Chulaphan Amornvivat, the Deputy Minister of Finance of Thailand, recently announced that the government is accelerating the legislation of the "entertainment complex" with the goal of making Thailand one of the top three global entertainment cities within the next five to ten years, alongside Las Vegas and Macau.
Chulaphan pointed out that although Thailand has always been a world-class tourist destination, the average spending per tourist has not yet recovered to the desired level after the pandemic. Therefore, the government plans to attract high-end tourists and international investments by constructing a large-scale "entertainment complex" project that combines tourism, leisure, and casinos, stimulating hundreds of billions of Thai baht in economic vitality.
The bill has been approved by the cabinet and is scheduled to be included in the agenda for review during the House of Representatives session from July 3 to October 30 this year. Once the legislation is passed, the Prime Minister will directly lead a special committee to oversee the project development and establish an independent regulatory body and investment evaluation mechanism to ensure efficient and high-standard operations.
Striving for the golden legislative period to capture global capital attention
Chulaphan stated that with only two years left in the current government term, it is crucial to complete the legislation during this session to seize the key moment for global capital layout. He revealed that several international investors have expressed high interest, and the project is expected to bring in 39 billion Thai baht in direct revenue annually and contribute about 0.8% to GDP growth.
Casinos as the core engine, tourism all year round without off-season
The Ministry of Finance and Sukhisit Srithongkham, Deputy Secretary-General to the Prime Minister, further noted that legal casinos are the "core attraction" of the entertainment complex. Compared to standalone sports stadiums or cruise ports, this project will create a year-round tourism consumption model and include high-end facilities such as health and wellness centers, F1 racing tracks, and luxury cruise terminals.
The policy is expected to increase the average spending per tourist to 22,300 Thai baht, with an annual tourist growth rate of 5% to 20%, and an increase in off-season tourists by up to 13%. The government also plans to include casinos in a real-name registration system, behavior tracking mechanism, and responsible gambling management to ensure compliance and safety.
The construction phase will prioritize the use of local building materials and human resources, driving domestic demand and employment, and is estimated to bring in an additional 100 billion to 200 billion Thai baht in tourism revenue annually, approximately 6.1 billion USD.
The global industry scale reaches up to 54 trillion Thai baht
According to data from KhaoSod, the global entertainment complex market currently has an annual output value of 54 trillion Thai baht (approximately 1.66 trillion USD). Entertainment projects in countries like Singapore, Vietnam, and South Korea generate significant economic benefits each year. If Thailand successfully enters this market, it could become a new entertainment investment hub in Southeast Asia.
