Bo Bernhard, the Vice President of Economic Development at the University of Nevada, Las Vegas, recently pointed out during his visit to Bangkok that Thailand could surpass Singapore as the new center of entertainment tourism in Asia if it develops integrated resorts under a strict regulatory framework.
Bernhard compared Thailand's current opportunity to Singapore's transformation in the early 21st century, when Singapore reshaped its international image by introducing integrated resorts like Marina Bay Sands. He believes that with Bangkok's mature infrastructure and aviation hub advantages, just two high-quality integrated resorts could surpass Singapore in terms of tourist spending and length of stay.
However, Thailand's progress in legalizing casinos is facing resistance. In April this year, the Move Forward Party government was criticized for rushing the legislation, and opposition MP Rangsiman Rome warned of the risks of inadequate regulation, citing the chaotic gambling industry in places like Myanmar as a cautionary tale.
The proposed bill stipulates that the gambling area must not exceed 10% of the total resort area, and Thai citizens must hold a six-month fixed deposit worth 50 million Thai Baht (approximately 1.36 million USD) to enter. Bernhard emphasized that top operators would only choose markets with strict regulations, and well-established "anti-money laundering" and "customer due diligence" systems are key to attracting international investments.
Economist Narongchai Akrasanee added that although Thailand welcomed 40 million visitors in 2019, the per capita spending was much lower than in Las Vegas. By developing high-end tourism services, significant economic benefits could be achieved. Bernhard warned that if Thailand cannot break away from traditional thinking and upgrade its tourism industry within the next decade, it may gradually fall behind in regional competition.
This view is supported by some scholars who believe that the integrated resort model can effectively extend the duration of stay and stimulate consumption, but they also call on the government to establish a transparent and fair regulatory system to avoid the industry chaos seen in neighboring countries like Cambodia due to lack of regulation.
Currently, the Thai government is refining the details of the bill, and the industry is looking forward to making the country another successful integrated entertainment tourism destination in Southeast Asia after Singapore.
