Thailand To Lure Wealthy Tourists

Bangkok, Thailand, credit Alejandro Cartagena on Unsplash

The Thai government has set a “proactive economic plan” aimed at attracting at least 1 million high-income foreign tourists and investors.

The plan is designed to attract wealthy tourists, especially retirees, to visit and hopefully settle in Thailand. The plan is particularly aimed at visitors from Europe, Japan and South Korea. It will involve amending regulations governing foreign property ownership to allow them to buy houses in Thailand more easily.

“There are about 200 million of them around the world [retirees] and we have set a target of drawing 1 million to Thailand each year.”

“These people earn about 300,000 – 400,000 baht [approx £6,953 – £9,271 / US$9,596 – US$12,794] a month. Of 1 million of them are here in Thailand and spend around 100,000 [£2,319 / US$3,198] a month each, Thailand will get about 1.2 trillion baht [£27.8 billion / US$38.4 billion] a year from them.”

ML Chayotid Kridakon advisor to Deputy Prime Minister Supattanapong Punmeechaow

The plans also involve measures designed to attract more foreign investors and specialist workers.

These measures include improvements to regulations on immigration and applications for visas and work permits. There will also be changes to the taxation system including reducing corporate income tax and improving privileges and benefits for regional hubs, retirees, self-employed people and start-ups.

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Published by flyingdogtravel

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