A Case for Settling Down in Thailand for Good.
I write this article just as countries are starting to open their doors for travellers after Covid-19 has destroyed the tourism industry. At this moment, Thailand is still closed, but as we know, time will tell how long their borders will remain this way. Thailand relies heavily on Tourism, as many countries do. Once their doors are open, I really encourage you to visit this most beautiful and hospitable country. I have been many times in my life and always come away with a sense of peace and gratitude.
There have been a lot of moments in my life when it’s occurred to me that a lot of people—sometimes even myself—forget exactly why they pursue wealth. See, fundamentally, money and wealth are supposed to open new doors to living a free and unencumbered life.
If you have money in your accounts and investments that generate huge returns, it allows you to make decisions that are frankly far out of the usual person’s reach. Your wealth enables you to do things that other people can’t. Whether it’s better healthcare, education for your children or enriching your life through cultural experiences that are far removed from your local settings, that is why we try to acquire more wealth.
Why is Wealth so Important?
This realization was what propelled me into becoming a perpetual traveller and established my faith in the wisdom of the Flag Theory. I was always a libertarian, but until I had this idea—I didn’t imagine the sheer extent of my possible freedoms and the ways in which my wealth might help me attain those freedoms. For this reason, I also keep suggesting people travel the world and get their hands on multiple passports or set up offshore corporations—because while there is an obvious financial benefit to these moves, they also give you the freedom to move around wherever you want to. It’s also a large part of the reasons why I have travelled so much in my life, and still continue to do so—all of this travel actually improves my quality of life.
I’m speaking in this vein because money for money’s sake might not be the best way to approach your life. The question that I’m posing right now begs for reasons that might justify your pursuit for wealth—while I’m not denying that financial success is rewarding in itself, but that’s not the only point of acquiring wealth, is it?
Having said that, I’d like to draw attention to some Asian destinations that offer a rich and vibrant cultural experience. Thailand is one of the few places on earth that has retained much of its traditions and cultural values while continuing to thrive as an economically advanced nation. These characteristics of the Thai nation make it one of the most enriching experiences of your life—the best part is that Thailand is one of the most accessible countries in the world.
Reasons to Move To Thailand
One of the good things about Thailand is that it offers you a very vibrant cultural experience at a fraction of what travel would cost in other places in the world. The low exchange rates, the emphasis on tourism and the country’s natural beauty set it apart from other countries around the world. Whether you’re thinking of settling there for good or if you’re thinking of spending a few years there, in either case, it’ll be one of the best life decisions you’ve ever made.
The Cost of Living in Thailand
Thailand is arguably one of the cheapest places to live in if you’re coming from a first-world country. While this is an advantage that most Southeast Asian nations offer, the Thai have kept inflation and exchange rates low as part of government policy to improve trade and tourism to the nation. They play on low exchange rates using the volumes of trade and tourism generated owing to their affordable good and services.
While it’s difficult to assess exactly how cheap living a luxury lifestyle is in Thailand—estimates suggest that you need a minimum of $600 a month to get by. A mid-tier lifestyle costs about $1000 a month owing to the cheap services and really low rent rates of about $600 for the best homes in metropolitan areas like Bangkok. Utility rates are similarly low, costing people about $50—$60 a month and even housekeeping charges lie around the region of $15 monthly in the northern city of Chaing Rai. So if you have anywhere around $2000–$4000 to spend on average—you’ll live like a king.
The Forests and Beaches in Thailand
Thailand has versatile geography, in the sense that it’s a three-way split between exotic jungles, beautiful beaches and highly urbanized metropolitans. Bangkok, Chaing Mai, Phuket, Pa Tong and Pattaya Beach are the more commonly known areas in the country offering more entertainment and relaxation opportunities than you can keep track of. It’s also really easy to find luxurious homes to live in these exotic locations that keep you comfortable while also letting you experience living close to nature.
As a tropical region, the climates never reach extremes in Thailand. The moderate winters and somewhat hotter summers never stop you from going out and pursuing whatever activities you want. This temperate climate is also one of the reasons why tourists visit Thailand around the year—because the country is never uncomfortable to land in.
Culturally Diverse Population
Since the country is one of the tourism centers of the world, the people and society have morphed themselves into a very accommodating place for foreigners from around the world. Even now, the country is home to a large population of expats and millions of people visit the country every year. This makes it really easy for people to settle down in the country and often maintain the same lifestyles they had in their home countries.
If you’re considering moving there with family, you’ll find no shortage of excellent schooling, world-class healthcare and even a burgeoning start-up culture that offers you multiple investment opportunities. Thailand offers you the best of both worlds—it minimizes the uncertainty of transitioning to a new country while also giving you the room to experience the exoticism of the Thai nation.
Over the last few decades, many people left their home country to teach English abroad. Today, with the Coronavirus, that has become all but impossible. As we begin living our new normal, teaching English on-line will be the way to go.
If there was one place for someone to settle in and grow as individuals, then Thailand is definitely one of the best destinations for such a pursuit. The country’s doing really well from an economic standpoint, it’s a fairly politically stable nation and it offers a diverse range of experiences that can significantly improve your quality of life.
With this valuable addition to your life, the low cost of living and the accessibility of the country from virtually any corner of the world—there is little else that anyone can ask for. I, personally, would encourage everyone to consider moving to Thailand to take advantage of these opportunities that the country offers and invest in possibly a profound improvement in your quality of life.
I hope you got value from this fun read: A Case for Settling Down in Thailand for Good. If you would like information on second residency/citizenship, please contact our office HERE. I have also included some articles that I’m pretty sure you will love! They will help guide you on great places to visit, how to achieve residency and is Thailand the place for you to retire.
About The Author
Mikkel Thorup is the Director at EscapeArtist.com the oldest and largest offshore website in the world and hosts The Expat Money Show podcast. He is also the author of #1 Best-Selling book Expat Secrets on Amazon. Mikkel has spent over 20 years in continual travel around the world, visiting more than 100 countries including Colombia, North Korea, Zimbabwe, and Iran. His goal is to help people just like you to generate additional streams of income, legally eliminate your tax bill, and take advantage of offshore structures so you can travel the world freely and never have to worry about money again. Follow Mikkel Thorup on Twitter @ThorupMikkel
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