“Not Just the Baht” — As the baht falls, long-term visitors say Pattaya must fix dual pricing to truly win tourists back. (Photo by Jetsada Homklin) PATTAYA, Thailand – The Thai baht opened sharply weaker on Thursday, falling to 32.73 baht per U.S. dollar, down from 32.49 at the previous close. While the dip marks a notable shift in favor of foreign currency holders, analysts and visitors alike say the currency move is “almost perfect — but not quite enough” to reignite a strong inbound tourism rush to Pattaya. The euro and British pound have also seen modest fluctuations, but neither is currently strong enough to significantly lure back the crowds — especially amid rising airfares and ongoing concerns about pricing transparency and fairness. Financial markets reacted to the U.S. Federal Reserve’s decision to hold interest rates steady, while Chairman Jerome Powell struck a cautious tone, signaling no rush to lower rates. This, combined with stronger-than-expected U.S. jobs data, fueled the dollar’s strength — and pushed the baht into its weakest territory in weeks. Krungthai Bank now forecasts the baht to fluctuate between 32.60 and 32.85 per dollar. Still, while currency shifts like this typically attract budget-conscious travelers, regular visitors to Pattaya say it’s not just about exchange rates anymore. “Even with the baht weaker, Pattaya isn’t as cheap or as welcoming as it used to be,” said one longtime retiree living in Jomtien. “There are still dual pricing policies at beaches, parks, and attractions. That leaves a sour taste — not the exchange rate.” The baht’s slide was largely driven by rising U.S. bond yields and a stronger dollar, following upbeat private employment data. Yet, analysts say the weakening may be short-lived unless further signs emerge that the Fed will avoid any rate cuts this year. Current market expectations now see only a 39% chance of two Fed rate cuts in 2025, down sharply from earlier in the year. While the weaker baht offers some cushion for international spending — softening the blow of airfares, hotels, apartment rentals, and dining — Pattaya’s tourism veterans say it won’t be enough to tip the scales unless pricing transparency and fairness improve. “It’s not about a few baht here or there,” said one longtime expat. “It’s about feeling like you belong, especially if you live here, work here, or visit often.” As the exchange rate continues its bumpy ride, one thing remains clear: If Pattaya wants to win back the trust of repeat visitors, a cheap baht isn’t the full answer — fairness is.