Thailand’s steps towards legalizing gambling will greatly enhance foreign tourist arrivals, according to Omri Morgenshtern, CEO of Agoda, an Asia-focused online travel agency.
According to Reuters, Morgenshtern highlighted on Wednesday the potential of casinos and related attractions to invigorate the tourism sector in this economy heavily reliant on visitors.
The Thai government is planning to launch its first large-scale “entertainment complex,” which will feature a casino as part of its strategy to create jobs and attract more tourists and investments.
This initiative is one of the primary objectives of newly elected Prime Minister Paetongtarn Shinawatra, who is focused on increasing government revenue through mega-projects like entertainment complexes.
Morgenshtern noted that the allure of gambling often comes with a range of entertainment options, citing successful destinations like Macau and Las Vegas, known for their vibrant shows, diverse dining experiences, and luxury accommodations.
In addition to casinos, he emphasized the importance of family-friendly attractions, such as amusement parks and museums, pointing to Singapore’s Marina Bay Sands as a successful model. Morgenshtern also mentioned that casinos can help offset seasonal fluctuations in tourism, potentially increasing visitor numbers during off-peak times.
Tourism is vital to Thailand’s economy, which is the second-largest in Southeast Asia. The country recorded a 29 percent increase in foreign arrivals in the first ten months of this year compared to the same period last year.
Currently, while some forms of gambling are allowed, including state-run horse racing and a national lottery, illegal gambling remains widespread. Previous efforts to legalize casinos have faced significant opposition from conservative groups and parts of the public.
The Thai government argues that the lack of legal casinos is costing the country valuable tax revenue and tourism opportunities, especially as neighboring countries such as Cambodia, Singapore, the Philippines, Laos, and Myanmar have successfully developed large casino complexes.
In 2019, Thailand welcomed a record 39.9 million foreign visitors, generating approximately THB1.91 trillion ($56 billion) in revenue.
Thailand plans to double passenger capacity across six major airports by 2032, with an investment of at least THB97 billion ($2.86 billion) to support anticipated tourism growth.
