Thailand’s foreign arrivals may see a new record being set in the future, with travel industry leaders like Agoda’s CEO Omri Morgenshtern seeing the development of casinos as a game changer in boosting tourism for Thailand, according to a Bangkok Post report.
As the Thai government looks at attracting more tourists and investments into the country, much attention has been given to the development of Thailand’s first large-scale entertainment complex, which includes plans for a casino.
Alluding to the success of the region’s integrated resorts such as Singapore’s Marina Bay Sands, Morgenshtern commented that the associated offerings such as shopping, performances, culinary attractions and hospitality all combine to create an enticing experience for tourists.
Morgenshtern also said the Thai government’s target of 40 million arrivals next year and 3.4 trillion baht in tourism revenue was achievable if global travel demand remained healthy.
While previous attempts to legalise gambling in Thailand have been unsuccessful, the fact that casinos present a significant source of state revenue and tourism demand are due considerations.
Thailand is perceived to have fallen behind its neighbours in Southeast Asia, where countries such as Cambodia, Singapore, Myanmar, and the Philippines have legalised casinos, with several situated just across Thailand’s borders. These establishments primarily cater to Thai and Chinese customers, many of whom visit for weekend getaways.
According to a report by the British Chamber of Commerce, Thailand’s first legal casino could open by 2029. Planned large-scale "integrated entertainment complexes" in the Eastern Economic Corridor, Phuket, and potentially two additional locations in Bangkok could attract more than US$10 billion in foreign investment.
This influx is expected to create jobs, generate significant revenue, and provide a substantial boost to tourism. In total, the kingdom may issue between five to eight licenses for these entertainment complexes.