Casinos and related attractions would significantly increase the number of foreign visitors to Thailand, an executive at Asia-focused online travel agency Agoda said on Wednesday, as the tourism-dependent country moves closer to legalizing gambling (link).
Thailand plans to develop its first major “entertainment complex”, which will include a casino, to create jobs and attract more tourists and investment.
“Just think of Macau and Las Vegas, where there are usually crazy shows, food and great hotels,” Omri Morgenshtern, chief executive of Agoda, told Reuters.
Amusement parks, museums and children’s activities are also important, he said, pointing to Singapore’s Marina Bay Sands as an example.
Casinos are also not seasonal and can increase visitor numbers in the off-season, Morgenshtern added.
Tourism is a key driver for Southeast Asia’s second-largest economy, which recorded 29 percent more foreign visitors in the first ten months of this year than in the same period in 2023.
In Thailand only some gambling is allowed, such as: There are state-controlled horse races and an official lottery, but underground activity is widespread. Previous attempts to legalize gambling have faced opposition from conservatives and the public to opening casinos.
The government argues that the lack of legal casinos in Thailand means the country is missing out on government revenue and a significant boost to tourism. Thailand’s neighbors Cambodia, Singapore, the Philippines, Laos and Myanmar have benefited from large casino complexes.
In 2019, Thailand recorded a record 39.9 million foreign arrivals, generating 1.91 trillion baht ($55.98 billion) in revenue
The government is targeting 40 million foreign arrivals and 3.4 trillion baht in tourism revenue next year, a target Thailand could achieve if global travel demand remains healthy, according to Morgenshtern.
Agoda is based in Thailand and Singapore and is a unit of online travel giant Bookings Holdings BKNG.
(1 Dollar = 34.1200 Baht)
