Casinos could be game changer for Thailand’s tourism industry, says Agoda CEO
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In Thailand, only some gambling is permitted, such as an official lottery.
PHOTO: REUTERS
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BANGKOK – Casinos and related attractions would significantly boost foreign arrivals to Thailand, a top executive at the Asia-focused online travel agency Agoda said on Nov 6, as the tourism-reliant country moves closer to legalising gambling.
Thailand is planning to develop its first large scale “entertainment complex” that will include a casino
“It’s the experience around gambling – think about Macau and Vegas, usually it comes with crazy shows, food and amazing hotels,” Agoda chief executive Omri Morgenshtern told Reuters.
Amusement parks, museums and activities for children were also important, he said, referring to Singapore’s Marina Bay Sands as an example.
Casinos also do not have seasonality and can boost visitor numbers in the low season, Mr Morgenshtern added.
Tourism is a crucial driver of South-east Asia’s second-largest economy, which has seen 29 per cent more foreign arrivals in the first 10 months of 2024 compared with the same period in 2023.
In Thailand, only some gambling is permitted, such as state-controlled horse races and on an official lottery, but underground activity is rife. Previous attempts to legalise gambling have hit walls, with conservative and public opposition to opening casinos.
The government has argued that the absence of legal casinos in Thailand means the country is missing out on state revenue and a significant boost in tourism. Thailand’s neighbours, Cambodia, Singapore, the Philippines, Laos and Myanmar have benefited from large casino complexes.
In 2019, Thailand booked a record 39.9 million foreign arrivals, who generated 1.91 trillion baht (S$74 billion) in revenue.
The government is targeting foreign arrivals of 40 million in 2025 and 3.4 trillion baht in tourism revenue, a target Mr Morgenshtern said Thailand could reach if global travel demand remained healthy.
Agoda is based in Thailand and Singapore, and it is a unit of the online travel giant, Bookings Holdings. REUTERS
