Category: The Bangkok Post

Thailand should set an ambitious target of 45-60 million arrivals by the period of 2030 to 2035, pushing stakeholders to cooperate and keep pace with fast-growing Asia-Pacific tourism, says Galaxy Resorts Thailand.

“It’s not unthinkable to achieve those numbers with the right plan and growth strategy, as Asia-Pacific is the fastest growing tourism region worldwide and Thailand stands at the centre of that region,” said Kevin Clayton, chief brand officer of Galaxy Resorts Thailand.

Earlier this month, Tourism and Sports Minister Artthakorn Sirilatthayakorn said Thailand was no longer a “tourism giant” as he urged related stakeholders to adjust their working mindset.

Mr Clayton said foreign arrivals to Thailand this year are likely to number 33 million, below the pre-Covid level in 2019.

Having an ambitious target would make related tourism bodies and stakeholders become more progressive and inventive in working to achieve the goal, he said.

Although Thailand is known for its tourism assets such as hospitality, street food, beaches and historical sites, these are insufficient to drive the industry in the current context, said Mr Clayton.

Several recurring issues must be addressed, including ensuring safe travel, accessibility, digital marketing upgrades and curating unique experiences to target high-spending tourists, he said, which requires the right partnership between the public and private sectors to drive tourism forward.

ENTERTAINMENT TOURISM

As Thailand’s entertainment complex bill was shelved because the current government does not support it, Mr Clayton said Galaxy Resorts Thailand remains patient about its expansion in the country.

“When the new government is formed, hopefully there can be a process to advance thinking around integrated resorts. We would be more than happy to participate in that process,” he said, noting that man-made attractions can be a key supplement to Thai tourism.

Japan, the United Arab Emirates, the Philippines and Singapore are expecting new or expanded integrated resorts over the next few years, which will intensify competition in the region, said Mr Clayton.

Global entertainment tourism is estimated to tally US$267 billion by 2030, he said.

“If Thailand plans to compete with other countries in Asia, it needs to think through how it can headline major events and offer new man-made attractions,” said Mr Clayton.

Earlier this month, Galaxy Resorts brought Jackson Wang’s “Magicman 2” World Tour to Thailand.

The concerts spanned two days at Impact Arena and were sold out, with an audience of more than 24,000, underlining Thailand’s place as a top entertainment destination.

The company also supports Jackson Wang concerts at Galaxy Arena at Galaxy Resorts Macau.

The Macau resort comprises nine hotels featuring more than 5,000 rooms, suites and villas, with roughly 16% of its revenue derived from the non-gaming segment.

Regarding Thailand’s 300-baht tourism tax scheme, which the tourism and sports minister plans to revisit, Mr Clayton said such a fee is already implemented at other destinations.

Before levying this fee, he said several factors should be considered, such as the collection method and timing to avoid denting traveller sentiment.

The government should also ensure the fund will be used effectively for insurance and infrastructure improvement, said Mr Clayton.

The explosive revelations and allegations of regional cybercrimes and scam networks have hit Thailand head-on and placed the government of Prime Minister Anutin Charnvirakul in an awkward and defensive position. As more facts surrounding what looks like a labyrinthine cross-border multibillion-dollar transnational criminal ring come to light, more questions have surfaced with no clear answers. The Anutin government needs to come clean and avoid a “scam-gate” of cover-ups and lies at the expense of countless scammed victims across many countries.

Among the many questions and issues that have been raised, first and foremost is the role and possible involvement of senior government officials. That Deputy Finance Minister Vorapak Tanyawong has resigned in the wake of allegations linking him to BIC Bank in Cambodia, founded by controversial Cambodian businessman Yim Leak, only leads people to ask valid questions. What was the nature of Mr Vorapak’s relationship with Yim Leak?

And then there is the question of governance standards and equality under the law. Srettha Thavisin, the prime minister in 2023-24, was ousted by the Constitutional Court for ethical misconduct for a minor cabinet reshuffle involving a junior minister who had been convicted and jailed for six months on bribery charges. Pichit Cheunban, the junior minister in question, resigned as soon as the controversy came to light, but prosecution still proceeded and led to Mr Srettha’s removal on “morality and ethics” in Section 258 of the 2017 Constitution enacted during the military government.

Although Mr Vorapak has quit the government, should he still face misconduct investigations? If the same morality and ethics standards are applied to Mr Vorapak’s case with equally vigorous prosecution of constitutional requirements, should Mr Anutin not come under similar scrutiny?

These are uneasy questions that will likely be left unattended. When under a critical spotlight and faced with alleged wrongdoings, the powerful and privileged everywhere tend to feign innocence and ignorance in equal measure and issue repeated denials. In Thailand, they go further by threatening and actually launching lawsuits, often known as SLAPP, or Strategic Lawsuits Against Public Participation.

Because the justice system and judicial odds have become stacked against truthtellers, muckrakers, and whistleblowers, silence and self-censorship tend to prevail to the benefit of wrongdoers. People become tame and timid out of fear for good reason because truth-tellers have demonstrably suffered in the recent past. One glaring case was a senior police officer who went after human trafficking in the deep South only to be hounded by underworld bosses and chased into asylum in Australia.

In view of scam centres, associated fraud, trafficking, drugs, and money-laundering among cyber-criminal networks, it should be open season for investigative journalism. Muckraking can be a great challenge for professional achievements and good business for daring journalists. In this case, Thailand’s media professionals have been disappointing and shameful for not asking hard and probing questions for the public interest. Instead, intrepid journalism came from outside, a former reporter with the Wall Street Journal. In addition, stalwart MPs of the opposition People’s Party have had to conduct investigative journalism in exposing shady dealings among cybercriminals.

It is a worrying trend that Thailand’s oversight and checks-and-balance agencies and institutions are not doing their jobs. Where are Thailand’s Anti-Money Laundering Office, Anti-Corruption Commission, and Auditor General’s Office? When it was their cue to go after political parties and politicians, they seemed keen and eager. But now we are likely to see a glacial pace and perfunctory pursuits of criminal wrongdoing.

Given the ongoing Thai-Cambodian border dispute, Mr Anutin appears to have been currying nationalist sentiments for political advantages, possibly for electoral gains ahead of the planned poll next year. Here is an opportunity to paint Cambodia as the culprit country and vortex of a global underworld beset with criminal scammers, money-launderers, human and drug traffickers, online betting agents, and transnational criminals of all stripes. But Mr Anutin seems less than enthusiastic. Even though he has lately pledged to crack down on these transnational crimes, it bears scrutiny whether any big fish will be caught or whether he will buy and bide time in the hope of letting the scandal quieten and blow over.

To be sure, what we are seeing with Mr Vorapak’s resignation and denial involving Yim Leak and BIC Bank may be just the tip of the iceberg. The backdrop of scam networks has other controversial figures, such as Chen Zhi, who is chairman of the Prince Group and Hun To of Huione Group, along with Benjamin Mauerberger, allegedly the key conduit among these criminal gangs. The Thai connections to these obscure figures and business outfits likely extend wide and deep.

The United States Treasury Department has already frozen nearly 500 billion baht of the Prince Group’s and Mr Chen’s crypto and other financial assets on cyberfraud, human trafficking and money laundering charges. The United Kingdom has similarly taken over the real estate assets of Mr Chen. The key country in this mix is South Korea, and its sanctions on Cambodia-based online scam networks. The South Korean government has explicitly stated that it will deploy all means necessary to rescue and safeguard its citizens who have been duped and harmed by scammers based in Cambodia.

Without South Korea, the US and UK could be dismissed for being part of some Western conspiracy against Cambodia. But South Korea is a country that Southeast Asians deeply respect and want to be like. Seoul’s intervention is what’s needed to maintain pressure and ensure further exposure and prosecution.

But the current Thai government seems to want this kind of pressure to go away. That the Prince Group has reportedly rented space from the prime minister’s Sino-Thai office building does not bode well. If Mr Anutin does not own up to all that Thai officials and businesspeople have to do with the expanding trail of corruption, fraud, and transnational criminal networks, his government’s longevity could be at risk and even end up shorter than the short four-month timeframe.

Thitinan Pongsudhirak, PhD, is professor at Chulalongkorn University’s Faculty of Political Science and a senior fellow at its Institute of Security and International Studies in Bangkok.

Thai actress Chermarn “Ploy” Boonyasak has spoken publicly for the first time about her battle with stage 2 breast cancer and subsequent mental health crisis, describing the past year as the most difficult of her life.

In an interview on the Sisterhood podcast on Mirror Thailand’s YouTube channel, Ploy revealed she was diagnosed with stage 2 breast cancer that had spread to her lymph nodes after delaying a follow-up appointment for 18 months due to a fear of needles.

The diagnosis coincided with severe personal and financial difficulties. Combined stress and oestrogen-suppressing medication triggered a mental health breakdown. Ploy lost 13 kilogrammes in three months, experienced memory loss, severe depression, and panic attacks. At her lowest, she engaged in self-harm and required psychiatric hospitalisation.

She underwent breast-preserving surgery followed by 25 radiation sessions. Doctors opted against chemotherapy, prescribing hormone-blocking medication instead, which she continues to take. She kept her diagnosis private, only telling close friends after surgery.

Now recovering, Ploy has regained 8kg and exercises four days weekly. Recent health checks show no abnormalities. She has eliminated processed foods from her diet and adopted healthier lifestyle habits.

Speaking during Breast Cancer Awareness Month, Ploy encouraged others to prioritise self-love, reflecting that her goal now is to love herself as much as she once loved others. She attributes her cancer partly to irregular eating, excessive red meat consumption, late nights and high stress, acknowledging she is still healing but has regained her sense of self.

Property firm Capstone Asset Co is capitalising on momentum in Phuket and the emerging Phangnga market, with plans to develop a Marriott-branded residence and hotel in Phuket, a resort in Natai, and provide advisory services for a mixed-use project in Khao Lak.

Chief executive Titiwat Kuvijitsuwan said Phuket is not only a tourism destination, but also an attractive location for residential and rental investment, drawing short-stay travellers, long vacation tourists and working professionals.

“The Phuket residential market is substantial,” he said. “Long-term stays are rising, driven by executives, business owners, remote workers and those planning to spend their retirement in Phuket.”

While Phuket remains appealing for residential development, competition has intensified as the market has matured, requiring developers to offer unique and differentiated products rather than relying solely on prime locations, said Mr Titiwat.

Following the company’s development of Tonson One Residence in Bangkok, where the condo market has slowed, Capstone earlier this month signed an agreement with Marriott International to bring the Autograph Collection brand to its first project in Phuket.

Peylaa Phuket Autograph Collection Residences will be the first Autograph Collection Residences location in Asia-Pacific and the 15th worldwide, with Marriott managing long-stay rentals for investment buyers.

“Marriott is a global brand that helps us reach buyers worldwide,” he said. “Its standards, from design to construction, provide long-term confidence, assuring buyers and investors that the brand will enhance value and credibility.”

One of Marriott’s requirements, which sets it apart from typical condos, is the installation of sprinklers in every unit in addition to smoke detectors, as well as strategically placed WiFi routers to prevent signal dead zones.

“Marriott selecting us as a partner is a strong endorsement,” said Mr Titiwat. “They choose developers with a strong capital base, solid reputation and proven financial track record. We must maintain healthy cash flow and net worth at all times.”

The branded residence is to form part of Peylaa Phuket, a mixed-use development on a 12.6-rai plot in the Bang Tao area.

The branded residence component, worth 4 billion baht, occupies 10 rai and features 400 units.

Unit sizes range from one-bedroom units of 45 square metres to two-bedroom units of 83–86 sq m.

All units will be fully furnished, with prices starting from 7.2 million baht, averaging 170,000 baht per sq m.

The project will be launched next month, with the company expecting to sell 70-80% of the units before completion in 2027.

There will also be a 126-room hotel worth 1.5 billion baht operated by Marriott under the Autograph brand and four shophouses priced at 30 million baht each.

Capstone has begun construction of a 150-room hotel on a 23-rai beachfront plot on Natai Beach in Phangnga, with an investment of more than 2 billion baht. The project is scheduled for completion in 2027.

The company is also providing advisory services to a landlord owning 1,500 rai in Khao Lak, Phangnga, for the development of a mixed-use project named Matalay.

The project will feature six hotels, an international school, a convention and exhibition centre, a wellness centre, a camping area, and a surf village and school.

Vorapak Tanyawong was hailed as a reliable and trusted financial guru by Prime Minister Anutin Charnvirakul when he brought him in from the private sector to help run the economy as deputy finance minister.

Mr Vorapak had a good reputation and has worked in public office before, serving as an adviser to then-finance minister Pichai Chunhavajira in the Paetongtarn Shinawatra government.

So, he must have been aware of the potential pitfalls when Finance Minister Ekniti Nitithanprapas told reporters earlier this month his deputy would lead a task force to follow the money trail left by scam centres across Southeast Asia.

After an expose published this week by an investigative journalist revealed his links to just such people, Mr Anutin issued him with a call to explain. In response, Mr Vorapak on Wednesday resigned from the cabinet, while denying he had done anything wrong.

Tom Wright, an investigative journalist, on Tuesday published an article detailing how Mr Vorapak’s wife held shares in the same Singapore-based fund as “fixer” Benjamin Mauerberger’s wife.

In September, Wright posted on X that Mr Vorapak “became Thailand’s deputy finance minister, despite his role in a secret financial network that moved billions in dirty cash from Cambodia (known for casinos, scam centres, drugs) into the Thai and global financial system”.

Wright also wrote that “To more easily move illicit cash, this network secretly took over a Thai finance company and then offloaded it to crypto company KuCoin, all with Vorapak’s help. And yet he was made deputy finance minister last week!”

Mr Vorapak had admitted meeting Yim Leak, BIC Group president, to provide advice to establish a banking institute in Cambodia. Mr Yim was implicated by US Congress in September as being involved with financial scams, and so is Mr Mauerberger.

A photo of Mr Vorapak previously appeared on the website of BIC Group, identifying him as a board adviser. However, as of September, his photo had been removed from the site.

Mr Vorapak graduated with a Bachelor’s degree in Management Science and Computer Systems from Oklahoma State University in the United States and obtained a Master of Business Administration (MBA) in Finance from the University of Missouri.

He is recognised as an expert in leasing and has held several prominent positions, including with IBM Thailand, as managing director of Bank of America (Thailand Branch); managing director of Deutsche Bank (Thailand Branch); and CEO of JP Morgan (Thailand) Group of Banks and Securities Companies.

He was also executive vice president for Corporate Banking Group 1 at Siam Commercial Bank; CEO of Finansa Securities Ltd; CEO of Finansa Capital Ltd; and president and CEO of government-run Krungthai Bank from November 2012 to November 2016.

The latest round of the Thai-Cambodian Joint Boundary Commission (JBC) concluded after a marathon session that extended six hours beyond schedule, with both sides agreeing to repair damaged border markers and reassess land holdings in the contested Ban Nong Chan and Ban Nong Ya Kaeo areas of Sa Kaeo province.

The meeting also sidestepped discussions on border fencing, citing jurisdictional limitations.

The special session was co-chaired by Prasas Prasasvinitchai, the Thai ambassador to Cambodia, and Lam Chea, Cambodia’s minister in charge of border affairs.

The meeting officially concluded at 9pm but officials spent another three hours making extensive revisions to the wording of the minutes to ensure alignment with the positions of both nations. They were finally signed at 12.15am Thursday.

At the briefing that followed, Benjamin Sukanjanajtee, director-general of the Department of Treaties and Legal Affairs at the Thai Ministry of Foreign Affairs, described the discussions as candid and constructive.

Mr Benjamin noted that this was the first time the deliberations of the JBC had been made public, reflecting Thailand’s effort to reduce border tensions and prevent misunderstandings over sensitive issues.

Mr Prasas said the meeting proceeded in a friendly and cooperative atmosphere. Both sides assigned the Joint Technical Sub-Commission to reconstruct or replace 15 boundary markers that were damaged or missing, restoring them to their original locations. They also agreed to jointly determine new positions for three markers that were submerged.

Participants also agreed to expedite revisions to the 2003 terms of reference governing the creation of orthophoto maps. They will now incorporate technologies such as LiDAR (Light Detection and Ranging) to enhance the accuracy and efficiency of border mapping.

However, the issue of constructing a border fence was not discussed, as Cambodian co-chair Lam Chea said he had no authority over the matter.

The two sides also discussed the area between border markers 42 and 47, near Ban Nong Chan and Nong Ya Kaeo in Khok Sung district of Sa Kaeo province. The two villages have been the scene of a series of uneasy standoffs in recent weeks.

Both delegations agreed to hold technical consultations to facilitate temporary surveying and placement of provisional boundary markers in the area. These markers are intended solely for survey purposes and will not affect the legal territorial claims of either country under international law.

The two sides also pledged to instruct local military and civilian authorities to ensure the safety of demining teams operating in the area, in accordance with Article 3 of the 2000 Memorandum of Understanding (MoU). The goal is to allow survey operations to proceed without interference or provocation that could escalate tensions.

Mr Prasas said details of the resolutions would be submitted to the cabinet for consideration. He estimated the technical survey process would take at least six weeks to complete.

The next JBC meeting is scheduled to take place in Siem Reap, Cambodia, during the first week of January.

The JBC focuses on legal and technical land demarcation, led by foreign ministry officials. The GBC (General Border Committee) is for security issues and is chaired by defence ministers, and the RBC (Regional Border Committee) handles regional border management and cooperation, involving regional military commanders.

Thai authorities say they found irregularities involving an accounting firm and real estate projects possibly linked to foreign owners during a recent inspection of suspected nominee businesses on the tourist island of Koh Phangan.

Officials from the Department of Business Development (DBD) inspected four target locations on Tuesday as part of an investigation into businesses suspected of using Thai nationals as proxy shareholders for foreigners, according to director-general Poonpong Naiyanapakorn.

They found suspicious activity in two sectors – accounting services and real estate, he said.

In the accounting case, an accounting firm was discovered to have the same owner listed as a shareholder in 66 companies, with three of the inspected locations linked to this individual.

The buildings in question were also registered as the addresses of 89 business entities, many of which showed no signs of active operations.

Police seized documents and computers for further examination and the accounting firm and related companies were ordered to submit additional documents for a full examination, said Mr Poonpong.

The second case involved a luxury villa project comprising eight units rented to foreign tourists for 13,000 baht a night without a hotel licence. The project manager and foreign guests were questioned.

Initial findings indicated that the land, which was valued at 152 million baht, was owned by two Thai-registered companies with 49% Israeli ownership. A third Israeli company later purchased shares, raising suspicions of tax evasion and use of Thai nominees.

Mr Poonpong said foreign ownership in real estate is strictly controlled under the Foreign Business Act and brokerage or property management by foreign nationals requires strict screening and official approval.

The department is working closely with the Tourist Police, Immigration Bureau, Revenue Department and local authorities to tighten enforcement and protect Thai entrepreneurs, he said.

The southern province of Surat Thani, where Koh Phangan and Koh Samui are located, has been identified as the country’s second-highest-risk area for nominee operations.

Five Thai shareholders – one legal entity and four individuals – were listed as shareholders in 256 companies based in Koh Phangan, investigations have found.

‘This operation is part of the stepped-up plan to crack down on nominee businesses and ensure compliance so the country’s economy grows sustainably,’ Mr Poonpong said.

Hotels in Greater Bangkok should brace for an influx of new supply while average occupancy rates declined, contrary to rising figures in other regions, according to the Real Estate Information Center (REIC).

Siddhipen Siddharthapong, acting assistant director-general of the REIC, said Greater Bangkok had the largest expansion in hotel construction area nationwide, surging by 230% in the first half of 2025 year-on-year.

“The growing pipeline signals a significant increase in future supply,” she said. “This poses challenges for hotel operators in Greater Bangkok to plan and adjust strategies to mitigate risks from potential oversupply.”

During the first half of 2025, the number of hotel construction permits nationwide dropped 15.1% to 908, but total approved floor area rose 29.6% to 583,288 square metres, reflecting larger project sizes.

Greater Bangkok led the expansion, followed by the northern area with a 113% increase, while the western area gained 93.3% and the southern portion 12.3%.

The South accounted for the largest share at 249,379 sq m, or 42.8% of total approved area.

The top 10 provinces represented 85.7% of total hotel construction area, with Phuket leading the way with 195,271 sq m, up 20.1%, accounting for 33.5% of the national total.

This was followed by Bangkok, Chon Buri, Kanchanaburi, Nakhon Ratchasima, Phangnga, Krabi, Rayong, Chiang Mai and Lamphun.

Among these, construction area declined only in Chon Buri (down 49.9%) and Nakhon Ratchasima (down 24.7%), while the remainder posted growth.

Nationwide, new hotel business licences dropped 34.6% year-on-year to 232 in the first half, with total rooms dropping 32.2% to 8,946.

As a result, the number of registered hotels nationwide fell 3.7% year-on-year, while cumulative rooms declined 1.8%, reflecting continued caution among operators.

New hotel approvals declined across most regions, except the West, which remained unchanged.

Greater Bangkok accounted for the largest number of newly approved rooms at 3,012, representing 33.7% of the total, up 16.4% year-on-year.

This indicates that developers had slowed new launches in the first half, particularly in the South and Central regions, where new hotel and room licences plunged by more than 50% year-on-year.

The top 10 provinces for newly approved rooms accounted for 75% of the total nationwide. These comprise Bangkok, Chon Buri, Rayong, Chiang Mai, Phuket, Krabi, Samut Prakan, Nakhon Ratchasima, Khon Kaen and Prachuap Khiri Khan.

Samut Prakan saw the sharpest increase, up 367%, followed by Prachuap Khiri Khan, Khon Kaen and Bangkok.

The steepest drops were in Chon Buri (down 63%), followed by Phuket, Krabi, Nakhon Ratchasima, Rayong and Chiang Mai.

REGISTERED HOTELS

As of mid-2025, Thailand had 16,369 registered hotels, down 3.7%, and a combined 703,751 rooms, down 1.8% year-on-year.

By region, Greater Bangkok led with 179,872 rooms, up 2.6%, accounting for 25.6% of the national total.

The South followed with 167,388 rooms (down 3.4% and accounting for 23.8%), and the East with 108,560 (down 7.9% and accounting for 15.4%).

The top 10 provinces by cumulative room count accounted for 60.5% of total rooms: Bangkok, Chon Buri, Phuket, Chiang Mai, Surat Thani, Krabi, Songkhla, Nakhon Ratchasima, Rayong and Chiang Rai.

In the first half of 2025, Thailand’s average hotel occupancy rate rose to 60.8% from 59.1% a year earlier, with all regions improving except Greater Bangkok, where occupancy fell 0.7 percentage points to 56.2%.

“This reflected weaker demand in Greater Bangkok, contrasting with rising cumulative room supply, leading to heightened market competition,” Ms Siddhipen said.

Foreign tourist arrivals fell 4.7% year-on-year to 16.68 million in the first half — the first decline since late 2021 — mainly due to a 34.1% plunge in Chinese visitors, who dropped to second place behind Malaysia.

Arrivals from Malaysia also fell 5.6%, compounding the overall decline. However, some markets grew strongly, including the UK at 17.9%, India at 13.8% and Russia at 12.4%.

The top 10 source markets comprised Malaysia, China, India, Russia, South Korea, the UK, the US, Japan, Taiwan and Laos, accounting for 61.1% of total arrivals.

Regional occupancy rates were led by the South at 70.9%, followed by the West (65.2%), East (63.1%), Northeast (59%), Greater Bangkok (56.2%), the North (55.5%) and the Central region (55.1%).

Prime Minister Anutin Charnvirakul will pay an official visit to Malaysia to attend the 47th Asean Summit and related meetings from Oct 25-28 with the aim of promoting regional peace and driving inclusive economic growth.

Government spokeswoman Siripong Angkasakulkiat said the premier will make the trip to Kuala Lumpur, at the invitation of Malaysian Prime Minister Anwar Ibrahim. The visit will mark Mr Anutin’s second official overseas visit since taking office, while underscoring Malaysia’s importance as a close neighbour and strategic partner sharing common interests with Thailand, Mr Siripong said.

The prime ministers will hold discussions to strengthen cooperation on cross-border transport connectivity, trade and investment promotion, tourism, and transnational issues, as well as efforts to foster closer people-to-people relations.

At the 47th Asean Summit, Mr Anutin will participate in his first multilateral meeting. The prime minister will advocate four major initiatives: promoting peace and stability in the region, building a secure and resilient regional community, advancing inclusive economic development, and encouraging transformative actions towards sustainability.

“This visit presents an opportunity to strengthen Thailand-Malaysia relations, particularly in border security and economic development,” Mr Siripong said. Mr Anutin would also meet key world leaders, including those from the United States, China, Japan, and India.

Lotteries are among the oldest forms of betting. Yet in modern times, various governments have used this popular form of gambling to encourage financial savings among citizens and even retirees.

Thailand is no exception. Recent administrations have sought to use lotteries as a means to help bettors save money.

The latest example comes from the government of Prime Minister Anutin Charnvirakul, which has proposed an “online lottery for retirement savings” — a scheme aimed at creating a retirement fund for those who gamble on government lotteries.

The Anutin government is not the first to try this.

The recently replaced Pheu Thai-led administration developed a similar retirement lottery scheme, which received parliamentary approval and is expected to launch this year.

Under the Pheu Thai Party’s version, the programme will be managed by the National Savings Fund (NSF), which has 2.78 million members and expects this to rise to 2.8 million by year-end.

The NSF’s retirement lottery seeks to increase savings among Thais, particularly informal workers who are not covered by retirement systems such as the Social Security Fund or provident funds.

Anyone aged 15 or older can buy retirement lottery tickets for 50 baht each, up to a maximum of 3,000 baht per person per month.

Five million tickets are issued weekly, with draws held every Friday. The top prize is 1 million baht, with smaller three-digit prizes worth 1,000 baht.

The catch in Pheu Thai’s version is that all money used to buy tickets is accumulated and returned to buyers when they turn 60.

Those over 60 can still purchase tickets, with the money returned five years after the initial purchase.

If there are no winners for a given draw, the prize money rolls over to the next.

The Anutin government’s “online lottery for retirement savings” differs from this.

Under the plan, each lottery ticket will be priced at 80 baht, with a portion of the money set aside for a retirement fund even if the ticket does not win.

For instance, 5-7% of the 80 baht would be allocated to establish the fund, which could be withdrawn once the buyer reaches the age of 55.

For those over 50 — say, 58 years old — the fund must be held for at least five years before withdrawal.

At first glance, the idea behind the Anutin government’s online lottery for savings may seem promising.

However, on closer examination, the concept appears to be a populist policy lacking careful consideration — an attempt to build a retirement savings system out of gambling.

But can such a policy truly create meaningful retirement savings for the public, especially grassroots citizens?

With each 80-baht ticket setting aside just 5-7% — roughly 5.60 baht — the remaining 74.40 baht is still spent on gambling.

Had the ticket not been purchased in the first place, that amount could have been saved or used for daily necessities.

For this reason, saving through an online lottery is unlikely to provide a sustainable, long-term source of retirement income.

Ordinary Thais, particularly low-income individuals who regularly buy government or underground lottery tickets, often express frustration when their numbers fail to win.

“I lost again!” is a familiar lament.

The populist “Online Lottery for Retirement” policy thus seems designed to soothe that disappointment — even if one doesn’t win, at least some of the money goes toward future savings.

Each year, Thais spend around 200 billion baht on government lottery tickets.

Including underground lotteries, total annual spending may reach 300-400 billion baht.

The broader challenge to national savings, however, lies in rising household debt — a growing economic malaise.

According to the National Economic and Social Development Council (NESDC), Thailand’s household debt in the second quarter of 2025 reached 16.35 trillion baht, equivalent to 87.4% of GDP.

This debt burden constrains spending, especially among low-income groups.

Young people, too, are increasingly accumulating debt beyond their means, driven partly by online consumption and “Buy Now, Pay Later” services.

Nevertheless, a strong savings system is a crucial pillar of society, particularly as Thailand becomes an ageing nation — with 20% of the population now over 60.

Yet the country’s retirement savings system remains weak, leaving many older Thais in poverty.

The Social Security Fund’s old-age savings programme, launched in 1999, now covers around 12 million members.

While it has expanded coverage for non-government workers, monthly pensions remain low — typically 4,000-5,000 baht, sometimes reaching 6,000 depending on contribution length.

These sums are far from sufficient to support retirees amid rising living costs, particularly those without personal savings or passive income — let alone self-employed workers and small vendors outside the system.

Those not covered by social security can join the National Savings Fund (NSF).

Saving 2,500 baht per month for 40 years would yield a monthly pension of about 3,790 baht — a clearly inadequate amount to live on four decades from now.

According to the Finance Ministry, post-retirement income should be at least 50% of pre-retirement earnings.

To achieve this, the ministry has promoted the National Pension Fund Act — a mandatory provident fund requiring all employers to provide retirement benefits for their employees.

Currently, private-sector provident funds operate on a voluntary basis.

However, the National Pension Fund law, approved by the cabinet under the Prayut Chan-o-cha administration in 2021, has yet to be submitted to parliament due to unfavourable economic conditions.

Using the lottery to encourage saving is not inherently wrong, even though, on the surface, it could easily and understandably be perceived to be.

But policymakers must take a broader view and approach, and in turn build a more solid foundation for sustainable retirement financial security by reforming the Social Security Fund, corresponding pension policies, and various laws.