written and last updated by
Sam Smith at
26 Mar 2024
Journalist, Editorial Department
A special committee of the Thai House of Representatives has projected an additional revenue of 448.8 billion baht (approximately $12.5 billion) if casino resorts are legalized. This move is also expected to boost the country's GDP by 1.16%. The findings are detailed in a report that will soon be presented to Parliament.
According to the committee's research, average tourist spending could increase by 52% to 65,050 baht (around $1,800) per trip once casinos are operational in the country. Thai Prime Minister Srettha Thavisin is actively promoting policies to attract foreign direct investment. This, along with the report's data, may encourage the House of Representatives to introduce a bill to legalize casinos and other forms of gambling. Operators such as Galaxy Entertainment and MGM Resorts International are already exploring opportunities to enter this new market as a hedge against uncertain prospects in Macau.
The special committee is chaired by Deputy Finance Minister Julapun Amornvivat, who shared on social media platform X that the entertainment complexes in Thailand will not only feature casinos but also five-star hotels, restaurants, and other attractions. "The goal is to create a comprehensive entertainment venue and promote tourism in a new way, thereby increasing the country's revenue and addressing the issue of illegal gambling," Julapun noted.
Thailand has long attracted foreign visitors with its pristine beaches, architectural landmarks, and national parks. However, the government aims to more than double the number of tourists to 80 million by 2027. Currently, Thailand's economy is valued at $500 billion, with the tourism sector accounting for 12% of that figure.
In related news, a resident of Virginia recently won $1 million in the lottery, three years after previously winning $100,000.
