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#1 halfhansum

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Posted 05 August 2018 - 04:08 PM

I am holding back on my next trip, until after the Brexit shite is settled ..

 I have a nasty feeling that our Pound is going even further down the crapper , and being on a Budget, makes a big difference .

 Is anyone else holding back on booking flights ?

 



#2 z909

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Posted 05 August 2018 - 04:36 PM

No.   The next trip is booked and it will be the longest ever one.

 

The pound has long been at risk, due to a balance of trade deficit and an economy that seems to rely on consumer & government borrowing.    There is a Brexit risk and an even bigger threat of the anti-semitic idiot marxist opposition getting elected.  The same people who admire the regime in Venezuela.   Look at what's happened to their currency.

 

Of course, we can take steps to mitigate the risks of all this. 

 

Anyone splashing out on trips to exotic tropical destinations should also have some savings and pensions building up.  These typically come with options to invest overseas, including Asia.   So even if the pound goes down, your investments hold their value.

 

 

Of course, I'm also NOT staying in some high end Bangkok hotel and burning through 5000 baht in the gogo bars every night.    I'll spend just a few days in Bangkok, do some traveling around the region and have a couple of weeks in Pattaya.

 

Also, I have made choices.   For example, there is no £35k Jaguar on the drive, rather it's a >10 year old vehicle that cost less than 2 weeks salary.    There are numerous other examples of financial prudence.  



#3 nynakedtop

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Posted 05 August 2018 - 04:56 PM

From the USA here....

 

Don't want to risk getting all political here and making friends/enemies - I have plenty of hate coming (and some love as well) on another forum similar to this one!

 

But - being away from the US right now is the best thing that has happened to me since November of 2016, if you get what I mean. Reading posts from European persons here intrigues me because I always thought that nothing could be worse than the situation in my own country.

 

As we say in American slang "try walking in my shoes!"



#4 z909

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Posted 05 August 2018 - 05:11 PM

The US dollar is currently the world's reserve currency, so the US gets some boost from that.   Therefore, the US tourist currently enjoys a strong dollar.   This will not always be the case.

 

As for the idea that nothing could be worse than the situation in your own country, well try looking at a few alternatives like Venezuela, Syria & Pakistan.    Even a notch up, in places like Cambodia and the Philippines, it's not exactly easy to get a good education and accumulate some middle class wealth. 

 

We have had it good, when compared with other nations and even compared with our own nation over the last 1000 years or so.

We just need to make the most of the fine opportunities that we have.



#5 nynakedtop

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Posted 05 August 2018 - 05:15 PM

The US dollar is currently the world's reserve currency, so the US gets some boost from that.   Therefore, the US tourist currently enjoys a strong dollar.   This will not always be the case.

 

As for the idea that nothing could be worse than the situation in your own country, well try looking at a few alternatives like Venezuela, Syria & Pakistan.    Even a notch up, in places like Cambodia and the Philippines, it's not exactly easy to get a good education and accumulate some middle class wealth. 

 

We have had it good, when compared with other nations and even compared with our own nation over the last 1000 years or so.

We just need to make the most of the fine opportunities that we have.

We are of one mind on everything you have written here.... Which makes the situation in my country so much sadder.... a nation with so much economic wealth can travel down a road of spiritual poverty.



#6 vinapu

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Posted 05 August 2018 - 11:40 PM

I am holding back on my next trip, until after the Brexit shite is settled ..

 

that may take several years so better don't do that to yourself, nobody will wipe your tears if you'll cry over missing opportunities



#7 vinapu

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Posted 05 August 2018 - 11:44 PM

  There are numerous other examples of financial prudence.  

like whoring in SE Asia instead of locally where escorts can cost multiples of what even greedy Thai boys and girls  charge 



#8 vinapu

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Posted 05 August 2018 - 11:49 PM

.... regime in Venezuela.   Look at what's happened to their currency.

 

 

currency may be worthless but their banknotes are one of most attractive looking around.

 

In border cities in Colombia according to The Economist is thriving industry producing things like bags made from circulating Venezuelan banknotes



#9 vinapu

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Posted 05 August 2018 - 11:53 PM

.... a nation with so much economic wealth can travel down a road of spiritual poverty.

That surprising , I thought spirits are not expensive and easily available all over USA



#10 halfhansum

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Posted 06 August 2018 - 12:39 AM

It looks like that`s a NO then ...Lol 



#11 Travellerdave

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Posted 06 August 2018 - 02:03 AM

I think trying to forecast future exchange rates is a mug’s game. Z909 has said it all. Mind you if you are really worried you could buy Swiss francs, which are the world’s strongest currency with their government struggling to hold the value down. Mind you there would be the extra cost pounds> francs > baht.

#12 z909

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Posted 06 August 2018 - 03:07 AM

I think trying to forecast future exchange rates is a mug’s game.


Agreed. Although, for any country running deficits, devaluation is certainly a possibility over the very long term. That certainly includes the US.

Fortunately, we can invest our pensions, ISAs etc in all sorts of attractive funds & trusts which hold a wide variety of overseas stocks & shares.

With a bit of simple maths, you could even hedge against exchange rate movements.
2 months a year in Thailand ? Put 1/6th of your pension/ISA in an Asian Investment trust.
Then look at where all the goods you buy come from and do the same for the source currencies..

That's not quite the way I do it, but it's way more robust than holding nothing but Sterling assets, whilst spending 20% of your money in baht, plus all the imports from China, EU and various other places.
Roughly 44% of my retirement fund is in Asia & it's been like that for many years (often higher).

#13 gerefan

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Posted 08 August 2018 - 07:34 AM

I am holding back on my next trip, until after the Brexit shite is settled ..
 I have a nasty feeling that our Pound is going even further down the crapper , and being on a Budget, makes a big difference .
 Is anyone else holding back on booking flights ?



No. Go now it will never be cheaper!

#14 Londoner

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Posted 08 August 2018 - 01:28 PM

Carpe diem. 






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