BANGKOK – The Department of Trade Strategy (DS) of the Ministry of Commerce has assessed the economic benefits that Thailand could derive from its same-sex marriage law. They suggest the government make Thailand a hub for all-gender weddings in Asia by highlighting Thailand’s legal readiness, excellence in organizing weddings and related business services.
The Ministry of Commerce refers to a study by the William Institute in the USA. The study found that the nationwide legalization of same-sex marriage in the USA boosted the economy by 3.8 billion dollars between 2015 and 2019.
This amount includes an estimated 3.2 billion dollars spent by same-sex couples on weddings, 543.8 million dollars on travel by wedding guests and 244.1 million dollars in tax revenue from weddings. It also created 45,000 new jobs.
The DS has identified several businesses they believe will flourish due to same-sex marriage. These include hotels and wedding-related businesses. Wonders and Weddings, a Thai wedding planning company, predicts a surge in wedding bookings, with LGBTQIA+ couples accounting for 25 percent of total bookings.
Weddings are a significant milestone in many people’s lives, and LGBTQIA+ individuals are no exception. According to IPSOS, a global market research and consulting firm, 9 percent of Thailand’s population identifies as LGBTQIA+. This growing demand for celebrations is fueling the growth of the hotel and wedding-related industries. Thailand’s diverse range of services, tourist attractions, natural beauty, culture, and history make it an ideal destination for weddings.
Other businesses that could benefit from same-sex marriage are: Insurance and financial services, family planning and counseling services, entertainment and leisure businesses: BL dramas, which often feature LGBTQIA+ characters, have brought significant revenue to Thailand.
Same-sex marriage could further increase demand for this type of content and related merchandise. Hosting a World Pride event also presents an opportunity that could bring significant tourism and revenue streams to Thailand.
If Thailand’s same-sex marriage law extends to allow foreigners to register their marriages, the government should consider streamlining the registration process, particularly regarding paperwork, visas, and processing times. Additionally, supporting the development of high-quality wedding services will enhance the overall experience for foreign couples and promote Thailand as a premier LGBTQIA+ wedding destination.
