Thailand Eyes $12 Billion Tourism Boost With Casino Legalization

(CTN News) – Research suggests that legalizing casinos housed within huge entertainment complexes and combating chronic unlawful gambling might boost Thailand’s tourism earnings by almost US$12 billion.

Average tourist spending may increase by 52% to 65,050 baht per trip after the entertainment hubs are created, resulting in additional earnings of up to 448.8 billion baht, according to research by a team of MPs that will be submitted to parliament today.

According to the report, the additional income generated may boost the country’s GDP growth by 1.16 percentage points.

The study may inspire the House of Representatives to move on with legislation to legalize casinos and other types of gaming. The team of parliamentarians, led by Deputy Finance Minister Julapun Amornvivat, has recommended a variety of protections to keep Thais from becoming hooked on gambling.

With Prime Minister Srettha Thavisin, who has been actively promoting policies to attract foreign direct investment, backing the proposal, it may pass through parliament with relative easy.

Galaxy Entertainment Group Ltd. and MGM Resorts International are exploring the possibility of opening casino resorts in Thailand as a hedge against unclear prospects in Macau.

Thailand’s planned entertainment complexes in selected regions will include not only casinos, but also five-star hotels, restaurants, and other tourist attractions, according to Julapun on X, the site that was previously known as Twitter.

Taxation and Revenue: Potential Benefits for Thailand

“The goal is to establish a comprehensive entertainment venue and to promote tourism in a new way to increase income for the country and solve the problem of illegal gambling,” she said.

The South-East Asian country, which is already a popular tourist destination due to its pristine beaches, Buddhist temples, and national parks, plans to more than double foreign tourist arrivals to 80 million by 2027. The industry generates around 12% of the country’s $500 billion economy.

The rapidly expanding worldwide fun-economy industry is worth approximately US$13.7 trillion, with the integrated entertainment venue market expected to increase to US$2.2 trillion in four years from US$1.5 trillion in 2022, according to Julapun.

He added that Thailand might generate billions of dollars in taxes and tourism money if such facilities are built properly, citing examples from other Southeast Asian countries, including Singapore, the Philippines, and Vietnam.