This doesn’t come as a result of Taiwanese tourists spend a lot during their international tours- because they don’t. It’s a harmful effect of governmentally-weakened Taiwan dollar.
Is taiwan an outlier in this or is this pretty much true for most countries.
No statistical to show that one way or the other. The basic assumption in my post is that Taiwanese tourists don’t spend that much in terms of the true value of what they spend money on. In simpler words, NT$200 can get you a decent meal in Taipei but what mean can US$ 6.6 (roughly what the NT$ 200 is worth) get for you in Los Angeles?
Well it is true for Canada.
I’m guessing that’s the case for all countries that aren’t exactly tourist hotspots but the citizens are economically capable (relatively speaking) to travel internationally. For example, Spain probably runs a huge surplus as they are overwhelmed by tourists. They receive more tourists annually than their entire population. Same goes for small, popular destinations like Austria, where the annual tourist arrivals are three times the size of their entire population.
That might be true, but for example Taiwanese tourists were the second highest spenders in Japan in 2016 on total value. How do you explain that with the weak exchange rate?
Japanese Central Bank manipulates their currency even more strongly than Taiwanese Central Bank does.
So you’re saying that COL is lower in Japan than in Taiwan because of their currency manipulation? That’s just absurd.
I think the reason to this is pretty simple: the number of outbound tourists is (far) higher than the number of incoming tourists, which is true and by no means an exclusive phenomenon. As I was showing you, Canadian dollar used to be extremely strong in 2014 but in that year Canada was running a huge tourism deficit, yet it reduced in 2016, when 1 CAD was not even 0.80 USD. Same goes for the UK and I don’t think any other currency was stronger than the Pounds prior to the referendum. The reason? They receive less tourists.
Phrase “currency manipulation” is usually used by dump politicians
But need to say i enjoyed my beer in japan a lot. Heard on news yen drops like over 50% from high vs usd and wow japan suddenly get cheap. Lets go. Had a beer in japan for 4 usd. It can not get better.
Japan is absolutely exploding with tourists , not good if you are trying to get through the airport or visit the sites!
About Japan, Outside of Tokyo area, the rent is cheaper and cost of living is not much higher but wages are much better on average. Our Sapporo office staff which come outside the city, pay rent which is less than Kaoshiung for a better house, which I was surprised. That being said, Japanese, Americans and people in New Zealand, area which I split time between Taiwan, spend a lot more on their homes(not real estate but inside and outside the home) and cars. From my view Taiwanese spend little to up keep outside their homes, and inside spend less on cheaper furniture and other home décor. People in the States (today in Seattle) and New Zealand also spend more on boats, big cars ect. Taiwanese choose save and spend more on travel.
Japan was just the only example I could find. I wasn’t comparing.
My point is it’s not enough to claim that tourism deficit is caused by the currency manipulation as there could be plenty of other reasons, such as no one really comes here so the receipt is low.
Do you have more concrete examples to support your claim?
Do you believe that people should believe that?
Do you want people to believe that?
Do you believe Centreal Bankers?
Do you believe that people should believe what Central Bankers want them to believe?
Central Bankers in every country believe in secret police doctrine- deception, manipulation, intimidation …
They are the major authoritarian authority in any democratic system.
Whenever they are criticized, they will use those secret police tactics to counter-attack.
We citizens don’t need to need to put ourselves down, don’t need to feel inferior intellectually or morally. We fight back with sensible logic argument. Our common sense, personal experience, data mining skill and independence thinking are our aids.