Over the course of the next 5 to 20 years, Thailand will see some major changes and one of those changes that will effect everyone is cost.
Thailand is already seeing a huge increase in cost in places like Phuket and Koh Samui, which appear to be the favorite locations for Russians escaping the war. 400,000+ Russian’s moved to Phuket between Jan. – June 2023.
Financial changes are never good in the third world where wages can remain stagnant for years.
It seems every time the government gives the populace a small raise, the next day the cost of basic consumer goods increase. People can never get ahead.
As an expat living, retiring or contemplating moving to Thailand long term, you have to understand once your income stops increasing and you are on a fixed pension, rising costs can have a direct effect on your quality of living.
One thing I have noticed, is not much seems to increase in rural Isaan where farming is the only way of life.
If you can handle living in extremely rural Thailand, Isaan may be the best way to mitigate increasing costs in the future.