Ahhh! Thailand, the famous Land of Smiles. A wet dream for many, yet a fulfillable one if you see the influx of Farangs, who find a place to live long-term in Thailand over the last couple of years. Great tropic weather, friendly and beautiful people, relaxed beach life and a cuisine to die for – are there any more reasons to retire in Thailand?
Maybe cheap Costs of Living, compared to your motherland in Europe, the US or Australia. And surprisingly, Thailand can even score in this regard. Here is the latest update of prices for day-2-day items, in our tradition of cost of living comparisons for Asian holiday destinations:
Thailand is of course very diverse, from the most beautiful beaches in the South and a bustling capital with *everything* for sale in Bangkok, to the mountainous areas and striking rivers around Chiang Mai to the laid-back village life in Isaan, the country almost has it all.
About Phuket
Today we will especially look into Costs of Living in Phuket, a favorite beach destinations for short and long-term travelers. Phuket is located at the south-western part of Thailand, geographically an island, but connected via a long bridge with the main land. I used to travel to Phuket at least once a year in the 90’s and even more often when living in Singapore from 2003 onwards. Despite its recent over-development and character as a package tourist destination, it still has a strong pull and plenty of unspoiled beaches, less populated corners and is very affordable.
My last visit to the island is already a while back, so I asked Thomas, my previous landlord in Kamala beach, to update the price list for me. Thomas is a happy-go-lucky Southern German, who lives in Thailand already longer than a decade. He is happily married to a lively local woman and has 2 beautiful children. When he isn’t cruising the island on his Honda Shadow chopper bike; Thomas is renting out a few nice and clean apartments in Kamala beach. Besides that he is running an on- and offline store for jewelry and beads to keep him busy. Check it out on this site.
Here are the numbers:
Economic figures
The inflation in Thailand was 7% in 2008 and is seen as decreasing to 3-5% in 2009, despite the global economic crisis.
Good for you – if you earn your money in a country with less inflation and your base currency is stable or appreciating, you still save more or spend less over a year – even with rising prices in Thai Baht.
The Thai Baht showed plenty of volatility over the last couple of years. Especially against the Euro it became stronger, while the US Dollar or the Singapore Dollar mainly remained close to their historic exchange rates. Still, the country offers good deals for food, housing and everything you need to live a comfortable life.
Also bear in mind, that Phuket is one of the more expensive destinations in Thailand. So if you have less money to spend, you might want to consider more remote areas for your long-term stay.