by wilbersuen | Jan 20, 2025 | News
Entertainment Complex Law: A Game Changer for Investment
The passing of the Entertainment Complex law could turn Khlong Toei in Bangkok and U-Tapao Aviation City into prime investment destinations. This legislative breakthrough sets the stage for creating world-class entertainment hubs, with the government keen to fast-track implementation.
The Cabinet approved the entertainment complex project on January 13, and just days later, former Prime Minister Thaksin Shinawatra announced a clear roadmap for advancing the law. A dedicated committee will be established next year to finalize regulations and bidding procedures for potential investors.
Key Criteria for Investment Locations
The selection process for entertainment complex sites will consider several vital factors. The government has outlined specific requirements:
- A minimum area of 300 rai (48 hectares).
- Robust infrastructure, particularly transportation networks.
- Proximity to major tourist attractions.
- State-owned land to ensure rental revenue for the government.
These standards aim to attract high-value investments and foster economic growth in strategically located areas.
Khlong Toei: A Mixed-Use Marvel in Bangkok
Bangkok Port in Khlong Toei offers an expansive 2,353-rai (376.4-hectare) area, making it an ideal candidate for an entertainment complex. The Port Authority of Thailand (PAT) has already proposed a Smart Port development plan to modernize the area. This ambitious project envisions:
- Residential developments for the Khlong Toei community.
- A free-trade zone under the Bangkok Port Free Zone.
- Shopping malls, convention centers, and duty-free facilities.
PAT Director-General Kriangkrai Chaisirivongsuk acknowledged the area’s potential but emphasized that any entertainment complex project must align with the PAT Act of 1951. This law mandates that the port’s land serves state and public purposes, primarily for logistics and port operations.
U-Tapao Aviation City: A Global Gateway
U-Tapao Aviation City, managed by U-Tapao International Aviation Co. Ltd., is another promising location for an entertainment complex. The area’s master plan includes:
- Shopping malls and luxury hotels.
- Duty-free zones and food courts.
- A Formula 1 race track to draw international visitors.
While current plans exclude a casino, U-Tapao’s potential remains immense. Bangkok Airways President Puttipong Prasarttong-Osoth highlighted that if the government legalizes casinos, U-Tapao would become a magnet for investors. This development would boost leasing opportunities and drive substantial private sector investment.
The Vision for Entertainment Complexes
These entertainment complexes aim to redefine Thailand’s tourism and investment landscape. Proposed facilities include:
- 4-5 star hotels with over 5,000 rooms.
- International conference and exhibition centers.
- State-of-the-art sports arenas and concert halls.
- Amusement parks, shopping centers, and event spaces.
- Casinos, occupying a limited area of the development.
By combining luxury accommodations, entertainment, and infrastructure, the government hopes to attract tourists and investors alike.
Strategic Advantages of Khlong Toei and U-Tapao
Both locations stand out due to their strategic advantages:
- Khlong Toei: Close to Bangkok’s central business district, with existing port infrastructure and connectivity.
- U-Tapao: Near Pattaya, a major tourist hub, and well-connected by air and road networks.
These factors position the two areas as frontrunners in the government’s entertainment complex initiative.
Khlong Toei and U-Tapao Aviation City are poised to become Thailand’s premier investment hubs following the Entertainment Complex law. Their strategic locations, combined with government-backed development plans, make them attractive options for investors seeking high returns.
As these projects unfold, they promise to transform Thailand into a global entertainment and investment powerhouse. Now is the perfect time for stakeholders to seize the opportunities that lie ahead.
by wilbersuen | Nov 19, 2024 | News
The Midfield Satellite Terminal 1 (SAT-1) at Suvarnabhumi Airport has been honored as one of the World’s Most Beautiful Airports for 2024 by Prix Versailles, according to Transport Minister Suriya Jungrungreangkit.
Prix Versailles, a global architectural competition endorsed by UNESCO since 2015, acknowledged six airport projects across five countries for their exceptional design and influence on travelers’ experiences. Alongside SAT-1, the recognized airports include:
- Zayed International Airport, Abu Dhabi, UAE
- Felipe Ángeles International Airport, Zumpango, Mexico
- Changi Airport Terminal 2, Singapore
- Logan International Airport Terminal, USA
- Kansas City International Airport, USA
The Prix Versailles awards celebrate excellence in contemporary architecture across multiple categories, including airports, campuses, passenger stations, sports venues, museums, retail spaces, hotels, and restaurants. The selection criteria align with principles of “intelligent sustainability,” considering ecological, social, and cultural impacts.
The six airports are now contenders for three global accolades – Prix Versailles, Interior, and Exterior – to be announced at UNESCO headquarters on December 2, Mr. Suriya added.
About SAT-1 Terminal
Opened in September 2023, the SAT-1 terminal spans 251,400 square meters of indoor usable space, with an apron area exceeding 260,000 square meters. Standing four stories tall with two underground levels, the terminal has increased Suvarnabhumi Airport’s annual passenger capacity from 45 million to 60 million.
Incorporating Thai architectural elements, Airports of Thailand (AoT) has adorned the terminal with traditional art from the country’s four regions. Visitors are welcomed by iconic installations, including statues of elephants and mythical creatures such as Kinnaree, Hemaraj, and Hongsa, located on the third floor. Traditional artworks also embellish the immigration area on the second floor, complemented by two Buddha statues positioned on raised platforms at opposite ends of the terminal.
Beyond its aesthetic appeal, SAT-1 prioritizes operational efficiency and environmental sustainability. Its 28 aircraft parking bays, linked by contact gates, enhance passenger convenience, while its automated water-saving toilet systems underscore eco-friendly innovation.
Minister Suriya described the terminal’s architecture as a harmonious blend of functionality, cultural identity, and designs that enrich passenger experiences.
Source: Bangkok Post
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The editorial team at Invest Bangkok Property
by wilbersuen | Nov 14, 2024 | News
The Ministry of Tourism and Sports has committed to registering unlicensed hotels within one year through a new regulatory draft, aiming to safeguard Thailand’s long-haul tourism market as the EU’s Carbon Border Adjustment Mechanism (CBAM) comes into effect in two years, enforcing strict environmental standards.
The ministry also seeks to bring a prominent global trade show, like the World Travel Market (WTM) Asia, to Thailand.
Tourism and Sports Minister Sorawong Thienthong noted that many small operators, especially unlicensed accommodations in smaller towns, lack awareness of sustainable practices.
Expected to curb emissions, the EU’s CBAM regulation—phasing in fully by 2026—places a carbon price on imported goods based on their production emissions. For Thailand, this regulation will impact EU tourists visiting the country, as service providers who don’t meet CBAM standards may incur higher tariffs, reducing Thailand’s competitive edge in tourism.
Minister Sorawong aims to expedite new regulations that can formalize unregistered operators, establishing a committee comprising MPs and private-sector representatives to discuss the draft before presenting it to parliament. The process is expected to conclude within a year.
“I am confident that all operators will want to register, as this will qualify them for government support in case of unforeseen events,” he said, adding that many tourists prefer registered accommodations.
Mr. Sorawong, alongside Tourism Authority of Thailand (TAT) executives and 42 Thai tourism businesses, attended WTM London 2024 from Nov 5-7, where they explored negotiations to host WTM Asia in Thailand in the future.
“Thailand is a leading global tourism destination but has yet to host a tourism trade fair of this scale,” Mr. Sorawong added.
According to Siripakorn Cheawsamoot, TAT Deputy Governor for Europe, Africa, the Middle East, and the Americas, the process could take two years to bring the event to Thailand. With the TAT’s pavilion at WTM London receiving an award for Best Stand Feature, showcasing local products and soft power, Thailand has a strong foundation for further discussions.
The TAT also plans to participate in ITB Berlin 2025, focusing on promoting Thailand’s secondary provinces. Local government officials will be invited to contribute content for this international stage.
The ministry’s 2025 tourism target is 40 million international arrivals, generating 2.4 trillion baht.
Source: Bangkok Post
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The editorial team at Invest Bangkok Property
by wilbersuen | Nov 13, 2024 | News
Agoda’s CEO sees casinos and similar attractions as major drivers for Thailand’s tourism growth, expressing confidence that the country could set a new record for international visitors next year.
The Thai government has announced plans for its first large-scale “entertainment complex,” which will include a casino as part of its strategy to generate employment, attract tourists, and draw investments.
“It’s about the experience beyond gambling—think of Macau and Las Vegas, which offer impressive shows, culinary delights, and world-class hotels,” Agoda CEO Omri Morgenshtern said on Wednesday in Bangkok.
He also emphasized the importance of theme parks, museums, and family-friendly attractions, citing Singapore’s Marina Bay Sands as a successful example.
Casinos operate year-round, which could help sustain tourism even during low seasons, Mr. Morgenshtern noted.
Tourism is a vital sector for Thailand’s economy, Southeast Asia’s second-largest, which saw a 29% increase in international arrivals in the first ten months of this year compared to 2023.
Efforts to legalize casinos in Thailand have faced resistance, with both conservative opposition and public concerns. However, the Pheu Thai government argues that the absence of legal casinos results in lost state revenue and missed opportunities to boost tourism. Neighboring countries such as Cambodia, Singapore, the Philippines, Laos, and Myanmar have successfully attracted tourism with large casino complexes.
In 2019, Thailand welcomed a record 39.9 million foreign visitors, generating 1.91 trillion baht in revenue. The government is now targeting 40 million arrivals and 3.4 trillion baht in tourism revenue for next year—a goal Mr. Morgenshtern believes is achievable, assuming stable global travel demand.
Agoda, headquartered in Thailand and Singapore and part of Booking Holdings, shares this optimism, noting that visa waiver programs and increased flight availability could help surpass 2019 arrival levels.
“Barring any unforeseen global events or local missteps, we have a good chance of exceeding Thailand’s previous tourism record,” he said. “Our data shows Thailand’s strong appeal, with around 46% of travelers visiting multiple times.”
Thailand is Agoda’s second-largest market for repeat travelers, after Japan, Mr. Morgenshtern added.
However, he expressed caution over the government’s planned electronic travel authorization (ETA) program, noting that, “Every fee or extra form can deter visitors, as people may decide not to visit if the process feels complicated.”
Source: Bangkok Post
Yours sincerely,
The editorial team at Invest Bangkok Property
by wilbersuen | Nov 12, 2024 | News
Thailand is setting an ambitious goal to attract 8 million European tourists in 2025, aiming to reach 11 million total long-haul visitors. The Tourism and Sports Ministry is committed to accelerating partnerships with airlines and foreign embassies to resume full international flight operations.
“Thailand’s tourism sector is poised for a vibrant future. We’re enhancing infrastructure, simplifying visa procedures, and developing new offerings to ensure Thailand remains a global leader in tourism,” said Tourism and Sports Minister Sorawong Thienthong at the 2024 World Travel Market in London, held from Nov 5-7.
Following the event, Minister Sorawong plans to engage with ambassadors from key markets, including the UK, Germany, Eastern Europe, and the Middle East, along with airline executives, to align on flight schedules and preparations for peak travel seasons in 2025.
The ministry also intends to collaborate with the Transport and Finance Ministries on airline support initiatives, such as fuel and tax subsidies, to boost tourism accessibility.
For 2024, Thailand anticipates 9.6 million long-haul arrivals, including 7.3 million from Europe, as per the Tourism Authority of Thailand (TAT). Next year’s expected 11 million long-haul visitors are projected to generate over 896 billion baht, contributing 40% of Thailand’s 2.2 trillion baht in foreign tourism revenue.
At the WTM, 42 Thai tourism operators joined the TAT pavilion to engage with long-haul markets, especially the UK and Europe, with TAT projecting at least 950 business meetings and an estimated economic impact of over 898 million baht.
Princess Ubolratana was also present to advocate for Thailand’s focus on sustainable tourism and cultural appeal.
Nithi Subhongsang, managing director of Nutty’s Adventures, a Thai destination management firm, noted that European travelers, especially small groups, remain core customers interested in local and sustainable travel experiences. He emphasized the importance of consistent policies supporting sustainable tourism and diversifying tourist destinations to manage crowding and boost local economies.
Sam Collins, UK product manager at Best at Travel, highlighted Thailand’s reputation for warm hospitality and value. In 2023, Best at Travel saw over 4,000 UK tourists visit Thailand, generating £8 million (351.8 million baht). He observed a shift in demand toward less-crowded locations such as Koh Lipe, Koh Samet, Koh Tao, and Khao Lak, rather than major hubs like Phuket and Samui. Collins urged the Thai government to invest in inter-city transportation, particularly rail, and increase direct international flights.
Korakot Chatasingha, THAI’s chief commercial officer, shared that the national airline is positioning Bangkok as a hub for European tourists visiting Asia. European routes are expected to contribute around 30% of the airline’s revenue this year, with flight frequencies rising to 91 per week by December, including a new route to Belgium. THAI’s load factor for European flights remains above 80%, and the airline, with 88 aircraft by 2025, aims to sustain its European routes with strong frequency, with London as the only destination offering first-class service.
Source: Bangkok Post
Yours sincerely,
The editorial team at Invest Bangkok Property
by wilbersuen | Nov 11, 2024 | News
Foreign investment in Thailand rose by 60% to reach 134 billion baht in the first nine months of this year, according to a government representative, with Japan remaining the leading source of investment.
Jirayu Houngsub, spokesperson for the Prime Minister’s Office, announced that approvals were granted for 636 foreign businesses under the 1999 Foreign Business Act, reflecting a 29% increase compared to the previous year.
These investments generated jobs for 2,505 Thai workers.
Japan led in investment volume and applications, contributing 74 billion baht across 157 applications, followed by Singapore with 12.2 billion baht (96 applications), China with 11.9 billion baht (89 applications), the United States with 4.14 billion baht (86 applications), and Hong Kong with 4.11 billion baht (46 applications).
“Key areas such as platform and software businesses have driven foreign investor interest, bolstering strong growth in the Thai economy,” said Mr. Jirayu, noting that these sectors accounted for 28.3 billion baht, or 7.27% of total foreign investment during the period.
The top three investor countries in platform and software sectors were Singapore, Taiwan, and Malaysia, respectively.
Source: Bangkok Post
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The editorial team at Invest Bangkok Property
