Thailand’s momentous decision to allow same-sex marriage is expected to enhance “rainbow tourism” by drawing four million additional visitors each year and generating almost $2 billion in revenue, according to travel portal Agoda.
The same-sex bill, which is set to go into force in January, will also generate 152,000 full-time equivalent employment and help boost the nation’s GDP by 0.3%, according to an Agoda-commissioned research published on Thursday.
Thailand became the first nation in Southeast Asia earlier this year to legalise same-sex marriage, and the third in Asia after Taiwan and Nepal. Under the new law, Thailand will recognize marriage registrations of same-sex partners aged 18 and above, along with their rights to inheritance, tax allowances and child adoption, among others. It’s seen as a win for LGBTQ activists, who have fought for over a decade for the same rights to marry as heterosexual couples.
Thailand is well-positioned to acquire a greater share of the worldwide LGBTQ tourism industry, which constitutes for 10% of all travelers and is worth more than $200 billion each year, according to Agoda, a subsidiary of US-based Booking Holdings Inc. Many Thai towns might become popular wedding destinations, strengthening the country’s wedding business as well as allied industries like accommodation and catering.
Thailand is one of around 40 nations in the world that offer equal marriage rights. The country stands out in Southeast Asia for making little progress in recognizing the rights of the LGBTQ minority, which experiences frequent persecution.
Tourism is a key growth driver for the Thai economy, the second-largest in Southeast Asia. About 30 million tourists have visited the country so far this year, on course to meet the government’s full-year target of 36.7 million. In 2019, Thailand saw record foreign arrivals — almost 40 million — which generated $60 billion in revenue.
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Source: Business Standard
