Thaksin Shinawatra proposes golden visa scheme and higher travel fees to boost Thailand's economy

Former Thai Prime Minister Thaksin Shinawatra proposed a golden visa scheme to attract 600,000 wealthy foreigners, depositing $1 million each, to boost Thailand's economy. The scheme could bring in $500 billion, Thaksin said. He also suggested raising passenger service fees by up to 300 baht per passenger to generate 40 billion baht in additional profit annually. Thaksin retains influence with policymakers and has suggested ways to invigorate economic growth in Thailand.

Former Thai Prime Minister Thaksin Shinawatra has proposed a golden visa scheme and an increase in passenger service fees to invigorate Thailand's economy, which has been sluggish due to high household debt and slowing tourist arrivals [1]. The golden visa scheme aims to attract 600,000 wealthy foreigners who would deposit $1 million each, potentially bringing in $500 billion and driving GDP growth [1]. In addition, Thaksin suggested raising passenger service fees by up to 300 baht per passenger to generate 40 billion baht in additional profit annually, which could be used to improve Thailand's aviation infrastructure and become a regional hub [1].

Thaksin's proposals come at a time when Thailand is under pressure to secure a favorable trade deal with the United States, which accounts for about 18% of Thailand's total shipments. The country is set to offer scrapping tariffs on 90% of US goods in a bid to avert a punishing levy threatened by President Donald Trump [2]. The new proposal, which includes a tax exemption for US digital services and increased imports of key US food and agricultural products, could reduce Thailand's trade surplus with the US by 70% within three years and lead to balanced trade within five years [2].

Despite his proposals, Thaksin faces legal troubles, including a decade-old royal defamation case. However, he remains confident in his ability to influence policymakers through the ruling Pheu Thai party, helmed by his daughter Paetongtarn Shinawatra [1]. The Constitutional Court recently suspended Paetongtarn as prime minister while it deliberates on an alleged ethics violation case involving her handling of a border dispute [1].

Thaksin's proposals are part of broader efforts to revitalize Thailand's economy and travel industry. The Tourism Authority of Thailand lowered its forecast for foreign tourist arrivals in 2025 to 35 million from 40 million, with Chinese visitors falling short of projections [1]. The recent kidnapping of a Chinese actor through Thailand has increased safety concerns, but Thaksin has suggested personally insuring any Chinese travelers to Thailand to win their confidence [1].

References:
[1] https://www.bloomberg.com/news/articles/2025-07-17/ex-premier-thaksin-touts-golden-visa-higher-travel-fees-to-lift-thai-economy
[2] https://www.bloomberg.com/news/articles/2025-07-17/thailand-to-offer-trump-no-duties-on-90-of-goods-adviser-says