Toward the end of 2021, Thailand announced new incentives for foreign investors, skilled professionals, and wealthy retirees. Incentives will span areas including immigration permit, tax, and land ownership. It has been reported that the government expects incentives to attract over a million foreign investors and professionals within 5 years, contributing USD 30 billion to the economy.
Also to be highlighted are the new incentives that the government looks set to increase for foreign film shoots in Thailand, in a move aimed to promote shooting and production. Thailand currently offers a cash rebate equivalent to 15% of every THB 50 million (USD 1.5 million) spent on a film shoot. An extra 5% cash rebate is offered if foreign film studios hire Thai staff, promote Thai culture and shoot in second-tier tourism provinces. It is expected that the new incentives will include a 30% cash rebate for foreign filmmakers who spend between THB 50 and 100 million on production in Thailand.
In 2020, there were 176 foreign film shoots in Thailand, of which 74 were movies, 33 were series, 28 advertisements and 41 other types. The average production cost was THB 100-300 million (USD 3-9 million).
(Sources: ASEAN Briefing; Bangkok Post)
