Why are so many hotels for sale?

[bluelagoon]

An artificially inflated Thai Bhat could also be to blame but apparently the Central Bank of Thailand seems to cater other interests. A proper rate for the THB could be 1 US$ = say 38 THB. Prices have also dropped in Europe but the prices in Thailand are catching up with the west. People now want and can get, quality for a lower price and many november/december/januarytouristic spots in the Carribean Islands or in other Asian countries offer that. A plain example would be what the tailors were charging for a suit. A quality tailored suit now can tag $ 350,-- if not more in Thailand. In Europe one can get the same quality, perfect cut, ready made for that price, so why buy in Thailand ?

[uncle tom]

Currency exchange is certainly a big consideration for many visitors, and for a country that is relatively self-sufficient like Thailand, it really doesn't do them many favours having a strong currency.

Not only tourism is affected - Thailand has quite a good stake in what might be termed 'intermediate quality' manufacturing - better quality than China, but cheaper than Korea. However, a persistently strong currency will weigh heavily against those exports..