Thailand’s LGBTQIA+ boom to boost economy by 152 billion baht
Thailand’s LGBTQIA+ community is fast becoming an economic force to be reckoned with, with a new study projecting a 152 billion baht boost to the nation’s GDP this year, fuelled by local spending and a surge in LGBTQIA+ tourism.
According to research from Mahidol University’s College of Management (CMMU), more than 5.9 million LGBTQIA+ persons, around 9% of Thailand’s population, are driving a new wave of economic growth.
Prasert Thanatchoktawee, an advisor to CMMU’s marketing programme, revealed the findings of their latest study, Love Wins Marketing: Decoding LGBTQIA+ Consumer Insights in the Era of Marriage Equality.
Following the passage of the Equal Marriage Act earlier this year, Thailand is expected to welcome four million LGBTQIA+ tourists, contributing significantly to the economy and raising GDP by 0.3%. With Thailand ranked among the most LGBTQIA+ friendly destinations globally, this figure is set to rise even further.
Key insights from the study paint a detailed picture of this vibrant and valuable demographic:
Marriage & honeymoon dreams
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56.1% of LGBTQIA+ persons wish to hold a wedding ceremony.
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Hotels are the preferred venue for 48.7%, especially among Gay Gen Z.
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Most favour medium-sized weddings with budgets between 300,000 and 500,000 baht.
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A lavish 4.7% plan to spend over 1 million baht.
Travel trends
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Over half (51.8%) plan a honeymoon post-wedding, favouring luxury stays in Asia.
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Annual travel budgets hover between 20,000 and 50,000 baht, with Gay Gen Y leading spending habits.
Family and financial planning
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54% aim to have children within two years of marriage, with options such as IVF and surrogacy gaining popularity.
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Property ownership is a top priority, with average budgets ranging between 3 and 5 million baht.
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Financial goals vary: lesbians focus on home ownership, while gays prioritise vehicles and gender-affirming procedures.
Health, insurance, and consumer behaviour
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48.6% allocate 10,000–30,000 baht annually to insurance.
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Mental health, sexual wellness, and gender-affirming care are major considerations.
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77% of LGBTQIA+ consumers prioritise price and quality, with brand loyalty hinging heavily on inclusivity and support for LGBTQIA+ rights.
As Thailand rides this rainbow wave of economic potential, businesses and policymakers are being urged to embrace the growing power of the LGBTQIA+ market, or risk being left behind, reported The Nation.
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