@Greg *******

they only need 500k once and some have circumvented even that. I totally agree on the travel thing though. For 5k THB you’d have a great few days in Hoi An, Siem Reap, Da Nang, Penang….

I’m from the UK and no way I wouldn’t have travelled a couple of times a year into Europe so to do similar at a fraction of the cost is a no-brainer. Sure, some retirees aren’t able or willing to and they’ll stick with OA, but for many this isn’t the hurdle.

We’re batting for the same side here though so I’m resting for the day 😂

@Greg *******

I’m close to retirement visa age and I’ll do this rather than an OA. I know 2 who are switching, but tbf my audience and community is mostly younger than that so not enough to gauge really. I’ve been through borders here probably nearing 100 times now and not once paid an officer. Paid more to the traffic cops!

And yes, a lot of people form their opinion from social media! I’m a data guy, so that’s where I look. Early days to form much useful info yet, but as I’ve been saying look into what economic projections say and it’s not long term stayers that will spur on the economy.

The irony is that Thailand rarely thinks long term but a load of people moving onto the DTV will make it a lot easier to clean up the mess of visas in play now and start again! If they think that far ahead anyway.

@Andy ***********

as you say, plenty of agents will go out of business too (that 800k makes money for the economy one way or another) - the ones I know who own agencies are losing business and one or two now likely going unemployed. They can’t make anything from the DTV. That is definitely not good for the economy.

Not disputing at all it’s a great deal for foreigners, but as with the hash it’s not bringing 10s of thousands more people - mostly the same people already here or coming here. That’s the data right now. Not new people, the numbers are the same. It’s early though so neither of us can rely on that data either way.

Good for foreigners? Absolutely. No evidence or economists yet (yes I’ve studied it and read what they say, not what randoms on the web are guessing or hearing in discussions with a dozen people) saying it’s materially good for the economy.

Happy to be be proved wrong as I’d love to see my Thai friends benefit from it. As w’ve both said, time will tell. There will be ways it adds to the economy and ways it doesn’t. Most of what we spend doesn’t go to the government so they’ll soon miss that, but projections suggest the scales won’t tip in Thailands favor.

@Rob ********

yeah, this is pretty measured thinking. Tend to agree. Once you have it you have the DTV you have it - it’s that it’ll be withdrawn as an option at some point. It’s not going to boost tourism - tourists with the money Thailand wants only come for 2-3 weeks anyway. It might stimulate some local economies a little, and more might make Thailand their tax country I imagine.

@Andy ***********

ah ok, I respect your opinion - just sounded like you'd been told it was a lock. Always good to have two sides. That's a very small sample though - a couple of landlords and your friends. I run a community of into the thousands here and can concur that it is good for more than just dn's. However, Bangkok is a bubble as is a small community of people within that bubble.

Don't want to second guess your economics credentials, but take one of those other groups - retirees. Immediately, the Thai economy lose (assuming a very conservative 2% compounding for the 5 years of the DTV, plus the govt will take tax from that) 60,000baht for every one who switches to the DTV - that 800,000THB that sits there makes money for banks and the government. Additionally, the thousands spending 100,000k-plus on business visas to work in the grey area here (there are plenty - a friend has an agency who does this and they are having to pivot or close) can now spend 10k every 5 years instead.

Yes, it will attract some new people who will spend some money but the economy is is negative equity from most of them from day one - though most of the DTVs so far have been people here already or coming here anyway. As a couple of people have said, it is too early to say it's been a roaring success.

We spoke to the representative from TAT at the launch event and questioned why they have priced it so low for so long when "competing" countries - 80% of people will choose Thailand over Ph, Vn, Mal, Bali if the visa playing field was level btw - and they didn't really have an answer other than it is a reaction to tourism numbers being down. It was rushed, and there was a new PM within a month whose messaging was not in total support let's say.

Golden ticket for the Thai economy it is unlikely to be. I have changed my tune a little on it's effect on the culture though, which I was initially worried about. They did/do have an excellent opportunity to take the Majorca and Ibiza route and target the high end - people coming for 2-3 weeks spending 10k+ a day instead of the expats and dn's who largely spend the same over 4 months - as Thailand has far more to offer than them. They had started that tbf, with the previous PM investing a lot into Phuket to push the target clientele that way.

As you say, we'll see. Sounds like you've been here a while so are familiar with fickle nature of immigration and Thai politics (though admittedly also the slow wheels behind it) so I don't think either outcome will be a surprise to either of us. Fun discussion though!

Now or when you apply?

@Andy ***********

mine was just an opinion. You stated a definitive. That said, economists predict it won’t prove as good for Thailand (don’t need to be an economist to see that tbf) - it’s already been stated it wouldn’t have gone through with the current leadership.

@Andy ***********

for digital nomads, sure. Curious to know who in the government told you it’s definitely not going anywhere though.

Pretty sure this won’t be around in 5 years - maybe not even 1 year.

You can’t have a WP with a DTV obvs, but it’s not really the permit. It’s the visa type - OA - which has several types including retirement visa. I know a visa agent and wealth consultant here and the DTV is deemed the same as a TR in terms of getting a bank account - ie you’ll struggle to get one.

Find the right agent and you’ll be able to get one I’m sure.