By Reid Coen of Imprint Tours
In a famous anecdote from the 1992 presidential election, then candidate Bill Clinton adopted a simple statement to guide his efforts: “It’s the economy stupid.” That statement helped focus the campaign on the primary issue of the day. When it comes to considering a trip to Thailand there is an equally paramount issue: “It’s the price stupid”. Thailand is one of the globe’s best travel values. The three big-ticket items in any travel budget - transportation, accommodations, and food - are very inexpensive. The cost of a 45-minute taxi ride from the international airport to central Bangkok is a mere $12. Clean, well located, comfortable, air-conditioned accommodations are readily available for under $40 (half that if you forego the air-conditioning). An excellent restaurant dinner with drinks can easily be had for $10 and street vendors can provide a delicious meal for less than $1. Even international airfares, previously a significant deterrent, are now comparable to European airfares (from the west coast). Moreover, budget airlines are proliferating in Southeast Asia making internal flights very affordable.
Beyond the necessities of travel, the low prices in Thailand make it a shopping paradise. Tremendous bargains are available for every budget. Travelers find the usual selection of tourist merchandise: T-shirts, hats, prints, jewelry, clothes, and a staggering array of handicrafts. Handicrafts range from embroidered clothing and bags to paper umbrellas and fans, lacquerware, rugs, silver, woodcarving, local textiles, batik, and carved soap. Some of the most popular items are the “knock-off” fashions and goods available in the larger cities. Serious shoppers might consider Thai antiques, tailor-made clothes, rattan furniture, or celadon pottery. Additionally, Thailand is one of the world’s leading exporters of gems and ornaments and Thai silk is considered the best in the world.
Travelers today face an economic environment of skyrocketing fuel prices, rising food costs, and plummeting dollar values. We need to be very careful about where and how we allocate our resources. Up until now, American international travel has been dominated by Europe. But forty years ago European travel was exotic, inexpensive (once you arrived), and the province of either the wealthy or backpackers. In the interim, rising American affluence has made European travel a middle class endeavor that is nearly viewed as an entitlement. However, in the last five years European inflation combined with falling dollar values has made Europe a very expensive destination. Thailand and Southeast Asia offer a wonderfully affordable alternative.
In the last year, most major travel publications have featured articles about how to travel more frugally in light of falling dollar values and an increasingly challenging economic environment. All have suggested selecting better value destinations and Southeast Asia is at or near the top of those lists. On Dec. 9, 2007 The Seattle Times’ Carol Pucci featured Southeast Asia in her “Travelwise” column. The title was, “S.E. Asia Makes lots of Cents for U.S. Travelers.” Of Bangkok, she wrote, “The dollar, although worth less than a year ago, still packs more buying power here than in Europe.” On July 21, 2008 Eliza Bates of the Associated Press wrote an article titled, “Budget Bangkok: 15-cent trains, $1 Meals.” The article began with, “Thailand’s tropical capital is teeming with budget options for the penny-pinching traveler.” Both articles continue with multiple examples of Thai bargains.
The relative value of the Thai currency is another reason why Thailand is such a good value for American travelers. The exchange on the Thai Baht has remained much more consistent than the Euro. From April 2007 to April 2008 the dollar plummeted by more than 17% against the Euro. During that same period, the dollar lost less than 3% of its value against the Baht.
Thailand is a beautiful, fascinating, and accessible destination. It boasts fantastic architecture, World Heritage sites, incredible and varied natural beauty, a rich artistic heritage, a friendly Buddhist culture, and a well-established tourism infrastructure. It also just happens to be one of the globe’s greatest travel bargains. For real estate the accepted dictum is: “Location, Location, Location.” For Thailand travel that mantra is: “Value, Value, Value.”
