Thailand Aims To Stimulate Economic Growth By Introducing Golden Visa And Raising Passenger Service Fees

Thailand to implement Golden Visa and raise passenger service fees to spur economic growth. The Golden Visa is meant to attract rich foreigners who would also spend in the country not only to empower the economy but also the market in the country. The government seeks to increase GDP, lower public debt and stimulate domestic demand. At the same time, increased passenger service fees will create more revenue that will support tourism. Collectively, they form part of efforts to to revive sectors of importance and promote sustained economic growth.

A proposal has emerged to introduce a golden visa program in Thailand, aimed at attracting wealthy foreigners to become long-term residents. The program would encourage these individuals to make significant financial contributions in exchange for the right to live and purchase property in Thailand. This influx of foreign capital could help boost the country’s real estate sector and provide funding for education initiatives benefiting local citizens.

The golden visa scheme is seen as a potential driver for economic growth. The introduction of such a program would bring in fresh capital that could help reduce public debt and spur domestic consumption. Supporters of the scheme argue that this new money would be instrumental in stimulating various sectors of Thailand’s economy. The program would offer long-term benefits by attracting individuals with the financial means to invest in the country, thus aiding in the development of key industries and boosting economic activity.

Thailand has faced challenges in recent years with sluggish economic growth, averaging less than 2% over the past decade. The country’s reliance on exports and tourism has proven to be a double-edged sword, as global economic instability and shifting market dynamics have contributed to slower-than-expected growth. In particular, high household debt has put a strain on consumer spending, while tourist arrivals have also shown signs of slowing down. Projections for Thailand’s gross domestic product (GDP) growth in 2025 are modest, expected to range between 1.3% and 2.3%. The looming threat of a 36% tariff from the United States, Thailand’s largest export market, further complicates the situation.

As part of a broader economic revitalization strategy, there is also a call to increase passenger service fees at Airports of Thailand Plc (AoT) to generate additional revenue. The proposal suggests raising fees by as much as 300 baht (\$9.22) per passenger, which could potentially result in an additional 40 billion baht in annual revenue. This increase would represent a 40% hike in current passenger service charges, significantly boosting AoT’s earnings. The funds generated from this fee hike could be reinvested into improving AoT’s six major airports, enhancing facilities, and solidifying Thailand’s position as a regional aviation hub.

The long-term vision for AoT extends beyond airport management. Advocates for the fee increase argue that AoT should play a more prominent role in driving Thailand’s economy by establishing itself as a major aviation hub, a cargo center, and an aircraft maintenance base. These sectors are crucial to the growth of the economy, providing jobs, fostering international trade, and supporting the broader logistics and transportation industries. By increasing its operational capacity and generating new revenue streams, AoT could significantly contribute to Thailand’s economic development.

The stock market responded positively to these proposals. Shares in AoT rose by 11% in recent trading, marking their highest point since March. This surge followed reports that AoT plans to raise passenger service charges, landing fees, and introduce new transit and transfer fees. Investors have shown optimism about AoT’s ability to capitalize on these changes, signaling confidence in the company’s strategy to increase revenue while enhancing its role in the regional economy.

The Thai tourism industry is another area where immediate action is needed. The Tourism Authority of Thailand recently lowered its forecast for foreign tourist arrivals in 2025, reducing the target from 40 million to 35 million visitors. The revised estimate reflects a shortfall in Chinese tourists, who have traditionally been a major source of income for the Thai tourism sector. In the first half of 2025, only 2.3 million Chinese tourists visited Thailand, compared to 3.4 million during the same period in the previous year. Factors contributing to this decline include global uncertainties and increased competition from other destinations in the region.

In addition to the declining number of Chinese visitors, safety concerns have also affected Thailand’s tourism sector. A recent high-profile incident involving the kidnapping of a Chinese actor to Myanmar through Thailand has raised alarms about safety and security in the country. To mitigate these concerns and restore confidence among Chinese travelers, suggestions have been made to offer personal insurance for tourists. This measure would help ensure the safety of visitors and encourage them to continue choosing Thailand as a travel destination.

Thailand is introducing a Golden Visa to attract wealthy investors and raising passenger service fees to boost tourism revenue, both aimed at stimulating economic growth by driving GDP, reducing public debt, and enhancing domestic consumption.

Thailand has several problems in its economy, however, the initial signals like the golden visa plan to raise AoT’s passenger service fees have been initiated and these could be some light towards reviving growth as well as attuning with the economic problems. These tactics are meant to generate foreign investment, stimulate tourism and grow the aviation industry, all of which have the potential to breathe some much-needed life into Thailand’s economy. If they are actually able to pull this off, these measures could make the country to enter a new, richer, wheatear more than anything, more diverse in terms of industries that aren’t tied to the global economy’s ebbs and flows. The proposals are part of a pledge to tackle country’s challenges and capitalise on opportunities for long-term growth and stability.

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