A new “Tourism Transformation Fund” has been announced in Thailand that is aimed at raising money for high-value and sustainable tourism projects.
Main picture Sathon, Bangkok, Thailand credit Surasit Laopa on Unsplash
The fund will see a 500 Baht (approx £10.92 / US$14.80) fee being collected from all foreign tourists, although it has not yet been decided on how the fee will be charged.
Earlier this year plans for a 300 Baht (approx £6.55 / US$8.88) fee were announced designed to support projects requiring government initiatives and support or grants from local administrations.
The charge has now been increased to help fund projects initiated by the private sector, community enterprises, or social enterprises that would like to transform their business to meet the fund’s strategy; helping the country restructure from mass tourism to high-value or a bio-, circular and green economic model; and environmentally concerned tourism.
“The projects should be co-creations and the government should use the fund to support projects that can create an economic impact. The proportion of public-private financial support could be 50:50, 60:40 or 70:30, depending on how much we want to make those projects happen.”Yuthasak Supasorn, Governor Tourism Authority of Thailand (TAT)
Officials have been keen to emphasise that the fund is aimed at long-term financial growth and sustainable tourism and not to support business’ affected by the pandemic.
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