. I think the most important thing is be ready to adapt and suck it in and most will be ok. Waht are the chocies? Move out of Thailand? The grass is not greener on the other side of the fence in my eyes.

 

 

[BangkokBruce]

If you can't afford to live in Thailand I don't know what to say. I've been living here for a year and I average about 80,000 to 100,000 baht per month. I don't spend a dollar on it on bar girls either. There aren't that many places in the world where you can live in an established City like Bangkok and have a higher quality lifestyle where you can get steak for 600 baht a plate. 

[Soidog]

11 minutes ago, BangkokBruce said:

If you can't afford to live in Thailand I don't know what to say. I've been living here for a year and I average about 80,000 to 100,000 baht per month. I don't spend a dollar on it on bar girls either. There aren't that many places in the world where you can live in an established City like Bangkok and have a higher quality lifestyle where you can get steak for 600 baht a plate. 

I don’t think anyone would have a problem living off 80,000 to 100,000 baht a month almost anywhere in the world. For many expats, they try to live off 25,000-50,000 a month. Perhaps you can see how tricky that may be for some. 

[HolyCowCm]

44 minutes ago, Soidog said:

I don’t think anyone would have a problem living off 80,000 to 100,000 baht a month almost anywhere in the world. For many expats, they try to live off 25,000-50,000 a month. Perhaps you can see how tricky that may be for some. 

When I saw the 80-100k per month then all I could think is this person is living a really good life with never going to have any worries. Yes you are probably correct on the 25k low level. And this is totally possible to do as if you don't have much to cover. Just my electricity bill and the many car insurances ( about 5k per month to cover all yearly) I pay will minus 10k on that.

[Paris]

Are you sure? Is the monthly cost of living €2.700/month in Bangkok -Phuket?Although I have already lived in Bangkok for 2 years and I departed in 2017 . I have been working for 2years  and I paid electricity €80/month (Patong was cheaper) and for renting in Bangkok €300/month in condomnium with security .Kulala Lumpur will be the next destination for tourists!

Edited May 2, 2022 by Paris

[Noble_Design]

4 hours ago, HiuMak said:

Time to go off grid.

1. Invest in solar power

2. dig your own well

3. Grow your own vegetables, fruits and animals

#3 would be possible if you're still able bodied. Unfortunately a lot of the foreigners who choose to retire here don't seem physically able to do that sort of thing here. They look more like they should be in an assisted living facility.

[Poolie]

16 minutes ago, Noble_Design said:

They look more like they should be in an assisted living facility.

Designed for the curmudgeonly!

With a diet of pure spite and venom. And plenty of it!

[CameronB]

I think the rising cost is part of living anywhere in the world.  However, while I agree with having Health Insurance  the new Health Insurance requirement of 3 Million THB starting in October is unreal and should be reconsidered after all they have done the same with the Tourist Health Insurance requirement.  I think it will deter people coming to retire in Thailand. 

[Pinetree]

5 hours ago, Soidog said:

No one from the U.K. should consider retiring permanently to Thailand if they rely on a state pension alone.

I pity anyone who tries to live on a UK Pension alone.  The fact that such people also have to rely on added State benefits means that their options are severely limited and to UK alone. 

[Soidog]

53 minutes ago, Pinetree said:

I pity anyone who tries to live on a UK Pension alone.  The fact that such people also have to rely on added State benefits means that their options are severely limited and to UK alone. 

I totally agree, but there are many that do. You also get guys who have a state pension and sold assets such as their house and moved out to Thailand with £250,000+. 10 years on they have none of that money and need to survive on the state pension. Not easy at all. 

[Vigo]

9 hours ago, Soidog said:

Sadly not the case for U.K government pensions unless you have an address in the U.K. I know of a few people who retired out here at 65 on a full U.K. pension. 15 years on, the real value of their pension has fallen by 30%. The Pound has fallen in value by some 40% and they are struggling. No one from the U.K. should consider retiring permanently to Thailand if they rely on a state pension alone. What seems possible today, will be a nightmare in 10 years time.   

I recognized my mistake, and edited it out, but not before you saw it. I give myself a point for correcting myself.  :) 

Edited May 2, 2022 by Vigo

[TheDirtyDurian]

8 hours ago, BangkokBruce said:

If you can't afford to live in Thailand I don't know what to say. I've been living here for a year and I average about 80,000 to 100,000 baht per month. I don't spend a dollar on it on bar girls either. There aren't that many places in the world where you can live in an established City like Bangkok and have a higher quality lifestyle where you can get steak for 600 baht a plate. 

South Africa. Capetown. 

[Soidog]

5 hours ago, CameronB said:

I think it will deter people coming to retire in Thailand. 

I think that’s the plan. They don’t want people coming to retire in Thailand. They don’t see it as providing any significant benefit to the country. If they did, they would be relaxing requirements, not making it harder. They don’t even want people coming and staying long term. Why else would they make the 12 month 90 day multiple entry non-O visa option more difficult to get compared to before 2012 . 

[Soidog]

8 hours ago, BangkokBruce said:

where you can get steak for 600 baht a plate. 

Depends what type of steak it is. If it’s the cheap crap they hand out in many restaurants, I could probably get such quality cheaper in London. 

[BuckyBlade]

6 hours ago, CameronB said:

I think the rising cost is part of living anywhere in the world.  However, while I agree with having Health Insurance  the new Health Insurance requirement of 3 Million THB starting in October is unreal and should be reconsidered after all they have done the same with the Tourist Health Insurance requirement.  I think it will deter people coming to retire in Thailand. 

Do you have to have 3 million baht cover or 3 million baht in october

[Soidog]

10 minutes ago, BuckyBlade said:

Do you have to have 3 million baht cover or 3 million baht in october

It depends which visa you extend on the basis of retirement. A Non-O doesn’t require this insurance. An Non-OA does. This could of course all change in a heartbeat should the Thai government wish to do so. Moral of that is, make sure you always have a way back home. You never know when you may need it. 

[drkenchao]

i guess the increase of premium for OA retire visa is a real cause of concern compared to living cost, one can adjust to rising living cost by cutting down say eating in shopping mall expensive restaurant (go to street food or home cooking) but OA visa can not escape the mandatory health insurance for annual visa renewal. Coverage required is now raised to 3 million baht, only about 2 years since first implemented in 2019, what happens after another three years: or ten years,and how high it will go as one's health get worsen and age very much older? it is very hard to do planning if one wish to do long stay, or maybe necessary to leave at senior age

[HiuMak]

15 hours ago, Noble_Design said:

#3 would be possible if you're still able bodied. Unfortunately a lot of the foreigners who choose to retire here don't seem physically able to do that sort of thing here. They look more like they should be in an assisted living facility.

Hire labour to do this work. They are cheap as chips.

[Marc26]

17 hours ago, BangkokBruce said:

If you can't afford to live in Thailand I don't know what to say. I've been living here for a year and I average about 80,000 to 100,000 baht per month. I don't spend a dollar on it on bar girls either. There aren't that many places in the world where you can live in an established City like Bangkok and have a higher quality lifestyle where you can get steak for 600 baht a plate. 

I live in Vancouver Canada on 100k or less/mo

 

And I guarantee you I get a way better steak for 600baht

 

I think you don't really know how much things cost around the world

 

 

There is no good steaks in Thailand besides a few proper steakhouses and they are 3-4k baht