Tourists say Thailand no longer feels like a bargain. Public backlash grows as the baht stays firm while wallets get lighter. (Photo by Jetsada Homklin) PATTAYA, Thailand – While headlines scream about a “weakened” Thai baht, the truth is more complicated — and frankly, misleading. The baht hasn’t significantly weakened in any meaningful long-term sense. If anything, it remains overvalued against several major currencies, especially considering the tourism slump Thailand continues to face. In the past week, the baht touched its weakest point in over a month, closing at 32.85 baht per USD, compared to 32.38 a week prior. But this slight shift hardly signals a sustained weakening. In fact, KBank expects it to remain in a tight range of 32.30–33.10 next week, depending on U.S. inflation data, foreign capital flows, global gold prices, and — oddly enough — tensions with Cambodia. Meanwhile, tourists — particularly from the UK, Australia, and Europe — are not convinced. “It hasn’t weakened at all,” one commenter noted. “It’s still too strong against any currency.” Another wrote, “We’re not even getting 43 baht to the pound — I remember when it was 70 or more. Thailand’s too expensive now.” The problem isn’t just the currency — it’s perception and purchasing power. Thailand relies on tourism for nearly 25% of its total income, but visitor numbers have reportedly dropped off by 30% compared to pre-pandemic peaks. A strong baht with low spending volume creates a serious imbalance. Currency strength should reflect the underlying flow of money and demand — and right now, both are lagging. Foreign tourists are increasingly price-sensitive. British tourists remember getting 65–75 baht to the pound. Aussies are seeing the baht hold stubbornly around 21 per AUD, while the euro barely stretches far in tourist zones. Yes, Thailand is affordable in absolute terms — but it’s no longer the unbeatable bargain it once was. Meanwhile, regional competitors like Vietnam and the Philippines are drawing budget-conscious travelers with better exchange rates and fewer structural issues. Some argue the baht is being deliberately propped up. With U.S. Fed rates remaining high and global investors cautious, the baht’s movement is more reactive to bond yields and global capital shifts than tourism reality. Add in recent trade talks with the U.S. and EU, and investors are treating the baht as stronger than what the tourism sector can support. Others say it plainly: “The baht needs to weaken to attract more tourists.” But currency policy isn’t designed to make beer cheaper for backpackers — it’s aligned with macroeconomic strategy and trade priorities. While tourists squabble online about exchange rates, Pattaya’s beaches are quieter, hotel occupancy is patchy, and nightlife venues aren’t pulling the crowds they used to. Even the lower baht against the dollar hasn’t reversed the dip in long-haul travel from the West. Yes, some visitors still come — but they’re staying shorter, spending less, and choosing neighboring countries more often. Thailand’s “value-for-money” edge is slipping, and unless the baht adjusts to reflect actual demand, it may slip even further. Bottom line? Stop calling the baht weak. It’s not. And until Thailand recalibrates its economic and tourism policies — or faces real currency correction — the only thing weakening may be its hold on its own tourism future.