PATTAYA, Thailand – The strength of the Thai baht has a significant impact on the spending power of tourists in Pattaya, particularly in terms of how favorable the exchange rate is for visitors exchanging foreign currency.
As of February 21, the baht closed at 33.60 THB per US dollar, slightly stronger than the previous day’s closing rate of 33.66 THB. While the baht has gained strength, the scope for further appreciation has started to limit, with fluctuations in global gold prices and the recent weakening of the Japanese yen also influencing the baht’s performance.
For tourists in Pattaya, a stronger baht means they will receive fewer Thai baht for their foreign currency, which can reduce their overall spending power. As Pattaya is a popular destination for international tourists, this can have a notable effect on their spending behavior, especially for those coming from countries with weaker currencies relative to the baht.
Additionally, foreign investors have been selling Thai assets, with net sales of Thai stocks and bonds amounting to 689.45 million THB and 3.3 billion THB, respectively, contributing to some weakening of the baht later in the day.
The outlook for the baht in the upcoming week (February 24-28) is expected to fluctuate within a range of 33.20 to 34.00 THB per US dollar, with key factors to watch being the Bank of Thailand’s meeting (February 26), export figures for January, and any updates on U.S. trade policies that could affect global currencies.
For tourists, a stronger baht might result in slightly higher costs for accommodation, dining, and entertainment, making it essential for them to adjust their budgets accordingly to maintain their desired travel experience.
