Thailand
Former Prime Minister Thaksin Shinawatra has proposed the introduction of a golden visa scheme to attract wealthy foreigners as long-term residents, alongside an increase in passenger service fees, aiming to revive Thailand’s sluggish economy.
Speaking at the “Unlocking Thailand’s Future” conference hosted by MCOT Plc on Thursday evening, Thaksin suggested that a golden visa scheme could potentially inject funds equivalent to Thailand’s US$500 billion economy. He envisioned attracting 600,000 individuals, each depositing significant sums for the visa in exchange for property ownership rights in Thailand. This, he said, would greatly benefit the real estate sector while funding education for Thai citizens.
“It will drive GDP growth, reduce public debt, and spur domestic consumption,” Thaksin emphasised. “It’s new, fresh money, and so worth pursuing.”
Thailand’s economy, which relies heavily on exports and tourism, has expanded at an average of under 2% over the past decade, trailing other major Southeast Asian economies. Analysts project GDP growth of 1.3% to 2.3% in 2025, limited by high household debt and slowing tourist arrivals. Furthermore, the economy faces potential risks from a 36% tariff imposed by the United States, its largest export market.
In addition to the visa proposal, Thaksin called on Airports of Thailand Plc (AOT) to increase passenger service fees by up to 300 baht ($9.22) per passenger, representing a 40% hike from current levels. He stated that this measure could generate an additional 40 billion baht in annual profit, which would be used to upgrade AOT’s six airports.
“AOT should be an economic driver as an aviation hub, cargo centre, and aircraft maintenance centre, which can drive the economy much further,” he noted.
Thaksin highlighted that these proceeds could transform Thailand into Southeast Asia’s premier aviation hub, while boosting related industries such as cargo and aircraft maintenance services.
Following local newspaper Kaohoon’s report on AOT’s plans to increase passenger service charges, landing and parking fees, and start collecting transit and transfer fees, AOT shares surged by 11%, closing at their highest since March.
These proposals come at a crucial time as Thailand seeks new avenues for economic revival and competitiveness in the region.
