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Thailand is considering legalizing casinos as a strategy to boost its tourism industry.
As reported by the Bangkok Post, casinos are planned to be integrated into large entertainment complexes alongside hotels, convention centers, and amusement parks to attract wealthy tourists. Potential locations include Bangkok, Phuket,Chiang Mai, and Chonburi, home to the beach resort of Pattaya.
A draft of regulations allowing casinos with an initial 30-year license was published for public comment until August 18 by the State Council, the government's legal body. Casinos will have the option to renew their licenses for an additional 10 years.
Thailand is joining the UAE and Japan in competing for a share of the global casino industry, which, according to IBIS World, generated $263 billion in revenue last year.
Prime Minister Srettha Thavisin, who came to power less than a year ago, has been actively promoting a policy of attracting foreign investment and has supported the plan to legalize casinos for better oversight and proper tax collection.
Analytical studies have shown that Thailand could increase tourism revenue by approximately 12 billion baht (over $340 million) through the legalization of casinos.
In 2018, Thailand became the first country in Asia to decriminalize cannabis. Four years later, authorities allowed the cultivation of marijuana for personal use and the sale of hemp raw materials. In the same year, thousands of shops and pharmacies selling cannabis for medical purposes opened across the country. This move attracted a large number of foreign tourists to the country.
Even this year, there have been attempts to re-ban marijuana, but the interest in significant additional revenue from tourism is currently preventing the kingdom's authorities from taking this step.
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