NBTC states that marriage is an equal opportunity to grow the Thai service business.

The Office of Trade Policy and Strategy or the Office of Trade Policy and Strategy has revealed that equal marriage will be an opportunity for Thai service businesses. such as hotel business and businesses related to wedding organization, including photography studio businesses Wedding dress rental business As marriage rights increase the demand for wedding celebrations, there is definitely room for growth in these businesses. Mr. Poonphong Naiyanaphakorn, Director of the Trade Policy and Strategy Office or TNOC, said that on March 27, 2024, the Thai House of Representatives passed a resolution approving the equal marriage bill and on April 2, 2024, the Senate meeting There was a resolution to accept the principles of the first session of the equal marriage law and there was a resolution to set up a special committee to consider and study the draft law. If Thailand has an equal marriage law, it will help expand marriage rights to cover people of all genders so that they can marry legally and support diverse gender groups to receive equal benefits and welfare as male couples. female And Thailand will become the 37th nation in the world and the first in ASEAN to have equal marriage laws. The passage of Thailand's equal marriage law In addition to helping raise the level of gender equality in Thailand It also brings economic benefits. Especially service businesses in various fields. From a study by the research institute The William Institute in the United States, it was found that after the United States Enforcement of equal marriage laws across the country between 2015 and 2019 helped stimulate the economy by US$3.8 billion. (Based on approximately $3.2 billion spent by same-sex couples on weddings Wedding guest travel spending: US$543.8 million and income from wedding tax collection of 244.1 million USD) In ??addition, it will help create employment in related businesses, increasing to 45,000 people. There are many service businesses that will have the opportunity to grow from the equal marriage law, such as Ho tel business and wedding related businesses such as photography studio business Wedding dress rental business Marriage rights will increase the demand for wedding celebrations. Thai wedding planning service company Wonders and Weddings predicts that wedding bookings will increase. LGBTQIA+ wedding bookings will account for 25 percent of total bookings. A wedding is a celebration of an important milestone (milestone) in many people's lives. LGBT people also want to celebrate this important moment. According to IPSOS, a multinational market research and consulting company, 9 percent of Thailand's population identifies as LGBTQIA+. The increasing demand for celebrations has resulted in businesses Hotels and wedding-related businesses have grown significantly. to seize the opportunity from having equal marriage laws Thailand should push to become a center for weddings for all genders in Asia. Due to readiness in the legal field Excellence in organizing events and related service businesses in Thailand and having a variety of tourist attractions both natural culture and history It is ideal as a location for weddings and honeymoons. This will help generate a lot of income for Thailand. However, if Thailand's equal marriage law covers allowing foreigners to register their marriages. The government sector must consider facilitating marriage registration. Especially regarding visa documents and processing time. and supporting service businesses involved in organizing weddings to have standards and quality To create a good impression and experience for foreign couples. To help promote Thailand as a popular destination for LGBTQIA+ couples around the world to get married. Travel and restaurant business Having equal marriage laws will help attract specific groups of tourists. Especially the LGBTQIA+ group when traveling to Thailand, which is a friendly travel destination. Data from the World Travel and Tourism Council indicate that the proportion of LGBTQIA+ tourists represents 10 percent of tourists worldwide. And the tra vel expenses of this group of tourists account for 16 percent of the total travel expenses. or approximately 195 billion US dollars per year. This group of tourists is considered to be tourists with high purchasing power. like to travel Experience a variety of experiences. Therefore, having supportive laws and a friendly social environment will show acceptance and respect for the LGBTQIA+ group. As a result, this group of tourists will feel safe and be more interested in traveling in Thailand. Insurance business and financial business It is another service business that will grow even more. Marriage equality laws have supported gay couples to have the right to take care of their lives as partners. The right to manage the property of a spouse Having legal representation and being able to inherit from your spouse allows LGBTQIA+ couples to get life insurance for each other and be beneficiaries. or create stability as a family, such as borrowing money to buy a house together Joint ownership of property Being ce rtified by the government will help build trust in the insurance and financial services industries more easily. As a result, such businesses are likely to grow from the need for insurance or creating a family or business with a couple. There is also an opportunity for growth in other niche businesses, such as counseling and family planning businesses for mixed-gender couples. Businesses related to entertainment and recreation Especially the Y series which generates a lot of income for Thailand and can also include culture Thai products and services are very good. Make Thailand known in the world market Including the opportunity to host the world-class festival World Pride, which will create a good image of Thailand at the international level and generate enormous income in Thailand's tourism and related service businesses. This equal marriage law will play an important role in generating economic income for Thailand. and has an additional role in pushing the Thai economy, especially the service sector, to g row to its full potential. The LGBTQIA+ consumer group is a potential consumer group with high purchasing power. Thailand can use this opportunity to develop the Thai service sector to target different target groups. and enhance the competitiveness of the Thai service sector through the LGBTQIA+ consumer market.-514- Source: Thai News Agency