the lowe down
february 2007
TLR is just back from a week on Phu Quoc, the Singapore sized island off the coast of southern Vietnam’s Mekong Delta (and what was once historically part of Cambodia). Slated to become the next Phuket, Samui, or even Bali, Phu Quoc has been on the launching pad for years but without any major changes to speak of. (It was also the scene of a fascinating footnote to the American war in Vietnam; look up ‘ss mayaguez’ on google to find out more)
For over ten years now, talk of cruise ship terminals, direct international flights, casinos, amusement parks and more have been swirling round the conversations of marketing managers in asia. In recent months, a visa free policy for all nationals traveling to the island has been reported; tourists are supposed to get 15 days free entry, however, to do so, you need a valid Vietnamese visa to pass through Saigon’s Tan Son Nhat airport, in effect negating this policy completely.
It’s typical of Vietnam to roll out some advanced master plan for a place, expecting foreign investors to stumble in with the cash and pay for all the developments; at the moment, it’s the catch 22 of the airport vs. the road: major hotel chains have demanded a paved road to the new international airport that has been planned 5 kilometers south of Duong Dong town, but so far, no steps have been taken to pave it, and no steps have been taken to build it. So, in the mean time, the rural, peaceful life of Phu Quoc goes on, though there is no electric energy of impending development, or tourist boom; though Vietnam airlines operates up to five flights a day now, there is still a deserted, end of the world feeling on Phu Quoc, which suits most locals and visitors just fine.
Take a drive anywhere on the island, and it will be dirt roads; eat at most restaurants, and its still plastic chairs; and ask for directions in English, and it will be wide, but blank smiles…..
..and as you stretch out on Bai Sao beach, with sands as beautiful as Mauritius, or the Seychelles, ponder this: Does the world really, really need another Phuket????
In other news, the Thai Baht has strengthened against the US dollar by as much as 20% in the last two months, slashing holiday budgets and ending the reign as one of Asia’s cheapest countries; for years air tickets there were 50% of what they were in other countries, but now, expats are fleeing to Cambodia, Vietnam and even Malaysia for cheaper tickets home. And quickly, a growing whine is being heard at exchange counters across the kingdom: why is my money going far less than it’s supposed to?
For decades, the smugness of Americans, Japanese, and Europeans was palpable as they stood in line at exchange booths, watching huge stacks of cash pile up as their money was converted. It had become a right, not a privilege with this financially favourable situation, fuelling people to spend more, shop more, drink more, and consume more.
Only in the last five years or so have Americans felt like they were carrying pesos when they went to London or Paris; but now, even in Asia. US dollars ain’t what they used to be, Singapore and Hong Kong have become almost European in their costliness and even Seoul, one of Asia’s bargain basements just a few years ago, has soared to the top of the list of expensivity.
But who are we to gloat when we get more money for our Yen, Euros, and Dollars? The natives of those countries could never afford what we can afford in our own countries, and the thoughtless smile each time the money piles up should be wiped off our faces.
Anyway, with the recent slide of the dollar in Th ailand, and the squeals of countless tourists as they collect shrinking piles of currency from those ATM’s and exchange counters, will only grow; to other countries perhaps? Could Cambodia, Vietnam and even India one day become as expensive as home? Stranger things have happened.
Lastly, its the first time TLR has heard this: a seventy year old ex-marine killed an attacker in Costa Rica this month, who had held up a group of Carnival cruise ship passengers. He killed the attacker with no weapons other than his hands….. local police say he won’t be charged, as he acted in self defense. For any tourist who has been mugged in Rio, or robbed in Nairobi, this act might come as a bit of revenge.