Thai IRs could boost GDP by 0.8%, deputy finance minister says
Julapun Amornvivat said an entertainment complex with a casino could generate between THB12.04bn and THB39.25bn in annual state revenue.
Thailand.- Deputy finance minister Julapun Amornvivat has said that integrated resorts (IR) could boost Thailand’s gross domestic product (GDP) by 0.8 per cent annually. The government predicts that entertainment complexes with casinos could generate between THB12.04bn (US$353m) and THB39.25bn (US$1.15bn) a year for the state, including taxes from hotels and theme parks.
Speaking at a press conference, Amornvivat said the country needed a new economic driver and that casino and entertainment complexes could transform the tourism and service sectors, attracting more international visitors. He forecast at least THB100bn (US$3bn) in new investment and said foreign tourist arrivals could increase by up to ten per cent.
Amornvivat said the government had held multiple hearings with various sectors to listen to concerns and answer questions.
Suksit Srichomkwan, deputy secretary-general of the prime minister, added that the service sector was crucial for tourism, accounting for around 18 per cent of GDP. He said that, although tourism is recovering, the country needed to encourage longer stays and boost tourist spending. He said the legalisation of casinos could create 9,000–15,000 jobs and help small and medium-sized businesses.
The government delayed discussion of the casino bill until the next parliamentary session, which starts on July 2.
