Archive for the ‘Business & Investment’ Category

I Need 3G

Thursday, January 14th, 2010

In Thailand I use 3G CDMA service from CAT (Communications Authority of Thailand) and I have become spoiled by the flexibility in movement and speed it provides. There were a couple of days in my hotel apartment in China the hotel’s internet stopped working. Somehow it was apparently acceptable that the internet in a business hotel could be down for a week without any other methods of connection being provided. My 3G connection in Thailand almost never goes down. I love my 3G.

Does India know how to survive in a service economy?

Sunday, March 26th, 2006

India’s outsourced service sector is booming, the way overseas manufacturing boomed in China several years ago; it’s apparent in both the call centers and software outsourcing industries. While India is making great leaps and bounds in its service sector, I question if Indian companies have the knowledge and personnel training necessary to deliver American standard service.

Maybe it’s just coming from world renowned Thai hospitality and the hotel industry, but the service at Mumbai eating establishments is horrible. From the waiter who disgustingly clears his throat before serving my food, to the ignored service requests, and the sweeping up of dust into the air; good service isn’t known in Indian restaurants. Certainly parts of my displeasure are culturally related but I think it stems a little deeper.

Of course training’s the only way to solve this shortcoming, but I wonder how easy that is to accomplish for a society who’s presumably grown-up lacking a service economy.

Incredible India or Unseen Thailand

Saturday, February 4th, 2006

It seems the “thing to do” amongst Asian tourism authorities these days is to add an adjective in-front of their name and use it as a marketing slogan—you have Incredible India, Unseen Thailand, Uniquely Singapore, and a few I can’t remember but am positive exist for South Korea and Japan.

Unseen Thailand and the Tourism Authority of Thailand probably have one of the most developed tourist infrastructures in all of Asia, especially compared to India. I think the number and popularity as a tourist destination definitely show for it. TAT does a really good job of getting out there and promoting Thailand. When I worked in the hotel industry, we often received site-inspection visits arranged by TAT offices abroad—from the U.S., Russia, Europe, etc.

Are the marketing costs worth it? I think in Thailand’s case definitely; their whole economy is based around tourism and they have a full blown program, starting with advertising abroad, but also following through with support services for tourists who do make the journey.

But this post is really about me finding it not quite as easy getting around India as Thailand and the rest of the Southeast Asian hippy trails. Despite the relatively high percentage of natives who speak English, the tourism network in India is nonexistent. When you go to visit the Gateway to India and the Taj Hotel next door, there really aren’t many signs, tourist maps, historic information, or even tour guides around to help you. I walked right by the Taj, not even knowing its significance until later!

Investing in Iraq & Emerging Markets

Friday, September 9th, 2005

I stumbled upon this forum website on investing in Iraq and thought I’d share it. I’m not sure I’d trust sending money to an unknown bank in Iraq to invest in Iraqi Dinars, but I’m sure the potential for huge profit is somewhere. I wonder what the track record of post-war economic turnaround is.

Anyway, going along with this theme I’ve started to slightly decrease exposure to oil/energy stocks (which are up big time for the year) and move them into foreign-based fund/indexes. One I’m using for the first time is the Emerging Markets 50 ADR Index Fund (ADRE) which invests in American Depository Receipts of large foreign companies that operate in developing markets.

Professional Blogger

Friday, September 9th, 2005

I’m trying to expand my professional bogging career and have recently started contributing to the Multilingual Search blog about e-marketing from a global perspective, especially as it relates to SEO in languages other than English. I’m a native English speaker and I’m ashamed (well, not really) to only speak English, but hopefully I’ll still have some useful contributions to make on e-marketing in Thailand.

My first post: Briding the mobile gap in Thailand

Reverse Outsourcing & America’s Brain Drain

Wednesday, August 10th, 2005

I was reading a contribution on the Duct Tape Marketing Blog Channel about an article that appeared in the New York Times titled MBA Students Bypassing Wall Street for A Summer in India and I was pleasantly reminded of myself :) . Although I don’t possess an MBA I fully understand the allure of working abroad in the business world.

Although wages typically can’t compare to those offered in the States, the cost of living compared to earned wage and overall quality of life exceeds that which can be found back at home. Combine this with every (well at least for me) college graduates dream to travel (and “explore the real world”) and you have a recipe for enjoyment and success. There was a CNN Business Traveler’s special on reverse outsourcing I saw on television a while ago, but I’m unable to find a link.

To a certain extent, I feel lucky because I have the software and business skills to work in my field virtually anywhere. There has been a thriving Teaching English and a Foreign Language (TEFL) industry that predates all this talk about reverse business outsourcing. Typically the only path for an American college graduate to live/work abroad has been TEFL in Japan, Korea, or areas of Central and South America. The other option of course is the PEACE Corps which has drawbacks of its own. Of course multinationals in this era of globalization, have been sending foreign workers abroad for quite some time. Usually tho, they only send experienced personnel who have been with a company for an extended period of time. They end up offering highly lucrative moving and compensation plans but at that age finding executives who are willing to pack up their families and live abroad is difficult. Anyway, it’s good to see additional options for working abroad and others in similar situations as I.

By-the-way I have a TEFL, but have come to the realization that teaching isn’t something to pursue the rest of my life. As such, I’ve gladly taken this marketing position abroad at a beach resort to gain useful experience while I explore Thailand’s culture.

Dynamic Pricing and Songthaew Drivers

Wednesday, July 20th, 2005

Amongst the local expats who live in my town, of which there are many, there has been some heated debate on the common practice of baht buses or songthaew drivers charging foreigners double the local rate. The rate around Pattaya for a local is five baht but double (ten baht or the equivalent of 25 USD cents) is expected from a foreigner. To be fair, I’m not directly affected because I look Thai enough to get away with paying either. For a while, I think mostly from traveling habit (I always attempt to travel like a local, and thus usually end up paying closer to the local price) I always paid 5 baht.

To most tourists and even most expats, paying an extra five baht is nothing. If rates were to be set based on a percentage of ones income, most foreigners when compared to a local Thai who is likely to be sitting next to you on a songthaew, should pay significantly more than double the rate. Before you call me a socialist, I seem to recall a professor telling me highway speeding tickets in Sweden are based on a percentage of your income. The theory being the threat of a $100 ticket for a millionaire is of little incentive to stay within the law compared to that of a minimum wage earning individual.

Westerners just seem to have a problem with people being charged different prices. In traditional markets in Bangkok it is likely a foreigner will end up paying more. They 1) can pay more 2) their bartering skills are probably less than par and 3) they require more effort on the part of the merchant to please when compared to a local. Thus, it makes sense for the merchant to charge more. I was reading an article at the Wharton School of Business about Dynamic Pricing that reminded me of the local songthaew drivers. Could it be Chatuchak weekend market vendors and songthaew drivers are one step ahead of western businesses?

For the record, I’ve been paying 10 baht per songthaew ride for well over 2 months now.

Forex Trading: Carry Trade

Thursday, June 30th, 2005

I don’t have much experience trading the forex (or FOReign EXchange) market but my curiosity has been reignited as I’ve seen the dollar gain so much strength in recent weeks. I’ve had an Oanda FXTrading account for a while but only recently started to place trades. So far my dumb-founded bets have been successful, but we’ll see how long this lasts.

One part that really intrigues me about forex trading is what’s apparently referred to as a carry trade. Let’s say I deposit $1000 USD into my oanda account. With this, I can leverage 1:50 and control up to $50,000 USD worth of different currencies. I don’t margin anywhere close to this ratio because it’s far too risky for me, but it is possible.

So with a $1000 account leveraged lets say 1:10 I can buy $10,000 USD worth of currencies and profit from the change. The Carry Trade comes in when you make a profit not only off the appreciation of the currency but also off the interest. If I buy 10,000 units (a $7,600 USD position) of the Austrian dollar earning 5.1% interest and sell the Japanese Yen where I have to pay .135 interest…each day I make $1.05 USD on interest alone.

The question becomes do interest rate differentials correlate to the appreciation of a currency? Theoretically I think the answer is yes, however in practicality, I think it’s far from true. Investopedia has a better explanation of a carry trade here.

A higher baht/dollar = lower cost of living

Sunday, June 5th, 2005

I haven’t blogged much about business or investments so this entry is about just that.

It’s only relevant to Americans who live in Thailand or are visiting, but the baht/dollar has risen almost 5% in the past few weeks on better US economic data. I’m thrilled because it decreases the cost of living here by 5% which is pretty significant. It’s more of a dollar strength than a bath weakness as Euro/US and Yen/US have also risen. The baht/dollar in recent years has stayed around 38-42 baht/$. So, equate the rise to receiving a 5% increase in your salary, for doing nothing. It’s a pretty big difference and its currency ups and downs like these that make inter-currency commerce difficult. I once did a paper on the Euro and what an important and necessary change it was for the European Monetary Union…maybe I’ll post it sometime.

Anyway, here are some links to currency related sites that I use:

Oanda — For Daily and Historical Currency Price Quotes and Trading
Dismally.com — A blog written by a currency trader
Tim Laffel’s Cheapest Destinations also has good information for the fx conscious budget traveler.

Summer Learning & Geek Tech Goes Traditional

Friday, August 6th, 2004

I think I?m finally getting a grasp on VB.net (programming). I had tried before, for various programs I needed to make but simply never fully understood Object Oriented Programming or the .NET structure. Prior I had a bad habit of becoming frustrated and simply purchasing programs from RentACoder.com. RentACoder is great and facilitates programming outsourcing for ridiculous prices but ultimately too much control is lost. As a business thinker and a programmer I see the difficulties in getting a program done exactly the way you want it, by someone else. Anyway, it took a summer of too much free time, really expensive books, and a desire to finally figure out VB.net.

I ordered my parents a VoIP (Voice Over IP, for you non-techie folks) phone and had a chance to test it out. I had experimented with VoIP technology way back in the day with Net2Phone and other similar products only to be unimpressed. Today?s mainstream VoIP carriers really have it down. The call quality including delay, dropped calls, and overall voice quality are all comparable to a normal telephone. The international rates are great (important only because I?ll be traveling soon) but really I just needed an excuse to pay for a new toy. The adapter actually isn?t much of a toy but connects directly to your internet connection (without a computer) and then onto your traditional phone system. A year ago Cisco was selling a VoIP adapter in the $100 range but prices have come down. I signed up through BroadVox Direct for a $40 signup fee (including adapter and activation fee) plus $12.95/mo and I am satisfied.

There was an article a while ago in Business 2.0 about a company called ZipRealty. Essentially they are a non-commission based real estate agent with dramatic price savings and tech savvy tools. The full access to MLS listings and past sales data is invaluable when value hunting for a property. Definitely check it out if you are buying or selling a home.