Thailand Looks to Legalize Casinos in Latest Effort to Win Back Tourists

August 10, 2022 Thailand Emerging Markets

As Thailand pulls out all stops to woo tourists, the number one tourism destination in Southeast Asia pre-pandemic is clearly feeling like it may lose out to its neighbors if it doesn’t roll the dice.

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If you wanted to see a copybook example of leaving no stone unturned, Thailand would be it. In an all-out effort to lure tourists back after the Covid pause, the country recently decriminalized cannabis and is now looking to open casinos. A recommendation received by the Thai parliament last month sought that the government allow “entertainment complexes,” including legal casinos, to be built in key cities across the country. With huge inflows of tourism infrastructure investment expected in Southeast Asia over the next few years, especially in growth markets with the largest potential, such as Indonesia and Vietnam, Thailand might be going through a fear-of-missing-out experience, suggested Gary Bowerman, director of Check-in Asia, an Asia-focused travel intelligence and research firm. Thailand wants to show it can diversify its travel and tourism sector to attract new investors, Bowerman said. “Intense competition is taking shape to entice investors and tourists to help rebuild economies across the region. This will be a central part of the region’s economic narrative over the coming years.” Integrated Resorts Market in Asia The integrated resort market that brings together hotels, casinos, convention facilities, dining, entertainment shows, luxury retail and themed attractions, is already quite crowded in Asia.