BudgetTravel

Nearby, the Central Department Store has a top-floor restaurant called "The Terrace," serving tasty plates of fried rice with beef, chicken, or pork for $3, and elaborate noodle dishes for only a few cents more and this is in a bright, modern, air-conditioned dining room.

The cheaper Chiang Mai

Get out of cosmopolitan Bangkok and prices are even lower -- sometimes astoundingly low.

Chiang Mai, 440 miles northwest of Bangkok, is regarded by many as Thailand's most livable city. It has over 300 temples -- almost as many as Bangkok -- and is the country's handicrafts center. You can fly there for $50, but why not go by overnight sleeper train and save a night's hotel cost? The train fare, first-class bed included, is a mere $30; an adequate second-class bed is half that.

Beside the devaluation, Chiang Mai presently has a hotel room glut, so prices are unbelievably low. A room at the posh, five-star, 526-room Sheraton Chiangmai might be worth $250 in New York City, but can be yours for an astounding $75 here. But why pay even that much? The 444-room Chiang Mai Plaza has most of the same amenities yet charges only $45.

But these are luxury hotels. The completely comfortable middle-range hotels have even more Thai character and yet charge much less. The Galare Guest House, as much a modern hotel as a guest house, has fully air-conditioned rooms for $24. The Riverfront Guesthouse is a large, traditional teak house featuring a good Thai restaurant and air-conditioned rooms with private bath for a mere $15. Want a modern hotel with swimming pool, TV, and telephone as well as air-conditioning? Try the Anodard Hotel, at $10 a night. Remember, these are the better hotels, not rock-bottom budget places, and there are many more like them.

A visit to the hill tribes virtually for free

From Chiang Mai, it's easy to arrange a trek to visit the country of the hill tribes of northern Thailand. This once-in-a-lifetime experience -- like everything else in Thailand -- is now astonishingly cheap. A four-day, three-night trek can cost as little as $35; a deluxe seven-day, six-night trek including river rafting and elephant riding is only $60 -- and that's not the price per day, that's for the entire weeklong experience, simple lodging and meals included. Check with the Tourism Authority of Thailand (TAT) office (tel. 66/53/248604, fax 248605) on the Chiang Mai-Lamphun Road near Nawarat Bridge for recommended trekking companies.

Go now! Thailand is among the world's friendliest, most interesting, and most beautiful countries. Right now you have the opportunity of the century to see it.

Thailand MiniGuide

Information Tourism Authority of Thailand, 61 Broadway, Suite 2810, New York, NY 10006 (tel. 212/432-0433, fax 212/269-2588);

Airfare