Thailand Unveils New Visa Initiatives to Boost Tourism and Investment

In a bid to revitalize its tourism industry and attract foreign investment, Thailand has introduced two new visa initiatives: visa-free travel for Indian tourists and a 10-year investor visa for businesses investing in the country’s Eastern Economic Corridor (EEC).

Visa-Free Entry for Indian Tourists

Effective November 10, 2023, Indian nationals can enjoy visa-free entry to Thailand for up to 30 days, a significant step that is expected to boost tourist arrivals from India.

This move is particularly timely, as India is currently Thailand’s fifth-largest source of tourists, with over 600,000 Indian visitors recorded in the first half of 2023 alone.

With the visa exemption program in place, Thailand anticipates a surge of at least 1.6 million Indian tourists in the coming months, providing a much-needed boost to the country’s tourism sector following the pandemic-induced slowdown.

10-Year Investor Visa for EEC Investments

Thailand’s EEC, encompassing three provinces in eastern Thailand – Chachoengsao, Chonburi, and Rayong – aims to foster economic growth and attract foreign investment. To further incentivize investment in the EEC, Thailand is introducing a 10-year investor visa.

Companies investing in the EEC will benefit from a work permit resulting in a 10-year visa, along with a flat income tax rate of 17%. This attractive package is designed to entice businesses seeking to establish themselves in Thailand’s modern and eco-friendly industries.

Encouraging Investments in Modern Industries

The investor visa program is strategically designed to entice companies interested in investing in modern and environmentally friendly industries. The initiative seeks to attract businesses that can bring in a range of professionals, from employees to specialists and executives, fostering economic growth in Thailand.

Companies opting for investment in the EEC will be granted a work permit, entitling them to a 10-year visa. Furthermore, participants in the program will benefit from a flat income tax rate of 17 per cent, creating an attractive and conducive environment for foreign businesses.

Conclusion

The introduction of these visa initiatives underscores Thailand’s commitment to reviving its tourism industry and attracting foreign investment. By simplifying visa procedures for Indian tourists and offering attractive incentives for investors, Thailand is positioning itself as a welcoming destination for both leisure and business travellers.

These measures are expected to contribute significantly to Thailand’s economic recovery and long-term growth, strengthening its position as a premier tourism and investment hub in Southeast Asia.