Russians Dominate the BRIC Market into Thailand With the worldwide credit-related meltdown starting its third year of reduced spending by Westerners, the countries fairing the best in the short term are the countries with the cash economies now referred to by economists collectively as “BRIC.” The BRIC countries are Brazil, Russia ,India and China.
Stories of Russians coming to Pattaya with suitcases filled with US dollars are plentiful. Russian citizens were not hurt by the global credit crisis of 2008 because they deal in cash. This is true of Chinese and Indians, also.
The Chinese and Indians have multiplied their tourist arrivals to Thailand since the financial crisis began in 2008, but now the largest market in Pattaya is by far the Russian market.
“The Russians are younger and spend more money than Chinese or Indians. They travel alone, as man and lady couples or in small groups so they are not controlled and shop freely,” said Khun Gao, a happy mobile phone seller in Tuk Com IT Center on Pattaya Tai.
Pegas Touristk alone is bringing in more than 1,000 Russians per day to Thailand. Pegas’s tourists stay in Jomtien and in smaller hotels in central Pattaya, are lower budget than the major-city Russians checking into Naklua hotels and come on direct flights to Bangkok from all over Siberia.
More than 3,000 Russians arrived each day into Bangkok’s international airport in 2010, according to Thailand Immigration Bureau statistics.
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