The submit Agoda: Thai marriage equality law could boost annual tourist arrivals by up to 4 million appeared first on TD (Travel Daily Media) Travel Daily Media.
Digital journey platform Agoda’s newest research reveals how Thailand’s landmark marriage equality laws is ready to ship a further 4 million worldwide guests per yr inside two years of its enactment.
The stated laws additionally stands to improve tourism revenues by practically US$ 2 billion each year.
Agoda’s The Economic Impact of Marriage Equality on Thailand’s Tourism Industry research measures the projected financial alternative introduced by Thailand’s transfer to undertake marriage equality starting 22 January 2025.
As the primary jurisdiction in Southeast Asia to legalize same-sex marriage, and Asia’s third after Taiwan in 2019 and Nepal final yr, the initiative positions Thailand to seize a bigger slice of the worldwide rainbow tourism market, valued at over US$ 200 billion yearly.
Agoda vice-president of company growth and govt sponsor for Agoda Pride Timothy Hughes stated: “The LGBTQIA+ community is a powerful economic force with a strong appetite for travel. While already a popular destination for LGBTQIA+ travellers, this move is expected to further solidify Thailand’s reputation as an inclusive holiday option. At Agoda, we are excited to see the substantive economic impact that the influx of travellers will have on local businesses and communities. We will continue working with our local partners to deliver exceptional travel experiences for this community.”
Relevant findings
The report quantifies the projected trickle-down advantages of the legislative transfer to the broader Thai financial system.
It is estimated that, inside two years, the inflow of a further 4 million worldwide guests yearly could:
- boost tourism receipts by roughly USD2 billion every year—of which, round USD 0.7 billion would go to lodging, USD 0.4 billion to meals and beverage providers, USD 0.4 billion to retail spending, USD 0.2 billion to home transportation, with USD 0.2 billion throughout different areas together with leisure and medical providers;
- assist a further 152,000 FTE jobs, 76,000 immediately inside the tourism trade and an extra 76,000 throughout the broader Thai financial system, and;
- elevate Thailand’s Gross Domestic Product (GDP) by 0.3 p.c.
While Thailand is already established as a number one tourism vacation spot, this legislative growth is ready to bolster its attraction to LGBTQIA+ vacationers in search of welcoming locations, particularly as travellers worldwide show an growing choice for diversity-driven and inclusive journey experiences.
As solely the third market inside Asia to introduce marriage equality, Thailand is poised to change into a regional hub for LGBTQIA+ {couples} from neighbouring international locations who’re in search of to have a good time their union in a rustic that recognises same-sex marriage.
With many cities in Thailand already established as distinguished vacation spot wedding ceremony venues, the marriage equality laws could additionally boost Thailand’s wedding ceremony trade, together with constructive contributions into associated sectors like resorts, catering, and leisure.
The submit Agoda: Thai marriage equality law could boost annual tourist arrivals by up to 4 million appeared first on Travel Daily Media.
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